Summer 2008 Contents

The rocky course of succession at Ping  John Solheim turned around his family’s legendary golf club company. But his biggest challenge was getting his father to loosen his grip.   — Dave Donelson

Continuity through change  The family members who own Laird Norton Company—nearly 400 of them—continue to function as a cohesive unit even though the firm has moved away from its original core business.   — Margaret Steen

America’s oldest family businesses  The highly anticipated update of our list, including an index by state and other features.   — Leah Kristie

Good governance is essential for a family and its business  The board manages risk and ensures that the business follows the right strategic direction. The family council’s ultimate responsibility is achieving continuity of family ownership through the generations.   — Jack Moore and Tom Juenemann

Rethinking my destiny  Ryan O’Reilly felt cornered by the expectation that he would work for the publicly traded, multibillion-dollar company his family had founded. He explains why he decided to do something else with his life.   — Ryan O’Reilly

Also in this issue
 

DEPARTMENTS

Publisher’s Page   First among equals   —Caro U. Rock

Openers   Ask the Experts: A son wonders whether to join his father’s firm. At the Helm: Kenneth Feld, chairman and CEO of Feld Entertainment.

Contrarian’s Notebook   The sheltered heir-apparent and the price of impatience; an unlikely heir returns to Toyota; tracking the New York Times; a Lauder calls it quits; Contrarian follow-up.   —Dan Rottenberg

Family Business Legends   An interview with Danny Wegman, CEO of Wegmans food markets.   —John Resnick

Survey  Succession challenges.   —Jayne A. Pearl

Toolbox  A survey finds that MBA students prefer public firms to private family companies; family business as seen through the eyes of the participants; planning your philanthropy for maximum impact.   —Barbara Spector

Directory   Advisers for family companies.

Profile  Smith Software Development: Just add water.   — Gwen Moran

Profile  Ale-8-One: Kentucky’s other favorite drink.   — Sally M. Snell

ADVISERS

François de Visscher:  Surviving the credit crunch.

James Olan Hutcheson:   The personal side of trusts.

Leslie G. Mayer:   The chief emotional officer.

John Hoffman:   Liquidity events.

Don S. Hershman:   Professionalizing your firm.

Dennis T. Jaffe:   Choosing a family successor.

Mike Henning:   Partners at the top.