CORPORATIONS: End of a Family Fight

CORPORATIONS End of a Family Fight

Like a child torn by a parental custody fight, Genesco, the sprawling retail and apparel concern, rocked back and forth for years in a war for control between two strong-willed personalities: W. Maxey Jarman and his son Franklin. In the end both lost. Four years ago, Franklin, now 45, ousted his father as company head and set about stripping Genesco of unprofitable businesses that Maxey had acquired in an unsuccessful attempt to expand sales to $2 billion a year. (They are about half that now.) Then, last week, Franklin himself was bounced in...

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