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Tune In, Turn On. Dad: Drop Out!
The television show that made Michael J. Fox a star, Family Ties, had a simple premise: What happens when children are more conservative than their parents? Fox's character, a teenager named Alex, wa...
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Family Banking
How can a family business in the third generation and beyond meet the financial needs of dozens of shareholders, in and out of the business, who may have nothing in common but blood and history? One ...
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Fare Maiden
UNTIL TWO YEARS AGO Kate Dickholtz lived a comfortable life as a suburban housewife. After her husband, Art, left for work each morning, she filled her days with cleaning, gardening, church and club ...
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Family Connections
"GOOD EVENING. Welcome to Roseland. Jaime Hernandez over there at the bar can make you a drink. Have a song request? Ask Ruben Hernandez, our deejay. Noella Hernandez can find you a snack. And if you...
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In Dad We Trust
It was a year of living dangerously in the Maryland household of Robert E. Patton. Upstairs, the 57-year-old entrepreneur was recuperating from a heart attack. Downstairs, two of his ten children, 21...
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How Father-Son Battles Helped Shape Today's IBM
AIthough T.J. Watson never owned more than 5 percent of IBM, he always considered it his business — he did, that is, until he began to lose it to his son, Thomas J. Watson Jr. The son's recent book,...
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The Bagel Barons
Last month my two college-age daughters, Tracy and Meredith, asked me what happened to the family bagel business. They remembered my father visiting, always carrying a bag full of bagels freshly bake...
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Smart Borrowing
Many bankers aren't in a good mood these days. Some banks, smarting from losses on their portfolios and feeling the sting of federal regulators, are getting much tougher when it comes to making loans...
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Inn Love
A fire flickers on the hearth as my wife sits in its warmth, idly doing a piece of needlework. A cueball clicks on the splendid 1918 Brunswick slate table beyond the chintz-covered couch as our 10-ye...
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Log Jam
Two sons are near-polar opposites in temperament, personality, and business style. A toe-to-toe argument between them has put everyone in the company on edge. Fearing the tension could paralyze the b...
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Facing Up to the Perils of Patriarchy
When I give a talk to family business owners in Mexico, I almost never find a company in the fourth generation. The tales of famous split-ups in family companies make constant cocktail party conversa...
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Strategy and Tactics
0ne of my clients uttered the damning words just a few weeks ago: "I don't believe strategic planning makes sense for a business like mine. I'm worried that all this planning will overwhelm my instin...
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How to Hold a Family Feud
The family feud is usually considered the bane of family business. That's because the typical feud can be a nasty thing to behold — petty, dismal, and disruptive. Not all family feuds, howeve...
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The Forbes Mystique
With the death of his father last winter, Malcolm Stevenson "Steve" Forbes Jr., 42, inherited control of the elegant yacht, the Highlander; properties from Fiji to France; hot-air balloons; motorcycl...
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Fiscal Fitness
p>There was little to hold them back. After Congress loosened the regulatory reins in the early eighties, savings and loan executives leaped onto the same high wire as the rest of the financial co...
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Tolerating Alcohol and Drugs: A Deadly Habit
Not long ago, a woman and her husband's brother came to Ed Storti for help. The San Pedro, California, counselor is an interventionist. It is his job to convince drug and alcohol addicts to enter trea...
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Strategy is the Key to Staying in the Game
Back in the fifties, a Maryland chicken farmer was contemplating how he could make a go of a business that he had taken over from his parents. Chicken in those days was, well, just — chicken; e...
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Starting Over from Ground Zero
A menacing barbed-wire fence surrounds the 60-acre site amid the scrubby pine barrens. Along the fence, ominous No Trespassing signs warn of explosives and the dangers of smoking. Inside, the nerve c...
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Debra Benditz's Pipe Dream?
After five years at her dad's company in Houston, which supplies pipe for drilling oil wells, Debra Benditz itched to have a larger say in how things were run, but her father tended to wave off her m...
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How the Culvers Found Their Niche
The early morning scene in the Middlebury, Indiana, farmhouse, just 10 miles from the Michigan border, could have been painted by Norman Rockwell. While Marilyn Culver, 61, bustles about her modern k...
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