displayfireworks1
01-11-2014, 08:39 PM
Zambelli Fireworks 2014 calendar.
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Zambelli Fireworks New Castle always sends out a yearly fireworks calendar to all their customers and helpers. Along with this years calendar is a letter. The letter discusses changes in management at the Zambelli Fireworks. Just to bring everyone up to speed George Zambelli Sr. died on Christmas Day 2003. Until recently a gentleman named Doug Taylor was hired to run the company. In November 2013 Doug Taylor left the company.
The letter included with the calendar discusses the change in management but does not clearly state what the future direction of the company is. The letter is signed by George Zambelli Jr. and a person named "Ed Meyer" with the title "Managing Partner".
I became curious about who is "Ed Meyer"
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http://www.archibaldfrozendesserts.com/ed.jpg
Ed became CEO of Archibald in April of 2010. He has been a Director of AFD since 2002 when his investment firm, Easton Capital Partners, first made an equity investment in AFD in 2002.
For twelve years prior to joining Easton Capital in 2000, Ed was an Executive Vice President of Constitution Capital Corp., a private equity investment company he helped form. While at CCC, he negotiated, structured and closed equity investments in a variety of industries, including optical retailing, liquor distribution, information storage, food service, golf course development, real estate and glass manufacturing. Ed began his financing career with E.F Hutton in 1977, became Vice President in Corporate Finance with Shearson in 1979, and a Managing Director with Goldome Strategic Investments in 1985, before forming Constitution Capital. He is a Board member of Archibald Frozen Desserts and JavaBrands LLC and a Board observer of Zambelli Fireworks Internationale. Ed is an Honors graduate of Kenyon College in Ohio and received his MBA from the University of Chicago.
Ed's food and beverage investment activity dates back to June of 1989, when Constitution Capital invested $2.25 million of equity in the purchase of Charles Gilman and Sons, a leading Massachusetts liquor and wine distributor. In October of 1999 Constitution Capital invested $3.15 million in Yorkshire Global Restaurants, the owner of A & W Restaurants and Long John Silvers. The investment was sold in 2002 to YUM Brands, adding to their portfolio of restaurant chains that includes KFC, Pizza Hut and Taco Bell.
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One a side note according to the Small Business Administration two of three second generation business fail for the following reasons.
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1.Ivory Tower Mentality - Knowledge Failure
Successful first generation business owners had the ability to send the next generation to college to learn improved business skills. Unfortunately, many of these professors in business schools never worked in the real world, but rather pontificated what they believe should be instead of what is is.
2.External Customers Relationships transfer - People Failure
First generation business owners knew that their businesses needed loyal customers and took the time to develop these relationships. Second generation business owners believe that the relationships their fathers or mothers had would automatically transfer to them.
3.Source of Employee Loyalty - People Failure
The loyalty of many employees within family businesses began with the first management team and not necessarily with the company. When the second generation came in, they believe that the employees loyalty was to the company.
4.No Plan - Knowledge and People Failure
The success of many small businesses came from the entrepreneurial spirit and not necessarily from having a plan. With no plan to hand over, the next generation continues to conduct business without a solid written business plan. In today's market place any business that does not have both a strategic plan for establishing a new vision and a strategic action plan will have great difficulty in surviving less along thriving.
5.Performance Savvy - People Failure
Since businesses are comprised of people, managing people takes an understanding of what motivates people to do their very best. For example, when the current management team cries poverty and can't afford raises for the employees, but then purchases brand new expensive cars, their actions have a negative impact on the employees. Employees don't mind new cars, but do mind luxury cars.
6.Assumptions - Knowledge and People Failure
Today's second and third generation business owners carry numerous assumptions that were true for their parents or grandparents, but not necessarily true today. Assumptions include:
•Market place
•What motivates employees
•How much time the business demands
•Owner entitlements
.
When and if the business makes it to the third generation the failure rate increases further.
.
.
Zambelli Fireworks New Castle always sends out a yearly fireworks calendar to all their customers and helpers. Along with this years calendar is a letter. The letter discusses changes in management at the Zambelli Fireworks. Just to bring everyone up to speed George Zambelli Sr. died on Christmas Day 2003. Until recently a gentleman named Doug Taylor was hired to run the company. In November 2013 Doug Taylor left the company.
The letter included with the calendar discusses the change in management but does not clearly state what the future direction of the company is. The letter is signed by George Zambelli Jr. and a person named "Ed Meyer" with the title "Managing Partner".
I became curious about who is "Ed Meyer"
.
http://www.archibaldfrozendesserts.com/ed.jpg
Ed became CEO of Archibald in April of 2010. He has been a Director of AFD since 2002 when his investment firm, Easton Capital Partners, first made an equity investment in AFD in 2002.
For twelve years prior to joining Easton Capital in 2000, Ed was an Executive Vice President of Constitution Capital Corp., a private equity investment company he helped form. While at CCC, he negotiated, structured and closed equity investments in a variety of industries, including optical retailing, liquor distribution, information storage, food service, golf course development, real estate and glass manufacturing. Ed began his financing career with E.F Hutton in 1977, became Vice President in Corporate Finance with Shearson in 1979, and a Managing Director with Goldome Strategic Investments in 1985, before forming Constitution Capital. He is a Board member of Archibald Frozen Desserts and JavaBrands LLC and a Board observer of Zambelli Fireworks Internationale. Ed is an Honors graduate of Kenyon College in Ohio and received his MBA from the University of Chicago.
Ed's food and beverage investment activity dates back to June of 1989, when Constitution Capital invested $2.25 million of equity in the purchase of Charles Gilman and Sons, a leading Massachusetts liquor and wine distributor. In October of 1999 Constitution Capital invested $3.15 million in Yorkshire Global Restaurants, the owner of A & W Restaurants and Long John Silvers. The investment was sold in 2002 to YUM Brands, adding to their portfolio of restaurant chains that includes KFC, Pizza Hut and Taco Bell.
.
.
One a side note according to the Small Business Administration two of three second generation business fail for the following reasons.
.
1.Ivory Tower Mentality - Knowledge Failure
Successful first generation business owners had the ability to send the next generation to college to learn improved business skills. Unfortunately, many of these professors in business schools never worked in the real world, but rather pontificated what they believe should be instead of what is is.
2.External Customers Relationships transfer - People Failure
First generation business owners knew that their businesses needed loyal customers and took the time to develop these relationships. Second generation business owners believe that the relationships their fathers or mothers had would automatically transfer to them.
3.Source of Employee Loyalty - People Failure
The loyalty of many employees within family businesses began with the first management team and not necessarily with the company. When the second generation came in, they believe that the employees loyalty was to the company.
4.No Plan - Knowledge and People Failure
The success of many small businesses came from the entrepreneurial spirit and not necessarily from having a plan. With no plan to hand over, the next generation continues to conduct business without a solid written business plan. In today's market place any business that does not have both a strategic plan for establishing a new vision and a strategic action plan will have great difficulty in surviving less along thriving.
5.Performance Savvy - People Failure
Since businesses are comprised of people, managing people takes an understanding of what motivates people to do their very best. For example, when the current management team cries poverty and can't afford raises for the employees, but then purchases brand new expensive cars, their actions have a negative impact on the employees. Employees don't mind new cars, but do mind luxury cars.
6.Assumptions - Knowledge and People Failure
Today's second and third generation business owners carry numerous assumptions that were true for their parents or grandparents, but not necessarily true today. Assumptions include:
•Market place
•What motivates employees
•How much time the business demands
•Owner entitlements
.
When and if the business makes it to the third generation the failure rate increases further.