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Reginald F. Lewis
Reginald F. Lewis Reginald F. Lewis


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Reginald F Lewis (December 7, 1942 – January 19, 1993), was an American businessman, who was one of the most successful business leaders during the 1980s He was the richest African American man in the 1980s Born in Baltimore, Maryland, he grew up in a middle class neighborhood He won a football scholarship to Virginia State College (now Virginia State University), graduating with a degree in economics in 1965 He graduated from Harvard Law School in 1968 He was also a member of Kappa Alpha Psi In 1992, Forbes magazine listed Lewis among the 400 richest Americans with a net worth estimated at $400 million He also was the first African American to build a billion dollar company He died at age 50, from brain cancer.

Recruited to top New York law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP immediately after law school, Lewis left to start his own firm two years later After 15 years as a corporate lawyer with his own practice, Lewis moved to the other side of the table by creating TLC Group LP, a venture capital firm, in 1983 His first major deal was the purchase of the McCall Pattern Company, a home sewing pattern business for $225 million Lewis learned from a Fortune magazine article that one of the Norton Simon companies that Esmark planned to divest was McCall Pattern Company, a maker of home sewing patterns founded in 1870 With fewer and fewer people sewing at home, McCall was seemingly on the decline—though it had posted profits of $6 million in 1983 on sales of $519 million At the time, McCall was number two in its industry, holding 29.

7 percent of the market, compared to industry leader Simplicity Patterns with 394 percent He managed to negotiate the price down and then raised $1 million dollars himself from family and friends and borrowed the rest from institutional investors and investment banking firm First Boston Corp Within one year, he turned the company around by freeing up capital tied in fixed assets such as building and machinery, finding a new use for machinery during downtime by manufacturing greeting cards, and he then started to recruit managers from rival companies He further strengthened McCall by containing costs, improving quality, beginning to export to China, and emphasizing new product introductions This new combination led to the company's most profitable year in its history With the addition of McCall real estate worth an estimated $6 million that they retained ownership of, he later sold the company at a tremendous profit for investors a 90-1 return Lewis's share was 817 percent of the $90 million In 1987 Lewis bought Beatrice International Foods from Beatrice Companies for $985 million, renaming it TLC Beatrice International, a snack food, beverage, and grocery store conglomerate that was the largest African-American owned and managed business in the U.

S The deal was partly financed through Mike Milken of the maverick investment bank Drexel Burnham Lambert In order to reduce the amount needed to finance the LBO, Lewis came up with a plan to sell off some of the division's assets simultaneous with the takeover When TLC Beatrice reported revenue of $18 billion in 1987, it became the first black-owned company to have more than $1 billion in annual sales At its peak in 1996, TLC Beatrice International Holdings Inc had sales of $22 billion and was number 512 on Fortune magazine's list of 1,000 largest companies.



 
Edmondson Westside vs Reginald F Lewis High School Football 2016
http://www.SportsMajors.com https://www.twitter.com/SportsMajors https://www.instagram.com/sportsmajors Maryland Class 1A South Playoff game between ...
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FAET vs Reginald F Lewis High School Football 2016
http://www.SportsMajors.com https://www.twitter.com/SportsMajors https://www.instagram.com/sportsmajors Maryland Class 1A Playoff opener between ...
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Social Class & Upward Mobility in Black America: The Reginald F. Lewis Story
A brief look into the life of Black America's first black billionaire, Reginald F. Lewis.
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Marquis Owens (Combo Forward) - Reginald F Lewis (2015)
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RFL Game 1 Changing The Culture
Game 1 2016 Lewis Football Lewis 20- Patterson 0.
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Reginald F. Lewis Musuem
A visit to the Reginald F. Lewis Musuem for a symposium about Baltimore tourism with Marcus G., Casey Jenkins, Lou Fields, Wanda Draper, Al Hutchinson, ...
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The Joel Gamble Foundation Baltimore Impact Community Cleanup... Reginald F. Lewis High School Foot
The Joel Gamble Foundation Baltimore Impact Community Cleanup... Reginald F. Lewis High School Football Team... Former NFL Player Joel Gamble visits ...
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Second Teacher Speaks On School Assaults
Another teacher from Reginald F. Lewis High School is telling a story of being assaulted and threatened at school. 11 News reporter Reba Hollingsworth has the ...
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Loida Lewis on marriage to Reginald Lewis
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Exhibit offers glimpse of black lives in Easton
A new exhibit at the Reginald F. Lewis Museum of Maryland African American History & Culture is hoping to bring color to many families on the Eastern Shore.
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Infamous Schools Principal Taken Off Job
Two months after a very public teacher assault at the hands of a student, the principal of Reginald F. Lewis High School in Baltimore city has been taken off the ...
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Reginald F. Lewis Pep Rally Dance-Off
girl busts her ass!!!!
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Why Choose VSU - Reginald F. Lewis College of Business
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Why should white guys have all the Fun?
I discuss the importance of black men developing an economic base and using it as a source of power. I used the title of Reginald Lewis Autobiography "Why ...
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The Obama Years: The Power of Words - Baltimore Screening
Comcast, Smithsonian Channel and the Reginald F.Lewis Museum partnered to present a private screening of 'The Obama Years: The Power of Words' film on ...
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Reginald F Lewis - A Billionaire - How Did He MOTIVATE So Many ?
This man has an amazing story and he is definitely one of my favorites. I read his book, listened to his audio story. He was full of knowledge and represents what ...
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Reginald F. Lewis Book Fair 2013
Root Branch Kid Reporters Reporting Live from the Reginald F. Lewis Museum in Baltimore, MD. Check out thier interview with Author Nikki Giovanni, Illustrator ...
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Dandy Day at the Reginald F. Lewis Museum in Baltimore
Dandy Lion: Articulating a Re(de)fined Black Masculine Identity, closes May 13, 2012 Emerging photographers and filmmakers present refreshing images of ...
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VSU Reginald F. Lewis School of Business Promo
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Root Branch Kids Cover Reginald F. Lewis Book Fair 2014
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