Business Services Industry
Head of Former Detroit Minority Internet Firm Awaits New Opportunities.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, July, 2000 by Bodipo-Memba, Alejandro
Jul. 19--Time travels fast in the cyber economy.
When Roy Roberts and Gary Wasserman announced its arrival four months ago, M-Xchange.com seemed like a slam dunk of an idea. They created a minority-owned Internet company dedicated to empowering minority suppliers and tapping into the estimated $4.4-trillion-a-year world of e-commerce.
Their plan seemed perfect, especially for Roberts, who rose from moving parts inside a refrigerator factory to become the highest-ranking black person in the auto industry.
Then just when it looked like the Detroit business community was ready to embrace a new member, M-Xchange.com abruptly announced Monday it was going out of business.
So one of the area's more promising ventures lived and died in the...
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