Newsroom
May 2008
Center for Family Business member Walt Legenstein of Certified Carpet along with his three sons were recently profiled in the May 25, 2008, Lancaster Sunday Newspapers BOOMers special insert section. The article’s focus was on succession planning and “passing the torch” to the next generation. Click here to read the full article.
April 2008
A Must Read!
Looking for the latest on the power of family businesses? Published in 2006 by the Harvard Business School Press, Miller and Miller’s Managing for the LONG RUN is a text written for business managers using family controlled companies as the model for success.
The authors describe how family controlled firms outperform all other firms in:
- Revenue Growth
- Market valuations
- Return on Assets
- Return on Equity
- Total Shareholder Returns
The book studies 40 family companies including Cargill, Nordstrom, S.C. Johnson, Hallmark, Michelin, Estee Lauder, Tyson Foods and IKEA, to name a few. Best yet, the authors explain how some of the apparent “quirkiness” of family businesses actually holds the key to success and provides a model that other non-family businesses should adopt if they want to manage for the long run.
One reviewer from the Columbia Business School, John O. Whitney, writes “This groundbreaking study demonstrates how companies with strong family traditions outperform the market year after year. Danny and Isabelle Miller have made a magnificent contribution to management literature. It will change how you think about your job.”
But, some of this, we knew already? Didn’t we?
March 2008
TWO CENTRAL PENNSYLVANIA DISTRIBUTORS TO CO-HOST TRADE SHOW FOR MANUFACTURING, CONSTRUCTION, AND COMMERCIAL CLIENTS
Harrisburg, PA – Member Schaedler Yesco Distribution, Inc. and Industrial Piping Systems will co-host a trade show on April 15 & 16, 2008 at the Radisson Penn Harris Convention Center in Camp Hill, PA free of charge to businesses in the greater Mid-Atlantic region.
Over 90 manufacturers will showcase thousands of products and solutions from each distributor’s line of product offerings including electrical, lighting, industrial automation, and datacomm products (Schaedler Yesco) along with pipe, valves, and fittings (Industrial Piping). The two-day event will also include over 65 technical seminars and hands-on labs focusing on industry specific issues including NEC Code changes, personnel safety, EPAct, and more. Attendees will also learn more about “GREEN” for Pennsylvania from special exhibits, seminars, and Schaedler Yesco’s Energy Solutions Services Team. For more information or to register for the event, attendees can visit www.sydist.com. To request an event program, please send your mailing address to email stshudy@sydist.com. Schaedler Yesco Distribution, a leading Electrical, Lighting, DataComm Networking, and Industrial Automation supplies distributor has provided service to Central Pennsylvania for over 80 years. Phone: (717) 233-1621; Fax: (717) 233-1626; Web: www.sydist.com
Editor’s Note: For information on Expo 2008 visit http://www.sydist.com/Portals/0/Expo2008/home.htm
February 2008
10 Facts About The Family Owned Business* from the Cox Family Enterprise Center at Kennesaw State University in Kennesaw, GA:
- 80% of the world's businesses are family owned.
- In the past five years, Americans have started mare than 3 million family businesses.
- Family-run businesses account for half of the nation’s gross domestic product.
- Nearly 35% of family-owned businesses are Fortune 500 companies including Ford, Wal-Mart and Anheuser-Busch.
- Approximatley 60% of all public companies in the US are family controlled.
- Family-owned businesses account for 60% of total US employment, 78% of all new jobs, and 65% of all wages paid.
- Many family businesses were started after WWII.
- There has been a significant increase in new family businesses since September 11, 2001.
- More than 25% of family firms expect the next CEO to be a woman.
- More than 30% of all family owned businesses survive into the second generation.
*Based on research we have conducted every year since 1985.
You can now purchase Wolfgang candy when you check-out at Linens 'n Things. Click here to read the Chocolate Tymes.
February 8, 2008
Gary Houck from Houck Group, Inc. pointed out this slideshow on wgal.com. Houck Group is dismantling a Gettysburg monument that was damaged by lightening. The monument will be repaired and then rebuilt. Click here to read more.
January 2008
The ABC Extreme Makeover- Home Edition project in which Hursh Painting Co. Inc. participated will be featured Sunday, January 20, 2008 at 8:00 p.m. and will be shown on Harrisburg and Philadelphia ABC stations. ABC Channel 2, Baltimore will have a one hour "behind the scenes" show which will air at 7:00 p.m. Phil Hursh, president of Hursh Painting Co., Inc. said, "The project was a lot of fun, so tune in and watch! And yes, the riding barn and the house were really done in 6 days!!!!!!!"
December 2007
John W. Lloyd, President and CEO of our sponsor, MANTEC, Inc., wrote an article titled, What Happens when the Leadership Leaves? The articles asks the question, “Where is the next generation of company leadership going to come from?” Click here to read more about the question that all family businesses must answer.
November 2007
Recommended Reading: for a fun exploration of Leadership, Creativity and Team Building, read Benjamin Zander’s The Art of Possibility. An acclaimed author and lecturer to business leaders, Zander is the highly regarded conductor of the Boston Philharmonic, who has been featured on 60 minutes and by the BBC. In his book, Zander uses the metaphor of conducting to discuss managing big egos, helping players to work as a team, and inspiring greatness. It’s a fun and interesting read!
Member company Schaedler Yesco Distribution, Inc. was recently named as one of the Top Fifty Fastest Growing Companies in Central PA. Click here to read more.
Schaedler Yesco Distribution, Inc. was also named one of the Best Places to Work in PA, for the fourth consecutive year. Click here to read more.
Congratulations to Schaedler Yesco Distribution, Inc. for these well-deserved awards!
October 2007
Wolfgang Candy Company Provides Sweet Support During Breast Cancer Awareness Month. Click here to read more.
Member company, Yurchak Printing, Inc. has moved into a new location in Landisville, PA. Click here to read all about it.
September 2007
The Central Penn Business Journal announced the recipients of the 2007 Top Fifty Fastest Growing Companies. Two of the Top Fifty winners were Center for Family Business members - #3 Worley & Obetz and #26 Schaedler Yesco Distribution, Inc. Congratulations!!
Center for Family Business member James Craft & Son, Inc. welcomes fifth generation, Jessica L. Craft into the company. Click here for further details.
Wolfgang Candy stars on the Food Network on September 10. Click here to access their newsletter .
August 10, 2007
The Central Penn Business Journal showcased the Center for Family Business in the article "Elizabethtown College reaches out to family-owned firms". Find an e-copy by linking to the journal's website www.centralpennbusiness.com and typing the title in the search bar.
August 2007
Congratulations to Lobar Inc's on its 40th anniversary The Eichelbergers say their greatest strength is their people, many of whom have worked for them for 10 , 20, and 30 years. Article appears in The Central Penn Business Journal . To read the article go to http://www.centralpennbusiness.com/
Congratulations to Fulton Bank who is celebrating 125 years in 2007. They began in Lancaster County and have expanded to 11 other counties with more than 90 locations.
The Family Business Advisor featured an article entitled "Mom in the MIddle" by John L. Ward, co-founder and principal of the Family Business Consulting Group, Inc. Click here to read the article.
July 12, 2007: Our New Look
The Center for Family Business has undergone rebranding with North Star Marketing. From a brand new website to a new dynamic logo, the look reflects our goals for the future and our commitment to serving family businesses.
July 2007
Laird Norton Tyee, a wealth management firm, has completed the 2007 Family Business Survey. The comprehensive survey monitors the state of family businesses while tackling tough issues through the compiling of statistics and best practices. The purpose of the study is to gain invaluable insight into the American family business landscape. As stated by Laird Norton Tyee, "It’s an acknowledgement of the past, a close-up on the present, and a roadmap to the future for anyone who cares about family-owned businesses." More information and a downloadable PDF of the survey results are available at www.familybusinesssurvey.com.