Family Business Councils (CONT’D FROM PAGE 24)
Board Converting NEWS INTERNET DIRECTORY
members to reach accommodations on conflicting per- sonal goals. “We often see situations in which some family members feel emotionally connected to the business and want it to see it continue, while others are more interested in having their money go elsewhere,” said Dartt. “Maybe they want to make an addition on their house, or put their kids through college with no debt, or buy a vacation home. These wildly different priorities can tear a family apart.” In such cases, family councils can obviate costly flare-ups by providing for the cash-out of some ownership shares while ensuring that the cash outlay does not harm the compa- ny’s future growth. Keep It Real Launching a successful family council requires a bit of thoughtful planning—to include a decision about its
CORRUGATED REPLACEMENTS, INC. www.corrugatedparts.com
Corrugated Replacements, Inc. is a production powerhouse that manufactures high quality machine parts and replace- ment parts for the corrugated and paperboard converting industries. CRI can redesign, engineer, and manufacture any part while providing a rapid turn-around rate, keeping machines running at their peak performance and limiting down time.
C.U.E., INC. www.AnvilCovers.com
Makers of single and dual-width Timesaver® Anvil Covers, the premier urethane anvil cover for corrugated die cutting. Timesaver® covers feature construction of solid steel back- ing and solid steel locking components to ensure a precise fit every time. C.U.E., Inc. also offers Dura-Latch and Cor- Lock anvil covers, and urethane Lead Edge Feed Wheels.
EMBA www.embausa.com
The EMBA group supports a complete line of corrugated converting machinery for the worldwide market. EMBA’s Quick Set technology enables the highest productivity across a broad range of converting equipment, from mini to super jumbo. EMBA also includes the McKinley jumbo line of flexo folder gluers and rotary die cutters as well as ser- vice, rebuilds and upgrades for both EMBA and McKinley.
composition. “Someone has to decide what categories of people will serve on the council,” said Harms. Very often, membership will be open to any family member, regard- less of share ownership. Other councils might be restrict- ed to categories such as first-generation owners, siblings, or spouses. “The emphasis should be on the first word: It’s a family council, not a business council or a board of directors.” Then, of course, there is the decision about which spe- cific individuals will join the council. “In the very beginning, and often for a long time after, the composition of the fam- ily council will be segregated by family branches,” said Harms. “Each of four branches, for example, might desig- nate two individuals.” Yet, as family trees get more complex, branch dynamics can fracture. “It’s not healthy if branches turn into factions,” said Harms. In such cases, the company might start as- signing representatives from a larger pool of prospective family groups, including those from multiple generations and stepchildren. How big should the council be? Large enough to be inclusive, but small enough to allow for timely decisions. The majority of councils range in size from six to 12. “In some families where everybody may want to be on the council, keeping it to a manageable size is a challenge,”
EAGLEWOOD TECHNOLOGIES, LLC www.eaglewoodtech.com
Eaglewood Technologies offers trusted cleaning technolo- gies for the world’s best printers and converters. Solutions include the award winning Sitexco+ Anilox Laser System, the Nanovis Parts Washing System, the Sitexco L10 Label System, the innovative Sanilox™ System or Alphasonics solutions. We also offer Xpress™ mobile cleaning service at your facility or ours. ESKO www.esko.com ArtiosCAD and Kongsberg are the most trusted names in CAD/CAM solutions. Esko’s ArtiosCAD is the most widely used CAD software in the world. Esko’s Kongsberg series of tables brings you reliable, outstanding quality for sample- making and short run production.
DOMINO www.dominodigitalprinting.com
Domino is a leading manufacturer and distributor of digital printing and product identification solutions. Celebrating its 44th year, Domino is headquartered in the UK and North America headquarters are Illinois. Domino has 25 subsid- iaries, representation in over 120 countries, and over 2,900 employees worldwide .
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