At What Point Do You Solve a Problem or Live With It in Family Business?

During our January Roundtable discussion with 14 expert Family Business leaders, Dennis Passis shared his story and modeled what Kim described as  "confident vulnerability."   Then Vijay shared the following...

"I had a case exactly like this, Dennis, with two brothers.   It's a long story, but it leads to two questions. One:  Is there a point of intervention at which this could have been prevented?

The other one, my mentor once told me long ago, is based on the observation that  "there are problems to solve and there are problems to live with."  I know so many cases like this case...

I'm thinking of two brothers, they were never going to get along since they were young. And the father kept using counselors and counselors and counselors.  One of those counselors was my former student who was a Vistage chair. And he brought the best thinking to bear and it went no place. This guy who was troublesome was cast as the bad guy.

The point is, I asked the dad finally, "Do you think this p...

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What in the World Happened?

On Tuesday, January 19, 2021, we hosted our 4th Roundtable Session with 14 exceptional Family Business leaders.  

Our featured collaborator was Dennis Passis, who stated,

"We were a highly successful mid-sized company that had been around since about 1950.  In 2004 our father died. And six months later, I was the subject of a minority shareholder squeeze out. Those words are really pretty descriptive."

"I spent the next six years in litigation with my mother, sister, brother-in-law, and the company. And obviously, my son was also out of the business.  That litigation went to trial, and we ended up in a settlement during the middle of the trial."

"And then I spent time figuring out what the devil happened. We had always presented to the world, the fact that we were a closely-knit company that enjoyed being with each other. We had no problems, and that was our image. And we would get together on Friday nights."

"Many times the family toast was "May it Never End".  Like I said, we we...

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