Craft a strong buy-sell agreement to keep the business in the family
It’s a dream for most families: build a successful business and eventually pass ownership of the company to the next generation and, hopefully, many generations after them.
But too many business owners fail to take important steps to ensure their business is handed down according to their wishes. Many have...Read more
Avoiding family philanthropy pitfalls
Philanthropy may keep family members engaged in the family business (including those not otherwise working in it) and can promote family values. Even so, the unique circumstances of business families can raise some challenges for effective giving.
Many family firms incorporate philanthropy into their business...Read more
A billion-dollar family business goes non-profit
When J. Mark Baiada turned 70 in 2016, he had more to celebrate than just a big birthday. Bayada Home Health Care, the business he had founded in 1975, was generating more than $1 billion in annual revenues. The Moorestown, N.J., company had become the U.S.’s 10th-largest home...Read more
Cascading force for good
In just one generation, Cascade Engineering has achieved considerable business success, while also striving to make a positive impact on society and the environment. Fred P. Keller, who founded the company with six employees in Grand Rapids, Mich., in 1973, says the business now generates about $350 million in...Read more
Good governance ensures smooth sailing at The Beach Company
During the credit crisis of the last decade, John C.L. Darby, like many real estate developers, had his share of sit-downs with jittery lenders.
But while other developers recount stories of painful reckonings with bankers during the worst housing downturn since the Great Depression, Darby, 55, noticed lenders seemed...Read more