The blunders that toppled three family business giants

By Leon Gettler

While Fairfax is now making profits and publicly listed, the experience with Warwick Fairfax was the beginning of the end of the family's involvement  in the business it had created back in 1841 when John Fairfax bought The Sydney Morning Herald, resulting in generations of the Fairfax family controlling the company.

James Kell, the managing director whose great-grandfather founded the business, said the company was not ready for the transition into apartments. "The traditional builder contract model for apartments does not work," he told The Australian Financial Review at the time.

Read more here: Business Spectator

    

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