Article Library



Working Billionaires

Published May 30, 1999 Mark Fischetti |

The leaders of family companies dominate Forbes magazine's new list of the “world's working rich”—the stiffs who are left once kings, queens, oil potentates, and nonemployed heirs a...


Beyond Enough: The Joy-to-Stuff Ratio

Published May 30, 1999 Ellen Frankenberg |

As a family psychologist, I am interested in two major assets that my friends in family businesses possess: money and time. More specifically, I am fascinated by how the limitations of time and the p...


Teaming Up with a Hired Manager to Spur Growth

Published May 30, 1999 Steven B. Smith |

It seemed like an interesting career opportunity, a chance to move from the large corporate environment to a smaller family company where my efforts would have a significant influence. In 1978 I was o...


Independent Directors in the Middle

Published May 30, 1999 Ivan Lansberg |

Everything was simpler in the old days when most people thought of succession as a father handing the reins of a business to his son. Today we know succession is a complex process requiring time and ...


What's Your Worst Mistake?

Published May 30, 1999 Jayne A. Pearl |

  We grew too fast— and ran out of money   David Zack Copperstate Metal Co. Phoenix, AZ Growing too fast put Copperstate Metal Co. into bankruptcy in 1990, says David Zack, 6...


A Father's Words of Wisdom for the New Publisher

Published May 30, 1999 Nick Lyons |

Fathers love to advise sons, but few have done it with such willing heart and grace as Nick Lyons. Several months ago, after 15 years as head of The Lyons Press in New York City, Nick, 67, turned the...


Why Private Firms Are Into M&As

Published May 30, 1999 Alan J. Scharfstein |

Merger-and-acquisition activity is intensifying among privately owned companies, in large part due to industry consolidation. Most of the companies making M&A decisions are doing so for strategic...


Building a Team Culture

Published May 30, 1999 Mark Fischetti |

It's been only a year since the three Cogliano brothers took charge of Sullivan and Cogliano, a computer consulting firm in Waltham, Massachusetts. The brothers have traditional titles—Jay, 36,...


Growing the Firm - and the Marriage

Published May 30, 1999 Rosann Levy |

I awoke with a start at 2 o'clock in the morning. Our Manhattan apartment was quiet. My husband, Arty, was sleeping soundly at my side, and the cat was curled at my feet, purring softly. My mind was ...


How to End the Estate-Tax Chess Match

Published May 30, 1999 Michael L. Fay |

For owners of family businesses, the history of estate tax planning has resembled a chess match. No sooner do owners and their professional advisers develop a useful technique to reduce the tax burde...


Why It Pays to Use the Right Legal Tools

Published May 30, 1999 Scott E. Friedman |

Although many family businesses are established as traditional legal entities such as partnerships, corporations, or limited liability companies (LLCs), in practice they function quite differently fro...


How to Turn the Family Name Into a Brand

Published May 30, 1999 Kerry Pechter |

If you had to invent a catchy brand name for a city guidebook that offers dining and travel tips to urban sophisticates, you'd probably pick something smart and self-evident, like Sidewalk or Digital...


The Making of a Banking Star

Published May 30, 1999 Howard Muson |

Rebeca Romero has all the fresh-faced charm and enthusiasm of a young woman embarking on life and a career. Some might say that at age 22, the Wellesley graduate is a little young to be president of ...


What Partners Often Leave Unsaid

Published March 30, 1999 David Gage |

Jack and Alyce Schmidt started Spacesaver Systems Inc. in Kensington, Maryland, 25 years ago. A dozen years later the youngest of Jack’s two daughters, Amy Hamilton, entered the business, which...


Save for Retirement When at Your Peak

Published March 30, 1999 Gerald Le Van |

An urgent message to business leaders in their 40s and early 50s: Pay the price of succession during your peak years. Make plans now to finance your retirement outside your company. Don’t plan ...


When Patient Capital Grows Impatient

Published March 30, 1999 Francois de Visscher |

The Windham Co., a third-generation manufacturing company, had not surveyed its shareholders to evaluate their liquidity and capital needs in more than 20 years. The company had very effective shareh...


Running Away from Succession

Published March 30, 1999 Robert A. Brawer |

Expert perspectives on family business run the gamut from the advice of lawyers and management consultants to the ministrations of psychologists. While impressive in their range, these perspectives a...


Who Selects the Successor?

Published March 30, 1999 Jayne A. Pearl |

It’s a business decision for the board Marion Wilson AllTech Data Systems Bensenville, IL “Succession should be a business, not a personal, decision, and should be made at the board...


What I've Learned as Mom and Boss

Published March 30, 1999 Ronda Vecchio |

Our school, like my five children, and like most family businesses, just grew up. The school I started in 1982, tutoring court reporting students in my family dining room, has grown from a half-dozen...


Unleashing the Power of Word-of-Mouth Online

Published March 30, 1999 Hal Taussig |

Customer trust is one of a family business’s greatest assets. Technology has become a surprising ally in efforts to build that trust. An online conversation on topics your customers find intere...