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The Loss of a Family Business Icon The Loss of a Family Business Icon

– The passing this winter of Dr. Leon Danco, the pinnacle of the family business consulting field, inspires reflection on his life and the struggles and rewards of business survival.

Divorce is Likely in a Business, so Have a Plan Divorce is Likely in a Business, so Have a Plan

— Business distress and family trauma at the same time is like multiple organ failure. I dare say that a family business might be more likely to survive the sudden unexpected death of the major shareholder and CEO, than to survive his or her divorce.

Creative, Tenacious Entrepreneurs Fuel Economic Growth  Creative, Tenacious Entrepreneurs Fuel Economic Growth

– Few people today would argue the fact that it’s the entrepreneurs of this world who are truly responsible for most of the jobs created. Indeed, whether the companies make it to the list of the biggest companies or not, they—and the entrepreneurs who created those ventures in the first place—are the heart and soul of the engine that drives our economy. These creative and tenacious individuals are Corp!'s Entrepreneurs of Distinction.

Murdick's Fudge Marks Past and Plans Big for Future Murdick's Fudge Marks Past and Plans Big for Future

- Honoring the past while creating a vibrant future – that is the philosophy Murdick's Fudge owner Bob Benser Jr. has when he looks at his family’s current properties as well as future developments on one of Michigan’s brightest gems, Mackinac Island.

‘Breaking Up Is Hard To Do’  ‘Breaking Up Is Hard To Do’

– If you are looking to extricate yourself from a privately held business, there are a number of steps to take, regardless of the size and profitability of your business. A business “divorce” can be traumatic and the emotional, financial and legal issues can be very similar to those of a marital divorce.

Chicken or Egg, Horse or Cart, Family or Business? Chicken or Egg, Horse or Cart, Family or Business?

– Families that own businesses operate those businesses for the benefit of the family. Remember, It’s called a family business, not a business family.

Stormy Kromer Grows Clothing Line with Celebs, Social Media and Authenticity Stormy Kromer Grows Clothing Line with Celebs, Social Media and Authenticity

— Stormy Kromer has worked hard to develop a kind of lore around the Kromer name, establishing a brand that honors tradition, wholesomeness and a passion for the Great Outdoors. And it has built a devoted following among outdoor enthusiasts as well as some stars from Hollywood, including Bill Murray and Jeff Daniels.

How to Manage Non-Performing Uncle Joe How to Manage Non-Performing Uncle Joe

— What do you do about the family-member employee who just doesn’t perform? Be collaborative in positioning your family in your company and never put the round peg in the square hole.

Essential Lists for Family Companies to Live By Essential Lists for Family Companies to Live By

– Businesses are assets that can be bought, sold and liquidated. Families are a lifetime investment in love, support, nurturing and caring. Sometimes families aren’t meant to be in business together, and recognizing it before the family is destroyed makes good sense.

How Do You Move on From a Family Business? How Do You Move on From a Family Business?

- In addition to being aware of the economy and capital markets on a macro-level, as well as what is happening in their respective industries, owners of family businesses must consider their personal goals and the goals of their shareholders when it is time to move on.