The Church of 'Scionology'
When you spend your life building a successful business, whether it's a small bakery or a corporate empire, it's a natural step to hand off the reins to your son or daughter. However, economic research shows that transferring a business to an heir is, on average, a terrible idea. Profitability, for example, drops an estimated 10 to 20 percent. In this hour of Freakonomics Radio, we take a look at the surprising economics of succession. From Anheuser-Busch to Warren Buffett, we hear about fractured families, inept heirs, and some people who've found interesting ways to beat the odds of failure.
Learn more or listen again to this week's episode.
Photo: Dick Yuengling, CEO of D.G. Yuengling & Son brewery, stands on the bottle shop floor with a bottle of his lager. (Courtesy of Yuengling Brewery)