by Laura Quinn, MBA ’14 Before coming to UNC Kenan-Flagler, I viewed my family business as a natural extension of my family. It was something always present – from dinner table discussions to summers working in the office to the workers I had known my entire life. But I had never taken a step back to reflect on the business in a deeper sense – thinking about its strategy, longevity, and future. During my two years at UNC Kenan-Flagler, the Family Enterprise Center taught me not only the importance of such reflection but more importantly they provided me the tools and the guidance to thoughtfully do so. I learned what questions to ask, and how to listen. I learned about Read More
Author Archives: Kristina Magnuson
Steve Miller, co-founder of the Family Enterprise Center at UNC Kenan-Flagler Business School, will present “The Transition Process: Preparing the Next Generation and Passing the Torch,” a webinar presented by the Family Business Consulting Group on Wednesday, June 11 at 1:00 pm Eastern. We have arranged for alumni and friends of the FEC to participate in the webinar for $75 (normally $129). Additionally, the first 10 registrants to use our coupon code will receive a complimentary live registration to another webinar within the year. From the registration page: “The next generation of your family likely has many important roles to play — within their lifetimes they may be an owner, employee, manager, leader or director. And certainly, all along, they’re Read More
More on Dean Shackelford’s visit by Jessica Fischburg, MBA ’15: Students in Family Business II were graced with the presence of our newly appointed Dean Shackelford, who spoke on the subjects of gift and estate taxes. This subject is especially important to family businesses as it may take years of advance planning to avoid large taxes upon death of family members or transfers of estates. While there is a rather large exemption to these taxes, when it does apply, it can really impact the financial status of the firm or the family. The class focused on some basic family wealth planning including details about the amount and types of exemptions that can apply, and also learned about some alternatives that Read More
We have a terrific line-up of experienced family business leaders and experts coming to Kenan-Flagler this spring. Please join us! Contact Cooper Biersach at firstname.lastname@example.org. Here is our list of upcoming class and roundtable lunch speakers: • March 25, 12:30-1:45: Father and son team, Steve and Durant Bell, Bell Partners • March 26, 2014, 2:00-3:15: Family Business Governance, Speaker: Dini Cecil Pickering, Vice Chair of Board of Directors, Biltmore Company, Asheville, North Carolina • April 1, 2014, 4:00-6:00: Independent Boards: Creation, Composition, and Utilization, Speaker: Roy Richards, Jr., former CEO and current non-executive Chairman, Southwire • April 2, 2014, 2:00-3:15: Governance/ Financial Considerations and Valuation, Speaker: Michael Jacobs, Founder & CEO, Jacobs Capital and Professor of the Practice of Finance, Kenan-Flagler Business School • April Read More
by Nick Mellott, MBA ’15 Students in Family Business I: Introduction to Family Enterprise were recently treated to a special guest presentation and discussion with Charles Luck IV, President and C.E.O. of the Luck Companies in Richmond, Virginia (quoted here last week in The Wall Street Journal). Mr. Luck shared with the class the firm’s background and also discussed how Luck’s Values-Based Leadership program has transformed the company. The Luck Companies are comprised of four business divisions including Luck Stone (aggregate producer), Charles Luck (architectural stone), Har-Tru Sports (clay tennis courts), and Luck Development Partners (real estate). The company was founded in 1923, and Mr. Luck still works closely with his father, Charles Luck III, who serves as Chairman. Mr. Luck’s Read More
Laura Solie Quinn, MBA ’14 and Family Business Club Co-VP, shares her impressions of a Family Enterprise Center lunch with Mike Griffin, BSBA ’87 and managing partner in Griffin Brothers Companies. As I walked to my car after the lunch, I reflected on the fantastic group conversation with Mike Griffin. After briefly sharing our backgrounds, Mike started the family business event by leading us through his own business journey. He candidly spoke of the challenges and successes of Griffin Brothers Companies. He then opened up the floor for questions. Immediately, first and second year MBAs started sharing intimate concerns about their own family businesses. “How do you approach your dual role as son and employee?” one student asked. ”Is passion in the company Read More
Brother and sister duo, Joy (BSBA ’09) and Carl (BSBA ’12) Ritchie, presented at the inaugural meeting of our newly formed Undergraduate Family Business Club. They came bearing Cheerwine and a wonderful presentation that summarized the company’s colorful history as well as their exciting future.
We have completed another great semester with a strong group of family business students. Highlights from the semester and recent student comments are on our Blog. Read our February FEC newsletter.Our new MBA Family Business Club VPs, Laura Solie and Kathryn Howlett, have already begun to plan some great opportunities for students for next year. See Upcoming Events. • Join our Linked in Group to receive occasional articles and helpful resources. • Visit our YouTube playlist to see video of recent students. Upcoming Events • MBA Family Business Club Happy Hour, Thursday, August 22, 7:00 • Second Year MBA Welcome Back Lunch, August 26, 12:30-1:45 • Family Business Roundtable Lunch, September 9, 12:30-1:45 • Family Business Roundtable Lunch, October 28, 12:30-1:45 • MBA Family Business Club Read More
In his third article in the family business series for Smart Manager, The Art of Letting Go*, Miller focuses on “leadership and ownership from one generation to the next in a family enterprise.” He looks to Ted Wentz (MBA ’08) who successfully started his own business (Firecraft) under the umbrella of his family’s business (Quadratec) to demonstrate how transgenerational entrepreneurship can generate growth and sustainability for a family firm. *First published in and reproduced with permission from The Smart Manager, India’s first world-class management magazine (www.thesmartmanager.com).
Caroline Lindley, BSBA ’14 and 10th generation member of Lindley Mills, Inc, one of the country’s major organic flour distributors and suppliers of King Arthur’s organic flour, reports on the Asheville Bread Festival and how the family business courses at Kenan-Flagler are helping her prepare for life back at the mills…. Before there was a United States of America, there was a Lindley’s Mill, in what today is Graham, North Carolina. In 1755 the mill was established to grind local farmers’ grain into flour for their families and the community. The methods have been updated for electricity instead of water power and our products are distributed nationally, but my father (Joe Lindley, a 9th generation descendant of the original founder), still Read More