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Australia

Media baron scions' joint venture crumbles

April 8, 2008

A joint venture led by two next generation members of Australia’s most powerful families has ended after only two months.

A joint venture led by two next generation members of Australia's most powerful families has ended after only two months. Lachlan Murdoch, son of News Corp chief Rupert, has written to Consolidated Media Holdings stating that the deal he was pursuing with CMH executive deputy chairman James Packer (pictured) to purchase the firm is off.

The letter from Murdoch stated that they are "not in a position to proceed with the Indicative Proposal due to material changes in the overall transaction terms. Accordingly, the Indicative Proposal has been withdrawn."

Royal family buys family-owned stud farm

March 27, 2008

An Australian family firm is selling part of its horse training and breeding business to Middle Eastern royalty.

An Australian family firm is selling part of its horse training and breeding business to Middle Eastern royalty. Through his global thoroughbred breeding operation Darley, Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, has purchased the Bloodstock operation of Inghams Enterprises for an undisclosed sum. The sale includes all the Bloodstock training stables in southern Australia.

Asia Pacific: Heirs without graces

March 1, 2008

Known for their pragmatism and bluntness, Australians inhabit a vast island nation where family enterprise is deeply influenced by a harsh natural environment and social history. Dennis Jaffe investigates the succession issues facing the Aussie family businesses

Dennis Jaffe is a founding partner of Relative Solutions.

Who will take over?

November 1, 2005

One-third of Australian family business leaders do not know who is going to take over the business when they retire. And a study also has revealed that more than a quarter of them do not have an exit strategy in place.

And now the government steps in

November 1, 2004

Australia’s federal government has called for submissions from family businesses so it can better meet the needs of the country’s largest business sector.

Australia's federal government has called for submissions from family businesses so it can better meet the needs of the country's largest business sector. This is welcome news. Australia's small business minister Joe Hockey made the pledge after a debate with opposition finance and small business spokesman Bob McMullan at a national conference held earlier this year. Mr Hockey says family businesses are the engine of the Australian economy and are major contributors to the country's GDP. He is right.

Family business in australia: What do we know?

September 1, 2004

An ageing population means the number of business owners seeking to leave their businesses over the next few years is ever increasing. But recent research suggests succession planning needs to be a much higher priority. Rowena Barrett and Glennis Hanley report

Rowena Barrett is director of the Family and Small Business Research Unit, Monash University, Melbourne. Glennis Hanley is a research associate with the Family and Small Business Research Unit.

Week at the top

April 1, 2003

Kevin Chambers is Managing Director of Kevron Plastics Pty Ltd, of Melbourne, Australia. He runs the company in conjunction with his brother Ron. Kevron was started by their father Ernie (a native of London’s East End) in 1952 and the company has celebrated its 50th anniversary Golden Jubilee this past year with much fervour. Kevron manufactures a range of plastic ID products, (keytags, keytag racks, luggage tags, etc) and has been the dominant force in this sector of the Australian market for decades

Kevin Chambers is Managing Director of Kevron Plastics Pty Ltd, of Melbourne, Australia. He runs the company in conjunction with his brother Ron. Kevron was started by their father Ernie (a native of London's East End) in 1952 and the company has celebrated its 50th anniversary Golden Jubilee this past year with much fervour. Kevron manufactures a range of plastic ID products, (keytags, keytag racks, luggage tags, etc) and has been the dominant force in this sector of the Australian market for decades

Saturday

Week at the top

November 1, 2002

Shane O’Reilly is managing director of O’Reilly’s Rainforest Guesthouse in Queensland, Australia, which has been in business for 77 years and is currently managed by the third generation of O’Reilly’s. The guesthouse, situated in Lamington National Park, a world heritage site, has 70 rooms and is rated 4-star; it also runs its own small vineyard – Canungra Valley.

Shane O'Reilly is managing director of O'Reilly's Rainforest Guesthouse in Queensland, Australia, which has been in business for 77 years and is currently managed by the third generation of O'Reilly's. The guesthouse, situated in Lamington National Park, a world heritage site, has 70 rooms and is rated 4-star; it also runs its own small vineyard – Canungra Valley.

Monday

Week at the top

February 1, 2002

Serial entrepreneur Richard Owens is Chairman of ROI Pty Ltd (the Owens family's property development business) and Managing Director of Oakvale Wines Pty Ltd, which includes vineyards and a winery situated in the Hunter Valley district of Australia. He settled into the wine business having sold his successful supermarket chain. Richard is married to Mary and has four children, who all work full- or part-time in the family business

Monday
Monday morning starts with measuring the size of a loading dock in one of the warehouses where we store wine. I wanted to prove to my staffthat there was a way to transport wine in and out of the warehouse without incurring the cost of a fork lift truck. The result? It is not possible and I will have to incur the cost. Not a good start. My staff are right and I'm wrong.

Family business in Australia

January 1, 2002

Family businesses in Australia account for 40% of Australia’s private sector output, but they are heading for a period of unprecedented change

A vast number offamily companies in Australia will have new owners or managers within a decade, This article is based on a recent study, The Australia Family and Private Business Survey 1997, conducted by myself and Claudio Romano, a fellow Director at the AXA Family Business Research Unit. Our research, which included a sample size of 1500 family firms, found that the family business sector has concerns for the future, is not planning effectively and is heading for a period of unprecedented change – namely changes in the ownership and control of family held corporations.