https://www.freep.com/story/sports/nfl/lions/2019/12/17/detroit-lions-matt-patricia-bob-quinn-bringing-back/2677346001/
The article is about the Lions, but the Ford family philosophy remains the same. The third paragraph says it all.
3 replies (most recent on top)
Age old story, those that have grown up with plenty of money lack the work ethic and drive of the people who originally made the money for them. They stack the board of directors with friends and family and trust that they have their best interests in mind. This is so much easier that doing the hard work.
Ford had a good run, most family run companies are gone in the 3rd generation. Ford made it to the forth generation before the impending belly flop.
@4loh You neglected to include nepotism. Nepotism = incompetence by 5x
It's because incompetent people have taken over the company and they just promote each other.