In for the long haul : family business succession at HaulageCo

This is a case about family business succession. Because many successions fail, the 'problem of succession' is a key issue in the family business field (see Aronoff 1998; Bird eta/. 2002; Dyer & Sanchez 1998; Sharma 2004; Zalu·a & Sharma 2004). Indeed, from the non-family business literature, we know one third of relay successions - like this case where there is an identified successor - will fail, with the prospective CEO leaving before succeeding the incumbent CEO (Cmmella & Shen 2001). Research on next generation family business members is limited. Successor ath·ibutes (Chrisman, Chua & Sharma 1998; Sharma & Rao 2000), as well as various characteristics such as socialisation (Garcia-Aivmez, L6pez-Sintas & Gonzalvo 2002) a11d gender (Haberman & Danes 2007; Vera & Dean 2005) have all been considered to play a role. So too have successor intentions (Stavrou & Swiercz 1998), motivation (Le Breton-Miller, Miller & Steier 2004), commitment (Sharma & Irving 2005) and transformation from follower to leadership (Cater & Justis 2009). In this case, by outlining the socialisation of the successors, explanations of their motivations for joining a11d their current employment we can begin to see some of the underlying mechanisms at work motivating the next generation to join and stay in the family business.

Make-or-break : work and family interface and wellbeing among small business owners

This study responds to calls for research on work-family aspects in entrepreneurship research. Our study examined the role of work-family conflict and enhancement on small business owners’ (SBOs) wellbeing. We found work-family has negative direct effect on mental health, job and family satisfactions. Furthermore, we found that under high level of work-family conflict condition, SBOs who perceive a greater level of work-family enhancement would feel more satisfy with their life, job as well as family aspects. Interestingly, under high level of conflict, even SBOs perceive greater level of enhancement, it would not lessen the negative impact of the conflict on their mental health. These results suggest that once psychological health is harmed by work-family conflict, its negative consequences remain unchanged.

Gottschalk Family on porch of Kurhaus Brunig; Norderney, Germany. Business Establishments; Hotels

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Gottschalk Family on porch of Kurhaus Brunig; Norderney, Germany. Business Establishments; Hotels

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Stepping into my shoes: Generativity as a mediator of the relationship between business owners' age and family succession

The authors investigated generativity – the concern in establishing and guiding the next generation – as a mediator of the relationship between family business owners' age and succession in family businesses. Data came from 155 family business owners in Germany from different industries between the ages of 26 and 83 years. Results showed that age was positively related to generativity, and that generativity, in turn, positively influenced an objective measure of family succession. Generativity fully mediated the positive relationship between age and family succession. The findings suggest that generativity is an important psycho-social construct for understanding ageing, careers and succession in family business settings.

Seixas family papers, undated, 1746-1911, 1926, 1939.

The collection contains items relating to individual members of the family as well as the Seixas family in general. Included are papers of the following persons: Isaac Mendes Seixas (1708/9-1780/1), a copy of A voyage to Hudson's--Bay, by Henry Ellis, inscribed with his name on the title page, along with additional inscriptions on the end papers (1748); and a daily prayer book printed in Amsterdam (title page missing), with an inscription on the first page indicating that the book was owned by Seixas in 1758/9, and subsequently by his grandson, Theodore J. Seixas, in 1816/17.

Transfers of Family Businesses to Non-Family Buyers - The Selling Business Family Perspective

This study focuses on business families and how they handle transitions such as business transfers. It also tries to shift the balance of research away from successions and towards business transfers as a key topic for family business researchers. In addition, it contributes to the family business research field by further highlighting the importance of the various different contributions in the family business from business family members other than the entrepreneurial founder. Based on interviews with both business family members and business brokers, it appears as important for business families who are selling their family business that it is managed in a similar way in the future regardless of the shift in ownership and management. It is also important that the employees can stay with the business. However, employees are seldom regarded as potential buyers of the family business; most preferably, from the point of view of business family members, this should be somebody who is similar to themselves. Business transfers can be lengthy processes, but once the family business is sold, previous owners most often want to leave the family business. This disengagement can be difficult for business family members if they have not managed to build up some other identity outside the family business environment. Money may compensate for the loss in the short run, but something else is needed in the long run, since the management of money is usually not perceived as that interesting. A family business transfer can have great influence on the members of the business family who is selling, and therefore it is suggested that personal due diligence could be of some help when planning the transfer. That tool can help business family members to analyse their own personal situation, but it may also make it easier to understand how the other business family members feel about the forthcoming change. Everyone is influenced in different ways during a family business transfer, and awareness of this fact may make it easier for the whole business family to adjust to their new environment.

Clendenan-Thompson family fonds

Daniel Clendenan (1793-1866) was the son of Abraham Clendenan, a private in Butler’s Rangers. He was married to Susan[na] [Albrecht ] Albright, daughter of Amos Albright. Daniel and Susan[na] had twelve children and belonged to the Disciple Church. In 1826 Daniel Clendenan purchased Part lot 14, Concession 6, Louth Township from Robert Roberts Loring. On this property he built a home and conducted the business of blacksmithing and along with William Jones operated a lumber mill. Volume 1 and the first part of Volume 2 are Daniel Clendenan’s account books. Daniel and his wife Susan are buried in the Vineland Mennonite cemetery. Daniel and Susan[na]’s youngest daughter, Sarah, married widower Andrew Thompson (1825-1901), son of Charles and grandson of Solomon. Andrew Thompson had settled in the Wainfleet area in 1854 and had owned a mill in Wellandport. Daniel Clendenan, in ill health, passed ownership of Lot 14, Concession 6, Louth Township to his son-in-law Andrew Thompson. Robert Roberts Loring, the original owner of lot 14, concession 6 in Louth was born in September of 1789 in England. He joined the 49th Regiment of Foot as an ensign in December of 1804 and arrived in Quebec the following July. He served with Isaac Brock and Roger Sheaffe. In 1806 he was promoted to lieutenant. Loring was hired by Lieutenant General Gordon Drummond and accompanied him to Ireland in 1811, but the outbreak of war in the States in 1812 drew Loring back to Canada. On June 26, 1812 Loring became a captain in the 104th Regiment of Foot. On October 29 of the same year, he was appointed aide-de-camp to Sheaffe who was the administrator of Upper Canada. During the American attack on York in April 1813, Loring suffered an injury to his right arm from which he never recovered. In December of 1813, Drummond assumed command of the forces in Upper Canada and he appointed Loring as his aide-de-camp, later civil secretary and eventually his personal secretary. Loring was with Drummond in 1813 at the capture of Fort Niagara (near Youngstown), N.Y. He was also with Drummond in the attacks on Fort Niagara, settlements along the American side of the Niagara River, and then York and Kingston. In July of 1814 he was promoted to brevet major, however he was captured at the Battle of Lundy’s Lane and he spent the remainder of the conflict in Cheshire, Massachusetts. One of his fellow captives was William Hamilton Merritt. Loring remained in the army and had numerous military posts in Canada and England. He retired in 1839 and lived the last of his years in Toronto. He died on April 1, 1848. Sources: http://www.biographi.ca/en/bio/loring_robert_roberts_7E.html and “Loring, Robert Roberts” by Robert Malcomson in The Encyclopedia Of the War Of 1812 edited by Spencer Tucker, James R. Arnold, Roberta Wiener, Paul G. Pierpaoli, John C. Fredriksen

The influence of cultural attributes on intergenerational succession in the Chinese-Australian family business

Research on succession in family business has been traditionally concentrated on planning and strategies in terms of management, ownership and governance. There is an increasing concern on the family influence on the process of succession. This paper discusses the role that the family culture plays in sustaining a family's commitment to its business. In particular, the family business is a prominent form of organisation among the ethnic Chinese expatriate business families. Since the I 980s, under the business migration programme, the increase of Chinese migrants has contributed significantly to the cultural landscape of Australian. This paper chooses Chinese-Australian family businesses to explore their cultural characteristics as a strong family influence on the practices of pas sing on the business to the next generation.

Business valuation practice issues under Family Court of Australia proceedings

The study investigated the valuation of businesses valued for property settlements in the Family Court of Australia and related issues. The findings have important implications for the Family Court of Australia, the legal profession and the accounting profession in highlighting deficiencies in valuation practice at various stages of the settlement process.