(Not an Advertisement) A link to a notable resource: Rule Breaker Investing - A Motley Fool Podcast

By author Morgan Jassen on wieldsilver.com

2020-12-30 11:42

Review on WSJ “Secrets of Wealthy Women podcast” (2020-07-01 episode - Carol Lavin Burnick)

This is mainly a review of the WSJ “Secrets of Wealthy Women podcast” (2020-07-01) episode about "Carol Lavin Burnick".

(similar to my presentation from the 2020-08-08 “Investing Meetup Group”)

Carol Lavin Burnick and family owned and ran Alberto-Culver company until Unilever acquired it for ~$3.7 billion in 2010.

Alberto-Culver did $125 million in sales in 1974. The then-new product "Mrs. Dash" added $22 million per year sales.

The persona of Burnick says in the podcast episode, that after an Alberto-Culver board change, then came a culture change where people could have flexible hours -- could be real people and still work at Alberto-Culver.

Burnick's persona also says in a family business children can learn values and family working as a team is cool. Also says about her own kids' inheritance and how she talked with her adult kids about this. For example says a lot of the inheritance will sit in investments and won't be touched but will be invested to benefit future generations.


* Some historical Alberto-Culver products: 
** Alberto VO5
** TRESemmé®
** St. Ives®

* Some of Alberto-Culver's challenges over the years were: 
** A Union strike
** Government regulations on product ingredients.

* There was internal Alberto-Culver debate whether or not to expand one product line overseas.

In conclusion this is a reveiw of this podcast episode.


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