Focus on family business at Ilitch school could help other companies
The many lasting impacts of Mike and Marian Ilitch have been well chronicled over the past week. Their investment and the move of the Little Caesars headquarters to the Fox Theatre earned Mike Ilitch the Crain's Newsmaker of the Year award for 1987. In 2016, he and son Christopher were honored — for an even bigger investment in the new Little Caesars Arena and The District Detroit development that will surround it. And Marian Ilitch has been on Crain’s’ list of Most Influential Women, not just for her role in the family businesses but as owner of MotorCity Casino Hotel. Recently, the Ilitch family gave Wayne State University $40 million to rename and build the Mike Ilitch School of Business. It's under construction just north of the arena. In her column, Mary Kramer offered a suggestion: “Maybe a focus on 'family business' at the Ilitch School of Business would help other companies learn how to navigate the delicate relationships that every family business has, regardless of size. How about an additional investment in an endowed professorship in family business in Marian Ilitch's name?”
