Thursday, May 10, 2007

Recommended reading...

I'm reading a book right now about an incredible man...Reginald Lewis. Not familiar with the name? Look him up on Google. Lewis, who died in 1993, was at one time the wealthiest black person. He beat Oprah and Robert Johnson to that title.

So who was Reginald Lewis? Lewis was an attorney and entrepreneur. He was extremely smart and confident. He refused to accept excuses and had no time for mediocrity. He demanded the best out of those who worked with and for him because he would give no less of himself.

Lewis, a native of Baltimore, reached his lofty status when he took over Beatrice Foods...

Read this Wikipedia entry. (I've checked this entry for accuracy)
Recruited to a top New York law firm immediately after law school, Lewis left to start his own firm two years later. After almost 20 years as a corporate lawyer with his own practice, Lewis moved to the other side of the table by creating TLC Group L.P., a venture capital firm, in 1983. His first major deal was the purchase of the McCall Pattern Company, a home sewing pattern business. He later sold the company at a trememdous profit for investors.
In 1987 Lewis bought Beatrice International Foods from Beatrice Companies for $985 million, renaming it TLC Beatrice International, a snack food, beverage, and grocery store conglomerate that was the largest black-owned and black-managed business in the U.S. The deal was partly financed through Mike Milken of the maverick investment bank Drexel Burnham Lambert.
When TLC Beatrice reported revenue of $1.8 billion in 1987, it became the first black-owned company to have more than $1 billion in annual sales.
At its peak in 1996, TLC Beatrice International Holdings Inc. had sales of $2.2 billion and was number 512 on Fortune magazine's list of 1,000 largest companies. He was also a member of Alpha Phi Alpha, Inc.


Reginald Lewis died of a brian tumor. You should read the book on his life which he co-wrote portions of. It is entitled: "Why should white guys have all the fun?"

Lewis was a graduate of Virginia State University and Harvard Law School.

What does this tell us? First, HBCUs have a history of putting out fantastic graduates. And, second, that life is too short; you need to make your mark TODAY. Tomorrow is not promised.

1 Comments:

Blogger Pras said...

nice find!

May 27, 2007 at 9:04 PM  

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