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My Daughter, My Successor

Published March 30, 1992 David M. Marson |

Our business was started in 1900 by my grandfather. He was succeeded by my father, who actively ran the company until the mid-1950s. My brother, Richard, and I are our parents' only children; I a...

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Empowering New Leaders in the Midst of a Storm

Published March 30, 1992 Peter Davis |

Not All Family businesses have done poorly in this recession. Business has never been better in the past two years for a number of lean-and-mean, market-driven, quality firms, and coming out of the e...

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Friendly Investors Who Have The Deal For You

Published March 30, 1992 Noel Urben |

Many owners of family businesses continue to believe that in order to get a substantial amount of the value of their business in cash they must offer the company's stock publicly or sell the entire c...

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How to Make an ESOP Work

Published March 30, 1992 Stephen J. Simurda |

For some time, J. Walter Kisling's relatives had been getting on hiscase. Kisling is chairman and CEO of the Multiplex Co., in Ballwin, Missouri, which makesrefrigerated-beverage dispensing equipment...

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When Choosing Advisors, You Deserve the Best

Published March 30, 1992 Leon Danco |

When choosing a doctor, an auto mechanic, or a spouse, a business owner would not settle for second best. Yet, when it comes to outside advisors — accountants, lawyers, bankers, insurance peopl...

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Executive Perks

Published March 30, 1991 Stan Luxenberg |

As tax time approaches, family business owners are busily undertaking numerous exercises to figure out how to reduce the company's tax burden. Often, these examinations lead to a second inquiry: how ...

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Secrets of the Orient

Published March 1, 1991 Joel Kotkin |

No one quite knows who came up with the formula. Somewhere along his family's multi-generational line of doctors, one of Yasuo Fuji's ancestors concocted an herbal formula that seemed almost miraculo...

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Why Listen to the Dumb Relatives?

Published March 1, 1991 Peter Davis |

Over time in family firms, it becomes harder and harder to keep everyone happy. Young family members who see little prospect of ever running the business think about leaving. Family stockholders in ...

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Warming Up to Teach the Next Generation

Published March 1, 1991 Leon Danco |

The conversation starts innocently, but may come as a bolt of lightning. The business owner wanders into the office of a trusted senior manager — let's call him Old Joe — and announces: "...

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When Family Shareholders Want Out

Published March 1, 1991 Harvey D. Shapiro |

Death, it sometimes seems, may be the easiest way out of a family business. With proper attention to insurance, succession, and estate planning, those who leave this vale of tears can also depart fro...

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The (Second) Son Also Rises

Published March 1, 1991 Hal Plotkin |

Just one generation ago, Molex Inc. was a small company in a deep rut. Annual sales hit $3 million, then stuck there. Like many family businesses, Molex, a maker of plastic connectors that route elec...

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Living Dangerously

Published March 1, 1991 Berkeley Rice |

IT IS A WARM DAY in the Southern California city of Torrance, the air is still, and Frank Robinson is about to risk it all for a dream. The 61-year-old engineer and chief executive of Robinson Helico...

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A House Divided

Published March 1, 1991 Howard Muson |

LAST AUGUST, Eva Berg Shoen, 44, was shot to death in the resort town of Telluride, Colorado, where she lived with her husband, Sam, and their two children. The killer entered the Shoens' home during...

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Ads in a Recession

Published March 1, 1991 Tom Garbett |

Your sales are soft, profits are down, and the press is obsessed with economic gloom and doom. Your advertising doesn't seem to be pulling, and you are thinking of cutting back, saving your bait unti...

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Learn From Japan? Ha.

Published January 1, 1991 David Graulich |

The economy is comatose, credit is crunched, and U.S. companies are under more pressure than ever from overseas competitors. In order to prevail, many American business people are grimly determined t...

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How to Beat the Credit Crunch

Published January 1, 1991 Louis Moscatello |

Fastframe U.S.A. Inc. gets its financing the old-fashioned way. John Scott,who started the picture-framing stores three years ago and has three otherfamily members in the business and grew it to $14 ...

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The Young Maverick

Published January 1, 1991 Dan Rottenberg |

1974 Hal Rosenbluth graduates from college.He resents his family's travel agency because it hasalways been a rival for his parents' attention, andbecause it strikes him as dull. But lacking a betterp...

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Daughter Dearest

Published January 1, 1991 John A. Davis |

THE DAY RUTH Torgeson threw three customersout of the store, her mother's concerns about thefuture grew. Well, Ruth didn't exactly throw themout, but that's how they felt about what had happened. The...

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Starring in Your Own Ads

Published January 1, 1991 Anne B. Fisher |

There's no mistaking that Daw's Home Furnishings in El Paso, Texas, is a family business. The store's full-page ads in local newspapers proclaim "HOME OWNED AND OPERATED FOR OVER 38 YEARS!" The smilin...

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Scoping Out Insurers

Published January 1, 1991 Mike Cohn |

Will you outlive your life insurance company? Until quite recently, the question was rhetorical. Little in lifewas as secure, stable, and enduring as the insurance industry. Today, however, the...

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