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Larry Bailey

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Information about Larry Bailey

Profile image of Larry Bailey

Profession

Category:
BusinessMakers
Occupation(s):
Accountant

Favorites

Favorite Color:
Blue
Favorite Food:
None
Favorite Time of Year:
Fall, Spring
Favorite Vacation Spot:
Paris, France
Favorite Quote:
God's Gift To You Are The Talents He Gives To You. Your Gift To Him Is What You Do With Them.

Birthplace

Born:
9/11/1950
Birth Location:
Sanford, Florida

Profession

Category:
BusinessMakers
Occupation(s):
Accountant

Favorites

Favorite Color:
Blue
Favorite Food:
None
Favorite Time of Year:
Fall, Spring
Favorite Vacation Spot:
Paris, France
Favorite Quote:
God's Gift To You Are The Talents He Gives To You. Your Gift To Him Is What You Do With Them.

Birthplace

Born:
9/11/1950
Birth Location:
Sanford
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Biography

Accountant Larry Bailey was born on September 11, 1950 in Sanford, Florida to Richard and Inez Bailey. He graduated with his B.S. degree in accounting from Southern Illinois University at Carbondale (SIUC) in 1972. He went on to enroll at the University of Pennsylvania’s Wharton Graduate School of Business. In 1976, he graduated with his M.B.A. degree in finance. Bailey is a certified public accountant, and holds memberships with the American Institute of Certified Public Accountants and the District of Columbia Certified Public Accountants.

From 1972 to 1976, Bailey worked as an Internal Revenue Service agent, and was also a member of the Richmond (Virginia) District Speakers Bureau. When Bailey graduated from the University of Pennsylvania, KPMG Peat Marwick, LLP offered him a position at the firm. As an associate, Bailey work focused on taxes and consulting services. He offered financial advices to foreign and domestic institutions, insurance and investment agencies, energy corporations, real estate brokers, and individuals. In 1976, Bailey joined the multinational firm of PricewaterCoopers, LLP as a junior partner. In this capacity, he specialized in providing due diligence review services for the Resolution Trust Corporation and the Government National Mortgage Corporation. Bailey also provided consultation services to private and public agencies involving tax strategies and contract negotiation.

In 2000, Baily and Keven Joseph Davis negotiated a five-year, $40 million endorsement contract between tennis player Venus Williams and sports apparel company Reebok. It was the largest endorsement contract signed by a female athlete in U.S. sports history. When Williams turned professional, she did not have an endorsement deal. Her father, Richard Williams, in 1995 requested Bailey and Davis to negotiate an early deal with Reebok after several sports management agencies showed interest. Bailey also played a major role in developing the career of Serena Williams. His development efforts at PricewaterCoopers led to well over $100 million of new and recurring business for the Firm, some of which is ongoing. Bailey founded LDB Consulting, Inc. in 2002. As president, he oversees strategic financial and tax consulting services to corporations, small business and private individuals. 

Bailey’s achievements have been recognized by professional and academic institutions. In 1995, he was also inducted into the Hall of Fame of the Black Entertainment Sports Lawyers Association. Bailey was honored with the SIUC Distinguished Service Award by at the 2012 spring commencement ceremony.  He is one of the founders of SIUC’s Blacks Interested in Business (BIB), which currently provides capital to minority owned communications companies, and received the BIB Leadership Award in 2011.  The College of Business inducted him into its Hall of Fame in 1991. Bailey is also a member of the Board of Directors of Broadcast Capital Inc. Baily lives with his wife, Loleta Thomas, in Washington D.C.

Larry D. Bailey was interviewed by The HistoryMakers on September 13, 2012.

See how Larry Bailey is related to other HistoryMakers
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  • Tape: 1 Story: 1 - Slating of Larry Bailey's interview
  • Tape: 1 Story: 2 - Larry Bailey lists his favorites
  • Tape: 1 Story: 3 - Larry Bailey describes his maternal family background
  • Tape: 1 Story: 4 - Larry Bailey describes his mother's upbringing in Sanford, Florida
  • Tape: 1 Story: 5 - Larry Bailey recalls his mother's education
  • Tape: 1 Story: 6 - Larry Bailey describes his paternal family background
  • Tape: 1 Story: 7 - Larry Bailey talks about his father's service in the U.S. Navy
  • Tape: 1 Story: 8 - Larry Bailey describes how his parents met and married
  • Tape: 1 Story: 9 - Larry Bailey remembers his home life
  • Tape: 1 Story: 10 - Larry Bailey describes his earliest childhood memory
  • Tape: 1 Story: 11 - Larry Bailey describes the sights, sounds and smells of his childhood
  • Tape: 1 Story: 12 - Larry Bailey describes his neighborhood in Southeast Washington, D.C.
  • Tape: 1 Story: 13 - Larry Bailey remembers playing baseball as a child
  • Tape: 1 Story: 14 - Larry Bailey recalls his early education
  • Tape: 2 Story: 1 - Larry Bailey remembers his elementary school teachers
  • Tape: 2 Story: 2 - Larry Bailey describes his school activities
  • Tape: 2 Story: 3 - Larry Bailey recalls his early interests, pt. 1
  • Tape: 2 Story: 4 - Larry Bailey recalls his early interests, pt. 2
  • Tape: 2 Story: 5 - Larry Bailey describes his childhood personality
  • Tape: 2 Story: 6 - Larry Bailey recalls the historic events of the 1960s
  • Tape: 2 Story: 7 - Larry Bailey remembers his parents' money management skills
  • Tape: 2 Story: 8 - Larry Bailey recalls his leadership roles during high school
  • Tape: 2 Story: 9 - Larry Bailey recalls his aspiration to study business
  • Tape: 2 Story: 10 - Larry Bailey recalls his decision to attend Southern Illinois University in Carbondale, Illinois
  • Tape: 2 Story: 11 - Larry Bailey remembers changing his major to accounting
  • Tape: 2 Story: 12 - Larry Bailey reflects upon his experiences of racial discrimination
  • Tape: 2 Story: 13 - Larry Bailey remembers the campus community in Carbondale, Illinois
  • Tape: 3 Story: 1 - Larry Bailey recalls the Blacks in Business student organization
  • Tape: 3 Story: 2 - Larry Bailey talks about his political affiliation
  • Tape: 3 Story: 3 - Larry Bailey remembers his summers during college
  • Tape: 3 Story: 4 - Larry Bailey recalls joining the Internal Revenue Service
  • Tape: 3 Story: 5 - Larry Bailey describes his position in the Internal Revenue Service
  • Tape: 3 Story: 6 - Larry Bailey recalls his decision to attend the Wharton School at the University of Pennsylvania in Philadelphia, Pennsylvania
  • Tape: 3 Story: 7 - Larry Bailey recalls his influences at the Wharton School
  • Tape: 3 Story: 8 - Larry Bailey recalls his challenges at the Wharton School
  • Tape: 3 Story: 9 - Larry Bailey remembers obtaining his certified public accountant license
  • Tape: 3 Story: 10 - Larry Bailey recalls his prospects after graduating from business school
  • Tape: 3 Story: 11 - Larry Bailey recalls his position at the Peat, Marwick, and Mitchell accounting firm
  • Tape: 3 Story: 12 - Larry Bailey remembers his involvement with African American organizations
  • Tape: 4 Story: 1 - Larry Bailey remembers becoming a partner at Peat, Marwick, and Mitchell
  • Tape: 4 Story: 2 - Larry Bailey recalls his panel at the National Student Business League
  • Tape: 4 Story: 3 - Larry Bailey describes his role as a partner at Peat, Marwick, and Mitchell
  • Tape: 4 Story: 4 - Larry Bailey recalls joining Coopers and Lybrand
  • Tape: 4 Story: 5 - Larry Bailey remembers his trip to Senegal
  • Tape: 4 Story: 6 - Larry Bailey recalls overseeing the African operations for Coopers and Lybrand
  • Tape: 4 Story: 7 - Larry Bailey describes Cooper and Lybrand's presence in South Africa
  • Tape: 4 Story: 8 - Larry Bailey talks about Africare
  • Tape: 4 Story: 9 - Larry Bailey remembers his friend, Willard W. "Woody" Brittain, Jr.
  • Tape: 4 Story: 10 - Larry Bailey describes his transition to the financial planning industry
  • Tape: 4 Story: 11 - Larry Bailey talks about Venus Williams and Serena Williams
  • Tape: 5 Story: 1 - Larry Bailey talks about his clients at LBD Consulting, Inc.
  • Tape: 5 Story: 2 - Larry Bailey reflects upon the growth of technology
  • Tape: 5 Story: 3 - Larry Bailey talks about discrimination in Corporate America
  • Tape: 5 Story: 4 - Larry Bailey talks about his mentorship of young accountants
  • Tape: 5 Story: 5 - Larry Bailey talks about networking in the black business community
  • Tape: 5 Story: 6 - Larry Bailey reflects upon his life
  • Tape: 5 Story: 7 - Larry Bailey reflects upon his legacy
  • Tape: 5 Story: 8 - Larry Bailey describes his hopes and concerns for the African American community
  • Tape: 5 Story: 9 - Larry Bailey reflects upon his family
  • Tape: 5 Story: 10 - Larry Bailey describes how he would like to be remembered
  • Tape: 5 Story: 11 - Larry Bailey narrates his photographs