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Business is blooming

Published January 4, 2021 Hedda Schupak | Departments

Small independent retailers have enough challenges without adding “pandemic” or “civil unrest” to their list. But Lee’s Flower and Card Shop, a third-generation institution on U Street in Wa...

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Five New Year’s resolutions for family businesses in 2021

Published December 14, 2020 Eric Czepyha |

The tumultuous events of 2020 have had a profound impact on family businesses across the country. With many companies furloughing staff, applying for government loans and instituting remote work arran...

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Laird Norton acquisition helps secure family’s long-term mission

Published December 14, 2020 |

In early December 2020, the Laird Norton family took a major step to secure its long-term mission to serve multiple generations of families by acquiring Filament, a Seattle-based wealth management fir...

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Black Friday Sales in the Capital Markets

Published December 10, 2020 Erich M. Hickey |

Everyone enjoys the satisfaction of getting a good deal or taking advantage of a sale. At this time of year, we are bombarded with messages about retailers offering deep discounts. My filtering proces...

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Succession Planning: Passing on Wealth and Planning for Continued Prosperity

Published December 10, 2020 |

By BDO USA LLPSuccession Planning as a Component of Family GovernanceA succession plan prepares heirs to transition successfully and preserve, grow and pass wealth from generation to generation. Other...

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Positive psychology can help family firms in tough times

Published December 6, 2020 Scott E. Friedman |

Adding to the well-known challenges that families in business together have always faced are the hardships created by the COVID -19 pandemic. Only time will tell how long these obstacles will remain i...

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Are your family business ownership documents in order?

Published November 23, 2020 Richard Spore |

Members of a family business may be tempted to adopt ownership documents (such as shareholder, partnership and LLC agreements) that are less robust than would be the case if the owners were unrelated....

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Why your family business needs a disruptive successor

Published November 17, 2020 Jonathan Goldhill |

Your plan to pass your business on to the next generation may be derailed if:• You don't have a future leader with vision.• You haven't made changes to your business model and have been impacted b...

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Family goals should drive family office decisions

Published November 15, 2020 Bill Rudnick |

The “office” in a family office is not necessarily a physical structure. Rather, it is a shared and agreed-upon approach to managing the family’s wealth.Family offices take many forms. They can ...

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The Fallacy of the Preference for Income in Portfolios

Published November 12, 2020 Joseph Zaccardi |

The most challenging part of providing financial guidance to families and institutions is overcoming educational hurdles to deliver a solution that provides enough comfort to allow the power of compou...

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Family Business CEOs to Watch 2020

Published October 23, 2020 | Feature Article

This year, business leaders in all sectors were tested as the COVID-19 pandemic challenged them to keep revenues coming in and circumvent supply chain disruption while taking measures to ensure the sa...

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Ben's Chili Bowl: A spicy landmark in the nation's capital

Published October 22, 2020 Scott Chase | Feature Article

Tucked away on a once-trendy, once-forsaken, now-trendy-again street in Washington, D.C., stand two national monuments perhaps less publicized but certainly as beloved as the museums and memorials tha...

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Bringing joy, and fresh food, to low-income communities

Published October 22, 2020 Barbara Spector | Feature Article

Even if you don’t live in Greater Philadelphia, you may be familiar with Jeffrey Brown, a fourth-generation grocer who is chairman and CEO of Brown’s Super Stores. About half of the 12 ShopRite an...

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Leaning in to uncomfortable conversations

Published October 22, 2020 Langdon Evans | Feature Article

Family businesses in the United States have been hit hard this year from a variety of angles. Stress on operational business activities due to the global pandemic and ensuing recession have necessitat...

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Resolving longstanding conflict is well worth the hard work

Published October 22, 2020 Joshua Nacht | Advisers

Longstanding family conflict can bring a family business to its knees. It saps energy and happiness and holds back the business from functioning optimally. The first step in resolving longstanding con...

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Navigating shareholder dynamics in a family office environment

Published October 22, 2020 Barbara Young | Advisers

Family business owners are typically laser-focused on building a successful, competitive, innovative company that will grow and flourish over time. However, an interesting thing can happen as a family...

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Risky family business

Published October 21, 2020 Barbara Spector | Departments

This year, our MLR Media team has focused on the topic of risk — an appropriate subject to consider in a year marked by a pandemic, destructive wildfires and social unrest.Our sister publication Dir...

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Pantry pride

Published October 21, 2020 Caro U. Rock | Departments

I love to cook, but for many years, with my work schedule and board requirements, I haven’t had the time. Then COVID descended. I found myself with the opportunity to cook more often for my husband,...

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Dueling Perspectives: Private company share structures

Published October 21, 2020 Barbara Spector | Departments

Business families have a variety of options for structuring shares in their company to meet the needs of the family and the business. We asked George Quarles, a third-generation owner of Quarles Petro...

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November/December 2020 Family Matters

Published October 21, 2020 | Departments

Second-generation family member Lynn Houston Moore has been named CEO of HJI Supply Chain solutions, based in Louisville, Ky. Her promotion marks the culmination of a six-year succession planning stra...

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