Working closely with many family-owned businesses over the years, I’ve noticed two alarming trends rarely addressed by the news media–if at all. First, I’ve sensed that fewer family-owned businesses are being passed on to the next generation. (The statistics bear out my experience: The percentage of family businesses taken over by the second generation has dropped from about 40% to less than 30% in the last decade.) Second, I’ve observed a lot of owners spending wild amounts of revenue on personal expenses, even in today’s tough economy. They’re “money drunk.” . . . → Read More: Family Business and the ‘Money Drunk’ Factor
Ellen Cooperperson is the CEO of 
