This has been the great paradox--very successful European equity markets surrounded by a lukewarm economic environment. It's the opposite of the U.S.

The strength in European earnings is the result of a tremendous rise in productivity. That explains why even though profits are up and stock markets are rising, unemployment is still high. European companies are not hiring, but they're growing.

Given the complexity and paradox of family business environment, how is that some firms manage to survive beyond centuries? Family businesses are under threat from both the sides, family as well as business.

We've built, drilled, and shipped indiscriminately across our oceans, with little consideration for the natural environment that is critical to the health of many of our other ocean uses, like food and recreation.

Paradox reconciles all contradictions.

Good judgement is the result of experience and experience the result of bad judgement.