In my new novel, What’s Left, her great-grandparents parlay a hot dog shop into the purchase of a burger-and-fries joint at the edge of campus. Carmichael’s is a local landmark, even before her family takes over. And then they start buying up neighboring properties.
Her parents’ generation boldly sets out to enlarge on that base. They even buy out a dusty textbook store next door without quite knowing how it will fit into their business model.
Large or small, family-owned businesses stand apart from other company models. Upward mobility into management may be limited for non-family, for one thing, and succession from one generation to the next can impose special hurdles – few family-owned enterprises survive into the fourth or fifth generations. And then inheritance tax issues can hit heavily, if key players fail to prepare properly. And that’s before we get into sibling rivalries and family spats.
On the other hand, they can be more flexible in aiming at long-range results or adapting to change.
In my new novel, What’s Left, these all play into the story. Her family isn’t like other employers, for sure. And it’s primed for exciting big growth.
Mrs. Richardson had been yelling at the kid the fifth-grade girl who came around to our door begging money to pay the babysitter Mrs. Richardson yelled at the grandchild for three days, and spanked her then they were crying, in different parts of the building all the while, their phonograph repeated “the angels sing, glory […]
A three-year-old girl held a life-size Mr. ZIP’s cardboard hand in her own while waiting for Daddy or an interior lobby stoplight to change. Can we go now? These days, she must be my wife’s age. To continue, click here. Copyright 2015