In this issue
This year, business leaders in all sectors were tested as the COVID-19 pandemic challenged them to keep revenues coming in and circumvent supply chain disruption while taking measures to ensure the safety of employees and customers.
Tucked away on a once-trendy, once-forsaken, now-trendy-again street in Washington, D.C., stand two national monuments perhaps less publicized but certainly as beloved as the museums and memorials that make the nation’s capital a top tourist destination.
Even if you don’t live in Greater Philadelphia, you may be familiar with Jeffrey Brown, a fourth-generation grocer who is chairman and CEO of Brown’s Super Stores. About half of the 12 ShopRite and Fresh Grocer stores Jeff operates are located in “food deserts” — urban areas where residents lack access to stores selling fresh food.
Longstanding family conflict can bring a family business to its knees. It saps energy and happiness and holds back the business from functioning optimally. The first step in resolving longstanding conflict is recognizing that the consequences of avoiding an issue are worse than the emotional discomfort of discussing it. Let us look at an example of a family that succeeded in resolving longstanding conflict.
Family business owners are typically laser focused on building a successful, competitive, innovative company that will grow and flourish over time. However, an interesting thing can happen as a family business becomes successful. Over time, a family firm can take on a role beyond being an operating company. It can also begin to function as a family office.
Second-generation family member Lynn Houston Moore has been named CEO of HJI Supply Chain solutions, based in Louisville, Ky. Her promotion marks the culmination of a six-year succession planning strategy, the company said in announcing the appointment.
Generation of family ownership: Second.
Annual revenues: Just under $50 million.
Number of employees: 650.
First job at this company: Maintenance. We bought the business from another company and were scrambling to survive. I did everything. Even when I became administrator, I still wore a toolbelt. People sometimes have no idea what one had to do to make it in the old days.
At what age? 17.
The Business: Ralph’s Italian Restaurant, located in South Philadelphia, is the oldest continuously operating Italian restaurant in the United States. The previous holder of the title, Fior D’Italia in San Francisco, closed in 2012 and reopened in December of that year under its fourth owners. It closed again temporarily during the COVID-19 pandemic.
There are more than 1.3 million lawyers in the United States, so most likely you know, or are even related to, a lawyer you might ask to help with a legal problem or challenge you are facing in your business or family. While proximity and familiarity can be valuable, they are not the best criteria for hiring a lawyer. It is important to understand the correct criteria for making this important decision.