Great American family firms

In the modern age of giant international companies, you might be surprised by how many multi-billion-dollar firms continue to be effectively controlled and managed by descendents of the founding family.

Then again, perhaps it's not such a surprise. The typical family firm tends to have deep, embedded knowledge about its industry, a long-term strategic horizon and a strong balance sheet to help it weather the harsher phases of the economic cycle -- qualities that tend to foster steady, sustainable growth decade after decade.