In the feature article of this issue of Owner to Owner, we sit down with Tim Belk, former CEO of the Belk department store chain, to discuss what running a family business entails, the process of selling his family’s 127-year-old company and why organic farming is one of his post-Belk ventures.

In addition, Senior Vice President Travis Dunn and Vice President Nicholas Maglio provide an overview of family business governance, including its definition and purpose, benefits, resource commitment and steps to begin implementation. Finally, Wealth Planner Ross Bruch examines the role buy-sell agreements can play in helping family businesses plan for succession.

As always, we review the overall economy, credit markets and private equity and mergers and acquisitions markets.

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