More Family Business Crap

The situation with my family’s business keeps moving along.  It’s really so sad.  A company that was built and run by brothers who loved each other, and who would do anything to take care of their families, is being torn apart by their children.  It is now a virtual certainty that the company will not survive with all the cousins retaining their ownership and positions in the company.  It will probably survive in some way, but one side of the family will be forced to relinquish control. 

Among the losses:

  • 10 lbs. by me, 15 by my grandfather
  • tens of thousands of dollars in CPA and lawyers fees
  • hundreds of hours of sleep
  • countless business because attention is diverted elsewhere
  • all trust that family can be counted on, and a solid family business can provide a safe haven

i did some research and found out that only 8% of family businesses make it to a third generation.  That is incredibly sad.  Our parents and grandparents were builders.  We’re now scavengers and arbritagers.

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1 Response to “More Family Business Crap”


  1. 1 Dan Krohn August 7, 2008 at 11:10 pm

    A very sad story indeed. All closely held businesses should be set up with planning for this kind of future problem — familly businesses are no exception. In this day with fifty percent of marriages failing, family is certainly not what it once was.


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