|
|
|
EXECUTIVE WATCH GlobeSt.com:
BY ANTHONY J. LOPINTO
|
 |
| EXECUTIVE WATCH
is a weekly column featured on GlobeSt.com, the leading online real estate
news site. Tony LoPinto, the CEO of Equinox Partners has been the
author of this widely read column.
|
 |
|
Father Knows Best
By Anthony J. LoPinto
May 27, 2008
|
|
It was a great TV show that Baby Boomers (including yours truly) grew up with in the 1950's. Jim Anderson, the conservative and paternalistic father played by Robert Young, seemed so much in control, and provided his son Bud with a steady hand and solid guidance. Apparently this hasn't been the case for Harry Macklowe. The Macklowe family received star billing in today's Wall Street Journal, reporting that son William (known as Billy to insiders) is poised to boot Dad aside and take the helm of the family enterprise. This comes on the heels of the announced sale over the weekend of the crown jewel: the GM building along with three other NYC office properties. The younger Macklowe is publicly trying to distance himself from Dads "swashbuckling" style, having bet the ranch last year on a $7 billion purchase of seven office buildings, a deal that brought the business, and the family, to the brink. Companies are increasingly focused on succession planning to prepare for an orderly transition of management. The Macklowe approach isn't exactly what most organizational consultants have in mind.
© 2008 - GlobeSt.com, all rights reserved.
|
|
Return to Past Article List
Return to the Current Article |
|
