July 2018

A seasoned family business

It’s fair to say Lodge Manufacturing has kept the small town of South Pittsburg, Tenn., going since 1896, the year Joseph Lodge opened his first foundry. The company, known for its cast iron products, is one of America’s oldest continually operating makers of cookware.

The Lodge family has established a...Read more

NextGens to Watch

In order to sustain your family business for multiple generations, you need NextGen members who are prepared to serve as responsible stewards. This extends beyond the financial aspects of ownership and governance. Young people in successor generations must also learn to manage relationships among a diverse and growing group of...Read more

An unquestionably good reason to plan

The WM Fares Group of Halifax, N.S., began planning for generational transition when the three second-generation siblings began asking questions about how decisions would be made in the future.

Wadih Fares, the 62-year-old patriarch and founder of the property development company, has the last word on business decisions....Read more

Family council documents provide purpose and structure

Developing a family council checks a lot of boxes for a growing multigenerational family business. A family council provides a mechanism to engage and educate family members in a setting that includes positive social bonding time. Councils are a mechanism to define and address the “business of the family,” reduce...Read more

Sweet success with salt water taffy

Salt water taffy and caramel popcorn are timeless treats to enjoy on a classic U.S. beach vacation. For more than 100 years, Dolle’s on the Ocean City, Md., boardwalk has been providing these tasty souvenirs and more for tourists and locals.

Rudolph Dolle Sr. and his young son,...Read more