Tag: Al Schneider

Schneider feud erupts again: heiresses attack heiresses over ‘desperate grab at power’

Galt House
The Galt House is the jewel in the Schneider real estate crown.

Well, that ceasefire didn’t last long.

Reigniting a family fight, Schneider Co. CEO Mary Moseley and her sister Dawn Hitron have accused their other two sisters of a “desperate grab at power and control power play” to prevent the sale of their late father’s $280 million real estate empire, The Courier-Journal is now reporting. In a blistering claim filed in a long-running lawsuit, they’re demanding their siblings pay them damages for “derailing” the sale of the Galt House hotel downtown and other properties.

The battle had appeared over just two weeks ago, when Moseley, 66, and Hitron, 62, a homemaker, agreed in Jefferson Circuit Court to drop a plan to sell the real estate before the end of May, when a trust expired and control flowed to all 24 of Schneider’s beneficiaries, according to the newspaper.

Al Schneider
Schneider

But in the new 49-page claim filed Tuesday, the two sisters want to recover damages for the thwarted sale of the assets to Columbia Sussex for $135 million, which they said was far in excess of appraised value, the CJ says. The hotel is the marquee property their father, Al Schneider, bequeathed to his children when he died in 2001 at 86.

The fight has already dragged on through four courts and required 10 lawyers. It’s divided the four sisters — three of whom live in adjacent houses on the same block off Newburg Road; a fourth is just a mile away — in a business drama rivaling the 1980s Bingham family meltdown over their media business. The two sisters on the other side of Moseley and Hitron are Christy Coe, 64, a nurse practitioner, and Nancy O’Hearn, 70, who owns an event planning company.

In Brown-Forman’s first family, an exceptional tale of beating the odds for 150 years

Boulevard focuses on news about some of Louisville’s biggest employers, nonprofits, and cultural institutions. This is one in an occasional series about them.

The spirits and wine company best known for its Jack Daniel’s, Old Forrester and Korbel brands is one of Louisville’s most storied companies. George Garvin Brown, a young pharmaceuticals salesman, started it in 1870 with $5,500* in saved and borrowed money.

Nearly 150 years later, his fifth-generation descendants sit on the board of directors, which George Garvin Brown IV chairs. And the company employs 4,000 people worldwide, with 1,000 in the Louisville area at the headquarters at 840 Dixie Highway and elsewhere.

Garvin Brown IV
Garvin Brown IV

The Browns control the company through their majority ownership of the voting Class A shares — a stake worth more than $10 billion, making them America’s 20th most-wealthy family, according to Forbes magazine. The Browns and the company are major supporters of Louisville cultural institutions, including the Speed Art MuseumFrazier Museum, and Actors Theatre.

The family’s hold on Brown-Forman is exceptionally rare in American business. More than 30% of all family-owned companies survive into the second generation, according to the Family Business Alliance. But the numbers dwindle rapidly after that: Just 12% make it to the third generation, and a slim 3% survive to the fourth and beyond. With the ascension of three new fifth-generation Browns to the board of directors Thursday, Brown-Forman is now firmly in fifth-generation hands.

To be sure, there are other resilient families. Just last month, Walmart announced a third generation member — Helen and Sam Walton’s grandson, Steuart Walton — was joining the board. The Mars family still owns their candy company, 105 years later. And the Sulzbergers are grooming a fourth generation to run The New York Times.

But other clans are struggling: The Redstones are now embroiled in a jaw-dropping battle over a $40 billion empire that includes Viacom and CBS. A family fight over the future of the Al Schneider real estate fortune has pit sisters against sisters. And we all know about the collapse of the Bingham family’s media holdings amid third-generation infighting in the 1980s.

In Thursday’s reshuffling of the board room, the Browns hope to avoid that fate.

Sisters are neighbors — and sworn enemies, too — in $280M Schneider family fight

Galt House
The Galt House hotel is the jewel in the Schneider real estate crown.

The just-resolved legal battle over the late Al Schneider‘s real estate empire “prompted a war of words” between four sisters — three of whom live in adjacent houses on the same block off Newburg Road; the fourth lives less than a mile away, The Courier-Journal reports today.

Al Schneider
Schneider

It dragged on through four courts and required 10 lawyers, “one of those unfortunate family disputes that you hate to see,” said Rebecca Jennings, an attorney for sisters Mary Moseley and Dawn Hitron.

Moseley, 66, CEO of the Al J. Schneider Co., and Hitron, 62, a homemaker, agreed in court yesterday to drop a plan to sell the Galt House hotel and other high-profile assets worth more than $280 million before a May 31 deadline. Now, all 24 of Schneider’s heirs will decide what’s next, the newspaper says.

The other two opposing sisters were Christy Coe, 64, a nurse practitioner, and Nancy O’Hearn, 70, who owns an event planning company. Ironically, the CJ says, Coe’s husband Randy for many years tried to keep other family-owned businesses out of trouble as director of University of Louisville’s Family Business Center.

Schneider, the patriarch, died in 2001 at 86.