Thirteen Centuries and 43 Generations of Family Business Wisdom from the World’s Oldest Family Business – Hōshi Ryoken. Hōshi (法師) is a ryokan (Japanese traditional inn) in the Awazu Onsen area of Komatsu, in Ishikawa Prefecture, Japan. Founded in 718, has been owned and managed by the Hoshi family for forty-six generations. We will be joined by owner Zengoro Houshi and general manager Satoru Saka.
For any Cornellian or New Yorker who has traveled through the state, they are very familiar with Stewarts’ Shops as a community place for gas, milk and conversation. Founded in 1945 in Ballston Spa, the company now has 337 shops in operation and reaches from the Canadian border to the northern fringe of New York City, as well as locations stretching into Vermont as well. On day 4 of the 2020 Families in Business Conference, we sit down with Gary Dake, 3rd generation President of the venerable Stewart’s Shops brand, with business roots that date back to the family dairy farm in 1917. During the Coronavirus pandemic, Stewart’s has been on the front lines as an essential business and a stalwart in many rural communities. The company, while it remains family-owned, also offers an employee stock ownership plan which accounts for nearly 40% of company ownership. As a result, there are 67 current or former long-time Stewart’s workers with retirement balances of more than $1 million in the ESOP. Gary will share the Stewart’s story, along with a few family connections to Cornell, the importance to the communities Stewarts serves, and how the business has fared during the current pandemic.
2:00 – 3:00 pm Cross Cultures – How Global Families Negotiate Change, with Dennis Jaffe, Cornell Family Business Fellow.
6:00 – 7:00 pm A (virtual) Taste of Family Business with Alan Rosen ’91, CEO of Junior’s Cheesecake
Alan is the third generation of the Rosen family to lead the venerable New York City brand. Founded by Harry Rosen in 1950, Junior’s has been famous for great food, great fun, great service, and, of course, the best cheesecake. The original location in Brooklyn on Flatbush Avenue is still thriving. The current pandemic has caused major changes in how Junior’s operates, and Alan will share the family business story and challenges up until now and many still to come. Participants are invited to sample some of “the world’s most fabulous cheesecake” together with Alan and fellow conference attendees by ordering direct from Junior’s Cheesecake prior to the tasting.
Friday, October 30, 2020
12:00 pm – 1:30 pm
Closing Panel – “Defining Business in the Next Generation” An accomplished panel of family business founders and successors will share their perspectives on launching and maintaining their family business through challenging times.
Michael Liersch, Head of Advice and Planning for Wealth and Investment Management at Wells Fargo