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Family firms must consider the role of compensation in the war for talent

Published March 20, 2017 by Wayne Cooper  | Advisers

Executive pay tactics are a potentially powerful set of tools for any business to use in recruiting, retaining, motivating and rewarding the key executives who are most responsible for sustaining...

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Take a multidisciplinary approach to exit and succession planning

Published March 20, 2017 by Herbert R. Fineburg  | Advisers

Effective succession planning is a multidisciplinary process that combines an understanding of the psychological dimensions of the business-owning family with the legal structures necessary to...

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The case of Poe Financial Group: Great power and great responsibility

Published March 20, 2017 by Carla Barrow  | Advisers

Imagine you are the founder of a family business that grows to become the third-largest private insurer in the state of Florida. Your company has more than 300,000 policies that generate more than...

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Life cycle trends pose challenges to family business sustainability

Published March 20, 2017 by Spencer Burke  | Advisers

Sustaining a family business over multiple generations has never been easy, and several megatrends are making it even harder.

First, there is the well-documented decline in corporate life...

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Family jewelry stores opt for closure

Published March 20, 2017 by Hedda T. Schupak  | Departments

Fine jewelry is one of the few retail categories still dominated by independent multigenerational stores. There are nearly 21,300 specialty jewelers in North America. Many are third-, fourth-, and...

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New Gen 3 hire has perfect timing

Published March 20, 2017 by Ilene Schneider  | Departments

Grant Rawlins joined R&B Wire Products in Santa Ana, Calif., on Aug. 11, 2016—exactly 50 years after his grandfather, Rea Rawlins, purchased the laundry cart company, and 42 years after his...

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Celebration Corner: Collins Medical Equipment's 85th anniversary

Published March 20, 2017 by Tina Vasquez  | Departments

The Business: In 1931, Thomas P. Collins Sr. opened Collins Pharmacy in the Black Rock neighborhood of Bridgeport, Conn. What began as a corner drugstore with a soda fountain has...

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At the Helm: Lisa Rowland Brasher

Published March 20, 2017 by Patricia Olsen  | Departments

Generation of family ownership: Fifth.

About the company: Last year we made over 15 billion jelly beans. We have staff in the U.S., Thailand, China,...

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March/April 2017 Openers

Published March 20, 2017 by Barbara Spector  | Departments

A PwC survey of 160 stakeholders in U.S. family businesses has concluded that too few family firms are developing formal succession plans, instituting governance structures or planning responses...

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Planning ahead

Published March 20, 2017 by Barbara Spector  | Departments

In its recently released global survey of family business owners, accounting and consulting firm PwC found that too few of them are establishing structures that can help them meet the challenges...

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The rocky road to transition

Published March 20, 2017 by Margaret Steen  | Feature Article

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,...

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Lidia Bastianich's recipe for a family enterprise

Published March 20, 2017 by Patricia Olsen  | Feature Article

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...

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Preparing for a generational shift

Published March 20, 2017 by Margaret Steen  | Feature Article

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...

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Next-Gens Offer Advice on Joining the Business

Published March 16, 2017 by April Hall  | Feature Article

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...

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Family firms excel as ‘best places to work’

Published March 16, 2017 by April Hall  | Feature Article

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...

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What you need to know about an ESOP

Published March 16, 2017 by Barbara Spector

Since setting up its Employee Stock Ownership Plan (ESOP) in 1998, Harrisburg, Pa.-based D&H Distributing has seen annual sales grow from $430 million to $3.4 billion. D&H’s third-...

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Study: Family firms lead in innovation

Published March 06, 2017 by April Hall  | Feature Article

Family businesses are among the most innovative in their industries, according to a recent study by an international team of researchers.

When they looked at investments in new ideas -- in...

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Six generations of ranchers

Published March 06, 2017 by April Hall  | Feature Article

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....

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Fourth generation gives new life to old building

Published March 06, 2017 by April Hall  | Feature Article

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...

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Exposure to accounting decisions is a key part of leadership training

Published January 13, 2017 by Karen Snodgrass  | Advisers

As a family business owner, you are pleased when you walk by a marketing team meeting and see your son suggesting ideas for the new website. You are impressed when you observe your daughter...

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