Greg (left) and Gary Richard: "Each generation has lived, and treated the company, very conservatively."
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Autumn 2010
Reinvestment pays off
P.C. Richard & Son, a fourth-generation electronics store, attributes its success to its conservative fiscal policies.
—Dave Donelson
Trust in family enterprises
Trust is essential for smooth functioning of both the family system and the business system.
—Michael T. Hartley, Bonnie B. Hartley
Team-first management
At Virginia's Shamin Hotels, cousins Neil Amin and Jay Shah say the company's all-for-one philosophy springs from their immigrant parents' sense of urgency.
—Thomas W. Durso
A non-family CEO in the driver’s seat
Bob Egge realized his vice president/general manager was the best person to lead his nearly century-old family business, a key player in the automotive aftermarket. So, out of the blue, he stepped down from the helm.
—Margaret Steen
A long-playing legacy
Fidelitone Logistics began as a maker of phonograph needles. Today, the 81-year-old company is a conglomerate with annual revenues of $360 million--thanks to the entrepreneurial spirit of its family owners and non-family executives.
—Deanne Stone
The downside of wealth
Selling a business can make a family rich. The newfoundfortune brings new possibilities—and new challenges.
—Jayne A. Pearl, Richard A. Morris
Entitlement: Epidemic of our era
How does entitlement present itself? What are its causes and consequences? And how do we cure it?
—Paul Karofsky, David Karofsky
Gen Y: Engaging or enraging?
A cultural shift is occurring in the workforce as 75 million Gen Yers prepare to enter. Here’s how the newbies and their elders can manage the challenges.
—Greg McCann, Leah Sullivan
ESOPs offer liquidity solutions
Employee Stock Ownership Plans can create liquidity to resolve potentially contentious family business issues related to estate planning, cash for inactive family owners and funding for the business.
—Richard Houlihan
Also in this issue:
Departments
Brat patrol
—Barbara Spector
In-law integration
—Caro U. Rock
The ‘new’ HNW investor has always existed
A recently released report proclaims that wealthy individuals are becoming more involved in their investments. There is a flaw in this conclusion.
—Michael S. Farrell
At the Helm: Gavin Maloof
A few minutes with the vice chairman of Maloof Companies, Sacramento, Calif.
—Patricia Olsen
Autumn 2010 Toolbox
An attorney's viewpoint on family business practices.
—Barbara Spector
A thriving urban cash-and-carry
A fifth-generation Texas family with French roots found its niche serving the Hispanic market.
—Martha Miller
Advisers
How do your lenders see your company?
Family firms are often considered risk-prone. To protect your company in times of fiscal crisis, know the risks and avoid them.
—Robert F. Mancuso
Preparing your company for post-crisis growth
The downturn taught us an important lesson: Short-term growth without profit is a recipe for disaster.
—Francois de Visscher
Four landmarks of a healthy succession landscape
Are your third- or fourth-generation members ready to lead? Here are the keys to assessing their capabilities.
—Ellen Frankenberg
Outside directors’ role in family business
Family firms can benefit from independent directors’ expertise. Here are tips on how to get the most benefit from their advice.
—Stephen M. Honig
Life insurance: A significant estate-planning vehicle
The tax and investment advantages and the cash payout provided by a death benefit can help achieve your planning goals.
—Jennifer M. Smith
