“From Family Ownership to Growth or Chaos”
- Start-up, Growth, Succession and Transition

“Historically, involvement by families in business ventures has been the least understood aspect of new venture creation.” (Jeff Timmons, New Venture Creation). Ninety percent of all U.S. businesses are family dominated.

The Panel will focus on some of the issues important to starting, managing, and selling a family business:

ISSUES

• How do you start and then grow a family business while keeping owners, managers and employees focused?
• What red flags are waved to determine that all or part of the business is to be sold?  How is that decided within the family?
• What are the issues that would have to be addressed to determine whether to keep the family ownership in place
• What are the key decision making tasks necessary to negotiate with the right purchaser?
• How do you agree on a valuation and price and generally how is the funding structured?  How do the banks or other financial intermediaries play a role?
• How do you handle the transitioning of ownership and the post acquisition effects on employees, the market and the family?
• What are some of the human capital dynamics?

PANELISTS

Joe Herson –The Herson family business began 70 years ago. In its last year of operation as an entity, the Manhattan dealerships accomplished almost $200 million in sales revenue and sold nearly 2800 new cars.  Joe Herson retired in the latter part of 1999 when the family dealerships were sold.

Drew Greenblatt – President, Marlin Steel Wire Products.  Founded over 32 years ago, Marlin Steel Wire Products LLC ("Marlin") is a USA-based (and owned) wire point of purchase basket, rack hooks and shelf wire form manufacturer .  Marlin’s factory floor space has more than doubled since February 1999, to meet the growth the company has experienced.

Jim McNair – Partner, Patton Boggs.  A recognized specialist in family business interests, wealth presentation and some “do’s and don’ts”.  Jim McNair concentrates his practice in the area of federal taxation, with a particular emphasis on estate planning and business succession.

Lee Russell – Lee Russell is a Principal with the Valuation Advisors practice of Ernst & Young LLP.  In this capacity, he is responsible for practice development relating to valuation engagements performed by Valuation Advisors staff in the firm’s Mid-Atlantic Area.

Chris Martens – Martens and Associates.  Chris Martens is an International Speaker and Consultant on family business and continuation of family businesses from generation to generation. He has presented his Successorship Seminar to over 600 business owners over the last 12 years across the United States.

Registration:To register, go to www.cvent.com and enter event code UY3JOH4LRH under RSVP on the left hand side. The $30 registration fee includes continental breakfast. Discounts available.
Please register by October 10, 2001. 
For further information,call Kathy (phone: 301 279-5133).