Just in Case it Matters to You
Weekly Report 24-06
- 90% OF BUSINESSES ARE FAMILY-OWNED with intention, expressed or not, of preserving multigenerational continuity. The vast majority fail, however, to focus on the challenge of preparing their next generation for transition – a common result of family and cultural dynamics. DCG experience has confirmed that a few core strategies are critical to transition and succession: (1) Cultivating emotional connections to the business thru regular family discussions and involvement, particularly periodic ‘retreats’ where future leaders can learn the managerial as well as technical aspects; (2) Planning for transition and succession (regardless of timespan), with clear communication among family members as to expectations & timelines; (3) Transitioning along the way, allowing full responsibility over small things, more so than partial responsibility over big things. DCG have decades of experience in this area; call us for courtesy consult.
- ‘RETIREMENT’ HAS TAKEN ON A NEW MEANING as polls find up to one-in-three Americans saying they “may never retire,” with business owners/execs increasingly working past conventional retirement age of 65. Even when financial condition is not a factor, the principal reasons are stated as: “(1) Fear that post-retirement may lead to boredom, a life devoid of meaning, purpose or relevance; (2) A feeling of depth in being useful, and that excitement, even in significantly lower doses, can act as an anti-ageing serum; (3) While hobbies are enough for many, the extremely driven can feel hobbies pointless and even slightly embarrassing.” The exception are owners/partners of Professional and other Service firms where, even with awareness that “stimulation tends to keep depression and cognitive impairment at bay,” earlier retirement is necessary to make space for the younger generation – conceding that younger partners will not stay without advancing, as well as recognizing “it being unrealistic to maintain their edge in the professional field.” [ECONOMIST -1/27/24]
- BELOW 30% OF CALIFORNIA PUBLIC SCHOOL STUDENTS THROUGH 8TH GRADE are proficient in reading, and below 47% through 11th grade meet literary standards, based on 2023 test scores. A Nat’l Council on Teacher Quality report last month also acknowledged that teachers themselves “aren’t trained enough to teach literacy – a process of building awareness for individual sounds & pairs, followed by phonics/ word recognition/ fluency/ vocabulary/ then comprehension.” Better late than never, so new Assembly Bill 873 now requires that media literacy skills be ‘woven into’ existing English language arts, science, math, history & social studies classes. The objective is to combat reality that young adults are “more likely to believe (mis- and dis-) information from social media than even from traditional and biased news outlets, and are thus drowning in an ocean of online dishonesty. But the new law has massive problems – like who is going to determine what fake news is?!” [AMERICAN GREATNESS – 1/25/24]
- LATEST D.E.I. PROPOSALS ARE: Federal: Dep’t of Transportation goal to hire 3% annually of individuals with “Targeted Disabilities including deafness, blindness, paralysis, epilepsy, severe intellectual or psychiatric disabilities.” California: A first-in-nation Slavery Reparations Package – 111 pages of proposals to compensate for property taken by eminent domain; protection of “natural and protective hairstyles in all competitive sports”; and programs to “increase life expectancy, improve educational outcomes, and lift-out-of-poverty for specific groups based on race/ color/ ethnicity/ national origin/ marginalized genders, sexes or sexual orientation. DEI reportedly stands for Diversity /Equity /Inclusion; but now evolving to Death/ Extinction/ Insanity.” [FAA.GOV and POLITICO]
- THOUGHTS FOR THE WEEK: Unique painting artistry: https://biggeekdad.com/2020/01/the-butterfly-illusion/
A Unique Valentine. “A healing journey with a dash of humor and pettiness”: A viral valentine to symbolically salute your ‘ex’ by naming a cockroach, rat, or vegetable that gets fed to animals at the San Antonio Zoo. Online donations of as little as $5 have raised over $225K since the annual event’s inception in 2020. https://sazoo.org/cry-me-a-cockroach/
About this year’s election: It’s pretty much do or die for both parties. So “brace yourself for what’s coming before November! https://www.realclearpolitics.com/video/2023/11/26/victor_davis_hanson_brace_yourself_for_whats_coming_in_2024.html
“The legal system itself, hand-in-glove with leftwing politicos (compare campaign boasts of James and Willis, or prosecutorial visits to the January 6 committee and the White House) is turning the process of balloting and elections into an embarrassing farce.”