Family-owned company shares secret to multi-generational success: 'You come to some grim realities quickly'

Family-owned company shares secret to multi-generational success: 'You come to some grim realities quickly'

Collins Pine Co., a family-owned timber company based in Chester, California, has operated for over 80 years using an approach that keeps forests healthy for generations, reported the Plumas Sun. The secret? "Live on the interest, don't dip into the principal," says Eric O'Kelley, forest manager for Collins Pine. The company selectively removes weaker trees from its 135,000 acres, giving stronger ones room to grow. It returns to the same areas e…