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May 10, 2013

The Ford family has retained control over the eponymous automaker, despite a growing number of shareholders voting in favour of ending dual-class shares. 

The Ford family has retained control over the eponymous automaker, despite a growing number of shareholders voting in favour of ending dual-class shares.

At the company’s 58th annual meeting, 33.4% of shareholders, the highest tally ever, backed the proposal to end the class of shares that allows the family to control Ford Motor. Last year 29.5% voted against the company’s dual-share structure.

February 24, 2012

Two of the world’s largest family businesses had a mixed week. US retail giant Walmart saw profits drop, while Peugeot Citroen reportedly looked to team up with General Motors to better compete in the fiercely competitive European car market. 

Two of the world’s largest family businesses had a mixed week. US retail giant Walmart saw profits drop, while Peugeot Citroen reportedly looked to team up with General Motors to better compete in the fiercely competitive European car market.

Walmart, the supermarket chain controlled by the Walton family, said net profits for the year ended 31 January 2012 fell by 4.2% to $15.7 billion (€11.69 billion), from $16.4 billion the previous year.

February 23, 2012

Two family businesses operating in the US food industry have been sold – with the Guida family in Connecticut ending its involvement in dairy company Guida’s Milk and the Schweppe family in Illinois selling food service firm Schweppe.

Two family businesses operating in the US food industry have been sold – with the Guida family in Connecticut ending its involvement in dairy company Guida’s Milk and the Schweppe family in Illinois selling food service firm Schweppe.

Guida's Milk, which produces milk, cream and ice-cream mixes, as well as fruit juices, was sold to Dairy Farmers of America, a Kansas City-based co-operative, for an undisclosed sum.

September 28, 2011

The challenges facing family businesses not only differ between emerging and western markets, but even within each of these markets, according to a family business expert. 

The challenges facing family businesses not only differ between emerging and western markets, but even within each of these markets, according to a family business expert.

Jörg Ritter, co-head of the family business advisory division of executive search firm Egon Zehnder International, said that despite operating in similar developed markets, family businesses in Europe and the US have to deal with very different issues that affect their success.

August 23, 2011

The families behind carmakers Ford and Toyota are teaming up to develop fuel-efficient hybrid vehicles, as the companies aim to increase their presence in the growing green-vehicle market.

The families behind carmakers Ford and Toyota are teaming up to develop fuel-efficient hybrid vehicles, as the companies aim to increase their presence in the growing green-vehicle market.

A joint statement released by the American and Japanese automobile manufacturers said that a memorandum of understanding has been signed between the two companies, aimed at pooling together technology and know-how to co-develop a hybrid system for trucks and SUVs.

May 20, 2011

With philanthropy in the UK at its lowest level since the beginning of the financial crisis, the latest survey by JP Morgan Private Bank on ultra-high net worth individuals’ charitable habits hasn’t given much to cheer about.

With philanthropy in the UK at its lowest level since the beginning of the financial crisis, the latest survey by JP Morgan Private Bank on ultra-high net worth individuals’ charitable habits hasn’t given much to cheer about.

The survey, which questioned around 100 UK-based UHNW clients of the bank, revealed that around half of them give over 5% of their wealth to charity, while three-quarters give regularly to charitable causes.

May 17, 2011

Family businesses in the US will make a significant contribution to the country’s economic recovery, according to the latest survey by Family Enterprise USA.

Family businesses in the US will make a significant contribution to the country’s economic recovery, according to the latest survey by Family Enterprise USA.

The survey, which questioned around 190 family businesses in the US, revealed that companies plan to add employees or retain their current staff numbers despite an overall sluggish recovery.

According to the survey, 52% of respondents will add more staff while 42% of businesses intend to maintain their workforce over the next 12 months.

February 23, 2011

Family-controlled retail giant Walmart announced on 22 February that its sales for the fourth quarter had grown despite seeing a slowdown in its US home market.

Family-controlled retail giant Walmart announced on 22 February that its sales for the fourth quarter had grown despite seeing a slowdown in its US home market.

In a statement, the Arkansas-based retailer said that revenues rose by 2.5% to $115.6 billion while its profits increased by 27% for the fourth quarter. This rise was attributed to the company’s strong operations of Walmart International and Sam’s Club, while emerging markets too had seen a boost with every country contributing to an increase in sales.

January 4, 2011

A $2 billion-plus lawsuit filed against family-controlled automobile giant Porsche was dismissed by a US federal judge on 30 December 2010.

A $2 billion-plus lawsuit filed against family-controlled automobile giant Porsche was dismissed by a US federal judge on 30 December 2010.

Porsche was being sued by 39 hedge funds for lying over its intentions towards Volkswagen. Specifically, they claimed Porsche disguised its intentions to takeover VW at the end of 2008.

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