ATV - Family style

From SCMP’s City section, December 16, 2008, on ATV’s recent management turmoil, one employee of ATV (亞洲電視) commented:

“[ATV] has no culture, no goals and no communication. Everybody doesn’t know what others are doing but they are all burning money.”

Hm...I am guessing 90% of the family business in Hong Kong is operated as such.

The upside: I think there are tones of value to be unlocked in these companies given the right management, and the trust of the family shareholders in the management. But the question remains if the lot of family shareholders has the patient and will to sit back and watch changes unfold.