Black Enterprise articles from June 2006

Black Enterprise archives from June 2006

The future of black business.(publisher's Page)
June 1, 2006... One billion dollars. Not long ago, that sum resided in a distant constellation of stellar achievements-along with leadership of multinational corporations-deemed light-years beyond the grasp of African Americans. In 1973, the year we published...

Chronicling the evolution of black business.(About This Issue)
June 1, 2006... When BLACK ENTERPRISE unveiled its first report on the state of black business back in 1973, the largest company on the list, Motown Industries, generated $40 million. In the years that followed, black business has evolved to touch virtually...

B.E.'S quiet influence.(Letters)(Letter to the editor)
June 1, 2006... I cannot begin to tell you how instrumental BLACK ENTERPRISE. has been in nurturing my growth as a young businessman and now entrepreneur. After being evicted from my apartment, I bounced around from one friend's house to another until I...

Spurred ...(Letters)(Letter to the editor)
June 1, 2006... I HAVE BEEN A SUBSCRIBER FOR ALMOST A SCORE NOW, and many issues have been useful to me for my personal and professional growth. However, the February 2006 issue was outstanding and informative, from the first feature to the Backtalk page. ...

To action.(Letters)(Letter to the editor)
June 1, 2006... I WOULD LIKE TO TAKE A MOMENT TO SAY THANK YOU. On Sunday, March 19, I was listening to my local radio station in Philadelphia (WPHI-FM 103.9 with host E. Steven Collins), and heard Tanisha Sykes, the consumer affairs editor for your magazine....

The character of success.(Letters)(Letter to the editor)
June 1, 2006... Thank you for the article regarding architecture and technology (Techwatch, March 2006). The great educator Benjamin Mays brought to our attention that it was a crime to give up and a great sin to aim low. I have known Ronald Lipford, the...

One man's trash ...(Letters)(Letter to the editor)
June 1, 2006... I JUST STARTED READING THE MAGAZINE A FEW MONTHS ago. One day I needed something to read before catching the train, so I rummaged through some thrown out papers and books in a garbage pile and found an old, issue. Now I can't do without reading...

Debt pays off.(Letters)(Letter to the editor)
June 1, 2006... I AM A FORMER SUBSCRIBER THROUGH ALPHA PHI ALPHA fraternity. I just recently re-subscribed after reading the article "In Too Deep" (March 2006). Through reading the article, I learned how to control credit card debt. Thanks for the excellent...

A legacy of investing.(Letters)(Letter to the editor)
June 1, 2006... I AM WRITING THIS E-MAIL TO SAY THANK you. While reading an issue of BE in 1990, my mother came across an article about investment clubs. The article inspired her so much that she called the entire family together to start one of our own. Out...

Oprah expands empire: media maven inks $55 million deal with XM radio.(B.E. 100s)(Oprah Winfrey )(XM Satellite Radio)
June 1, 2006... Oprah Winfrey is already the queen of multimedia, with a syndicated television show and consumer magazines in her empire. Get ready for her reign to head into the stratosphere with her newly inked three year, $55 million deal with XM Satellite...

He raised the glass ceiling: Darwin N. Davis Sr. was one of the first blacks to navigate the ranks of corporate America.(IN MEMORIAM)(In memoriam)
June 1, 2006... Darwin N. Davis Sr. broke through the glass ceiling at a time when most African Americans were prevented from ascending the upper ranks of corporate America. With his death on April 16, the black business community lost a trailblazer. Davis,...

Douglass National Bank CEO resigns: federal probe concerning housing agency may have led to departure.(B.E. 100s)(chief executive officer Lester W. Johnson)
June 1, 2006... Lester W. Johnson, head of the only African American-owned bank in the Kansas City, Missouri, metropolitan area, abruptly resigned from the top spot at Douglass National Bank. Johnson's hasty exit comes amid an intense and ongoing federal...

Roberts brothers cash in big on Alamosa deal: sale provides revenue to purchase upscale hotels across the country.(B.E. 100s)(merger between Roberts Cos. and Alamosa Holdings Inc.)
June 1, 2006... Siblings Michael Roberts Sr. and Steven Roberts Sr., owners of Roberts Cos., based in St. Louis, netted more than $100 million on the sale of their shares in Alamosa Holdings Inc. the nation's largest Sprint PCS affiliate, in February. ...

NCML expands to offer health insurance: Medicare Part D program may spell profits for new plan providers.(B.E. 100s)(Black Enterprise)(North Carolina mutual Life Insurance Company )
June 1, 2006... North Carolina mutual Life Insurance Company jumped to the fray of companies fighting for a piece of the new Medicare Part D pie, a potentially profitable opportunity given that nearly 43 million people are eligible for the program. NCML...

Nissan-Mitsubishi-Kia of Lake Charles.(Kia Motors Corp., Mitsubishi Motors Corp., Nissan Motor Company Ltd.)(Brief article)
June 1, 2006... Nissan-Mitsubishi-Kia of Lake Charles broke ground in early January on a state-of-the-art dealership in a Louisiana community that was ravaged by Hurricane Rita last year. Financial backers of the multimillion-dollar construction project...

The Amalgamated Bank.(NEWSBYTES)(Derrick Cephas is appointed)(Brief article)
June 1, 2006... The Amalgamated Bank has named Derrick Cephas president and CEO, He is the first African American to lead the company, which has more than $4 billion in assets and is the last remaining bank owned by a labor union. "We want to deal with that...

The Alvin Alley American Dance Theater.(NEWSBYTES)(donates personal essays, photos, and sketches to Library of Congress)(Brief article)
June 1, 2006... The Alvin Alley American Dance Theater has announced that the company's archives will be donated to the Library of Congress. "We're thrilled to have the Alvin Ailey archive in our collection alongside other dance luminaries," says Trish Taylor...

Clothing designer Tracy Reese.(NEWSBYTES)(new store been opened)(Brief article)
June 1, 2006... Clothing designer Tracy Reese opened a flagship boutique in New York City. The Detroit native's new store features clothing and home decor characterized by her signature "feminine chic" designs. The labels "Tracy Reese" and "Plenty by Tracy...

The Harlem Auto Mall.(NEWSBYTES)(new opening)(Brief article)
June 1, 2006... The Harlem Auto Mall, comprised of Chevrolet-Saturn and Cadillac-HUMMER dealerships, opened in March. It is the first time in more than 40 years that consumers can buy vehicles at a franchised auto dealer in Manhattan north of 72nd Street. "The...

Blacks saddled with high-interest loans: study shows disparity in subprime lending.(FACTS & FIGURES)
June 1, 2006... African Americans are more likely to receive subprime mortgage loans than Latinos and much more likely to receive them than whites. After analyzing lending data, the Association of Community Organizations for Reform Now found that 32.4% of...

Focused on the fundamentals: 20/20 Investment Club sought information before investing.
June 1, 2006... Preparation and education are essential to 20/20 Investment Club's vision for success. For the past nine years, the Los Angeles-based, all-female group has followed a "Learn & Earn" strategy--educating themselves about the stock market before...

Pole position: Cid Wilson sees auto aftermarket industry as a growth driver.
June 1, 2006... Until an indestructible car is invented, Cid Wilson, analyst and director oft at Kevin Dann & Partners, says the companies he covers will profit. Wilson tracks retailers, but his primary focus is the automotive aftermarket. Companies in this...

Positive trends, positive growth: by cherry-picking industries, SBK-Brooks' Eric Small beat the markets.
June 1, 2006... For Eric Small, investment success is about establishing a competitive edge. His philosophy of investing in companies that beat the competition with new and innovative products, services, or processes helped him pick stocks that rallied...

Help for former foster children: Jim Casey Youth Opportunities Initiative offers matching funds for down payments.(HOMEOWNERSHIP)
June 1, 2006... Establishing roots is a little easier for former foster children, thanks to a national program designed to help them become financially-fit adults. In 2001, Casey Family Programs and the Annie E. Casey Foundation launched the Jim Casey Youth...

Long-term care policies preserve wealth: advisers recommend insurance policies, special savings plans to offsets costs.
June 1, 2006... When Leandra Ollie saw her sister rack up a $33,000 bill following a two-week hospital stay, she realized how the rising cost of healthcare could wreak havoc on household finances. "My sister was in her early 20s, still in grad school, and...

Buy a home or set up a retirement plan?(managing your money)(Brief article)
June 1, 2006... Q A I am a 43-year-old married woman who has $25,000 in my savings account and $2,000 in an ING savings account that is not growing as fast as I'd like. I would like to purchase a home, but the market is overpriced and my income is only...

Open lane: Harlem entrepreneurs tap local resources to launch bowling alley.(Sharon Joseph, Gall Richards )
June 1, 2006... As Sharon Joseph and her aunt Gall Richards strolled down Harlem's famed 125th Street four-and-a-half years ago, they noticed that the business landscape lacked a few things, most notably a place where families could have fun. "Another...

Constructing a life that works: former sportscaster makes the right calls for his construction company.(MAKING IT)(Malcolm Briggs of ICR Mechanical L.L.C)
June 1, 2006... During his 15-year career, Malcolm Briggs held several high-visibility spots in broadcast media. He has been a television sportscaster, an anchor for an NBC affiliate in St. Louis, and a radio commentator for several Super Bowls. Over the...

Flower shop: Harlem-based florist offers secrets for combining creative designs and distinct flowers.
June 1, 2006... Car horns blare over the crowded stoops on the corner of 112th Street and Seventh Avenue in Harlem. In the middle of the block, Katrina Parris Flowers (www.katrinaparrisflowers.com), a high-end floral design shop, provides a quiet sanctuary...

Harnessing the deal flow: the Marathon Club promotes investment opportunities in the emerging domestic market.(demonstrating your company for good investments)
June 1, 2006... The chances of survival increase for minority-owned startups when the fledgling companies partner with private equity providers who recognize their growth potential. But how should these parties be bought together? You'll find the answer...

Starting a bakery.(Brief article)
June 1, 2006... Q I am a 19-year-old college student, and I want to open my own bakery. How do I find out what certificates I need as determined by New York state law? Where do I get guidance in this specific area of foodservice? --A. James Brooklyn,...

On a higher mission: NASA's first black flight director executes International Space Station expeditions and space shuttle flights.(Kwatsi Alibaruho)
June 1, 2006... Kwatsi Alibaruho is stationed firmly on the ground at Johnson Space Center in Houston, but his technical and leadership capabilities influence spaceships traveling more than 200 hundred miles above Earth. Alibaruho is the first African American...

Enter the middleman: alternative online payment options take the pain out of e-merchant accounts.
June 1, 2006... These days, a good online company embraces the latest technology. E-merchants have long taken advantage of the efficiency of services such as PayPal to help them turn casual surfers into shoppers. But by adding more than one online payment...

Creating connections: from restaurants to retail stores, small businesses are turning to wireless solutions.
June 1, 2006... In a bustling restaurant in downtown Taylor, South Carolina, waiters are connected via watches that allow them to communicate with their customers. In Atlanta, some Hawks fans are using specially equipped mobile phones to pay for pizza...

Home delivery: actor Morgan Freeman teams up to distribute first-run movies over the Internet.(ClickStar Inc. partners)
June 1, 2006... If Academy Award-winning actor Morgan Freeman gets his way, home viewers will enjoy premium movies delivered via the Internet this fall. Thanks to Freeman's Santa Monica, California-based digital entertainment company, ClickStar Inc., consumers...

Start the presses!(desktop publishing software)(Brief article)
June 1, 2006... Q A I am interested in starting a magazine in my city but I'm confused about which software to buy. I want to develop a quality publication for my potential readers. Any help you can offer would be great. --N. Jordan Detroit ...

The negotiator: in life and death situations, he's a lifesaver.(CAREER PROFILE)(Anthony McQueen a crisis negotiator )
June 1, 2006... Anthony McQueen had just completed 40 hours of basic training to become a crisis negotiator when he received his first suicide call--passed along by a radio DJ on the air in Pasadena, Texas. A depressed listener had called and, fearful of a...

Getting a smart start: prep program puts students in B school and in jobs.(Management Leadership for Tomorrow)
June 1, 2006... Business school seemed like the natural next step for IT consultant Marsha Anderson. She had worked as an analyst and consultant at Accenture for several years and was promoted to manager. Plus, as the daughter of a former healthcare company...

Go ahead, be a mentor.
June 1, 2006... Q A I'm a new, first-time director. I've been at my company for about a year. Recently, a young employee asked me to mentor her. I'm open to the idea and I think she has a lot of promise, but I never had a mentor, I've never mentored anyone...

Valerie Graves has recently joined Vigilante Advertising in the role of chief creative officer.(ON THE MOVE)(Brief article)
June 1, 2006... 1 Valerie Graves has recently joined Vigilante Advertising in the role of chief creative officer. In this capacity, Graves will be an integral part of the executive strategic team tackling marketing and positioning challenges. She will also...

National Credit Union Administration.(ON THE MOVE)(appointed Rodney E. Hood)(Brief article)
June 1, 2006... 2 Rodney E. Hood was recently appointed by President George W. Bush to serve as vice chairman of the National Credit Union Administration. The three-member board is the independent federal agency that charters, regulates, and insures federal...

Sony Urban Music.(ON THE MOVE)(appointed Lisa Ellis)(Brief article)
June 1, 2006... 3 Lisa Ellis has been promoted to president of Sony Urban Music, a label under Sony BMG Music Entertainment. In this capacity, she is responsible for overseeing the overall management of the label, which encompasses A&R, publicity, marketing,...

General Electric.(ON THE MOVE)(appointed Deborah Elam)(Brief article)
June 1, 2006... 4 Deborah Elam has recently been appointed vice president and chief diversity officer for General Electric. She is the first African American female officer for the organization. She most recently served as GE's manager of diversity and...

Hugh B. Price has joined The Brookings Institution, a private non-profit organization devoted to independent research and innovative policy solutions, as a senior fellow.(ON THE MOVE)(Brief article)
June 1, 2006... 5 Hugh B. Price has joined The Brookings Institution, a private non-profit organization devoted to independent research and innovative policy solutions, as a senior fellow. The former president and chief executive officer of the National Urban...

Convention calendar.(Calendar)
June 1, 2006... 100 Black Hen of America 20th Annual Conference June 7-11; Atlanta; 800-524-0500; www.100blackmen.org National Coalition of 100 Black Women 12th Annual Biennial Conference June 7-11; Houston; 212-222-5660; www.nc100bw-houston.com ...

Full-service business help: the Fitzgeralds are among many black entrepreneurs turning to an incubator to ensure their success.
June 1, 2006... IT HAS BEEN SAID THAT SMALL BUSINESSES are the engine of the American economy. But these entities need to be nurtured to grow and thrive. Designed to assist with that growth are small business incubators. These outfits are funded by government...

Future plans in real estate: Chris Butler is positioning his finances to become a property owner.(Financial BLACK Fitness ENTERPRISE Contest Winner No. 70)(Brief article)
June 1, 2006... CHRIS BUTLER'S VISION FOR HIS LIFE IS clear: to become a homeowner and landlord. Now, the 27-year-old is taking steps to turn this dream into a reality. He recently put in a bid for a duplex, which will provide him with a home and rental...

Fighting to win: 34th annual report on the nation's largest black-owned business.(B.E.100S)(Black Enterprise)
June 1, 2006... Champions. Contenders. Down For the Count. These categories best characterize the companies that constitute the BE 100S--the nation's largest black-owned businesses. One common trait they all share is a fighting spirit. These...

Champions: some companies are knocking out the competition by gaining new clients and market share.
June 1, 2006... What do all prizefighters have in common? Proficiency in the sweet science, of course. But beyond that there's heart, courage, hunger, and a desire to be the absolute best in the ring. That fortitude is a quality shared by successful CEOs...

Contenders: these companies are battling with competitors to move up the ranks and, possibly, get a title shot.
June 1, 2006... There's a fine line separating the champions from the rest of the pack. To remain on top, title holders fend off challenger after challenger--ambitious contenders working to knock reigning champs off their perches. In the business arena,...

Down for the count: in business, there are always casualties. Some will remain on the canvas while others position themselves to fight another day.(black-owned insurance companies)
June 1, 2006... For every legendary pugilist, there's a string of would-be challengers who never reach boxing greatness. In many cases, these palookas lack the strategem or killer instinct that separates mediocrity from greatness, Then there are the proud...

Industrial/service eligibility.(black owned companies ranked)(Statistical table)
June 1, 2006... A company must be at least 51% black-owned and have been fully operational for the previous calendar year (Jan. 1, 2005 through Dec. 31, 2005). Companies listed must manufacture or own the products they sell or provide industrial or consumer...

Black gold: Kase Lawal's business prowess, along with a spike in oil prices, is fueling CAMAC International's rise to the nation's second-largest black business.(Camac Holdings Inc.)(Company overview)
June 1, 2006... KASE L. LAWAL APPROACHES THE PODIUM WITH HIS USUAL serenity. He looks at the crowd of more than 200 well-wishers who traveled from all over the country--and across the globe--to pay tribute to his company, on its 20th anniversary. It's a...

Auto dealer eligibility.(B.E. 100S: AUTO DEALERS)(Table)
June 1, 2006... Auto Dealer Eligibility An auto dealership must be at least 51% black-owned and have been fully operational for the previous calendar year. TOP 10 SALES GROWTH LEADERS 2005 Company...

Command performance: spurred by a strong consumer demand for luxury cars, the Fitzpatrick Dealership Group rules the road with its foreign imports.(Company overview)
June 1, 2006... AT 8:21 A.M. ON AN OVERCAST FRIDAY, Ed Fitzpatrick is putting his black 2006 BMW M5 through its paces while driving to a breakfast meeting at his country club in Modesto, California. "You need to feel the full experience," he says, pushing a...

Advertising agencies: a sluggish economy, reduced margins, and institutional racism are delivering severe blows to black ad agencies. Industry insiders say a major shake-up is coming.
June 1, 2006... LET'S GET STRAIGHT TO THE POINT: BLACK ENTERPRISE has decided not to name an Advertising Agency of the Year. There are few companies on the BE ADVERTISING AGENCIES list that have displayed consistent growth over the past few years and, other...

Financial services eligibility.(minimum requirements required for a company to qualify as a black owned enterprise)
June 1, 2006... B.E. Banks These are commercial banks or savings and loans that are classified by the Federal Reserve as black institutions and have been fully operational for the previous calendar year. An institution's financial status is measured in...

Through the fire: now that Carver is out of the woods, Deborah Wright is out to make this community bank compete with big-city players.(Carver Federal Savings Bank)(Company overview)
June 1, 2006... DEBORAH C. WRIGHT'S OFFICE DOESN'T have a Park Avenue view. Instead, she looks down on the concrete jungle of 125th Street in the heart of Harlem. Below, the sidewalks are littered with paper and bustling with shoppers and street vendors Across...

Growth & opportunity: though new to the BE 100s, these CEOs made moves to create multimillion-dollar enterprises.(black business enterprises, chief executive officers)
June 1, 2006... Change is inevitable. That's what Tilmon F. Brown realized in 1994 as he stared early retirement in the face at age 49. As Interstate Brand Corp. launched a takeover, Brown knew his high six-figure salary as vice president of sales at...

Top Chefs: six culinary greats take the fine dining experience to the next level.(Wayne A. Johnson, Erika Davis, Marcus Samuelsson, Timothy Dean, Walter J. Royal, Jeffery Henderson)
June 1, 2006... THE ARTISTIC PRESENTATIONS ARE too mesmerizing to disturb, but the aromas of these creations tempt the palate. And indulgence brings sumptuous satisfaction. It's fine dining, elevated to entertainment. Fusing high-quality, local ingredients...

A prescription for success: finding career opportunities in the pharmaceutical industry.
June 1, 2006... LONNEL COATS BEGAN HIS CAREER as a sales rep for a beverage company in 1986. Ten years later, he switched careers and joined Eisai Inc., a healthcare products manufacturer that develops drugs for the treatment of Alzheimer's disease,...

Can young black men be saved? Our Board of Economists examines the lost potential of African American males and develops a prescription to improve their fortunes.
June 1, 2006... BEFORE DAVID MUHAMMAD graduated from elementary school, he was well on his way to becoming a statistic. Living with his divorced mother in one of the poorer sections of Oakland, California, Muhammad observed his two older brothers succumb to...

The right way to do a home inspection: you can save thousands by identifying problems before you buy.
June 1, 2006... WHEN TONY JONES AND his wife, Nikkia, bought their first home in Atlanta in 2004, they made sure to have it inspected before signing off on the deal. The home was newly constructed and they intended to live in it for years, so they wanted to...

Exit gracefully: follow these safeguards to make sure wealth is transferred to the next generation.
June 1, 2006... "ONCE YOU HAVE KIDS, YOU CAN'T BE a kid any more," says Dahari Brooks, 35, a surgeon in Worcester, Massachusetts, when asked why he and his wife, Michelle, 31, recently took steps to complete their estate plan. "We were reluctant to even think...

Women + power = success: our Women of Power Summit provided a venue for power networking, strategic advice, and spiritual rejuvenation.(Women of Power Summit hosted by State Farm)
June 1, 2006... KNOW YOUR CORPORATE DNA, REALIZE THAT RISKS ARE necessary for extraordinary achievement, always know where to secure support for your endeavors, That was advice offered by Kim Nelson, president of Snacks Unlimited Corp. and vice president of...

Still living in the past? How to overcome regret and move on with your life.
June 1, 2006... Mia Woodard, 28, of Bowie, Maryland, experienced the thrill of success when she landed an entry-level job on Capitol Hill fresh out of college. But her excitement waned 8 months later after an intern was promoted over her. "After that, I was...

The perpetual world of change: book discusses how to embrace life's constant motion.(In Life Changes: Using the Power of Change to Transform Your Life)(Book review)
June 1, 2006... Change is often difficult, even for the most resilient among us. It usually illicits fear, which then allows us to envision various scenarios that justify stagnation. Sometimes we need help to embrace new things, people, and situations. In Life...

Support for a songstress.(career in gospel music industry)(Brief article)
June 1, 2006... Q A I am a 27-year-old gospel singer who would desperate y like to become a gospel recording artist. Given the competitiveness of the music industry, I don't know where to begin. There are people around me who are in the industry, but they...

Are your frequent-flier miles friendly? With the ever-changing airline industry, your miles may not be there when you need them.
June 1, 2006... The airline industry is experiencing a little turbulence of its own. Independence Air is now defunct. Delta, Northwest, and United have filed for bankruptcy, while US Air and America West have merged in pursuit of financial stability. ...

When it rains, it pours: umbrella insurance shields individuals from the storm.(personal liability insurance )
June 1, 2006... Most people have a great deal of assets, such as a secondary home, recreational vehicles, and boats. Unfortunately, we live in litigious society. Therefore, "you need to have enough liability insurance to protect all of your assets if you...

A seaworthy credit card.(effect of late payments and delinquencies)(Brief article)
June 1, 2006... Q A I read in the February issue that late payments and delinquencies can stay on your credit report for seven to 10 years and how you can counteract a negative impact by paying your bills on time and having at least one active credit card,...

Destination information: George Davis' international readers collection.(collecting historical books)
June 1, 2006... George Davis loves to travel. But traveling is about much more than just experiencing a new destination; it's about exploring the rich histories and cultures of the places he visits. A senior vice president of Technicolor Network Services for...

Much ado about Munich: Thomas G. Jefferson is on assignment in southern Germany.(language spoken, currency and dining places in Munich)
June 1, 2006... For Thomas G. Jefferson, affectionately called T.J., Munich feels like home. Fluent in German and familiar with the social and cultural intricacies of Bavaria (the southernmost state of Germany, of which Munich is the capital), Jefferson is...

On the right footing: Samanta Shoes offers more than just a good look.(Samanta Joseph)(Company overview)
June 1, 2006... In the Guyanese household where Samanta Joseph grew up, she was expected to have a professional career. She studied and found work in computer information technology. Three years ago, however, Joseph, 29, decided to fulfill a designing passion...

World-class designs: Everick Brown's modern classics in home furnishing.(ebhome)
June 1, 2006... Increase the style quotient of your living room with Indonesian end tables or a Japanese floral design. Adding dimension with global accents is the specialty of the Mount Kisco, New York, ebhome showroom, which offers furniture, accessories,...

Bringing our best out west! Golf & Tennis Challenge.(Black Enterprise/Pepsi Golf & Tennis Challenge to be held at La Costa)
June 1, 2006... Are you looking to climb the corporate ladder, land a new business deal, or build stronger business relationships? The solution may be as simple as trading in time at the office for time on the greens. It's how the savviest executives conduct...

Back talk with Hill Harper.(Interview)
June 1, 2006... He's at the top of his game. In 2005 he garnered an NAACP Image Award nomination for Outstanding Actor in a Drama Series for his role as Dr. Sheldon Hawkes on CSI: NY, a follow-up to his 2001 nomination for Best Supporting Actor for his...