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Yuengling's Revival
- D.G. Yuengling & Son, America's oldest brewery, faced near bankruptcy in the mid-20th century.
- Dick Yuengling, the current CEO, revived the company through slow, steady expansion.
Profitability Drop
- Family businesses often experience a 10-20% drop in profitability after the founder hands over control.
- This insight comes from economist Antoinette Schoar's research on family firm performance.
Stock Price Drop
- The stock price of family firms drops 10-15% when a family member takes over as CEO.
- This drop is primarily driven by CEOs who didn't attend selective colleges, suggesting a lack of ability or effort.