Corporations: Neat Feat for Nepotism

Stretched into three generations with 47 male members and scattered from Boston to Beverly Hills, the Shapiro family nevertheless manages to reunite four times a year. It is no coincidence that the councils coincide with meetings of Maryland Cup Corp., headquartered in the Baltimore suburb of Owings Mills, established 56 years ago by first generation Joseph and Nathan Shapiro. Although the firm went public six years ago, Shapiros still own 65% of the stock and dominate its board with ten of twelve family members, headed by Joseph, 79, as chairman and Nephew Arthur H., 57, as president. In what...