The rocky road to transition
For more than 145 years, Graeter's Manufacturing Co. has built its success on steadfast adherence to its process: making ice cream by hand, one batch at a time, in 2.5-gallon French pot freezers, regardless of the technological innovations adopted by competitors.
The company has withstood the challenge from mass-produced ice...Read more
Lidia Bastianich's recipe for a family enterprise
Like a number of top chefs, Lidia Bastianich has her hand in several ventures. Tavola Productions, her entertainment company, produces her cookbooks and children's books; her TV program, Lidia's Kitchen; and her occasional TV specials.
She is chef/owner of four New York City restaurants—Felidia, Becco, Esca and Del Posto. She...Read more
Preparing for a generational shift
When he was in fifth grade, Will Lyles wrote a paper outlining his future career path in his family's business. Although he didn't end up taking time off to get an MBA, as he had predicted at age 10, his career has largely followed his childhood vision.
Today Will Lyles,...Read more
Next-Gens Offer Advice on Joining the Business
Joining the family business as a next-generation family member can be challenging. Many next-gens fear they’ll be written off as entitled or too young.
What’s the best way to prove your worth -- to your family members, to your non-family colleagues and, just as important, to yourself? Here’s some advice...Read more
Family firms excel as ‘best places to work’
Fortune magazine recently released the latest edition of its “100 Best Places to Work” list. This is the 20th year the magazine has compiled the list, and it marked the occasion by recognizing the companies that have been included every year since the project’s inception. Four family businesses -- Wegmans...Read more
Study: Family firms lead in innovation
Six generations of ranchers
In the last 150 years, not all that much has changed in ranch life. The Snedden family knows that because they’ve been raising cattle on the same land in Maricopa, Calif., since the 1860s.
“My great-great-grandfather came out west as a gold miner,” says Austin Snedden, who represents the sixth...Read more
Fourth generation gives new life to old building
Some people have a lucky pair of socks, or a pair of earrings that brings them success. For the Sterns/LaCasse family, it’s an address: 4 Madison Ave. in Skowhegan, Maine.
Frederick Sterns opened a department store in the 14,000-square-foot building in 1929. Today some people around town still refer to...Read more