About this section.Byline: The Register-Guard The idea to produce a special section focusing on local family businesses began late last year as planning got under way for coverage of this month's 75th anniversary of the Baker family's ownership of The Register-Guard. A little bit of research on the general topic of family businesses turned up some fascinating information: Between 80 percent and 90 percent of all businesses in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. are family firms. About 37 percent of Fortune 500 companies are family-owned; 60 percent of all public companies are family-controlled. Family businesses account for 60 percent of total U.S. employment, 78 percent of all new jobs, more than 50 percent of the Gross Domestic Product, and 65 percent of all wages paid. More than 30 percent of family businesses survive into the second generation, 12 percent survive into the third and 3 percent survive into the fourth. The average life span for a family business is 24 years. The research underscored the significance of the Baker family's accomplishment in maintaining independent ownership of The Register-Guard through three generations and three-quarters Noun 1. three-quarters - three of four equal parts; "three-fourths of a pound" three-fourths common fraction, simple fraction - the quotient of two integers three-quarters npl → of a century. But it also suggested that a broader look a local family businesses would showcase the richness, diversity and magnitude of their contribution to our economy and community. From modest mom and pop Mom and Pop An adjective denoting a small-scale and family-like atmosphere, often used to describe these types of businesses and investors. Notes: A mom-and-pop business is typically a small family-run business. storefronts to multistate mul·ti·state adj. Of, relating to, or involving several states: a multistate environmental campaign. mega-corporations, this area is home to just about every kind of family business imaginable i·mag·i·na·ble adj. Conceivable in the imagination: imaginable exploits. i·mag . In addition to the saga of Alton Alton (ôl`tən), city (1990 pop. 32,905), Madison co., SW Ill., on bluffs of the Mississippi River 5 mi (8.1 km) above its confluence with the Missouri; inc. 1837. Alton is a shipping and industrial center, and there are oil refineries nearby. F. Baker Sr.'s local newspaper legacy, this section presents a few words-and-picture snapshots from what might be called Lane County's "family business album." |
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