Family business lasts 150 years without a fatal blowup

07/1/2011 | Entrepreneur online

The Grucci family has built a multimillion-dollar fireworks business that has remained independently owned only by family members for the past 150 years. The Gruccis share their three tried-and-true rules for business success in a competitive market: cost cutting, diversification and teamwork. "For me, the dream my father and mother had -- one of independence without outside investors -- is the dream I wish to keep alive today," said executive vice president and CFO Felix Grucci Jr.

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