Article Library



Equal Isn't Always Fair

Published March 30, 1996 Kelin E. Gersick |

Five years ago Adam Hutchison, age 64, decided to retire from hisreal estate business in Fairfield, Virginia. He had been president of New World Enterprises for 28years ever since his father-in-law&r...


What, Me Worry?

Published March 30, 1996 Sue Birley |

What arethe issues that give you nightmares?” That was the inquiryunderlying a 1995 survey of owners of the United Kingdom’s closely held businesses. The chiefexecutives were asked to con...


Making a Sibling Startup Work

Published March 30, 1996 Deanne Stone |

While onvacation in Italy back in 1983, Lee Gravely and her daughters,Frances and Susan, admired the dishes on which lunch was served in a hotel on the Amalfi coast. Avidcollectors of ceramic dinnerw...


The Cousins Tournament

Published November 30, 1995 Kelin E. Gersick |

At the Blanchard family's 1993 New Year's Eve party, Al Blanchard talks for the first time about retiring as president of Grandview Industries. Al, 67, is standing on the back porch of his rambling S...


Using the Business to Reconnect with Family

Published November 30, 1995 Ivan Lansberg |

Building a successful and thriving business is truly a miracle. It takes extraordinary energy and endurance as well as relentless determination to succeed against formidable odds. During the format...


How Not to Get Along with Your Grown-Up Sibs

Published November 30, 1995 Jeff Reid |

If getting along with your grown-up siblings seems tougher than it should be, the problem may be partly semantic: Perhaps the words "grown up" should be used advisedly in reference to your siblings w...


Good Communication is a Two-Way Street

Published November 30, 1995 Leon Danco |

"When I use a word," Humpty Dumpty said in a rather scornful tone, "it means just what I choose it to mean—neither more nor less." "The question is," said Alice, "whether you can make words m...


Eric Monsen's Mentoring Team

Published November 30, 1995 Stephen J. Simurda |

Last may the top two nonfamily executives at Monsen Engineering Co. sat down in a closed conference room with Dick Monsen, the company's 59-year-old president, and his son, Eric, a 29-year-old accoun...


Never Fight, and Always Respect Each Other

Published November 30, 1995 Global Perspectives |

The Mogi family of Japan started the Kikkoman Corp. as a local soy-sauce maker in the 17th century. Today it is an international company. The family now has eight branches, each of which is allowed t...


Working for the New Owner

Published November 30, 1995 Roderick W. Correll |

When you've worked so long for yourself, it's hard to begin working for someone else. When you've sold the family business, but choose to stay on to help the new owner grow the company, it's harder s...


In the Shadow of Giants

Published November 30, 1995 Roy W. Menninger |

When Dr. Roy W. Menninger took over the presidency of the Menninger Foundation in 1967, he followed in the wake of not one but two olympian figures: his uncle, Dr. Karl Menninger, one of the pioneers...


How to Keep the Campbell Kids Happy

Published November 30, 1995 Howard Muson |

If Bennett Dorrance was looking for advice, he had come to the right place. Dorrance is a real estate developer in Phoenix, but he was speaking to an audience at the Wyndham Paradise Valley Resort in...


Switching From S to C Can Be Short-Sighted

Published November 30, 1995 Jayne A. Pearl |

When congress passed increases in personal income tax rates in 1993, many family companies faced a complicated new tax equation. With the personal rate now higher than the corporate rate, business ow...


The Buck Stops Here on Your Toughest Decision

Published September 30, 1995 Leon Danco | Feature Article

At some point in their lives business owners have to close their eyes and start having a few new dreams. By age 40 or so, parents need to look around at their children and ask, “For whom am I bu...


Limiting Trustees' Liability for Cleanups

Published August 30, 1995 David R. Glyn |

Placing the family business or estate in trust is often an essential element in estate planning.However, in recent years, the specter of personal environmental liability has been a black cloudhanging...


From Mom & Pop to Mega Firm

Published August 30, 1995 Mark Fischetti |

There iswonderful diversity in the business sector we call familybusiness—huge enterprises like Cargill and local grocery stores, first- and fourth-generationcompanies, firms run by patriarchs ...


Where to Get Capital in the Nineties

Published August 30, 1995 Family Business |

A five-member panel convened by Family Business agreed there is plenty of private capitalaround these days for family companies wishing to finance succession or take a leap to the next levelin size. ...


One For All and All For One

Published August 30, 1995 Ivan Lansberg |

I was recently working with four siblings—three brothers and a sister—who were to soon take full charge of their father's third-generation company. As so often occurs, rivalries among ...


Face Up to Prenup Agreements Now

Published August 30, 1995 Michael L. Fay |

Although prenuptial agreements are now common, mi-conceptions about their purposes and effectsare widespread. If the negotiation of an agreement is handled indelicately, relations between the twofami...


Can You Go Home Again?

Published August 30, 1995 Julia Smith Atkins |

My earliest association with my family's business came at age 16, during the months of June, July, andAugust, when other children in Asheboro, North Carolina, were enjoying vacation. Having been rear...