The Church of "Scionology" (Rebroadcast)

Freakonomics Radio

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Documentary, Society & Culture

4.6 • 32K Ratings

🗓️ 8 August 2013

⏱️ 57 minutes

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Summary

We worship the tradition of handing off a family business to the next generation. But is that really such a good idea?

Transcript

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0:00.0	This is Freakonomics Radio, I'm Stephen Dubner.
0:03.2	Let me ask you a question.
0:05.4	What do this Ford Motor Company and this Levi's Blue Gene and this this family moment
0:11.5	is brought to you by Walmart and this enterprise and this and this and this New York Times
0:19.0	and this SE Johnson isn't just a company, having common.
0:23.8	Yeah, there's some of the most popular and prestigious brands in the history of American
0:28.8	business but also each of them is a family business.
0:33.3	Isn't that amazing?
0:34.6	Isn't that fantastic?
0:36.4	About one third of the companies in the Fortune 500 are family controlled.
0:40.7	You know the story.
0:43.6	Some incredibly hard working person starts a business.
0:47.4	Maybe it's a bakery or a brewery.
0:49.8	It could be a car maker, a newspaper and against all odds, the business doesn't just
0:55.3	succeed.
0:56.3	It flourishes.
0:59.6	But someday the founder has to retire or die so who takes over then?
1:06.1	That's easy.
1:07.1	The founder's son or daughter, the sion of the family.
1:11.7	Sion.
1:13.7	Who better to protect and grow the family brand?
1:18.7	Make sense, doesn't it?
	...

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