family businesses
Coverage of family businesses in the Nexus archive.
- Only 12% of family businesses stay in the family by the third generation. A Goldman Sachs chairman says optimism is the reason
According to Goldman Sachs, only about 12% of family-owned businesses reach a third generation still under family control. François-Xavier de Mallmann, chairman of Goldman Sachs’ Investment Banking division, explained that the biggest threat to these companies is not usually legal documents but often optimism. The complexity of maintaining control increases over time as business growth causes diverging interests between the family and the company.
- West Hollywood faces long recovery from massive water main break: 'It was like whitewater rapids'
A massive water main break under Sunset Boulevard in West Hollywood caused 17 million gallons of water to flood downhill neighborhoods, damaging family businesses and residents' cars and personal items. The incident was described as 'whitewater rapids' due to the intensity of the flooding.
- West Hollywood faces long recovery from massive water main break: 'It was like whitewater rapids'
A massive water main break under Sunset Boulevard in West Hollywood caused 17 million gallons of water to flood downhill neighborhoods, damaging family businesses and residents' cars and personal items. The incident has left the area facing a long recovery process.
- A giant succession wave is coming for family businesses
A significant wave of succession challenges is expected to impact family businesses, with many facing potential failure during transitions. The article highlights the risks associated with generational handovers in business ownership.