Archives
Black Banks Are Feeling the Pinch
Written on 8 Jun, 2009 at 13:58 in B.E. 100s News | viewed 2,439 times | 2 Comments
Profits at the nation's black owned banks last year plunged to a nine-year low, newly released data shows. The annual statistics illustrated a major decline as some black owned banks suffered big losses tied to securities-related investments.... (Continue reading)
Smith Graham to Increase Assets to Nearly $6 Billion in Acquisition Deal
Written on 15 May, 2009 at 17:32 in B.E. 100s News | viewed 3,355 times | 1 Comment
Smith Graham & Co. Investment Advisors L.P. (No. 8 on the BE Asset Managers list with $2.753 billion in assets under management) acquired the fixed-income and small- and mid-cap value equity assets of a New York City based firm in... (Continue reading)
World Wide Technology Settles Discrimination Suit
Written on 15 May, 2009 at 17:13 in B.E. 100s News | viewed 1,718 times | 7 Comments
When Earnest Ryals filed a $3.5 million racial discrimination lawsuit against his former employer back in November 2007, the surprising fact about the lawsuit was that he and the owner of the accused company are both African American. A... (Continue reading)
Washington D.C.’s Independence Federal to Acquire Colombo Bancshares
Written on 15 May, 2009 at 17:10 in B.E. 100s News | viewed 1,287 times | 0 Comments
Hoping to boost its profitability, Washington, D.C.-based Independence Federal Savings Bank (No. 14 on the B.E. Banks list with $150.9 million in assets) plans to acquire Colombo Bancshares Inc. of Rockville, Maryland in a stock deal valued at roughly $4.8... (Continue reading)
PRWT Services to Go Public
Written on 15 May, 2009 at 17:09 in B.E. 100s News | viewed 1,477 times | 2 Comments
PRWT Services Inc. (No. 57 on the B.E. Industrial/Service 100 list with $76 million in revenues) reported that it is planning to combine with publicly traded KBL Healthcare Acquisition Corp. III. PRWT is a diversified enterprise of pharmaceutical manufacturing and... (Continue reading)
R. Donahue Peebles: ‘We Will Land Aqueduct Deal’
Written on 15 May, 2009 at 17:07 in B.E. 100s News | viewed 2,156 times | 2 Comments
Plans for the redevelopment of a New York racetrack/casino stalled last week amid reports that Delaware North Cos., the winning bidder, couldn’t raise the $370 million necessary to get the project started. But R. Donahue Peebles, chief executive of Peebles... (Continue reading)
SENTEL Acquires Service Provider to U.S. Intelligence Agencies
Written on 15 May, 2009 at 17:00 in B.E. 100s News | viewed 755 times | 0 Comments
SENTEL (No. 90 on the 2008 BE INDUSTRIAL/SERVICE list with $45 million in revenues) acquired 24/7 Solutions last week in stock transaction for which terms weren’t disclosed. 24/7 Solutions is a McLean, VA-based supplier of specialized services and solutions to... (Continue reading)
Carver Federal Savings Bank Turns 60
Written on 27 Mar, 2009 at 17:20 in B.E. 100s News | viewed 1,919 times | 5 Comments
While many large commercial banks cling to life or become engulfed by the specter of death, Carver Federal Savings Bank is celebrating its 60th anniversary. Proving to not only have a propensity for withstanding economic turmoil, the black-owned bank has... (Continue reading)
Liberty Bank Acquires United Bank Branches
Written on 6 Feb, 2009 at 12:52 in B.E. 100s News | viewed 1,167 times | 2 Comments
After announcing its buyout this week of cross-town bank United Bank and Trust Co., Alden McDonald Jr., president of New Orleans-based Liberty Bank & Trust Co., (No. 8 on the 2008 B.E. Banks list), is prepared to buy more black-owned... (Continue reading)
Advertising Mogul Creates Scholarship to Promote Entrepreneurialism
Written on 3 Feb, 2009 at 13:00 in B.E. 100s News | viewed 1,495 times | 0 Comments
For Don Coleman, founder and chairman of GlobalHue (No. 1 on the 2008 B.E. Advertising Agencies list), the current market only solidifies the idea that self employment is the solution. To put money behind his convictions, Coleman established the Coleman... (Continue reading)
