Tony Packo III

Tony Packo III helped uncovering the truth as to what actually happened between the Packo family and Mr. Horvath. This presentation was not only informative in learning about his case and the media, but also to develop a deeper sense of thinking beyond what we read in the newspaper. It was interesting to understand the two sides and examine beyond the media to develop my own conclusions about this case. One of the main opinions I had that was incorrect was that Tony Packo III committed theft. The news articles made it seem so cut and dry that I thought how could he not be proven guilty, but when Tony Packo III explained his story about the loan he made to the company explained that this man would not want to steal from a company he lent money to. The other main misconception I had was the lack of transparency by the Packo family in relation to Mr. Horvath, but when told the story about the numerous meetings and explanations given to Mr. Horvath show that he was not making any effort to resolve any issues arising from Tony Packo’s. This misconception arose from the media not accurately explaining …show more content…
Developing a strong succession plan not only helps with people understanding what will happen to the company, but also helps illustrate the plan instead of having a plan that is pieced together at the last minute. Along with succession plans are the need to stay away from 50/50 ownerships. The issues that arise are difficult decision making as both partners have to agree to move forward or if one disagrees then you’re at a standstill. This makes it difficult to move the company forward if deadlocks are always occurring between the owners. Tony stated that we should have a company where there is a majority owner so that during those times someone has an overruling power and can make decisions based on the best move for the