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June 26, 2013

Family business should not be confused with small business in the US

Size matters in the US, which is home to some of the world’s biggest family businesses. The country’s five largest family-controlled firms – Walmart, Ford, Cargill, Koch Industries and Comcast – had combined revenues of $911.9 billion (€694.8 billion) in 2012, more than Indonesia’s GDP.

May 10, 2013

The Ford family has retained control over the eponymous automaker, despite a growing number of shareholders voting in favour of ending dual-class shares. 

The Ford family has retained control over the eponymous automaker, despite a growing number of shareholders voting in favour of ending dual-class shares.

At the company’s 58th annual meeting, 33.4% of shareholders, the highest tally ever, backed the proposal to end the class of shares that allows the family to control Ford Motor. Last year 29.5% voted against the company’s dual-share structure.

April 26, 2013

Kering and Ford record mixed results for the first quarter of 2013, with figures varying greatly by region and division; Pernod Ricard reported growth in its third quarter.

Kering and Ford record mixed results for the first quarter of 2013, with figures varying greatly by region and division; Pernod Ricard reported growth in its third quarter.

PPR/ Kering
In Paris, luxury and lifestyle group Kering said revenues rose €2.4 billion, up 3.1% on a comparable basis to the first quarter of 2012.

Turnover from its sport and lifestyle division fell 2.5%, mainly due to slow sales at Puma, but revenues at Kering's luxury division grew 6.4%, with growth in all geographic regions.

March 1, 2013

The families behind a number of high-profile businesses have reorganised their shares recently, with the Fords transferring stock to family trusts and Rupert Murdoch selling some of his voting shares at News Corp.

The families behind a number of high-profile businesses have reorganised their shares recently, with the Fords transferring stock to family trusts and Rupert Murdoch selling some of his voting shares at News Corp. Meanwhile, the Piech family has gifted Volkswagen employees some of its voting rights.

Ford
Bill Ford, fourth-gen executive chairman of the eponymous carmaker, has transferred some of his class B voting stock into trusts set up for his children for estate and planning purposes.

January 30, 2013

More financial results have come in for 2012, with the profits of family-controlled H&M, Fiat and Ford buffeted by Europe's continuing economic problems. Meanwhile, Associated British Foods – run by the Westons – had a strong start to 2013.

More financial results have come in for 2012, with the profits of family-controlled H&M, Fiat and Ford buffeted by Europe's continuing economic problems. Meanwhile, Associated British Foods – run by the Westons – had a strong start to 2013. 

December 13, 2012

When the oldest known model of a Ford car went up for auction, one man was on a mission to make sure he got his hands on it.

When the oldest known model of a Ford car went up for auction in October, one man was on a mission to make sure he got his hands on it.

And no, it wasn’t some celebrity with a penchant for Fords. It was Bill Ford, the great-grandson of Henry Ford, the founder of the eponymous carmaker.

Bill revealed he was the buyer of the 1903 Model A as part of an employee event to kick off the 150th anniversary celebration of Henry’s birth.

November 6, 2012

Two American family businesses have taken different approaches to their succession planning, with Sheetz relying on its owners while Ford will continue to put its faith in non-family Alan Mulally. 

Two American family businesses have taken different approaches to their succession planning, with Sheetz relying on its owners while Ford will continue to put its faith in non-family Alan Mulally.

Joe Sheetz, presently executive vice-president of finance and store development, will become president and chief executive of convenient store chain Sheetz next year.

October 31, 2012

Economic woes are no doubt having an impact on the performance of family businesses around the world, but some companies are posting figures that are simply poles apart.

Economic woes are no doubt having an impact on the performance of family businesses around the world, but some companies are posting figures that are simply poles apart.

ArcelorMittal, the family-controlled steel and mining company, said sales fell to $19.7 billion (€15.1 billion) for the third quarter of 2012, from $24.2 billion for the same period last year.

October 29, 2012

It’s been a case of winning some and losing some for family businesses across the globe, through a series of acquisitions, closures and deal-breakers.

It’s been a case of winning some and losing some for family businesses across the globe, through a series of acquisitions, closures and deal-breakers.

Leading the way is media group Bertelsmann, controlled by the Mohn family, which is linking up with UK rival Pearson.

The agreement will see the merger of Random House and Penguin, respectively the publishing arms of Germany’s Bertelsmann and Pearson.

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