A dozen family-owned businesses that have made a significant impact on the Michigan and the world economies are the first inductees into the Family Owned Business Hall of Fame at GVSU. The group was honored at an induction ceremony and dinner on October 2.
The 12 were honored for their industry leadership, philanthropy, and contributions to Michigan's economic diversity. The honorees are Alticor, Bissell, D&W Food Centers, Inc., Gordon Food Service, Inc., Haworth Inc., Howard Miller Co., Irwin Seating Co., Lorin Industries, Inc, Monarch Hydraulics, Inc., Meijer, Louis Padnos Iron and Metal Co., and Steelcase Inc.
Several prominent executives were on hand for the induction ceremony, including: Fred Meijer, Dick DeVos, Win Irwin, John Gordon Sr., Peter Wege, G. W. Haworth, Tom Jackoboice, and Jack Miller.
The purpose of the Family Owned Business Hall of Fame is to recognize notable family-owned businesses for their significant impact and contributions to the region. The companies were selected by a committee of five GVSU executives and were judged on the following criteria:
- Exemplary leadership through their continued family ownership for more than 45 years of operation as a family business that is still privately held or privately controlled
- At least one generational change of corporate family leadership
- Significant economic impact in the region as measured by the most recent year's sales (or related instruments) in dollars; active community and philanthropic involvement
- Industry leadership and contribution to the economic diversity of the region
The event's sponsor was Miller, Johnson, Snell & Cummiskey, P.L.C. Family-owned businesses of all sizes seek and receive legal counsel regularly from Miller, Johnson. The firm's attorneys routinely advise these businesses on tax, estate and succession planning, asset protection, debt and equity financing, employee benefits, employment matters, acquisitions and divestitures, and other matters that present particular challenges to a family-owned business. The firm consists of 87 lawyers, of which 73 are in Grand Rapids and 14 are in Kalamazoo.
The Family Owned Business Institute at GVSU's Seidman School of Business was created in partnership with the Grand Rapids Area Chamber of Commerce with the belief that family businesses are the cornerstone of a community's prosperity and a vital ingredient in its quality of life. For more information visit www.fobi.gvsu.edu.
