Article Library



A Shield Against Predatory Taxes

Published March 30, 1994 Larry W. Gibbs |

The family limited partnership has become a darling of tax advisors in recent months. The tool also has become the talk of the tax circuit because it could be eliminated as soon as next year, given t...


Northwestern Golf Keeps its Eye on the Green

Published March 30, 1994 Mark Fischetti | Departments

In 1929, Nat Rosasco, an Italian immigrant grocer, started a new company with a new idea—that everyone should be able to enjoy the game of golf, regardless of their income. Although this notion ...


How to Plan for your Future Capital Needs

Published March 30, 1994 Chester A. Gougis | Advisers

Almost every company on the New York Stock Exchange was at one time a family business. In most cases, the companies ceased to be family businesses when the need for capital to achieve corporate or fam...


To the Victor Belongs the Ashes

Published March 30, 1994 Jeffrey B. Rudman |

There are people who believe that lawyers—like missiles—are very useful, but only so long as they are kept in their silos. I don’t happen to agree with that remark by the corporate ...


Terminal Illness Calls for a Hurry-Up Offense

Published March 30, 1994 Leon Danco | Advisers

About 10 years ago I received a call from a man at a Cleveland hospital who was waiting while his brother underwent open heart surgery. He said he had read an article about me and could I come down an...


Shareholders Have to Earn Their Wings, Too

Published March 30, 1994 Ivan Lansberg | Advisers

The distinction between ownership and management, so critical for the effective running of modern enterprises, is poorly understood by many family companies. If ever there was an issue that validates ...


Justice You Can Afford

Published November 30, 1993 John S. Powell |

“I was never ruined but twice: once when I lost a lawsuit and once when I won one.” —Voltaire All healthy organizations have to deal with conflict, and a family business is no exc...


Start Now If You Hope to Inspire a Successor

Published November 30, 1993 Leon Danco |

Recently I read about a young man in Michigan who had informed his father that he was not interested in taking over the family business. The son had gone to work with a major accounting firm after ea...


To Invest as Individuals or as a Family?

Published November 30, 1993 Gerald Cramer |

Owners of family businesses tend to focus much of their time and energy on just that—running a successful business. There are, however, strong pressures on families to properly invest their cap...


Mom Is Still Mrs. Outside

Published November 30, 1993 Marcy Syms |

In startup companies of a generation ago, the husband would be in charge of making the product. He, or perhaps his brother, would go out and sell it. The wife would keep the books. She might continue...


How to Avoid Multiple Shareholder Madness

Published November 30, 1993 Randy Bliss |

Recently, a young man called me with a vexing problem. His father, Joe Johnson, had started a home construction company in Georgia 42 years ago, and with great effort had created a solid, profitable ...


Pushing Out the Service Envelope

Published November 30, 1993 Steven Grossman |

My grandfather, Maxwell Grossman, was a practical man. He had started our family’s business—the Massachusetts Envelope Co.—in 1910, and built it by building strong relationships. He...


How Family Stories Shape the Business

Published November 30, 1993 Elizabeth Stone |

When i was growing up in Brooklyn, my father had a small business which consisted of anywhere from two to five stores—depending on the year—in downtown Manhattan. Though my father’s...


Protecting Your Company in Talks with a Buyer

Published November 30, 1993 Howard D. Scher |

The pattern of events is classic: A large multifaceted company finds that your business is an attractive candidate for acquisition. You have what it wants: a different market, specific customers, a u...


What Most Businesses Need Before an Outside Board

Published November 30, 1993 Donald J. Jonovic |

“No way” the chairman told me when I suggested creating an outside board for his electronics distribution company. We were working on a number of leadership transition issues with him and...


Look Who's Out There on the Cutting Edge

Published November 30, 1993 Ernesto J. Poza |

While it may be hard to imagine an American city competing with Hong Kong in the marketing of custom-made suits, the city of Cleveland is, in fact, the center of a revolution in the way the suits are...


How to Lose Control of the Bottom Line

Published August 30, 1993 Stan Luxenberg |

With a ball-point pen and steel nerves, a bookkeeper looted a family owned textile manufacturer. The scam took advantage of trusting employers who saw no reason to update their accounting system. ...


GRATs are Great--If Designed Right

Published August 30, 1993 Harris L. Sherman |

The resourceful business owner in today's economy is forced to be more receptive to the various vehicles, both simple and complex, that offer significant tax saving opportunities. Passing the busines...


Model Family Comebacks

Published August 30, 1993 Connecticut Mutual |

The high mortality rate of small businesses in America is well known, and in recent times countless family companies have been forced to the brink by stagnant markets, increased competition, and a cr...


A Domineering Father's Letter to his Son

Published August 30, 1993 Howard Muson |

In the annals of business families, there are a few classic examples of father-to-son letters that contain wise advice on preparing for careers in the family company. There are also letters that pro...