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. More: * 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. Sources: https://www.wsj.com/podcasts/secrets-of-wealthy-women/carol-lavin-bernick-leading-a-family-business/6c4779b2-6157-4078-a518-4c339cd75881 https://www.unilever.com/news/press-releases/2010/10-09-27-Unilever-to-acquire-Alberto-Culver.html This blog post first published at https://wieldsilver.com/2020/blog/ Copyright © wieldsilver.com and individual authors (unless otherwise noted) wieldsilver.com statement - I blog about products for which I own company shares.