The Owner's Box @WashU Olin

A few weeks back, Peter Grant from the Wall Street Journal reached out with a question. How do families with real estate approach this investment differently than a fund? For Grant, the Wall Street Journal commercial real estate writer, his focus was on commercial real estate in New York. He had started to note something unusual in this space -- those families who had long committed to never sell were doing... just in fact that. Special Guest: Susan Fitzpatrick.

In 2024, Peter Boumgarden had the opportunity to lead a group of researchers and commissioners in a shared venture between Washington University in St. Louis and the Brookings Institution looking at the shifts of ownership for privately held firms. Because of the amount of these that are owned by baby boomers, it is often called a kind of silver tsunami. Today, you are going to hear pieces of that story from a few members of the team.

For those of you playing along at home.... while this season has highlighted a number of different voices, there is at least one that is characteristically missing -- that of a female owner taking over leadership of their family business. Our discussion with Carolyn Kindle at St. Louis CITY SC hit on pieces of this work, but this was in the context of starting something new -- a soccer club in the MLS. There is something different about stewarding something that already exists. How do you lead that well? What does it mean to own something from a deep understanding of who you are. And so with that, we queue up, Cindi Bigelow of Bigelow Tea. Special Guests: .

In the space of ownership, the vision of building, scaling, and selling has become a shared mantra of success in the world of business schools formed in the shadow of Silicon Valley. But to suggest all businesses must follow this path is like assuming all runners need to be marathoners. Let’s put this in context by focusing our attention on the owner-operator. How does one approach an attempt to own something for the long run? How does one prepare to steward a legacy throughout the inevitable and yet unexpected changes coming down the pipe?

Welcome to Episode Five of the Owner’s Box by WashU Olin’s Koch Center for Family Enterprise. This week, we learn from Michael and John Kennedy on how they have worked together as siblings and a broader family to build out Fraiche Wine Group.