Welcome to the Family Ties^© e-letter brought to you by Pervin Family Business Advisors Inc.

Once more, this time while reading A General Theory of Love [T. Lewis 2001], I began to question the role of compassion in our lives. There are times when people are capable of extreme cruelty and at other times, these same people demonstrate considerable compassion - for self and for others. Perhaps the Eastern traditions that appear to view compassion as central to liberating our minds from the power of destructive emotions such as fear, anger, envy and vengeance [D. Goleman 2003] can positively influence us to view compassion as a process for healing [P. Gilbert 2005].

I shared this concept of compassion at a family meeting recently and the dialogue engaged all participants. Remarkably, a few participants were inspired to associate compassion to his/her family history and relationships, using their genogram, to community involvement, to leadership and to how each family member used their wealth. Sometimes an unplanned meeting topic can take on a life of its own and positively benefit unity, trust and communication.

In upcoming issues, the business family topics will address beneficial aspects of governance, leadership, organization, planning and relationships, to offer a few ideas. If you have a question, a great idea for inclusion in this e-letter, or if you just have some comments you would like to share with us, we want to hear from you!

For your reading pleasure...

Here is an article by my colleague Tom Davidow published in Families in Business - LEARNING TO COMMUNICATE ACROSS THE GENERATION GAP [PDF] - Succession in family business can be fraught with difficulties, with one generation often blaming the other for any problems encountered.

And another by my colleagues John Davis and Deepak Malhotra published in HBR Working Knowledge - FIVE STEPS TO BETTER FAMILY NEGOTIATIONS - Negotiations between family members who own a business are different-different from negotiations between non-family members and also different from negotiations between family members who don't have a business.

DUAL-CLASS SHARES: GOVERNANCE, RISKS, AND REWARDS
Dual-class shares have significant benefits but none of them flow through to minority shareholders.

THE CHARACTER OF LEADERSHIP
Scratch the surface of a true leader, or look beneath his or her personality, and you'll find character. The traits and values that make up the character of a good business leader are, for the most part, similar to those that make up the character of an outstanding citizen. These authors describe the traits and values that make up the character of leadership.

SMALL BUSINESSES 'A FAMILY AFFAIR'
Family ties are fuelling resurgent small firms across the UK with relatives keen to invest, advise or just change the odd light bulb, reveals a new report.

THE ROOTS OF PUNISHMENT
A finding from a theoretical model of cooperative activity reveals that making an enterprise optional also makes it more sustainable.

THE IMPOSTOR PHENOMENON - BEHIND THE MASK
Inside many high-achievers is a little voice saying, "You are an impostor". Take the Impostor Phenomenon Test [PDF].

FILLING THE MOGULS' SHOES
Asia's family dynasties are handing the reins to a new generation-but can the kids ever live up to dad?

Families in the news...

MANY FAMILY FIRMS RELY ON A LARGELY INVISIBLE CEO -- CHIEF EMOTIONAL OFFICER
When your family business involves an extended network of 52 family shareholders, as it does for Bukit Kiara Properties, a Malaysian real estate development firm, simply pulling everyone together for family dinner can be hard work.

LUXURY'S RISING SON
François-Henri Pinault has led a charmed life: He's the scion of one of France's wealthiest families. Now it's becoming clear that his pedigree is helping him become a formidable businessman, too.

REDSTONE: 'LEGACIES ARE FOR DEAD PEOPLE'
The chairman of Viacom and CBS on growth, succession, stock performance, his daughter Shari, and his plan to live forever.

THE OLD HAND BEHIND LOBLAW'S YOUNG MAN
Ask Allan Leighton about the suitability of 34-year-old Galen Weston Jr. for running his family's supermarket chain Loblaw Cos. Ltd., and he is unstinting in his praise.

Mark your calendar...

THE FAMILY OFFICE - October 2, 2007, Toronto
A long-standing fixture in the United States, the Family Office is now making inroads in the Canadian wealth-management field. On October 2 you will learn how to work most effectively with a Family Office while connecting with other family business professionals. Hosted by the Ontario Chapter of the Family Firm Institute.

SPECIAL INTEREST GROUP: BUSINESS FAMILIES - Launch Event - September 2007
Understanding Family Business Systems - Why it matters to the private client practitioner.

Something a little different...

Bulwer-Lytton Fiction Contest 2007 Results

Enjoy the writing!

Did you know...

Our web site is chock full of interesting and compelling articles for the family business. You can send our articles to a friend, family member or colleague, quickly and easily.

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