Building Success with Business Ethics: Advice from Business Leaders (Collection)

Chapter Ten Your Name Is On the Door

Operate businesses and organizations as if they’re family owned.

My brother Blaine and I started the family business in 1970. Huntsman remained a family-owned and-operated company for 35 years, eventually becoming the largest in America. Early in 2005, we decided to go public as a way to reduce debt with new capital and increase Karen’s and my philanthropy. My family continued to run Huntsman Corp. in a similar manner as we did when the corporation was privately owned because it still carried our name.

Although we are going down this new road with the best of intentions, it saddens me that today’s ownership complexities or a need for additional capital eventually forces many family businesses to face the same ...