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Freeing the Next Generation from Founders' Insecurities

Published May 30, 1992 Edwin A. Hoover |

Much has been written about the personality characteristics of entrepreneurs that make them resistant to succession planning. For example, studies show that many business founders come from backgroun...

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Why You Need A Marketing Plan

Published May 30, 1992 Scott Ward |

  Ask senior managers of many family businesses about their firm's marketing, and they are likely to tell you about their hustling, aggressive sales force. Or they may try to convince you th...

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An Wang's Legacy to His Children

Published May 30, 1992 Charles C. Kenney |

A lot of competitive market forces conspired to bring Wang Laboratories, one of the world's largest computer companies, to the brink of financial disaster in 1989. A new book by journalist Charles C....

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The Appreciable Benefits of Gifting More Now

Published May 30, 1992 Stephen M. Chiles |

Business owners have long known that it makes sense to pass along some stock during theirlifetimes to their heirs. Most are aware that each parent is allowed to give every one of theirchildren $10,00...

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How to Set Up Your Own Income Retirement Plan

Published May 30, 1992 David J. Downey |

One of the main reasons that older business owners are reluctant to give up control of their companies is that they don't want to ever have to ask their children for financial help. If you are thin...

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Heed the Warnings of Financial Distress

Published May 30, 1992 Baker A. Smith |

More then half the clients referred to my company, which specializes in managing turn-arounds, are family businesses. Often we are called upon when the business is already ill, when it is having trou...

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Total Quality Demands a New Style of Leadership

Published May 30, 1992 Peter Davis |

We consultants used to think that the first step family businesses had to take when they grew beyond a certain size was to professionalize. The standard prescription called for establishing budgets a...

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The Family Business as Black Comedy

Published May 30, 1992 Howard Muson |

Soap operas frequently portray the family business as a battleground of power, greed, and ambition. Comedy writers lampoon the tangled family emotions that lie behind the corporate face of earnest re...

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Tougher Rules for Nepots

Published May 30, 1992 Mark Fischetti |

Few family business owners are tougher on their own kind than the men who run Coors Brewing Co. in Golden, Colorado. Bill Coors, grandson of the founder, and his nephew Pete govern the hiring of fami...

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Do Unto Others So They Pay Up

Published May 30, 1992 Howard Muson |

Yes, there are family companies in the collections business, too. And one of the most prominent in the Far West is Washington Credit Inc. Started by C. Dan Hunter in 1950, WCI was a small collections...

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The Legal Thaw Continues for Frozen-Out Shareholders

Published May 30, 1992 Rodman Ward Jr. |

Minority shareholders in close corporations frequently complain that they are locked into illiquid securities, receive low returns, and cannot sell out at anywhere near the true value of their shares...

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Who Should Get The Real Estate?

Published May 30, 1992 Randy Bliss |

Julie Robinson has tears in her eyes and anger in her voice as she talks about her brother, Tom Robinson Jr. "He has absolutely no respect for his father, that's why he did this," she says, looking o...

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How to Woo Your Banker

Published May 30, 1992 Bernard H. Tenenbaum |

The scene is familiar to many bankers. The owner of a family business walks into the bank one morning and announces, "My daughter and I just decided we want to open a new store." This owner is look...

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What My Father and I Never Said to Each Other

Published May 30, 1992 Daniel Paisner |

My father owns a textile business. It was his father's once. And because I am the first son, it could have been mine. But I've chosen to do something else for a living, and I think about that more an...

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Greed and Animosity in the Second Generation

Published May 30, 1992 Leon Danco |

In my 30 years of advising family companies, the problems I have seen have multiplied with the number of people who have a stake in the firm. In the old days, when a business was growing like a baby b...

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From One-Man Band to Orchestra Leader

Published May 30, 1992 Lila A. Lewey |

In every first-generation family business there comes a critical point when the owneroperator has to acknowledge the need for a management team. The business can no longer be run by one or two people...

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The Value of a Covenant Not to Compete

Published March 30, 1992 Tom Ochsenschlager |

A NON-COMPETE covenant is one of the most important intangible assets of a familyowned business. Yet in negotiations for the sale of some businesses, it is frequently overlooked byboth the buyer, who...

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Tough Love and The Buyout Agreement

Published March 30, 1992 Mike Cohn |

“Trust in God, but tie your camel first” is an old Sufi proverb that family business owners should heed when considering an ownership transfer. Even when giving the business to your child...

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How Marsha Sees It

Published March 30, 1992 Marsha Marson Moller |

Marsha Marson Moller, 35, is a vice-president of Newcan. In an interview, she offers her own view of the succession process at Newcan and the difficulty of preparing to follow in the footsteps of her...

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Passing On A Partnership

Published March 30, 1992 Howard Muson |

Five guys named Vellano in the sewer business had good reason to break out the champagne at the start of 1992. Early in January their fathers signed a buyout agreement under which the five cousins &m...

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