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Building a Strong and Loyal Board

Published August 30, 1995 Gordon O. F. Johnson |

From theday my father started LogEtronics in 1955 we had an outsideboard of directors. That was long before independent directors became a byword of corporategovernance. Until our first private placem...

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Protecting a Disabled Child's Inheritance

Published August 30, 1995 Roger J. Warrum |

Whenyou established your family business, one of the biggest incentives was to guarantee a secure futurefor your children. If you have a mentally or developmentally disabled child, you have the speci...

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How Stanley Marcus Showed Who Was Boss

Published August 30, 1995 Stanley Marcus |

Neiman-Marcus along with the city of Dallas, celebrated the 90th birthday of Stanley Marcusin April. The Neiman-Marcus Group is now owned by Boston-based Harcourt General. But the former CEO ofthe fa...

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The Bottom Line on Loans to Relatives

Published August 30, 1995 Stephen J. Simurda |

Even Shakespeare warned against it. “Neither a borrower nor lender be. For loan oft loses both itselfand friend,” Polonius advises his son in Hamlet. Somehow, though, one suspects the bar...

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Mid-Career Passages

Published August 30, 1995 Jayne A. Pearl |

Whensons or daughters on a fast-track to take charge of the familycompany drop out, there are disappointments all around. Parents are exasperated. Employees are worriedabout the firm's future. The de...

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Power Tax Planning: Tips for Savings in '95

Published August 30, 1995 Alan Alport |

With tax season looming, it pays to review some of the ways to save big bucks on your returns. As you examine the 20 tax tips that follow, you will notice two recurring themes. First, virtually eve...

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Please Don't Kill Our Business

Published June 30, 1995 Wayne Williams |

“I come before the committee today representing my family and the nearly 13.5 million other family businesses in the United States. I am also here on behalf of our employees, who represent a fe...

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Are You Planning to Pass the Torch?

Published May 30, 1995 Mike Cohn |

How well are you laying the groundwork for management succession? The following self-test should help you identify strengths and weaknesses. For each question, check the one statement that best descr...

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Creative Ideas for Building an Upscale Image

Published May 30, 1995 Allison V. Malcolm |

Big business is perceived as the primary commercial supporter of the arts in the United States. However, more and more small and medium-sized companies—many of them family owned—are devel...

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Good Boards Engage in Self-Evaluation

Published May 30, 1995 F. Friedrich Neubauer |

Family business owners should never forget that their responsibility reaches well outside the family. It includes employees, suppliers, customers, and the communities where the business operates. Thi...

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How to Get Capable Relatives Off Welfare

Published May 30, 1995 Joel I. Cherwin |

Fred Silvestri's window manufacturing operation in Battle Creek, Michigan, has grown steadily over the last 10 years. Fred knows his oldest son, Stan, company vice-president, will eventually take ove...

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Clashing Cymbals are Music to Their Ears

Published May 30, 1995 Nancy Shepardson |

For years Avedis of Constantinople, an alchemist by trade, searched for the secret that would allow him to transmute base metals into gold. What he found instead, in 1623, was a combination of tin, c...

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How to Rebuild Business Trust

Published May 30, 1995 Kenneth Kaye |

What miswiring of family circuits could possibly lead sons to stage a boardroom coup against a father, as in the Shoen family of U-Haul? What lifelong process of decay could turn a relationship so ro...

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Enjoy the Grandkids--Don't Mentor Them

Published May 30, 1995 Leon Danco |

The other day I had a call from a man who had attended one of my seminars with his wife in Puerto Rico in 1978. This man had been working for 26 years in a business owned by his wife's family. &ldquo...

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Love, Work, and Scrambled Eggs

Published May 30, 1995 Rich Davis |

In case you didn't notice when you got home last night, participating in a business and participating in a family are two very different experiences. Each has its own goals and purposes, and, yes, th...

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How to Build Character From Beyond the Grave. Not.

Published May 30, 1995 J. Peder Zane |

Sometimes, life imitates bad art. B-movies, to be exact—like “Easy Money,” “Brewster's Millions,” and “Billy Madison”—where the willful old millionaire...

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Lessons in Realpolitik for Successors

Published May 30, 1995 Ivan Lansberg |

Understanding power—its uses and abuses—is one of the most formidable challenges that face aspiring successors as they rise to positions of authority in family companies. The relatively s...

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Letting Go With Grace and Style

Published May 30, 1995 Shu Shu Costa |

It's Monday afternoon and John Beever, the fourth-generation president of John Dittmar & Sons, has just come in from mowing the grass at his 79-acre horse farm in Maryland. He heads straight for ...

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The Power of the Chief Emotional Officer

Published March 30, 1995 Ivan Lansberg |

Recently, I was invited to participate in the annual shareholders’ meeting of a large, third-generation European company. The high point of the meeting was the appearance of the founder’s...

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Cowabunga! Fam-Firms Ride the Third Wave

Published March 30, 1995 Howard Muson |

Alvin and Heidi Toffler appear to be Newt Gingrich’s favorite futurists. The Republican Speaker of the House quotes their books frequently and says he often seeks their counsel. They have been ...

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