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The Legacy Lingers On

Published August 30, 1994 Roderick W. Correll |

Sale of the family business is an event that frequently precipitates unexpected feelings and outcomes. Often owners who put their companies on the market have different goals and perspectives than th...

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When Your Mother-In-Law is The Boss

Published August 30, 1994 Barbara B. Buchholz |

William Bergstein was determined that his plastic lawn-ornament business ultimately wind up in the hands of flesh and blood. Bergstein started ArtLine Inc. in 1963 with financial help from three outsi...

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All You Need to Ask When Hiring a Consultant

Published August 30, 1994 Family Business |

In the past two decades a new type of professional has been knocking at the door of the family business market, offering to lead struggling family firms toward the Promised Land of business continuit...

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Turning The Vision Thing Into Action

Published August 30, 1994 Jan Cook Reicher |

When employees of Silverman’s Stores in Cleveland come to work, President Alan Silverman wants them to know without a doubt where to focus while on the job: that each of Silverman’s four general m...

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The Ultimate Risk-Takers

Published August 30, 1994 Mark Fischetti |

If ever there was a risky venture, it would be a rock concert to compete on the same day, in the same area, against Woodstock ’94. And if ever there was a family that would take such a risk it ...

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The Scion-Lion Who Learned to Roar

Published August 30, 1994 Leslie Dashew |

A king’s time as a ruler rises and sets like the sun. Remember who you are. The words could be advice from a family business owner to a son or daughter. In this case, it is a lion speaking to...

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Reengineering the Family Firm

Published August 30, 1994 Baker A. Smith |

Hallmark Cards was doing just fine in 1989 when the head of its core business looked over the horizon and saw trouble. The once-homogeneous greeting card market had fragmented into numerous markets se...

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Life is Short and Art is Long for Taxes, Too

Published August 30, 1994 Michael J. A. Smith |

When Jim Wallace died, he left $600,000 of his estate tax-free to his children, and the balance of his property to his wife, Sarah. This estate was valued at $7 million, including $2 million worth of...

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What Should Come First--Family or Business?

Published August 30, 1994 Leon Danco |

Years ago as a young man I owned a small chemical business in Connecticut that took almost every minute of my time and every ounce of my energy. My wife, Katie, and our two children suffered greatly ...

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A Shopping Guide to Saving on Long-Distance Calls

Published August 30, 1994 Irving L Blackman |

In 1984 the U.S. government divested the nation’s telephone industry. Since that time, AT&T has lost 40 percent of the long-distance industry’s $59 billion market to new kids on the block, mos...

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The Scott Family of Atlanta Battled Racism with Integrity

Published August 30, 1994 Mark Fischetti |

In 1928, with help from his four brothers who had followed him from Mississippi, William A. Scott II began publishing The Atlanta World, a weekly newspaper for black readers that countered the often ...

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To Honor and Obey at The Office

Published August 30, 1994 Patricia W. Hamilton |

As anyone who has done it knows, running a small business is a stressful undertaking. The hours are long, the pay is meager—at least in the early years—and the worries, constant. And when it’s a...

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Kids Should Feel Free to Follow Their Bliss

Published August 30, 1994 Ivan Lansberg |

In the garage of my parents’ home in Venezuela there are some old trunks that have been there for as long as I can remember. The trunks contain unused laboratory equipment that belonged to my grandf...

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The Top 10 Excuses for Not Letting Go

Published May 30, 1994 Mike Cohn |

Challenged to “let go” by members of the younger generation, many senior business owners come up with creative excuses for staying in the saddle. We've organized the excuses we hear most often int...

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The Gold in Golden Pond

Published May 30, 1994 Mark Fischetti |

Starting with an inheritance, Robert B. Pamplin Jr. made his first million in the stock market before he graduated college. He then parlayed his earnings by buying and selling timberlands and farms, ...

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The Trustee of Your Dreams

Published May 30, 1994 Ross W. Nager |

Many successful family business owners put plenty of thought into estate planning. They grapple with complex, tax-driven planning techniques. They struggle with concerns about family-member relations...

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What Your Kids Must Know That You Never Did

Published May 30, 1994 Leon Danco |

In my consulting career I have worked with many business owners who came from poor immigrant families and knew what it meant to be hungry. Most were not very well educated, but through a lifetime of ...

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Taking Charge in a Disaster

Published May 30, 1994 Howard Muson |

Larry Lussky: You're handed the helm of the Titanic right before you're going to hit the iceberg. Richard Francis: You're not handed the helm. You have to pry off the fingers of the guy steer...

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What You Can Learn from Jackie O's Will

Published May 30, 1994 Louis H. Hamel Jr. |

Soon after Jacqueline Kennedy Onassis died, reporters lined up in the Surrogate's Court in lower Manhattan to purchase a copy of her will, which was a public document. But to estate planning lawyers t...

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Glue to Bind Generations

Published May 30, 1994 Deanne Stone |

In the public's mind, private foundations are billion-dollar money machines funded by America's super-rich families. In reality, most of the estimated 20,000 family-managed foundations have assets of...

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