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Cannabis saves the Patton Family Farm

Published June 7, 2021 Amy C. Cosper |

The Patton family name has been synonymous with the military for generations. General George S. Patton is widely considered one of the most successful combat generals in U.S. history and his son, Geor...

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Know the Tension Points of Family Business Transition

Published May 26, 2021 Kathleen Hoye, CExP, ACFBA, CFWA |

As family businesses transition from one generation to the next, they experience common “tension points” that, unless proactively addressed, can impede long-term sustainability. These tension poin...

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Why some family constitutions fail

Published May 18, 2021 Vijay Sathe |

Family constitutions, sometimes called family charters, differ in details but generally specify the family’s values and vision, criteria for family member employment and ascent to leadership, and th...

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In a divorce, who gets what?

Published May 18, 2021 Jon Moore |

As demanding as the process of divorce can be, it becomes even more complex when a family business is involved.Few divorce settlements rival the 4% stake in Amazon, valued at $38 billion, that MacKenz...

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Priorities for family enterprises in a post-covid world

Published May 18, 2021 Bobby Stover |

COVID-19 vaccinations are underway, but there is still uncertainty. The pandemic has created profound economic, cultural, financial and political dislocation. Perhaps one of the biggest unknowns for 2...

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Diversity in 60 seconds

Published May 18, 2021 |

Key points on diversity you probably need to know Why is diversity important to the Yoh family? Diversity is an essential element to our business. It’s a core value and a competitive advan...

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When to consider external sources of funding

Published May 18, 2021 Rustom J. Desai |

Owners of small and medium-sized family businesses are often faced with a conundrum: They know they have something special that they have built with their blood, sweat, tears and money. But they also ...

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Running a trapline, defined

Published May 18, 2021 Jason Meyers |

In the fur trapping game, a trapline is a route along which a trapper sets a series of traps (yes, that kind of trap) in an attempt to snag whatever animals might yield the most value.Maybe ...

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Gilbane's 4 pillars of excellence

Published May 17, 2021 Margaret Steen |

In early 2019, the leaders of Gilbane Inc., a construction and real estate development firm based in Providence, R.I., held a brainstorming session. “We had virtually doubled the size of the company...

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2021 Compensation Survey

Published May 17, 2021 Bertha Masuda |

Key findings for family business executives: Level of pay correlates with company sizeExecutive compensation is one of the most important decisions family-owned companies make. Compensation plans play...

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100 years of gratitude

Published May 17, 2021 Amy C. Cosper | Feature Article

For the Goodfellow family, building a culture of excellence reaches far beyond the boardroomIt is a rare opportunity to capture moments in history that have left an indelible mark on humanity. Life le...

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Legendary lessons from lockdown

Published May 17, 2021 Bill U. Rock | Departments

Separating the business from the family is always a challenge, especially during (and after) a pandemicLike a lot of businesses, the MLR Media team has been working remotely for over a year, and it’...

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Leadership. The answer is always yes (until it isn't)

Published May 17, 2021 As told to Patricia Olsen | Departments

Tom Krouse is the President and CEO, Donatos Pizza, Columbus, Ohio. He took the time to chat with Family Business reporter Patricia Olsen to discuss leadership lessons and to answer the mystery o...

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Values: A distinct feature of the family enterprise

Published May 17, 2021 Amy C. Cosper |

I’ve spent most of my career writing about and hanging out with startups and entrepreneurs around the globe — an adventurous set of personalities to be sure. Most founders lead their efforts with ...

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Proposed tax changes update

Published May 13, 2021 Dave Bensema |

We’ve known for a while that tax changes are coming but have been waiting for specifics. While no legislation has been drafted, we recently got the high-level list of proposed changes in President J...

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Board Dysfunction: Who Is Ultimately Responsible?

Published April 26, 2021 Meghan Juday |

We have all seen the data and research on how board diversity improves the bottom line. The message is clear: Take diversity seriously, make the necessary changes, and your company will thrive. Additi...

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Building trust means breaking down barriers

Published April 20, 2021 Amy C. Cosper |

Chad Goodfellow is the CEO of Goodfellow Bros., a 100-year-old, family-owned construction company. The company is based in Wenatchee, Wash., but he is located in Kihei, Hawaii. We had a chance to chat...

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Hard truths: Moving on from a disaster (and a pandemic)

Published April 12, 2021 Amy C. Cosper |

Some things you just can’t control – a pandemic is one of those things. What you can control is how you react and behave to things you cannot control. One year later and it still doesn’t seem re...

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Wine, passion and Lamborghinis yield a pretty good story

Published April 12, 2021 Amy C. Cosper | Feature Article

For generations, the wineries of California have been cloaked in the mysteries of families and histories, legacies and legends, dramas and romances. If only the vines could talk. What tales they could...

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The innovators series: Think big

Published April 12, 2021 Amy C. Cosper | Departments

Family Business takes a look at what innovation looks like in a family business environment. We sat down with Edouard Thijssen to ask about his experience as an innovator. INNOVATOR: EDOUARD THIJ...

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