Harry McNeely Sr began a storage and transport company with his brother-in-law in 1916. Whereas Harry & Don Jr, his sons, were taken into the company, Harry Sr made provision for his two daughters to be financially separate but gave them no position in the family business. Subsequent to his death, the will was challenged by the daughters and were made minority shareholders, but not before the family had endured company liquidation was ordered by the greatest court in Minnesota's history.
Things settled down for some time but then another problem emerged: the progression had not been settled. Although Paddy, Harry Jr.'s son, was keen to run the business, his ageing father was cautious in handing over the reins. In parallel, involvement in the family's charitable foundation successfully unified all the cousins of the third generation.
PUBLICATION DATE: January 31, 2009 PRODUCT #: INS040-PDF-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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