Bold leadership for the 21st century: innovation. Vision. Guts. Today's CEOs need these qualities to lead their companies to profitability—and growth

Black Enterprise, June, 2008 by Alan Hughes

TODAY'S CEOS FACE MORE CHALLENGES than perhaps any other generation of business leaders. Not only is the U.S. economy on dubious footing, but the dollar hovers at or near all-time lows against foreign currencies. Consumer trends, shaken by ever-rising unemployment rates and staggeringly high gas prices, threaten to curtail spending--another damaging blow to a business climate already reeling from a credit crunch and a weak financial services sector.

As a result, it has become increasingly critical for CEOs to identify new business opportunities within this difficult environment. It's also critical to continue developing growth strategies to help their companies survive these downturns. While size and scale don't guarantee invulnerability (see Bear Stearns), these factors, combined with sound business practices and an evolutionary focus, make for a good start.

Good leaders realize they can't play by the same old rules. Those who fail to prepare and innovate risk going the way of the dinosaur. Companies that find opportunity and make money will be those with inventive leaders who have assembled the right teams coupled with the right resources and a shared vision.

Good leadership is illustrated throughout our coverage of the BE 100s, particularly in those identified as this year's companies of the year. Our Auto Dealer of the Year, Corley Automotive Group Inc. (No. 23 on the BE AUTO DEALER 100 list with $107 million in revenues), embraced technology and developed a digital platform that allows potential customers to build their dream cars online. It also created a diversity outreach program to help acquire and retain employees from its predominantly Navajo and Latino surroundings.

Atlanta Life Financial Group, our Financial Services Company of the Year, found that the days of selling retail insurance were over and evolved into a diversified financial services holding company, complete with two BE 100s companies under its umbrella--Atlanta Life Investment Advisors Inc. (No. 15 on the BE ASSET MANAGERS list with $1.1 billion in assets under management) and Jackson Securities L.L.C. (No. 8 on the BE INVESTMENT BANKS list with $4.8 million in senior-managed issues). Knowing the importance of a happy, productive workforce, Harpo Inc. (No. 14 on the BE INDUSTRIAL/SERVICE 100 list with $345 million in revenues), our Industrial/Service Company of the Year, instituted a tailor-made, yearlong program designed to help its management and staff with professional development.

Edward Corley, Ronald D. Brown, and Oprah Winfrey are among the bold leaders of the 21st century and the CEOs, respectively, of our companies of the year. In the ensuing pages you'll see examples of others. These intrepid CEOs are directing, refocusing, and adapting their companies not just in reaction to the challenging environment but also in anticipation of further shifting conditions down the road. Sadly, there will also be examples of black-owned businesses that, for various reasons, fell by the wayside. Because in business, it's not enough to simply keep up with the times--you have to stay ahead of them.

The Freshman Class

This Year   Company                                 Location

Private Equity Firms

    1       MacFarlane Partners                     San Francisco, CA

    3       Vista Equity Partners                   San Francisco, CA

    4       MayfieldGentry Realty Advisors L.L.C.   Detroit, MI

    5       UrbanAmerica L.P.                       New York, NY

   14       Meridian Management Group Inc.          Baltimore, MD

Asset Managers

    4       Capital Partners L.L.C.                 Chicago, IL

   14       Profit Investment Management            Silver Spring, MD

   15       Atlanta Life Investment Advisors Inc.   Atlanta, GA

Auto Dealers

   27       Wesley Chapel Toyota                    Wesley Chapel, FL

   31       Heritage Ford-Mercury Inc.              Corydon, IN

   33       Toyota of Northwest Arkansas            Rogers, AR

   34       Saturn of Central Florida Inc.          Orlando, FL

   44       Montgomery Ford Lincoln Mercury         Montgomery, AL

   45       Champion Chrysler Jeep Dodge            Indianapolis, IN

   46       Deuce McAllister Motors L.L.C.          Jackson, MS

   47       Stone Mountain Chrysler Jeep Dodge      Stone Mountain, GA

   48       Stateline Chrysler Jeep Dodge           Fort Mill, SC

   50       Malcolm Cunningham Ford Inc.            Decatur, GA

   70       Ford of Champaign                       Champaign, IL

   81       Park Dodge Chrysler Jeep                Lexington Park, MD

   85       Summerville Ford Mercury Inc.           Summerville, SC

   86       Metro Ford Lincoln Mercury              Tupelo, MS

   89       Franklin Pontiac-Buick-GMC              Franklin, TN

   91       Napa Ford Lincoln-Mercury               Napa, CA

   93       Signature Automotive Group              Benton Harbor, MI

   99       Crystal Lake Pontiac GMC                Crystal Lake, IL

Investment Banks

    9       CastleOak Securities L.P.               New York, NY

Industrial/Service Companies

   31       Full Spectrum of NY L.L.C.              New York, NY

   33       Millennium Steel of Texas L.P.          San Antonio, TX

   34       Goods Movement Inc.                     Rancho Dominguez, CA

   39       Harris & Ford L.L.C.                    Indianapolis, IN

   61       Brothers Properties Ltd.                St. Louis, MO

   69       Advanced Systems                        Arlington, VA
            Development Inc. (ASD)

   74       Miles-McClellan Construction            Columbus, OH

   74       The Neighborhood                        Washington, CD
            Development Co. L.L.C.

   77       Hightowers Petroleum Co.                Franklin, OH

   86       Unibar Maintenance Services Inc.        Ann Arbor, MI

   87       TV One                                  Silver Spring, MD

   92       The Warrior Group Inc.                  DeSoto, Tx

   94       Lewis Trucking & Grading Inc.           Lithonia, GA

   97       Legacy Building Group L.L.C.            St. Louis, MO

SOURCE: B.E. RESEARCH

B.E. Auto & Industrial/Service Employees

2003                 86,697
2004                 82,390
2005                 85,388
2006                 91,142
2007                 90,123

Note: Table made from bar graph.

B.E. Auto & Industrial/Service Sales *

2003                $21.945
2004                $23.200
2005                $26.264
2006                $27.570
2007                $28.763

* IN BILLIONS OF DOLLARS. PREPARED BY B.E. RESEARCH.

Note: Table made from bar graph.