September 23, 2002
A free monthly e-zine with articles and tips from Family Business Experts who understand family values and business systems.
September 22, 2002 Issue #007 Family Business Experts
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In This Issue...
1. Our Managing Director Announces -
2. Business first family...Family first business
Family Business - From Legacy to Liability
3. Best Practices
Environmental Management Systems
4. Around the Family Business Experts web sites
SPONSOR MESSAGE #1
Are you an affiliate for ANY program? Then your best programs better be listed at Affiliate Showcase along with the secret to affiliate success.
SPONSOR MESSAGE #1
1. Our Managing Director Announces -
Welcome [back] to Understanding Family Business. For our many new readers who have joined us over the summer, you can catch previous issues #001 - #006 in our archives Newsleter Archives - Issues #001 - #006
In this issue we look at both sides of another of the thorny problems that face many family businesses.
Environmental issues cause some of the most "ostrich-like behavior [bury the head in the sand], yet have a surprisingly simple solution that we reveal to you.
Of course, for ostrich-wannabes, there is some bad news, which we also have to convey... the defenses for fighting it our with the EPA's aren't as wide as some would like to think, and the battleground is littered with surprise-attack victims.
Whether to contribute, challenge (or hopefully even praise) our newsletter, I encourage you to contact me directly, Don , or our editor David
Enjoy, and here's wishing you, your family, your clients... much success!
Don Schwerzler, Managing Director Family Business Experts
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SPONSOR MESSAGE #2
2. Business first family...Family first business:
Family Business - From Legacy to Liability
During a recent exchange with our environmental expert, I was telling him that one of the upcoming sections for the site has to do with estate planning, exit strategies for owners, and trusts since I had just gone through the process of setting some up.
He said, "You know, I just wrote about how state superfund statutes often close defense loopholes where families thought their inheritances were protected by family trusts. It turns out that is not necessarily so according to a Georgia court in 1998 that held that trustees are 'subject to liability...to the extent of trust assets...' - even though they might not know what had even occurred on the trust property.
And John went on to relate the example given by an attorney colleague...
A family-owned business [brothers and sisters] operated a wood-treating plant on land owned by the family. One sibling died, leaving his interest in the business and land to his children. Later the business ceased operations and went bankrupt. Still later, environmental contamination was discovered on the land, the state environmental regulatory agency ordered the site cleaned up, the surviving siblings declared bankruptcy and the children of the deceased sibling ended up with the cost of the environmental cleanup.
Some legacy.
John's article provides a sharp look at the liability problems that can threaten and even wipe out the legacy that a family has worked so hard to build. Read Environmental Liability: The Hidden Time Bomb on our site. In particular, learn how the defenses that many family businesses think will protect them might not provide much protection at all.
On the positive side, is there anything a family business can do to combat these onerous risks and liabilities?
Turns out there is some hope... we'll show you a simple, effective, and much-misunderstood tool, right after a short Sponsor message.
SPONSOR MESSAGE #3
What other management systems does your organization need? The Wizard's "160 Key Business Questions" has a TON of useful ideas.
The Wizard's160 Key Busines Questions
SPONSOR MESSAGE #3
3. Best Practices
Environmental management systems
One of the biggest myths we have encountered is that implementing effective environmental management systems involves a cumbersome approval process and certification.
This is simply not so.
An environmental management systems following ISO 14000 can be tailored and implemented to suit virtually every size of business.
Sure, if you are chasing General Motors in size, your system will be big, and likely cumbersome... especially if your other management systems are big and cumbersome.
But, at their core, environmental management systems are as basic and logical as other management systems: policy / plan / implement / corrective action / management review / corrective action. The cycle is basic, and the details are made to fit your organization's needs.
Learn who can benefit from using the ISO 14000 standard [only one segment involves certification] and some really significant benefits from adopting an environmental management system.
Environmental Management Systems
4. Around the Family Business Experts web sites
Search the entire content site in two different ways
1. A search engine powered by ATOMZ has indexed all the pages on the site and will link you to those relating to any search term you enter.
2. A 'Table of contents' listing that will link you directly to any page / article you select. Visit often, and bookmark the search page in your browser so that you can get directly to the site.
Site Table of Contents
Bacground information, testimonials to our service and understanding, and answers FAQ's [Frequently Asked Questions].
Family Business Experts
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