Agents of change.

Change. It's the catchword of the Clinton era. Indeed, the one constant of business is the challenge of change. Some companies adapt, survive and thrive. Others are born as products of the new environment, naturally equipped to compete. And still others are doomed to extinction, unable to cope with the demands of a rapidly changing world. As you examine our 21st Annual Report on Black Business, you'll find that the vast majority of the BLACK ENTERPRISE 100s--the nation's largest black-owned industrial service companies and auto dealerships--fall into the first two categories.

The age of 21 symbolizes a threshold of both bold maturity and an awareness of potential, key characteristics of those who would exploit opportunities wrought by change. In 1992, the BE 100s--as well as the commercial banks, thrifts, insurance companies and investment banks represented by the BE FINANCIALS, BE INSURANCE and the BE INVESTMENT BANKS lists--have done more than just react to change. They have become agents of change, in ways that represent the best of what strong black-owned companies have to offer to boost America's economic strength.

Strong examples of this can be found in the city of Los Angeles, which is still recovering from the civil unrest that swept through the city in the aftermath of the first trial of the police officers who brutalized motorist Rodney G. King. While most of the nation focuses on the violence and devastation that plagues much of Los Angeles' black communities, black-owned businesses were doing something to deal with the economic inequities that are the root causes of unstable communities. Threads 4 Life Corp. and Founders National Bank, our choices for BE Company of the Year and BE Financial Company of the Year, are among those businesses making real contributions toward rebuilding Los Angeles.

Threads 4 Life, a company better known by the Cross Colours label that graces its popular clothing lines, posted a nearly 500% sales increase--to an impressive $89 million--last year. But Threads 4 Life established an alliance with South Central L.A.'s Common Ground Foundation long before its debut on the BE INDUSTRIAL/SERVICE 100 last year. The foundation is dedicated to providing mentorship and job training opportunities to area youth. Not coincidentally, Threads 4 Life CEO Carl Jones was raised in South Central.

And Founders National Bank, a savings & loan institution reborn as a commercial bank, gave true meaning to the term "community bank" by providing desperately needed services in the aftermath of last year's urban uprising. While other banking institutions are withdrawing from economically distressed urban neighborhoods, Founders has increased its number of branches, customers and deposits, while moving aggressively to provide mortgage, commercial and consumer loans.

Los Angeles Mayor Tom Bradley is stepping down after more than two decades of exemplary service to the city. Under Bradley, Los Angeles emerged as one of the world's great international cities. If the next mayor is to build on Bradley's accomplishments, he must harness the economic potential of black-owned businesses like Threads 4 Life and Founders.

Our choice for BE Auto Dealer of the Year, Alan Young Buick-GMC Truck of Fort Worth, Texas, is an example of a business that made the tough choices needed to survive in a harsh economic environment. When the bottom fell out of Texas' oil-driven economy during the 1980s, Alan Young, who was lured to the area by the preceding economic boom, cut staff and expenses in order to survive. Now, thanks in part to the popularity of GMC Trucks in his market, Young's dealership has posted a 35% increase in sales.

Auto dealers like Alan Young can appreciate the fact that many of the most important changes facing the American auto industry will come from Washington, D.C. This issue's corporate profile focuses on an industrial-strength change agent: Elliott Hall, Washington vice president of Ford Motor Co. Hall, who runs the Washington office of the nation's No. 2 automaker, has been a true power player on behalf of the American auto industry. It was Hall, Ford's chief lobbyist, whose initiative helped to bring auto industry concerns to the top of the economic agenda of President Clinton.

Another well-known agent of change is Clinton's new Commerce Department Secretary Ron Brown. Senior Editor Frank McCoy conducted an exclusive one-on-one interview with the man charged by the President to be the chief advocate of American business. The Brown interview is the centerpiece of our special section: "Facing The Challenge of Change." Also included in the section is analysis of what Clinton's economic plan means for African-Americans and an investigation of how the plan might affect how BE 100s CEOs run their companies.

Last year's 20th Annual Report on Black Business was recognized by Lincoln University (Mo.) with a Unity Award for Excellence in the reporting of economics. This is the fourth consecutive year BE swept the economics reporting category and one of six Unity Awards earned by the magazine this year. While we're proud of these and other awards we've earned, we are far from satisfied. We are constantly looking for ways to improve the quality of the business information products and services we provide to our audience. One of the changes you may notice is the inclusion of our overview and list of the top black-owned investment banking firms in this year's Annual Report on Black Business. We hope that you'll find our 21st Annual Report even better than our 20th anniversary edition--and that the stories will help you to recognize that we all are agents of economic change.