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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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Multigenerational firms should avoid culture and business 'confliation'

Published January 13, 2017 by Rodney L. Goldstein  | Advisers

As the fourth-generation lead family member of a family-owned Midwestern business, I witnessed firsthand the complications that stem from "culture and business conflation"—the melding of a family-...

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Working with a financial adviser to manage wealth strategically

Published January 13, 2017 by John Collins  | Advisers

Managing personal wealth is, in many ways, like running a business; a coordinated and holistic plan is required to ensure your most important objectives are achieved. Successful business leaders...

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A fourth-generation banking family

Published January 13, 2017 by Sarah Louise Klose  | Departments

In 1910, William F. Dierberg Sr. bought Creve Coeur Farmer's Bank in Creve Coeur, Mo. The bank, founded in 1906, served residents of the small community near St. Louis. The French phrase crève...

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Staying hot through five generations

Published January 13, 2017 by Dave Donelson  | Departments

Ask for a "bowl of red" in Texas, and you may well taste the chili seasoning that's been sold for five generations by the Pendery family. Their ancestor DeWitt Clinton Pendery is widely (although...

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Celebration Corner: ScrubaDub Auto Wash's 50th anniversary

Published January 13, 2017 by Tina Vasquez  | Departments

The Business: In the early 1960s, Marshall Paisner was working for J&H International, selling promotions to supermarkets. The job had him traveling constantly. Most weeks he'd...

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At the Helm: Sam Dushey

Published January 13, 2017 by Patricia Olsen  | Departments

Generation of family ownership: Third.

About the company: Forty stores in 11 states. [Revenues for 2015 reportedly were $200 million to $250 million.]...

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January/February 2017 Openers

Published January 13, 2017  | Departments

We have been working on enhancing the role and responsibilities of our owners' council (family council), along with identifying the set of skills required to serve as a council member. We...

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Elder sages

Published January 13, 2017 by Caro U. Rock  | Departments

This past fall, the 240 attendees at our Transitions West conference, held in Phoenix, Ariz., were treated to a spellbinding presentation by renowned winemaker Jean-Charles Boisset of the Boisset...

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Father or mother may not know best

Published January 13, 2017 by Barbara Spector  | Departments

Let us now praise family business founders. They are able to transform a great idea into a thriving enterprise that provides their family not only with financial security but also with inspiration...

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A slow but sure transition

Published January 13, 2017 by Dave Donelson  | Feature Article

Tom Flesch, CEO of Gordon Flesch Company in Madison, Wis., chuckles as he describes his ascent to the presidency of the office equipment dealer in 1986. "My dad pretty much just did it one day,"...

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Promoting family togetherness

Published January 13, 2017 by Sally Friedman  | Feature Article

It took courage and spunk for two adventurous young men to launch an advertising agency in Detroit in 1929, when the country was teetering on the brink of the Great Depression.

Lawrence...

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York Athletics: A family business in three acts

Published January 13, 2017 by Dave Donelson  | Feature Article

York Athletics sprang from a little guilt, a storied history and the entrepreneurial spirit of five brothers who came together to compete with some of the most iconic brands in the world. While...

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The best family business quotes of 2016

Published January 12, 2017

Here are some of the most powerful quotes that appeared in Family Business Magazine in 2016.

 

“When we took over, we made a pact that we wouldn’t argue about little things...

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Family business outlook for 2017

Published December 28, 2016 by Christian Schiller

Mergers and acquisitions deal volume hit an all-time high in 2015. While mega-cap deals slowed in 2016, it is reasonable to anticipate that 2017 will be the apex of M&A activity for middle-...

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Starting and building a private company board

Published December 28, 2016 by Barbara Spector

At the Private Company Governance Summit 2016, held in May in Washington, D.C., three veteran directors offered their views on the value an independent board can bring to a company, how to recruit...

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The role of the board at the Hagerty Group LLC

Published December 14, 2016 by McKeel Hagerty

Based in Traverse City, Mich., Hagerty is the world’s leading insurance and service provider for classic vehicles and host to the largest network of classic car owners. A family business from the...

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How family business boards handle conflicts of interest

Published November 04, 2016 by Barbara Spector

Independent directors on a company’s board provide an objective viewpoint that can help business leaders navigate the challenges arising from actual or potential conflicts of interest. Stephanie...

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Compensation in family businesses: The advantages and the challenges

Published November 04, 2016 by David Seitz  | Advisers

As a private, family-controlled company matures, it faces complex business challenges if it is to continue on a profitable growth trajectory through future generations. One of the major challenges...

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Independent boards of directors curb dysfunction, force accountability

Published November 04, 2016 by Pascal Levensohn  | Advisers

Many closely held companies, especially family businesses, are reluctant to establish boards of directors that include unrelated parties. Recruiting accomplished directors or domain experts who...

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