The Governance and Roles of Owners

You need a place where the owners could come together to talk about their issues and in our case because we said the in laws do not have shares and we had a family meetings and 90% of the families decide to discuss this at the family meeting wait a minute you can't say to my son-in-law and my daughter-in-law because they don't have shares would you please leave the meeting that’s the worst thing you could do we want to have a meeting among owners we can't start doing that maybe the time is for us to review and say maybe we need an order's organization small but where the owners come together talk about their issues as owners and people say to me what the hell do owners have to do about the governance of the business for instance we've got a board of directors they're responsible for that we gave the authority and to do that you've got the family on the other side I said now wait a minute owners have a voice owners have got something to say who's going to say to the board what kind of a risk are you going take with my business how much risk are you going to take in this business you going to take a lot of risk or just a little bit of risk this is kind of my money too you know you board members are not shareholders in our company you're helping us and thank God you're there but we need this an owner has to determine what kind of risks are going to take Another role the owner's play say you know that's the kind of a CEO we'd like to have in the company we won't choose them the board will choose them we don't we don't want this guy who has this high risk and decide to go to Europe right away you know we've got to develop our business now so the owners have something to do about the risk level they have to do something about the kind of CEO that they want they have something to do about the kind of partners we're willing to have what the hell are you doing with those high venture guys that want to risk the whole body we don't want those kind of guys and they said well look we're responsible, your responsibility to do the corporate governance but there are thing is that we as owners would like to keep the privilege of saying.