Succession Planning at Erving Industries

The Changing of the GuardNortheastern University

Family Business Quarterly

Northeastern University Center for Family Business

Charley Housen succeeded his father as head of Erving Industries and created one of the nations largest privately owned paper-processing companies. His son, Morris, is very bright, passionate and energetic. But Morris and Charley have very different styles. And those styles arent always compatible. Charley would like to see Morris at the office by 8:00 AM in a shirt and tie. Morris says his father doesnt see him at 1:00 AM working in his shorts in his home office. As a follow up to two previous presentations to the Center, Charley and Morris share the latest chapter in their work together.

Ego conflicts, loyalty issues and differences in strategy and vision. These are just some of the succession issues that Charley and Morris Housen have struggled through, yet they still managed to avoid family conflict. They accomplish this by effectively separating their business and personal feelings. More…

Financing the Family Business: When Growth and Succession are at Issue

Financing the Family Business: Northeastern University
When Growth and Succession are at Issue

Family Business Quarterly
by Thomas M. O’Reilly

The following is a true story. The names and certain details, however, have been changed to ensure confidentiality.

In 1957, Stanley decided to go into business. With $10,000 of his own and another $10,000 from his brother Fred, he started a small parts supply company.

By 1994, Stanley’s company had become a thriving $33 million business with 15% annual growth. Fred, who still owned 50%, was not seriously active within it. He used the company as a place to launch various less-than-successful enterprises. He relied on the 50% split of company profits that Stanley had always given him to live on and to fuel his various undertakings. More…