Top family fortunes face up to the challenges of change

Article Abstract:

The biggest family fortunes in Australia are changing, as heads of families like Kerry Packer and Frank Lowy pass along the businesses to their more technologically-minded children. Kerry Packer embraces the Internet, but it will be son James Packer who is responsible for its developmental applications and the success of the Packer Internet company Ecorp Ltd. Similarly, Frank Lowy's son David believes the Internet will be essential in marketing direct shopping and will not be a threat to the family's shopping center business.

Family, Packer, Kerry, Lowy, Frank, Children of the rich, Rich children

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Tough acts to follow

Article Abstract:

Younger members of Australia's wealthy business families must explore new technologies and apply wealth creation techniques to keep financial pace with previous generations. In the first 40 years of the 20th century, wealth creation took advantage of new technology, cash-producing businesses, and the development and operation of businesses. In the 21st century, junior members of the Packer, Murdoch, Lowy and other families must take advantage of new technologies such as the Internet and

Methods, Usage, Economic aspects, Education, Executives, Technology, Protection and preservation, Wealth, Financial management, Murdoch, James, Packer, James, Lowy, David

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Ford seeks a new way of selling

Article Abstract:

Geoff Polites, president of Ford Australia, is attempting to reinvent the dealership system and turn Ford into more of a consumer company with Internet sales and sleeker distribution and inventory methods. Distribution costs make up 30-40% of the cost of a vehicle. With use of the Internet and smaller inventory, cars can be directly delivered to customers quickly and at a lower cost.

United States, Motor Vehicle Dealers, Motor Vehicle and Parts Dealers, New and used car dealers, Inventory Control, Direct Sales Distribution, Planning, Automotive dealers, Automobile dealers, Distribution channels, Ford Motor Company of Australia Ltd., Direct selling, Polites, Geoff

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