Ownership & Leadership Transition
The Stroh family was successful by many measures. A German immigrant founded the brewery business in the 1850s, which survived Prohibition by expanding into ice cream and grew to be the third-largest beer business in America by the 1980s. Yet by 1999, Stroh Brewery was sold off and the family business ended. Frances Stroh, part ...
Posted by Mark Johnson
Governance & Business Operations
Keith Baldwin on Apr 17, 2017
Family-owned businesses that have independent board members are frequently among the best-managed and best-governed. They have reached a level of maturity where family members recognize that outside voices provide stability, objectivity and protection from certain business risks. Let’s define what “independent” means for our purposes. Typically, an independent director is not ...
Posted by Keith Baldwin
Posted by Ashley Brown
Doug Lloyd on Aug 22, 2016
In many states, Living Trusts are a person’s key estate planning document. Living Trusts are created to hold assets during life and then dispose of those assets at death according to the person’s directions (here, we will call the person making the Living Trust the “Grantor.” Living Trusts thus operate ...
Growth & Exit Strategies
Ashley Brown on Mar 08, 2017
DWT recently hosted “The 12 Most Common Mistakes to Avoid in Selling Your Business,” a seminar examining the common challenges affecting owners of family and closely held businesses on the subject of succession and estate planning. The seminar was led by a team of panelists, including DWT attorneys Keith Baldwin ...
Joseph Weinstein on Apr 24, 2017
On Tuesday May 16th, 2017, Davis Wright Tremaine will host a Family Business Legacy Series featuring Mike Garvey and Rene’ Ancinas. Perhaps the greatest challenge a family business faces is the successful transition of ownership and management to the next generation. Many business owners are unwilling or ill equipped to address the ...
Posted by G. Matthew Loftin
Kennard Noyes on Sep 06, 2016
Successful companies depend on finding and retaining talented employees. Attrition, on the other hand, is expensive. A constantly revolving door means more money and time spent training new employees, makes it hard to build effective teams and can undermine company morale. Family businesses may have a particularly difficult to path ...
Posted by Mary Drobka & Paula Simon