Being a Maritimer, this sort of thing is bigger than a blue moon, a cow jumping over the moon or hell freezing over:
The legendary Irving family is moving to break up its $6-billion business empire as it struggles to accommodate the demands of new generations, thus ending a 125-year-old Canadian dynasty. Sources familiar with the sprawling family conglomerate say the three principal owners, brothers J.K., Arthur and Jack, all in their 70s, are engaged in tense discussions that will see the various Irving businesses split among family members.Oh. for the days of utter media control of New Brunswick and the Irving girl...one of whom I knew. It's like watching King Lear and knowing how the ending works out.
Who gets the Big Stops? And will they still reprimand staff if you can see any of the plate through the fries?
Comments
Hans - November 21, 2007 9:54 am
I think vertical integration, which is the business model on which the Irving Empire operated, can only work for so long because, at some point, if the various business arms in the empire are successful, they start to get other customers besides the sister companies and have to start acting like a real business. At that point, they have to start billing the sister companies just like its other customers and when that happens, the point of vertical integration (using the strengths of one branch to compensate for the weaknesses of the other and centralization of decision-making based on a common goal) is lost. Of course, all the family members could still be equal shareholders in the holding company that owns the whole. I'd hate to see anyone left out.....
Brother Iain - November 22, 2007 4:57 am
Who will rule us now?
Alan - November 22, 2007 8:48 am
Who gets the Jack Pineau sports jacket collection?