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Father Knows Best

It was a great TV show that Baby Boomers (including yours truly) grew up with in the 1950′s. Jim Anderson, the conservative and paternalistic father played by Robert Young, seemed so much in control, and provided his son Bud with a steady hand and solid guidance. Apparently this hasn’t been the case for Harry Macklowe. The Macklowe family received star billing in today’s Wall Street Journal, reporting that son William (known as Billy to insiders) is poised to boot Dad aside and take the helm of the family enterprise. This comes on the heels of the announced sale over the weekend of the crown jewel: the GM building along with three other NYC office properties. The younger Macklowe is publicly trying to distance himself from Dads “swashbuckling” style, having bet the ranch last year on a $7 billion purchase of seven office buildings, a deal that brought the business, and the family, to the brink. Companies are increasingly focused on succession planning to prepare for an orderly transition of management. The Macklowe approach isn’t exactly what most organizational consultants have in mind.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author&’s own.
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