In this issue
"Something my father did that was brilliant was that he included all of us in this process. He really handed it over to the four siblings and said, 'I want you to figure this out; it's going to be yours.' "
—Susan Curtin, describing how her father, Dave Power, deployed the wealth from the 2005 sale of J.D. Power & Associates to McGraw-Hill and encouraged the formation of family governance structures (May/June 2014).
Detroit-based Marine Pollution Control (MPC) has held steady through the industry's boom-and-bust cycles over the last 25 years. The company has continued its work to advance the field. It employs up to 65 people, depending on project staffing needs. Annual revenues, which were more than $10 million in 1989, have averaged $10.5 million annually over the past five years.
Every family that wants to sustain its enterprise must face the challenge of grooming its young people to be responsible stewards. The "twenty-somethings" and "thirty-somethings" profiled here demonstrate the high payoff of next-generation engagement efforts.
First profiled: Spring 2001
Houston-based Kanaly Trust was featured in Family Business Magazine twice in the past 25 years—once in 2001, when founder E. Deane Kanaly was struggling to develop a succession plan, and again in 2007, when a non-family CEO was appointed to lead the wealth management and financial planning firm after Deane's death.
The cover of the March 1990 issue of Family Business Magazine—the publication's third issue—featured Henry Bloch, co-founder of the H&R Block tax-preparation company, and his son Tom, who had just been named the company's president. "He has a tremendous business sense," Tom Bloch said of his father back in 1990, "and having had the opportunity to learn from him has given me a great advantage."