March/April 2018

In this issue

  • From slave labor to thriving business: The storied history of McKissack & McKissack

    In the fifth generation, twin sisters went separate ways professionally while keeping the family together.


    Women at the wheel

    Perseverance is the key to success for women whose family businesses operate in male-dominated industries.


    Barbara Moran-Goodrich was told she would never run her family’s automotive business because she was a woman. Her father told her this several times, in fact.

    Women's progress: Steady but slow

    In a book of family business cartoons published in 1990, women are depicted as nagging wives, wealthy widows, marriageable daughters and “Ms. Buxum,” the secretary. We’ve come a long way, baby.

    #MeToo can affect you, too

    The #MeToo movement, sparked by October 2017 articles in the New York Times and New Yorker detailing sexual harassment and assault claims against film mogul Harvey Weinstein, triggered an ongoing wave of allegations that has felled once-powerful figures in Hollywood, politics, the media, the hospitality industry and other fields.

    Privately owned family businesses should not ignore investor relations

    Visit the website of any publicly traded company, and you will find a link to the “Investor Relations” section. The purpose of the investor relations function is to promote effective communication between the company and its current and prospective investors. While the Securities and Exchange Commission requires public companies to make certain disclosures, the ultimate goal of investor relations is to ensure that the company’s stock is trading at a fair price. Privately held family businesses are not subject to SEC reporting requirements and have no public stock price.

  • Family corners the restaurant market

    The building at the corner of Caroline and Meigs streets in Rochester, N.Y., has been home to a number of establishments bearing the name “Dicky’s”: Dicky’s Restaurant, Dicky’s Bar and, now, Dicky’s Corner Pub.

    Richard “Dicky” Savaggio, the namesake, first opened a restaurant on the first floor in 1949. But the building’s history is far longer.

  • Celebration Corner: Scotchman Industries' 50th anniversary

    The Business: Arthur (“Art”) Kroetch, a native South Dakotan with an eighth-grade education, started working for farmers and ranchers and then opened a junkyard and repair shop. To keep busy between repair jobs, he began making a cattle oiler, a device that applies insecticide on the animals’ skin. He later shifted to making and selling gates, chutes and corral panels for use on farms.

  • At the Helm: Natalie Kaddas

    Generation of family ownership: Second.

    Company revenue: Between $5 million and $10 million.

    About the company: Kaddas Enterprises, a 100% woman-owned company, manufactures thermoformed plastic parts for a wide variety of industries, including medical, transportation and utility. The company has 25 employees.

    Years with the company: In the summer of 2018, it will be 10 years.

  • Dueling Perspectives: Governance for a family in transition

    The family that owns Milo B. Butler & Sons Ltd. is a legend in the Bahamas. The company’s founder, Sir Milo Boughton Butler (1906-1979), was the first Bahamian-born governor-general of the Bahamas; his picture is on the Bahamian $20 banknote. Sir Milo was also an entrepreneur who started out with a grocery in 1928 and expanded into a wide range of ventures, including livestock, ice delivery, rental properties and a nightclub.

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