Greece’s Financial Woes Are Far From Over; Public debt stands at 176 percent of GDP. No one knows how Greece will pay

Greece’s Financial Woes Are Far From Over

By Carol Matlack September 26, 2013

There were glimmers of hope in Athens in late September as international lenders arrived for a new round of talks on Greece’s debt crisis. The government said it would post a small budget surplus this year, with the economy set to contract a less-than-expected 3.8 percent. Tourism is up, Greeks are depositing money in banks again, and a poll released on Sept. 25 showed support for the governing coalition holding steady. Could this be the turning point? Six years of recession and the austerity measures demanded by Greece’s creditors have shrunk its economy by 25 percent and pushed unemployment to more than 27 percent. It seems the country has suffered enough. Read more of this post

Macroeconomic Mystery: U.S. Unemployment Subverts Okun’s Law

Macroeconomic Mystery: U.S. Unemployment Subverts Okun’s Law

By Evan Applegate  September 26, 2013

Okun’s law, posited by economist Arthur Okun, states that a 2 percent decline in output will be accompanied by a 1 percent rise in unemployment. That relationship, proven repeatedly over the past several decades, frayed during the recession and the plodding recovery that followed: Unemployment shot up faster than expected in the depths of the crisis, then fell more quickly than would be indicated by anemic U.S. growth.

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The number of abandoned houses in Wenzhou, China’s “Entrepreneurs’ City”, may reach up to 15,000 after prices plunge and their owners are unable or are no longer willing to pay off their mortgages

Wenzhou homeowners abandon their properties as prices plunge

Staff Reporter

2013-09-26

The number of abandoned houses in Wenzhou in eastern China’s Zhejiang province may reach up to 15,000 after their owners are unable or are no longer willing to pay off their mortgages, reports Guangzhou’s 21st Century Business Herald. Wenzhou is the only city in China that has relaxed its restrictions on property purchases and allows some buyers to purchase a second house after the city’s property prices fell for 22 consecutive months. The average property price plunged 25.9% from 21,005 yuan (US$3,400) in January last year to 15,565 yuan (US$2,500) the following August, while properties previously driven up by speculation slumped by half their price. Many people now find their properties worth less than the mortgages they owe to the banks and are choosing to abandon them. Read more of this post

The SEC is developing data analysis techniques that will likely dredge up some horrific cases of accounting fraud. And shady companies are already developing ways to avoid detection.

Fraud detection approaches its ‘Minority Report’ moment

September 26, 2013: 10:37 AM ET

The SEC is developing data analysis techniques that will likely dredge up some horrific cases of accounting fraud. And shady companies are already developing ways to avoid detection.

By Ethan Rouen

FORTUNE — The days of predicting crimes are almost upon us, and it’s not just the NSA standing behind the curtain pulling the levers. Police departments around the country have been using big data with some success to anticipate where crime hotspots will appear, and cities like Seattle are using algorithms not just to anticipate where crime will occur in the next few weeks, but where it will occur in the next few hours. A more Phillip K. Dick-inspired dystopian technology, recently described by Bloomberg, claims to accurately predict the probability that someone will commit a felony based on only a few details, ranging from eye and skin color, to whether a person has tattoos, to the number of traffic tickets the subject has. Read more of this post

Genetic oncology: Cancer cartography: Mapping the DNA of thousands of tumours will help understand them

Genetic oncology: Cancer cartography: Mapping the DNA of thousands of tumours will help understand them

Sep 28th 2013 |From the print edition

A CANCER, put simply, is a gang of rogue cells multiplying out of control. But each gang is different, so “cancer” is actually a term that embraces hundreds of specific ailments propelled by an even larger number of genetic and epigenetic traits. The old ways of characterising it, by the anatomical site of its debut (kidney, for example, or prostate gland) and the histology of its cells, seem increasingly out of date. Instead, thanks to genomics, researchers have unprecedented information on the molecular changes which propel it. The challenge is making sense of those data and putting them to use. Read more of this post

Sea wolves: Sharks, it seems, are necessary for the ecological health of coral reefs

Sea wolves: Sharks, it seems, are necessary for the ecological health of coral reefs

Sep 28th 2013 |From the print edition

FOR decades, rangers in Yellowstone National Park, in the American West, had to cull the area’s red deer (known locally as elk, though they bear no resemblance to European elk, known locally as moose) because the animals’ numbers were grazing the place to death and thus threatening the livelihoods of other species. Many ecologists argued that the deer had once been kept under control by wolves, which had been hunted to extinction by people. When wolves were reintroduced to Yellowstone, in 1995, these arguments proved correct. The deer population fell to manageable levels, and culling stopped. Wolves, it turned out, played a crucial role in keeping the wider ecosystem intact. Now comes evidence that the same is true for another top predator: sharks. Read more of this post

Yelp’s fake review problem

Yelp’s fake review problem

September 26, 2013: 11:05 AM ET

A New York sting operation caught businesses paying for positive ratings on recommendation websites. What’s Yelp’s response?

By Daniel Roberts, writer-reporter

FORTUNE — On Monday, New York State Attorney General Eric Schneiderman announced the conclusion of “Operation Clean Turf,” a yearlong sting that caught 19 different companies, most of them SEO (search engine optimization) or reputation management firms for hire, that were writing fake reviews for small businesses that paid them. The NYAG fined the businesses in varying amounts that total $350,000. (As part of the operation, people from the NYAG’s office even posed as owners of a Brooklyn yogurt shop.) In the press release, Schneiderman says that the investigation “tells us that we should approach online reviews with caution” and calls the process of posting fake reviews online, “the 21st century’s version of false advertising.” Read more of this post

Ghostwriting a billion yuan industry in China

Ghostwriting a billion yuan industry in China

Staff Reporter

2013-09-26

To facilitate their career development, growing numbers of Chinese officials are publishing articles ghostwritten on their behalf. The face-boosting tactic has led to a covert industry with an annual output value that reached 1 billion yuan (US$163 million) in 2009. Liu Qiang, 33, a technician at a government agency in the capital of Inner Mongolia, is a typical example. In July, responding to an annual company evaluation requirement from his agency for at least one published article, Liu secured secured the services of local magazine Digitalized Subscriber to ghostwrite and publish an article with his byline. Many people have made a profession from writing papers and arranging their publication for others, the Party-run China Youth Daily said. Read more of this post

Financial consulting: The advisory industry has shown remarkable resilience since the crisis

Financial consulting: The advisory industry has shown remarkable resilience since the crisis

Sep 28th 2013 | New York |From the print edition

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CONSULTANTS studiously avoid taking credit for their clients’ successes in order not to be blamed when things go awry. They have not been able to avoid the spotlight during the financial crisis. In a 2008 shareholder report explaining a huge write-down, UBS blamed “external consultants” for recommending that it go into areas like subprime mortgages. An ex-head of Citigroup’s investment bank told investigators he had relied on “a careful study from outside consultants” when moving into collateralised-debt obligations. Read more of this post

Swedish banks: Tips from an ageing model; Where banks are both safe and profitable

Swedish banks: Tips from an ageing model; Where banks are both safe and profitable

Sep 28th 2013 |From the print edition

ASK almost any banker in New York or London whether banks can have strong capital ratios and still generate mouthwatering returns for shareholders, and they will probably think you a fool. A doubling of the capital a bank has will, all else being equal, halve the bank’s return on equity (ROE). For most bankers there is an uneasy tension between making banks safer and making them attractive investments. Developments in Sweden, however, suggest it is possible to have both safety and profitability. Read more of this post

Mobile banking in Myanmar: Leapfrog spotting: Mobile phones may regenerate the country’s withered banking system

Mobile banking in Myanmar: Leapfrog spotting: Mobile phones may regenerate the country’s withered banking system

Sep 28th 2013 | Yangon |From the print edition

FOR a foreigner at least, it is still a bit of a thrill to use an ATM machine in downtown Yangon. After years of carting around wads of dog-eared dollars to exchange for even larger wads of ancient, crumbling kyat, the local currency, immaculate new machines now disgorge crisp new banknotes. It is a minor miracle. Linked to the international payment system only late last year, hundreds of ATMs around the country can now be used on Visa’s payments system. Read more of this post

America’s dominance of the global helium market is ending

America’s dominance of the global helium market is ending

Sep 28th 2013 |From the print edition

NOT every commodity contributes both to the gaiety of existence and life-saving technology. Helium does not just fill balloons and render voices squeaky. In gaseous form the inert, lighter-than-air gas is used in a range of applications from welding and fibre-optic technology to deep-sea diving. Super-cold liquid helium is essential to making and running the superconducting magnets for MRI scanners and to manufacturing electronic devices from TVs to phones. The world stands on the edge of a “helium cliff” precisely because the gas has always proved so useful. Read more of this post

Has Brazil blown it? A stagnant economy, a bloated state and mass protests mean Dilma Rousseff must change course

Has Brazil blown it? A stagnant economy, a bloated state and mass protests mean Dilma Rousseff must change course

Sep 28th 2013 |From the print edition

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FOUR years ago this newspaper put on its cover a picture of the statue of Christ the Redeemer ascending like a rocket from Rio de Janeiro’s Corcovado mountain, under the rubric “Brazil takes off”. The economy, having stabilised under Fernando Henrique Cardoso in the mid-1990s, accelerated under Luiz Inácio Lula da Silva in the early 2000s. It barely stumbled after the Lehman collapse in 2008 and in 2010 grew by 7.5%, its strongest performance in a quarter-century. To add to the magic, Brazil was awarded both next year’s football World Cup and the summer 2016 Olympics. On the strength of all that, Lula persuaded voters in the same year to choose as president his technocratic protégée, Dilma Rousseff. Read more of this post

Farmers in Kansas are starting to adapt to declining stocks of groundwater

Farmers in Kansas are starting to adapt to declining stocks of groundwater

Sep 28th 2013 | CHICAGO |From the print edition

MITCHELL BAALMAN’S well is drying up. This is bad news for a farmer of thirsty crops in parched north-western Kansas. Four years ago Mr Baalman and other local farmers realised that unless they started saving water there might not be enough left for their children and grandchildren to irrigate the soil. So they are trying something new: voluntarily cutting back on the amount they use, even though they will grow less. Read more of this post

Nonfinancial Commercial Paper Rises to Most Since 2001, Fed Says

Nonfinancial Commercial Paper Rises to Most Since 2001, Fed Says

The market for short-term IOUs by nonfinancial companies climbed to the highest mark in 12 years. The seasonally adjusted amount of commercial paper issued by the firms climbed $13 billion to $242.5 billion outstanding in the week ended yesterday, the highest level since June 2001, the Federal Reserve said today on its website. The central bank’s unprecedented economic stimulus measures pushed borrowing costs to record lows for debt issuers in May, spurring record offerings of dollar-denominated company bonds that have reached an all-time monthly high in September. Read more of this post

Bonds-for-Chickens Barter Feeds Debt Selloff in Venezuela

Bonds-for-Chickens Barter Feeds Debt Selloff in Venezuela

Venezuela will pay for $600 million of food imports including milk and live chicks from Colombia with dollar-denominated bonds, a sign the nation is running out of money to address the chronic shortages of basic goods fueling the world’s fastest inflation. Venezuela’s borrowing costs, which fell this month on speculation it would start a foreign-exchange system to boost the dollars needed to buy necessities from abroad and alleviate inflation of 45 percent, surged by the most in three weeks yesterday after El Nacional newspaper said China wouldn’t loan the cash intended to fund the change. Yields on the benchmark 2027 bonds rose 0.23 percentage point to 11.4 percent, almost four times the increase for junk-rated emerging market debt. Read more of this post

Norway Oil Fund Chief Warns on Bonds With Returns Close to Zero

Norway Oil Fund Chief Warns on Bonds With Returns Close to Zero

The head of Norway’s sovereign wealth fund, the world’s biggest, said the bond market will offer scant returns as the investor looks to expand into other asset classes to safeguard the nation’s wealth. “Returns in the bond markets are low and look to remain so for a good while ahead,” Yngve Slyngstad, chief executive officer of the $780 billion Government Pension Fund Global, said today in a speech in Bergen published on the central bank’s website. “The safest investment alternative gives today a return after inflation close to zero.” Read more of this post

Zoom, sputter, aagghhh!! The biggest loss-making cars in Europe

Zoom, sputter, aagghhh!! The biggest loss-making cars in Europe

Sep 25th 2013, 13:27 by S.W. and L.P.

CARMAKERS in Europe are facing a rough ride, with sales at a 17-year low region-wide. So it seems cruel of Sanford C. Bernstein, a brokerage, to remind them of their biggest commercial wrecks. Most major makers suffered billions in losses. Yet not all cars failed by accidents of poor design, ill-judged technological leaps or wildly optimistic production forecasts. VW knew its Bugatti Veyron, a quick and complex supercar made in tiny numbers, would not make money but hoped it might burnish the brand. Daimler believed it could transfer know-how from its sleek executive saloons to small cars. It did—but it brought the same high costs too: its Smart Fortwo had the biggest loss. Renault produced reasonable cars but was overly optimistic about sales. Fiat failed to compete with the VW Golf. As for tomorrow’s pile-ups? Bernstein reckons that the latest bunch of electric cars could some day join the list.

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The shadow of Fukushima, the world’s worst nuclear disaster after Chernobyl, hangs over Japan’s energy future

The shadow of Fukushima, the world’s worst nuclear disaster after Chernobyl, hangs over Japan’s energy future

Sep 21st 2013 | TOKYO |From the print edition

THIS week Japan’s last working nuclear reactor was switched off. At Oi, on the west coast of the country’s main island, the closure was supposedly for routine maintenance and safety checks. Yet no firm date is in sight for reopening Oi or any other of Japan’s 50 reactors, shut in the wake of the triple meltdown at the Fukushima Dai-ichi plant. Before the earthquake and tsunami of March 2011 turned so much of Japan’s world upside down, the country counted on nuclear power for 30% of its electricity—one of the highest proportions in the world. Now it is entirely without nuclear power for only the second time since 1970. Read more of this post

Flaws in the ASEAN “diamond decade”

Flaws in the diamond

In the different disputes in the East China Sea and South China Sea, China’s aims are the same

Sep 21st 2013 |From the print edition

LEE KUAN YEW, Singapore’s elder statesman, who turned 90 this week, offers some characteristically blunt analysis of China’s approach to territorial disputes in the East and South China Seas. In a new book (“One Man’s View of the World”), Mr Lee notes: “The Chinese know that they are the biggest boy in the neighbourhood and that, as they grow in power, they can expect more respect for their rights from their neighbours.” If the respect is lacking, China becomes menacing. Tensions with Japan over the Senkaku islands (known in China as the Diaoyu) have been mounting again. On September 11th China resentfully marked the first anniversary of the “nationalisation” of three of the five islands, which the Japanese government bought from their private owner. At the same time China’s dispute with the Philippines over islets in the South China Sea is deepening. Read more of this post

Man Controls Artificial Leg Using Only His Brain, Researchers Say

Updated September 25, 2013, 7:16 p.m. ET

Man Controls Artificial Leg Using Only His Brain, Researchers Say

RON WINSLOW

Man Controls Artificial Leg Using Only His Brai

Researchers say that 32-year-old Zac Vawter successfully controlled movements of a motorized artificial leg using only his own thoughts. Video: Rehab Institute of Chicago.

In an advance that could eventually improve the mobility of thousands of people living with amputations, researchers said a 32-year-old man successfully controlled movements of a motorized artificial leg using only his own thoughts. Aided by sensors receiving impulses from nerves and muscles that once carried signals to his missing knee and ankle, the patient was able to climb and descend stairs and walk up and down inclines much as he could with a natural leg, based on directions that came from his brain. Importantly, he was able to flex the device’s ankle, enabling a near-normal gait, something not possible with current prosthetics. “It’s night and day” between the experimental bionic leg and the mechanical prosthetic limb he uses every day, said Zac Vawter, a software engineer from Yelm, Wash., who lost his right leg in a motorcycle accident four years ago. “Going upstairs with my normal prosthetic, my sound leg goes up first for every step,” he added. “With this I go foot-over-foot up the stairs and down the stairs.” Read more of this post

The 3 Books Amazon’s Jeff Bezos Asks His Senior Managers To Read

The 3 Books Amazon’s Jeff Bezos Asks His Senior Managers To Read

MAX NISEN SEP. 25, 2013, 5:02 PM 15,990 4

Jeff Bezos is one of the most successful entrepreneurs out there, able to build a company deeply integrated into people’s lives, all but ignoring Wall Street, and constantly looking toward the future.  But that doesn’t mean he doesn’t value other people’s advice. In a post on LinkedIn, CNBC tech correspondent Jon Fortt said the Amazon CEO had three all-day book clubs for his senior managers over the summer. It’s not a surprising management technique from a man who revers the written word. He typically starts meetings of his “S-team” of senior executives with 30 minutes of silence while they read through dense, six-page printed memos, so they’re all starting with the same ideas and framework in mind. In the recent book clubs, Bezos had those top executives read classics that helped him sketch out the future of his company. They are:

“The Effective Executive” by Peter Drucker

Drucker is one of the principle founders of modern management theory, helping create and broadly popularize ideas that seem commonplace now, like the fact that companies should be decentralized rather than run via command and control, and “management by objectives,” where both leaders and employees work toward a set of goals they understand and agree on. This particular book focuses on how to develop the personal habits of time management and effective decision-making that allow an executive to stay productive and contribute their best to an organization.

“The Innovator’s Dilemma” by Clayton Christensen

This book, first published in 1997, can safely be called one of the most influential business books of all time. Even if the term “disruption” has since been co-opted by the startup world and dramatically overused, his core theory of how businesses get disrupted is just as relevant today. New technology allows smaller companies to make cheaper products, which at first appeal only to customers at the margins. But before the largest businesses realize it, they take over entire markets.

“The Goal: A Process of Ongoing Improvement” by Eliyahu M. Goldratt and Jeff Cox

The last book is very different from the two previous ones. It’s not a classical business book based on a series of studies of a real-world company, but is instead a novel about a manager tasked with turning around a failing manufacturing plant. It sounds strange, but it was a best-seller and has helped spawn business theories in its own right.

12 Extremely Successful People Reveal How They Find Talent: Look for people who make you somewhat uncomfortable. Look for intellectual curiosity and people who are different than you

12 Extremely Successful People Reveal How They Find Talent

MAX NISEN AND VIVIAN GIANG SEP. 25, 2013, 4:06 PM 49,326

Talent is the most important asset in any company, and the most successful leaders know it. In a new LinkedIn series titled “How I Hire,” more than 80 top executives — including billionaire Richard Branson, former Bank of America exec Sally Krawcheck, and Warby Parker’s Neil Blumenthal — break down the core of their hiring philosophies.  Although these entrepreneurs and business leaders have stepped outside of the day-to-day process of hiring, they still spend a lot of time thinking about the sort of people they want on board. A common theme? Resumes and qualifications are less important than they seem. These leaders also look for passion, and seek people with unusual experience that can add something new. In other words, you can have the wrong resume, but still be right for a job. Virgin Chairman Richard Branson: Hire for personality first, and look at qualifications last. Read more of this post

Failure versus face: how can Asia produce startups despite its culture?

Failure versus face: how can Asia produce startups despite its culture?

September 26, 2013

by Anh-Minh Do

You can blame China. It’s the biggest, most influential, and most long-standing civilization in Asia that came up with such aphorisms as:

A family’s ugliness should never be publicly aired.

By ugliness it means misfortune. And since Chinese civilization has dominated, conquered, influenced, and traded with almost every civilization in the Asian continent, rest assured the Middle Kingdom’s values have spread far and wide. Asians don’t want to lose face, much less misplace it. This is a nightmare for building a healthy startup culture.

What face does for failure

As some historians and translators have noted, it’s impossible to translate ‘face’. But it boils down to doing what is acceptable and honorable in society in light of what other people think of you and yours. Failing will surely result in losing face. Is it any wonder then why Asian parents want their children to become doctors, engineers, and lawyers? These are secure jobs that are guaranteed careers. The Asian status quo is wealth, good family, and health. Breaking the status quo is certain to cause a loss of face. It’s too risky. But that’s what startups are about. Read more of this post

The Koffler Group, a US-based family office, has traditionally travelled light when it comes to debt, but Campden talks to the third-gen who has been fearless in making sure it now has a mixed bag of investments

TRAVEL MONEY

ARTICLE | 26 SEPTEMBER, 2013 10:43 AM | BY PAUL GOLDEN

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The family fortune may have been made by an inherently conservative investor with a flair for designing suitcases, but when it comes to investment strategy subsequent generations of the Koffler family have been determined not to carry any baggage. Sol Koffler is a poster child for the American dream. Arriving in the US from eastern Europe in 1920 at the age of 13, he started selling $1 suitcases as the Great Depression reached its peak. Over the next 46 years he built American Tourister into the second largest luggage company in the country. The Koffler Group family office was established in 1979 from the proceeds of the sale of American Tourister to the Hillenbrand Company and for 14 years was run on the same prudent lines by an entrepreneur who didn’t believe in taking on debt. Read more of this post

Barclays Plc will stop offering wealth management services in about 130 countries by 2016 and cut jobs in the unit

Updated: Thursday September 26, 2013 MYT 9:06:19 AM

Barclays too shut Wealth Management Services in 130 countries

LONDON: Barclays Plc will stop offering wealth management services in about 130 countries by 2016 and cut jobs in the unit as part of an effort to rein in costs and boost profit, the Financial Times reported on Wednesday, citing the British bank. Barclays announced plans in April to restructure its wealth business so it works more closely with retail and corporate banking divisions. Further details on the wealth strategy had been expected. The bank appointed Peter Horrell as the wealth and investment management unit’s chief executive on Monday. Horrell has held the position on an interim basis since May. – Reuters

 

Nomura Says China May Allow Defaults of Local Debt

Nomura Says China May Allow Defaults of Local Debt

(Corrects name in second paragraph.)

Policy makers in China may allow some local governments’ debt to default next year to improve market discipline as borrowings surge, according to Nomura Holdings Inc. Local government financing vehicles’ debt grew 39 percent from 2010 to 19 trillion yuan ($3.1 trillion) as of the end of 2012, Nomura economists led by Zhang Zhiwei wrote in a report released today. That’s 37 percent of gross domestic product, according to the investment bank. China will complete an audit of the debt this month to assess risks to its financial system, ahead of a Communist Party meeting in November to set economic policy. Non-performing local-government and corporate liabilities will probably have a “significant impact” on China’s credit and economic growth, according to half of the economists in a Bloomberg News survey conducted in July. Read more of this post

What Investors Should Know About Shanghai’s Free-Trade Zone

September 26, 2013, 10:05 a.m. ET

What Investors Should Know About Shanghai’s Free-Trade Zone

WEI GU

Shanghai’s free-trade zone is set to launch Sunday despite almost no clarity about what exactly will be freely tradable. Investors have bid up the shares of real-estate companies in the zone and pundits have made predictions ranging from currency convertibility to access to Facebook FB +1.86% . In the first case, investors are thinking too narrowly; in the second, the pundits aren’t thinking much at all. The Chinese government historically hasn’t made big, bold changes all at once, but has taken incremental approaches to new and risky ventures. The step-by-step internationalization of the yuan is a good example. Read more of this post

Maersk Line CEO: We Misjudged Container-Shipping Demand when we ordered billions of dollars’ worth of new vessels two years ago

September 26, 2013, 7:04 a.m. ET

Maersk Line CEO: We Misjudged Container-Shipping Demand

Shipper Now Counting on Cargo-Sharing Alliance to Cut Costs

COSTAS PARIS And CLEMENS BOMSDORF

Søren Skou, the chief executive of Maersk Line, said the Danish group misjudged the strength in demand for container shipping, which has proved far more sluggish than it expected when it ordered billions of dollars’ worth of new vessels two years ago. Photo: Bloomberg

COPENHAGEN—The chief executive of Danish shipping group Maersk Line said Thursday the company misjudged the strength in demand for container shipping, which has proved far more sluggish than it expected when it ordered billions of dollars’ worth of new vessels two years ago. The world’s biggest container shipper is now counting on the planned P3 cargo-sharing alliance with European rivals CMA CGM and Mediterranean Shipping Co. to cut costs and reduce the number of their ships plying major routes between Europe and Asia to 250 from 300, Soren Skou said in an interview with The Wall Street Journal. Read more of this post

Two thirds of Australian family businesses do not have a succession plan in place despite the majority of family chief executives being over the age of 50 and nearly 20% being over the age of 65

AUSTRALIAN FAMILY FIRMS FAILING TO PREPARE FOR SUCCESSION

ARTICLE | 23 SEPTEMBER, 2013 04:40 PM | BY JESSICA TASMAN-JONES

Two thirds of Australian family businesses do not have a succession plan in place despite the majority of family chief executives being over the age of 50 and nearly 20% being over the age of 65, according to a KPMG and Family Business Australia survey. Seventy-two per cent of family businesses listed balancing family and business issues as the primary challenge for their family firm, and 67% said maintaining family ownership was a primary concern. The biennial report, this year titled Performers: resilient, adaptable, sustainable and conducted in collaboration with the University of Adelaide’s Family Business Education and Research Group, found 71% of families intend to retain family ownership, but around half would consider a sale if approached. First generation firms were more likely to consider a sale than family firms in their second generation or beyond. Read more of this post