Business Services Industry
It's a black thing. (North Carolina Mutual Life Insurance Co.)(includes related article)
Business North Carolina, July, 1994 by Gurley, Margot
North Carolina Mutual Insurance Co. found that capitalizing on racial identity cuts both ways.
In January 1990, William Kennedy III sat in his office in Mutual Plaza, Durham's 12-story monument to black enterprise, smoking Salems and musing about North Carolina Mutual Insurance Co.'s 92-year history. "The dream I have," he said, "is that N.C. Mutual will not just continue to be the leading black-managed insurance company but that we will become one of the leading insurance companies period.
"We have to be competitive in today's market," said Kennedy, who was 67 at the time and hoping to remain CEO three more years. "Before I go out, I want to see this company on a profitable basis."
That was not to be. By the end of the year, N.C. Mutual's board...
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