FIRMS RUN BY BLACKS THRIVING.Byline: John Hendren Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Sales for the nation's top African-American-owned businesses rose 11.8 percent last year, outperforming both the Fortune 500 and Forbes 500 lists, Black Enterprise magazine reports in its annual ranking. Businesses listed in the magazine's June edition, which will hit newsstands May 21, showed continued growth for the fourth straight year. Revenue for companies on Fortune's list grew only 9.9 percent, and Forbes tallied only 10 percent growth among its top 500 companies. The Black Enterprise listing reported total revenues for the 100 largest industrial and service companies and 100 auto dealerships of $13.1 billion, a nearly 12 percent increase over the $11.7 billion reported last year. That's about equal to sales for Dallas-based Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. , which ranks 89th on the Fortune 500 list. Black Enterprise Executive Editor Alfred Edmond Jr. said innovation was the key - that top African-American-owned companies have been ``striving to meet their entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. mission in ways that they may not have considered or attempted in the past.'' Revenues for top industrial and service companies ranged from $18.3 million for General Scientific Corp., an engineering company in Arlington, Va., to $2.1 billion for TLC TLC total lung capacity; thin-layer chromatography. TLC abbr. 1. thin-layer chromatography 2. Beatrice International Holdings Inc. The New York-based food processor and distributor maintained the top ranking it held last year. Beatrice sales were followed at a distance by Johnson Publishing The Johnson Publishing Company is an American publishing company owned and managed by the family of John H. Johnson. It is headquartered in Chicago, Illinois, USA. Snubbed by advertisers when he founded his company in November 1942, John H. Co. of Chicago, with $316 million in sales; Philadelphia Coca-Cola Bottling Co Inc., at $315 million; J.J. Russell & Co., an Atlanta-based construction property management and real estate company, with $173 million; and Pulsar Data Systems Inc. of Lanham, Md., at $165 million. Michigan hosts the most businesses on the list with 23, followed by Illinois (17), New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (15), Texas (15), Virginia (14), California (13), Georgia (11), Maryland (11) and Ohio (10). CAPTION(S): Chart Chart: (Color) BOOMING BLACK BUSINESSES The nation's 100 la rgest black-owned industrial/service companies and 100 top auto dealers recorded an 11.8% increase in revenues in 1995. Knight-Ridder Tribune tribune, in ancient Rome, one of various officers. The history of the office of tribune is closely associated with the struggle of the plebs against the patrician class to achieve a more equitable position in the state. From c.508 B.C. Graphic Network |
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