No family reunion would be complete without a road trip, and no road trip would be complete without a stop at Stuckey’s, especially for restructuring folks who love a good comeback story. This is a tale of a family business with a fascinating history of twists and...
Family-owned businesses (FOBs) are a vital part of the U.S. economy, constitute the realization of the American dream for many, and play a critical role in the creation of generational wealth. There are 5.5 million FOBs in the United States, and they contribute 57% of the total gross domestic...
Family businesses are of immense importance for the German economy. According to the Institute for small and medium size business research (IfM), approximately 3.7 million companies belong to the so-called German Mittelstand, which is the backbone of the German economy. Around 95% of those medium-...
The same qualities that help the leaders of family businesses survive and thrive can also lead to their downfall. Stubbornness and determination can be strengths while building a business or leading it through change, but these qualities can also damage a company if they blind a leader to festering...
Family businesses offer a unique perspective in business management, which is often anything but textbook, exhibiting many attributes which often are at the root cause of their demise. Many of those attributes are common features of family businesses worldwide and don’t just apply to those in the...
Every month or so, another household name— e.g. , PG&E, Neiman Marcus, Hertz—commences a Chapter 11 case to restructure its balance sheet, reset its relationships with its creditors collectively, and leave its legacy problems in the past. The U.S. Bankruptcy Code is a carefully crafted and...
The Annual is here, and welcome to my homeland of the South! It’s finally time to reconnect in person with your fellow TMA members from every chapter around the globe, and in a safe and responsible way. I hope you are reading this as you hang up your favorite Zoom sweatpants and complete your plans...
In just a few weeks we will reunite and reignite at The TMA Annual in Nashville. This will be a grand reunion and bring together TMA family from near and far. With that in mind, welcome to this edition of the JCR , which focuses on family businesses, a topic quite apropos as we approach The Annual...
Family businesses have evolved significantly since their humble agrarian beginnings. Over time, family businesses have become increasingly complex and, for many, the bucolic family farmhouse has been replaced by corporate boardrooms. Today, family businesses are a critical part of the U.S. economy...
