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University family business clubs: An important resource for NextGens

Published May 09, 2017 by Carol B. Wittmeyer  | Advisers

As business families seek ever more effective ways to cultivate their next-generation leaders to meet tomorrow's challenges, many turn to educational institutions to deliver a robust business...

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Seven essential initiatives ensure family business growth and survival

Published May 09, 2017 by George A. Isaac  | Advisers

Despite seemingly blue skies and calm waters, family businesses, like boats on the ocean, face continual and potentially dangerous threats. The ultimate price for failure to prepare for and meet...

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Is your family prepared to manage potential risks to your reputation?

Published May 09, 2017 by Daisy Medici  | Advisers

Whether your family oversees one or more operating companies or a family office that manages investable assets, the word "risk" usually connotes concepts such as overconcentration, lack of...

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Pittsburgh business welcomes Gen 3

Published May 09, 2017 by April Hall  | Departments

With jobs at Kraft Heinz Co. and Keurig Green Mountain, Chris Droney was carving out a corporate career in supply-chain operations. He hadn't thought about joining his parents at Mt. Lebanon...

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A road warrior's influence lives on

Published May 09, 2017 by April Hall  | Departments

The fact that Michael Boccacino all but refused to work out of a traditional office space has informed his successors' approach to the family business. Boccacino Heating and Cooling is moving into...

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Celebration Corner: Crescent Jewelry's 175th anniversary

Published May 09, 2017 by Hedda T. Schupak  | Departments

The Business: The history of Crescent Jewelry Company begins in 1842, when R.E. Lackner opened a jewelry, camera and general mercantile store in Hannibal, Mo. Lackner had three...

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At the Helm: Sean Reilly

Published May 09, 2017 by Patricia Olsen  | Departments

Generation of family ownership: Fourth.

Revenue: Approximately $1.5 billion.

Number of employees: About 3,500.

Years...

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The NextGens' time to shine

Published May 09, 2017 by Caro U. Rock  | Departments

At our recent Transitions East conference in Tampa, my husband and I had a real treat—our son Bill, who has been with our family business for several years and was recently named president, served...

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Long-term thinking

Published May 09, 2017 by Barbara Spector  | Departments

When family firms are compared favorably with non-family companies, a point often cited is family business owners' "patient capital." While many corporations are focused on maximizing shareholder...

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A step-by-step path to leadership at Perryman

Published May 09, 2017 by Hedda T. Schupak  | Feature Article

How did a small African-American-owned homebuilder from Alabama end up as one of the leading construction companies in Philadelphia, Pa., whose projects have included major sites like the...

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Entrepreneurial spirits

Published May 09, 2017 by Barbara Spector  | Feature Article

In a facility in Enumclaw, Wash.—near Mount Rainier and the Crystal Mountain ski area—a pair of next-generation entrepreneurs are distilling their ideas for a new business venture. Literally....

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Dickeys Barbecue gets set for greater growth

Published May 09, 2017 by Dave Donelson  | Feature Article

The ambitions of the Dickey family have fueled the exponential growth of Dickey's Barbecue Restaurants Inc. The family's willingness to redefine the company's business model made the expansion...

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How Lidia Bastianich manages her family enterprise

Published May 03, 2017 by Patricia Olsen

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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Syrian Family Reclaims Their Artisanal Legacy

Published April 17, 2017 by April Hall

When the Alhamwi family fled Syria in 2012, it could have been the end of its four-generation tradition of making leather goods. Instead, good Samaritans who helped the family resettle in...

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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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