Neighbor Hardware: A Tale of Dead Wood and Loose Bolts
panel discussion focuses on a fictitious family business, Neighbor Hardware. The
family and the business are besieged by a host of issues: the lack of a
business succession plan, lack of leadership development in the business,
nonexistent strategic vision for the business, no shareholder agreement and a
general malaise in the business and the family. Little is the way it should be
in this family.
discussion will focus on these issues and will highlight some themes running
through the case:
· How do we talk with our clients about their
other advisors (and if they are still a good fit at this point in the life of
· How to address the issue of dead wood in the
· Are we the beacon of hope when the family feels
promises to be a lively, interactive discussion.
About the Presenters
William Ely is Counsel in the Boston
office of Robinson & Cole llp. His
practice consists of estate and gift planning, estate settlement, and
related matters as well as representation of family-owned and closely
enterprises in a variety of contexts and industries. Suffolk University School of Law J.D. cum
laude, Boston University School of Law LLM (Tax).Martha Sloan Felch is Vice President
and Senior Relationship Manager for Blue Hills Bank’s Business Banking
group. She finances and services a
variety of enterprises with annual revenues less than $20 million including
family owned businesses, professional service firms, and non-profits. She currently serves on several non-profit
boards including New England Baptist Hospital and the YWCA of Boston. Her degrees are from Babson College (MBA) and
Connecticut College (BA).
Phinney, Principal, Blackstone Management Group, helps family owned companies become more successful. As a senior
change agent and Vice President of Human Resources at Benjamin Moore and
Company, for example, Terry was an integral part of this company's successful
$1 Billion sale to Berkshire Hathaway.
Terry holds an AB
from Harvard College and an MBA from Columbia University. He serves on the
advisory boards of several family owned firms.
Gerard J. Donnellan (moderator) is the author of, "Who Will Drive the Bus?
Guidance for Developing Leaders in the Family Enterprise.” His
company, Big Leap (www.big-leap.com),
with offices in downtown Boston and Lexington, provides innovative solutions to
organizational issues in closely-held businesses, family enterprises and
professional service firms. He is Adjunct Professor
at the International Business School at Brandeis University and is a member of
the Boston Estate Planning Council.