In this issue
After Katharine Graham died last July, she was widely eulogized for her journalistic courage and her business acumen. But the celebrated former publisher and chief executive officer of the Washington Post was something else as well: She was an extraordinary family business owner.
Because family firms mix the demands of business with the needs of their owning families, they're often conflicted and difficult to manage. Mrs. Graham faced the many issues of leadership that are unique to family businesses and resolved them with intelligence and grace.
When it comes to mergers and acquisitions, family businesses usually think of themselves as potential targets, not acquirers. But now may be the perfect time to start thinking more like a potential buyer.
Several economic factors are converging to create a buyer's market:
At 34, Gina Gallo is the most visible of the 15 third-generation Gallos currently working for the E&J Gallo Winery in Modesto, Calif. She's the company's first female winemaker and the face of its TV ads. She was also especially close to her founding grandfather, Julio Gallo (she was injured in the 1993 truck accident that killed him). We caught up with her during a recent promotional tour.
When you were growing up, did you always think, “This is what I want to do"?
As much as I tried to leave my work behind at the end of the day, I'm sure my girls heard more shoptalk than most kids do. I just wasn't able to turn off my dreams at the end of the day. That's not all bad. Certainly, it's preferable to coming home at the end of the day feeling beat up and wiped out.