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Ronald Brown

Atlanta Life Financial Group President and CEO Ronald DeWayne Brown was born on August 1, 1953 in Cleveland, Ohio to Bettye Williams and Clifford Brown. He was raised in New York City by his mother and stepfather, Gifford Williams. Brown was a graduate of Morehouse College with a B.A. degree in political science and economics. He was also a graduate of the Financial Management Program at Columbia University School of Business.

Brown began his career in 1977 working with Equifax in Atlanta, Georgia where he held various managerial positions. In 1988, he began his tenure with the Dun and Bradstreet Corporation and its successor companies, becoming the President and CEO of Sales Technology. There, he developed sales force automation software for the consumer packaged goods and pharmaceutical industries and was instrumental in taking the company public. In 1998, Brown became the CEO of Strategic Technologies, a premier market research firm with operations in 90 countries. By 2000, Brown was the President of Synavant, a global leader in customer relationship management software and solutions for the pharmaceutical industry.

In 2001, Brown joined the board of directors of Atlanta Life and became the CEO and managing partner of Variant Group. Charles E. Cornelius, President of Atlanta Life Financial Group retired, and in 2004, Brown was appointed the sixth President and CEO in the 100 year history of Atlanta Life Financial. He was also the Chairman of Jackson Securities, a full service investment bank, now affiliated with Atlanta Life, founded by the late mayor of Atlanta, Maynard Jackson.

Brown served as a business mentor at Morehouse College and the Georgia 100 Mentor program. He was the 2005 recipient of the Rainbow PUSH Wall Street Project Entrepreneur of the Year Award and the Business Advisor of the Year Award. He was also a member of the 100 Black Men of Atlanta Executive Committee and the Rotary Club of Atlanta.

Brown passed away on April 28, 2008 at age 54.

Accession Number

A2007.115

Sex

Male

Interview Date

3/28/2007

Last Name

Brown

Maker Category
Middle Name

DeWayne

Schools

George Washington Carver Elementary School

P.S. 129 John H. Finley School

P.S. 139 Frederick Douglass School

J.H.S. 104 Simon Baruch

Seward Park High School

Morehouse College

First Name

Ronald

Birth City, State, Country

Cleveland

HM ID

BRO43

Favorite Season

Fall

Sponsor

AON

State

Ohio

Favorite Vacation Destination

Cabo San Lucas, New York City

Favorite Quote

The More You Sweat During Times Of Peace, The Less You Bleed During Times Of War.

Bio Photo
Speakers Bureau Region State

Georgia

Birth Date

8/1/1953

Birth Place Term
Speakers Bureau Region City

Atlanta

Country

United States

Favorite Food

Thanksgiving Dinner

Death Date

4/28/2008

Short Description

Investment chief executive Ronald Brown (1953 - 2008 ) was the President and CEO of Sales Technology for Dun and Bradstreet Corporation, served on the board of directors of Atlanta Life Financial Group, and was appointed President and CEO of Atlanta Life Financial Group.

Employment

Equifax, Inc.

First Atlanta Bank, N.A.

Sales Technologies, Inc.

Atlanta Life Financial Group, Inc.

Main Sponsor
Favorite Color

Blue

Timing Pairs
0,0:1980,30:3240,46:4770,85:5760,91:6300,101:6660,106:7740,122:15485,245:18224,302:20548,328:24183,346:24750,354:26127,372:26694,381:27990,397:28557,406:29367,420:30096,431:30663,442:32121,465:32850,481:34065,500:37143,550:38601,575:39411,588:39735,593:40302,603:41355,619:41679,624:42003,629:48138,646:48746,656:49962,681:50266,686:50798,695:52878,712:53182,717:54474,741:55690,758:56982,781:57362,787:57894,795:58654,808:59262,818:59718,825:60630,840:61390,853:63670,886:64354,898:69099,912:70177,927:70562,933:70947,939:72995,957:74045,971:76445,1021:77795,1040:78320,1049:78920,1059:79370,1067:80045,1079:80720,1089:82070,1111:82745,1122:83795,1141:89260,1154:89580,1160:89836,1165:90156,1171:95596,1269:96620,1287:100040,1299:101120,1315:101480,1320:102110,1328:102470,1333:105530,1381:109310,1441:113130,1465:113670,1477:114300,1485:115290,1527:119470,1567:120110,1578:120430,1584:120814,1592:121198,1599:121582,1607:122222,1626:122798,1638:128778,1693:130924,1745:131220,1750:132034,1763:132848,1778:133366,1787:136104,1849:136844,1864:137658,1876:138250,1886:138768,1897:139064,1902:139656,1911:140174,1920:140988,1934:146390,1950:147750,1966:149030,1987:149750,2001:151270,2027:154950,2091:155270,2096:155750,2103:156070,2108:164750,2140$0,0:1309,18:1617,26:4543,162:4928,168:5236,173:6083,186:7238,203:8855,232:9394,240:9702,245:11088,268:12397,288:12705,293:13783,306:15169,326:15631,331:17402,361:22956,374:23658,380:25686,404:26622,414:27636,429:28260,438:28884,448:30834,503:31848,523:32160,528:32862,540:34968,578:42628,634:42960,639:43541,648:44703,664:45035,669:48043,683:48367,688:49987,708:51202,726:51526,731:52498,746:52984,759:53794,770:55090,793:55414,798:57196,830:58330,844:59140,855:62137,892:63676,949:64000,954:64324,959:64648,964:68617,1077:74290,1092:74710,1100:76270,1131:77650,1167:78130,1176:78670,1187:79210,1199:79450,1204:79990,1222:80530,1233:82600,1243
DAStories

Tape: 1 Story: 1 - Slating of Ronald Brown's interview

Tape: 1 Story: 2 - Ronald Brown lists his favorites

Tape: 1 Story: 3 - Ronald Brown describes his maternal grandfather

Tape: 1 Story: 4 - Ronald Brown describes his maternal grandmother

Tape: 1 Story: 5 - Ronald Brown talks about his mother's college education

Tape: 1 Story: 6 - Ronald Brown describes his paternal grandmother

Tape: 1 Story: 7 - Ronald Brown describes his father's upbringing

Tape: 1 Story: 8 - Ronald Brown describes his father's golf career

Tape: 1 Story: 9 - Ronald Brown describes his relationship with his parents

Tape: 1 Story: 10 - Ronald Brown describes how his parents met

Tape: 1 Story: 11 - Ronald Brown remembers moving to his mother's home in New York City

Tape: 2 Story: 1 - Ronald Brown talks about his parents' move to Cleveland, Ohio

Tape: 2 Story: 2 - Ronald Brown lists his siblings

Tape: 2 Story: 3 - Ronald Brown describes his earliest childhood memory

Tape: 2 Story: 4 - Ronald Brown remembers the community of Bessemer, Alabama

Tape: 2 Story: 5 - Ronald Brown remembers George Washington Carver Elementary School in Bessemer, Alabama

Tape: 2 Story: 6 - Ronald Brown remembers living for the summer in Brooklyn, New York

Tape: 2 Story: 7 - Ronald Brown recalls his relocation to New York City

Tape: 2 Story: 8 - Ronald Brown talks about his stepfather

Tape: 2 Story: 9 - Ronald Brown describes his early education in New York City

Tape: 3 Story: 1 - Ronald Brown remembers his teacher, H.W. Brendle

Tape: 3 Story: 2 - Ronald Brown describes his extracurricular activities

Tape: 3 Story: 3 - Ronald Brown describes the sounds and smells of his childhood

Tape: 3 Story: 4 - Ronald Brown describes the sights of New York City

Tape: 3 Story: 5 - Ronald Brown remembers his mother's involvement in the Civil Rights Movement

Tape: 3 Story: 6 - Ronald Brown remembers Seward Park High School in New York City

Tape: 3 Story: 7 - Ronald Brown remembers his experiences in the Baptist church

Tape: 3 Story: 8 - Ronald Brown talks about his early understanding of racial identity

Tape: 4 Story: 1 - Ronald Brown talks about the political climate of the 1960s

Tape: 4 Story: 2 - Ronald Brown remembers his decision to attend Morehouse College in Atlanta, Georgia

Tape: 4 Story: 3 - Ronald Brown describes his experiences at Morehouse College

Tape: 4 Story: 4 - Ronald Brown remembers his influences at Morehouse College

Tape: 4 Story: 5 - Ronald Brown describes his part time work experiences

Tape: 4 Story: 6 - Ronald Brown describes his social life at Morehouse College

Tape: 4 Story: 7 - Ronald Brown describes his early career

Tape: 5 Story: 1 - Ronald Brown remembers his roles at Sales Technologies, Inc.

Tape: 5 Story: 2 - Ronald Brown recalls the expansion of Sales Technologies, Inc.

Tape: 5 Story: 3 - Ronald Brown remembers his tenure as the CEO of Sales Technologies, Inc.

Tape: 5 Story: 4 - Ronald Brown remembers the initial public offering of Sales Technologies, Inc.

Tape: 5 Story: 5 - Ronald Brown remembers his introduction to international business, pt. 1

Tape: 5 Story: 6 - Ronald Brown remembers his introduction to international business, pt. 2

Tape: 5 Story: 7 - Ronald Brown talks about his family

Tape: 5 Story: 8 - Ronald Brown recalls his career at Synavant, Inc.

Tape: 6 Story: 1 - Ronald Brown recalls joining the board of the Atlanta Life Financial Group

Tape: 6 Story: 2 - Ronald Brown describes the history of the Atlanta Life Insurance Company

Tape: 6 Story: 3 - Ronald Brown recalls his appointment as the CEO of the Atlanta Life Financial Group

Tape: 6 Story: 4 - Ronald Brown describes the Atlanta Life Financial Group's role in the community

Tape: 6 Story: 5 - Ronald Brown talks about the future of the Atlanta Life Financial Group

Tape: 6 Story: 6 - Ronald Brown talks about Jesse Hill's role in the Civil Rights Movement

Tape: 6 Story: 7 - Ronald Brown describes his commitment to minority financial education

Tape: 6 Story: 8 - Ronald Brown talks about his board memberships

Tape: 6 Story: 9 - Ronald Brown describes his hopes and concerns for the African American community

Tape: 7 Story: 1 - Ronald Brown reflects upon his life

Tape: 7 Story: 2 - Ronald Brown reflects upon his legacy

Tape: 7 Story: 3 - Ronald Brown shares a message to future generations

Tape: 7 Story: 4 - Ronald Brown narrates his photographs

DASession

1$1

DATape

1$6

DAStory

8$6

DATitle
Ronald Brown describes his father's golf career
Ronald Brown talks about Jesse Hill's role in the Civil Rights Movement
Transcript
And what did he--what was his occupation?$$My father [Clifford Brown] was one of the first blacks to ever play on the PGA Tour [Professional Golfers' Association].$$Okay. Tell me about that.$$Well, it was during a time period where you weren't making Tiger Woods money, that's for sure. A lot of the purses were significantly smaller then. He started late. He got his love for golf as a caddy there in Alabama. And naturally, after he'd finished caddying he'd stay out on the course and hit the ball a little while. And it got to a point where people saw that he could really hit a golf ball, and actually got to play with some of the, the white men that were members of the club there in Alabama, and did very well. And the rest, as they say, is, is history. But it was a tough history because of a series of things that happened, based on how difficult it was to, to fit in. Golf at the time was your quintessential white man's game. And for my father, to be able to do it and do it well, there were a lot of hardships, not the least of which was when he would go to play in a tournament, he wasn't allowed to stay in any of the hotels. So, there were times when my father would go to a tournament and have to sleep in his car and have to shave at, in the restroom of a gas station and then go out and play against Jack Nicklaus and Arnold Palmer and Lee Trevino.$$So those were some of the golfers that he played against?$$And beat, yes.$$Okay. What year are we talking about? What years?$$Early '60s [1960s].$$Early '60s [1960s], okay.$$There's a, a tremendous story that my father told me about a tournament that he was playing in, in Tennessee. And whether you're aware of this, but they, they feed all of the, the PGA. The card carrying PGA pros get to go into the clubhouse and eat, and you know, they always put on these big spreads, these extravagant meals for them. And they wouldn't allow my father in the clubhouse. And only one golfer stood up for him and said, "If you don't let him in, I won't come in either, and I'll protest this." And ironically, it was Gary Player from South Africa.$$Very interesting.$Is there anything that we have not talked about, about Atlanta Life [Atlanta Life Financial Group, Atlanta, Georgia] that you would like to, to tell us?$$Well, I think it's important to recognize that a major part of Atlanta Life's history took place during the civil rights era. And it took place during Jesse Hill's tenure when actually allowed Atlanta Life employees to leave work and go and work as deputized individuals to register people to vote in the City of Atlanta [Georgia]. And all of the progress that we've seen here in the City of Atlanta now, particularly the diversification process, a lot of that stemmed from the work that was done by Atlanta Life employees and that they were given the opportunity to do that because of the vision that, that Jesse Hill had for what this city could be and what the southeast could be. So everything from having the phones answered here from the SCLC [Southern Christian Leadership Conference] when they were trying to tap all of Dr. King's [Reverend Dr. Martin Luther King, Jr.] phones, to in this very room where we are right now, the funeral arrangements for Coretta Scott King were made with all of the King children sitting in some of the same chairs that we're sitting in right now.

E. T. Williams

E.T. Williams, CEO of Elnora, Inc., was born Edgar Thomas Williams, Jr., on October 14, 1937, in Brooklyn, New York. His father, Edgar Thomas Williams, Sr., was a real estate and insurance broker and his mother, Elnora Bing Williams Morris, was a homemaker. In the 1940s, Williams attended Elliott School in Brooklyn. During his junior year in high school, he was elected president of the student body, as well as president of the Brooklyn-Staten Island Chapter of the Junior Red Cross. He was also captain of his high school track and fencing teams. Receiving his diploma in 1955 from Eastern District High School, Williams attended Brooklyn College that same year. During college, he served as president of the Brooklyn College Chapter of the NAACP, raised money for the sit-ins in the South, and received the Rheingold Good Neighbor Award for his community service. Williams received his B.A. degree in economics from Brooklyn College in 1960. He received his real estate and insurance license in 1959 to take over his father’s business while his father recovered from an illness.

Williams joined the Experiment of International Living Program in the early 1960s and lived abroad for six months in India. Upon his return to the United States, Williams taught at P.S. 35, a junior high school in Brooklyn, New York. After teaching, he went to work for the Peace Corps as a volunteer in Ethiopia. In 1963, Williams attended the March on Washington, where he stood behind Dr. Martin Luther King, Jr. during his “I Have a Dream” speech. Williams then moved to Washington, D.C., where he continued his work with the Peace Corps for three more years. During his time at the Peace Corps, Williams took classes in business affairs at the Johns Hopkins School of International Studies.

Williams’ professional career in finance began in 1968 when he joined the Maryland National Bank as a banker. In 1969, Williams became the first African American officer of a commercial bank in the State of Maryland. He worked there until 1971 when he returned to New York City, joined Chase Manhattan and began working in institutional banking as a lending officer. Williams left banking in 1982 and returned to real estate as chairman of the board and head of the Fordham Hill Project, the largest eviction co-op conversion in the history of New York City. He retired in 1992 and began Elnora, Inc., a private family investment company. He serves on the Board of Directors of Fiduciary Trust Co. of New York and served as chair of the audit committee for eight years.

Williams is an avid African American art collector. Included in his collection are works of art by Jacob Lawrence, Romare Bearden, and Aaron Douglas. He owns the estate of Hale Woodruff and donated a sizeable portion of it to the Studio Museum in Harlem and other museums. Williams is a member of Sigma Pi Phi, Zeta Chapter of the Boulé; the Comus Club of Brooklyn; the Reveille Club of New York; the Knickerbocker Club and the University Club of the City of New York. He also sits on several museum boards, including the Brooklyn Museum and the Museum of Modern Art (MOMA). Other boards include the NAACP Legal Defense Fund; the Nature Conservancy (the Long Island Chapter); the Trinity Church Wall Street; the Central Park Conservancy; and the Cathedral Church of St. John The Divine. Williams continues to collect art in New York City, Sag Harbor, Long Island; Dark Harbor, Maine; and Naples, Florida; where he resides with his wife and family. He is married to Auldlyn Higgins Williams, and they have two grown daughters (Brooke and Eden).

For further information on E.T. Williams see index of Our Kind of People by Lawrence Otis Graham; New York Magazine cover story, “Blacks at the Top” January 19, 1987 issue and Black Enterprise Magazine cover story, “The Co-Op King,” April, 1986 issue.

Accession Number

A2006.167

Sex

Male

Interview Date

12/13/2006

Last Name

Williams

Maker Category
Schools

Eastern District High School

Elliott School

Brooklyn College

First Name

E.T.

Birth City, State, Country

New York

HM ID

WIL32

Favorite Season

Spring

State

New York

Favorite Vacation Destination

Paris, France

Favorite Quote

A Friend In Need Is A Friend Indeed.

Bio Photo
Speakers Bureau Region State

New York

Birth Date

10/14/1937

Birth Place Term
Speakers Bureau Region City

New York

Country

United States

Favorite Food

Chicken

Short Description

Investment chief executive E. T. Williams (1937 - ) was chief executive and founder of Elnora, Inc., a private family investment firm. He was the former head of the Fordham Hill Project, the largest eviction co-op conversion in the history of New York City, and was an avid collector of African American art.

Employment

Edgar T. Williams & Son

Peace Corps

Maryland National Bank

American Bankers Association

Chase Manhattan Bank

Favorite Color

Blue

Timing Pairs
0,0:4830,134:11040,267:16555,316:19114,342:26252,473:29987,526:34038,568:35118,588:46256,755:46776,761:47400,768:48128,776:52508,822:54314,839:55690,854:58098,892:59130,937:64548,1088:64892,1093:73850,1198:77570,1238:84570,1321:87790,1431:89890,1512:113820,1843:114190,1959:115522,1979:119296,2060:121960,2107:122996,2130:127362,2198:135146,2269:136642,2290:136994,2295:150822,2500:151290,2506:152304,2548:156672,2625:157218,2633:157530,2638:157842,2643:166375,2779:167402,2794:168034,2804:168429,2810:168824,2816:170799,2884:179940,3007:191140,3167:191734,3179:192427,3191:193219,3204:194209,3219:195397,3232:196783,3249:197674,3261:198862,3275:202885,3294:208960,3372$0,0:10620,178:15686,254:17380,282:19613,334:19921,339:20537,349:21461,363:39323,631:40889,654:41846,667:42455,676:46805,745:47240,751:58339,879:70072,1037:72178,1086:72724,1095:73348,1112:75298,1153:75610,1158:76000,1164:95305,1429:95905,1438:97930,1482:115076,2015:117736,2063:120700,2074:123874,2088:125612,2125:133405,2216:134260,2237:138033,2254:151112,2406:152276,2411:155685,2437:156290,2450:158949,2474:160602,2493:161037,2499:161646,2507:163212,2529:164865,2562:165387,2570:168171,2617:168693,2624:169041,2629:169389,2634:172521,2733:193220,3103:215414,3416:223133,3469:223616,3477:224030,3484:224375,3492:224858,3500:226100,3527:237930,3687:241220,3774:241850,3837:242480,3847:243110,3906:243600,3914:244370,3979:245000,4085:257382,4267:261253,4363:262912,4399:263781,4446:272785,4601:273685,4623:275710,4671:276010,4676:276760,4687:278935,4734:279235,4745:279535,4750:280060,4767:289980,4849:291440,4861
DAStories

Tape: 1 Story: 1 - Slating of E.T. Williams' interview

Tape: 1 Story: 2 - E.T. Williams lists his favorites

Tape: 1 Story: 3 - E.T. Williams describes his mother

Tape: 1 Story: 4 - E.T. Williams describes his mother's family background

Tape: 1 Story: 5 - E.T. Williams describes Yemassee, South Carolina

Tape: 1 Story: 6 - E.T. Williams describes his father's family background

Tape: 1 Story: 7 - E.T. Williams describes his father's youth

Tape: 1 Story: 8 - E.T. Williams talks about his father's career in real estate and insurance

Tape: 1 Story: 9 - E.T. Williams describes his family's upper class status

Tape: 1 Story: 10 - E.T. Williams recalls briefly operating a window cleaning business

Tape: 1 Story: 11 - E.T. Williams describes his earliest childhood memory

Tape: 1 Story: 12 - E.T. Williams describes the community of Greenwood Lake, New York

Tape: 1 Story: 13 - E.T. Williams describes his daily life as a child

Tape: 2 Story: 1 - E.T. Williams describes the elite African American society of New York City

Tape: 2 Story: 2 - E.T. Williams describes his father-in-law

Tape: 2 Story: 3 - E.T. Williams talks about his family's real estate investments

Tape: 2 Story: 4 - E.T. Williams describes the sights and smells of his childhood

Tape: 2 Story: 5 - E.T. Williams recalls his time in school

Tape: 2 Story: 6 - E.T. Williams recalls teaching upon graduating from Brooklyn College

Tape: 2 Story: 7 - E.T. Williams describes his activities at Eastern District High School

Tape: 2 Story: 8 - E.T. Williams recalls his decision to attend Brooklyn College

Tape: 2 Story: 9 - E.T. Williams describes his social life at Brooklyn College

Tape: 2 Story: 10 - E.T. Williams describes his aspirations at Brooklyn College

Tape: 2 Story: 11 - E.T. Williams recalls his experience in India

Tape: 2 Story: 12 - E.T. Williams explains his decision to teach

Tape: 3 Story: 1 - E.T. Williams describes his experiences of racial discrimination

Tape: 3 Story: 2 - E.T. Williams describes his Peace Corps service in Ethiopia

Tape: 3 Story: 3 - E.T. Williams talks about Paul Tsongas

Tape: 3 Story: 4 - E.T. Williams recalls his transition from the Peace Corps to a banking career

Tape: 3 Story: 5 - E.T. Williams recalls advocating for African Americans as a banker

Tape: 3 Story: 6 - E.T. Williams remembers attending the March on Washington

Tape: 3 Story: 7 - E.T. Williams describes his career at Chase Manhattan Bank

Tape: 3 Story: 8 - E.T. Williams considers his impact on the diversity of Chase Manhattan Bank

Tape: 3 Story: 9 - E.T. Williams recalls being asked to develop a housing cooperative at Fordham Hill

Tape: 4 Story: 1 - E.T. Williams describes his conversion of Fordham Hill in the Bronx, New York

Tape: 4 Story: 2 - E.T. Williams describes the success of the Fordham Hill housing cooperative

Tape: 4 Story: 3 - E.T. Williams talks about his properties

Tape: 4 Story: 4 - E.T. Williams describes his art collection

Tape: 4 Story: 5 - E.T. Williams remembers acquiring Hale Woodruff's estate

Tape: 4 Story: 6 - E.T. Williams talks about leading African American artists and collectors

Tape: 4 Story: 7 - E.T. Williams talks about the art he acquired abroad

Tape: 4 Story: 8 - E.T. Williams talks about the Stuyvesant Town and Peter Cooper Village Cooperative

Tape: 4 Story: 9 - E.T. Williams describes his organizational memberships

Tape: 4 Story: 10 - E.T. Williams describes the African American community of Sag Harbor, New York

Tape: 5 Story: 1 - E.T. Williams lists members of the African American community in Sag Harbor

Tape: 5 Story: 2 - E.T. Williams remembers Brooke Astor

Tape: 5 Story: 3 - E.T. Williams talks about the real estate market in New York City

Tape: 5 Story: 4 - E.T. Williams talks about his involvement in the Museum of Modern Art

Tape: 5 Story: 5 - E.T. Williams talks about the exclusion of African American art from majority museums

Tape: 5 Story: 6 - E.T. Williams talks about outsider art

Tape: 5 Story: 7 - E.T. Williams recalls being excluded from The Baltimore Sun society pages

Tape: 5 Story: 8 - E.T. Williams describes his experiences of housing discrimination

Tape: 5 Story: 9 - E.T. Williams reflects upon racial discrimination and class

Tape: 5 Story: 10 - E.T. Williams describes his involvement in social clubs

Tape: 6 Story: 1 - E.T. Williams talks about his mentor, David Rockefeller

Tape: 6 Story: 2 - E.T. Williams reflects upon his real estate legacy

Tape: 6 Story: 3 - E.T. Williams reflects upon his life

Tape: 6 Story: 4 - E.T. Williams reflects upon his legacy in the art world

Tape: 6 Story: 5 - E.T. Williams describes how he would like to be remembered

Tape: 6 Story: 6 - E.T. Williams narrates his photographs

DASession

1$1

DATape

4$4

DAStory

1$5

DATitle
E.T. Williams describes his conversion of Fordham Hill in the Bronx, New York
E.T. Williams remembers acquiring Hale Woodruff's estate
Transcript
Okay picking it up the makeup of the building (simultaneous)?$$(Simultaneous) Yeah, the makeup of the buildings were approximately 70 percent white and 30 percent black, and these were pretty substantial middle income people. When Fordham Hill [Bronx, New York] was built in the '50s [1950s] they would not rent to blacks. And we knew some very upper middle class blacks and upper class blacks who wanted to move there, and they deny them entrance. So it was ironic now here we are in 1980 a black coming along and doing a conversion of this development. Well the conversion took two years, and it was the, it was the largest tenant-sponsored eviction cooperative plan in the history of the City of New York [New York]. There were nine buildings and about twelve hundred units and at the end of the conversion I took possession of 65 percent of the units and I had no partners except my mother [Elnora Bing Williams Morris] and two sisters [Joanne Williams Carter and Thea Williams Girigorie]. And Citibank [Citibank, N.A.], which lent me most of the money we had to put up between five hundred and seven hundred and fifty thousand [dollars] and Citibank lent me 7.5 million [dollars] that I needed to buy the 65 percent. The, the complex sold for about $11 billion--entire complex at the time. The owners of the complex lived in London [England] they were worried that the South Bronx [Bronx, New York] was creeping north that there were beginning to be more robberies going on. They thought they were going to have a property that they were going to have to abandon. And so they were very happy to have somebody come along and, and buy it. A lot of the older tenants were against it even though they--it was the eviction plan and they were not affected. If you was sixty-two or over you could stay on for the rest of your life. There were a number of professors from Fordham University [New York, New York] that were younger who opposed--$$Why were they opposed?$$Because they liked renting they didn't like to be forced out at the end of their lease they had to leave.$$Or buy.$$Or buy yes, those that bought were extraordinarily happy ultimately because when we really went on the open market, we begin selling them first for twice the amount then for three times then for four times. And, you know, it just went up and up, and it was it became a very successful conversion. The newspaper all picked it up, you know, The Times [The New York Times] did a couple stories on it. The Daily News [New York Daily News] did one or two stories on it. Black Enterprise there was a cover story in Black Enterprise dealing with this conversion and I was called the co-op king. I took (simultaneous)--$$(Simultaneous) Well what--go ahead, you took?$$I took my family up there we lived there for about three years. And then my wife [Auldlyn Higgins Williams] said well, "You know, I came to New York to live in Manhattan not the in the Bronx" even though it was a lovely development. But, but our life was here in Manhattan, and so she was a trooper. And she came up with me, and we put two apartments together we had a lovely apartment, and we then moved back, moved back to the city. And I just stayed up there as the president of the board for a number of, of years. And it was during that time also that I got very active in, in some--a lot of nonprofits.$And then, of course, we bought Hale Woodruff's estate in the mid-'80s [1980s].$$How did that come about what made you buy it?$$Well again, we knew Ha-, Hale had died, and we had heard through a dealer called Larry Hilton [Lawrence Hilton] was out of New Jersey he was, he had heard that the estate was goning on the market. And that Bill Cosby was interested in buying the estate. And would I, would I have an interest I said well yes I knew Ted [Woodruff's wife, Theresa Baker] well, you know, I knew Ted and, and Hale. I knew Hale very well; I knew his, his wife is an acquaintance, and so I got in touch with her and through Larry Hilton. And she said yes she wants to sell Hale's estate she has a son, and she wanted to leave him enough money because he was an artist and, and basically wasn't doing anything else. And she want to be sure that he was comfortable in his life so, so while she was living she wanted to sell Hale's estate. So--but she wanted to sell it to somebody who would be giving, who would give a lot of it away. She didn't want someone to buy it who was going to keep it in their collection. As I understood at the time Bill Cosby wanted to buy it but he wanted--didn't want to guarantee that he was going to give any of it away at that particular time. But when she met with me obviously liked me, were all connected. And when she and Ted got married--when she and Hale got married they had a thousand people at their wedding in Topeka, Kansas. This was, you know, in the--I don't know the '20s [1920s] sometime. So anyway we got along famously well, and she said yes she would sell it. And I agreed to give paintings to the Studio Museum [Studio Museum in Harlem, New York, New York], to the Schomburg library [Schomburg Center for Research in Black Culture, New York, New York], to Spelman College [Atlanta, Georgia], to the Brooklyn Museum [New York, New York], to the Metropolitan Museum [Metropolitan Museum of Art, New York, New York] and just maybe three or four other institutions. So we gave more than half of the collection away. What I really ended up keeping aside from a number of oil paintings that would now travel in different museums, were some, some prints that he did. He did some Lino prints their linoleum cut prints he did them out of linoleum, and he would print them. And we gave--we were trying to decide what we were gonna do with these with these lino blocks. And a decision was made that we would have three hundred made three hundred copies of each of the eight prints, and they were from what he called his Atlanta period. And there were two scenes that were dealing in, in lynching and how rural blacks lived in the '30s [1930s] and '40s [1940s]. And they were very provocative and fascinating prints and so June Kelly the gallery owner Thurlow Tibbs [Thurlow Evans Tibbs Jr.] who was in Washington [D.C.] and Bob Blackburn [Robert Blackburn] who was a foremost black African, African American printmaker collaborated and said do three hundred sets. So Bob did the printing, and these are Pastrovic [ph.] sets, and so we did three hundred sets. Hale wanted--had been a teacher in Atlanta [Georgia] he started the Atlanta Biennial where, wherever they started black art shows in Atlanta in the '30s [1930s]. And he'd wanted his work as widely distribute as possible we that thought that this would be an opportunity. So when the prints were done, they were really beautifully done, and we started giving them to certain museums. And friends were buying them to give to museums in memory of their parents or, or cousins or aunts or whatever. And the museums all took them into their collection which meant that they were of museum quality. The Metropolitan, the Brooklyn Museum, the Carnegie Museum [Carnegie Museum of Art, Pittsburgh, Pennsylvania], the Baltimore Museum [Baltimore Museum of Art, Baltimore, Maryland], the Whitney Museum [Whitney Museum of American Art, New York, New York], the Cleveland Museum [Cleveland Museum of Art, Cleveland, Ohio], Agie Gund [Agnes Gund], who was president of Museum of Modern Art [New York, New York] of which I was on their board. Board accepted the Cleveland Museum 'cause her family was originally from Cleveland they took them to their collection. The Chenaults, Ken [Kenneth Chenault] and Kathy Chenault [Kathryn Chenault] bought forty sets to give all United Negro College Funds [sic. United Negro College Fund] schools. And all the school presidents wrote them back saying how wonderful they were. They're using them as teaching tools and displaying them in their libraries or in their museums if they have one. So it's, it's been a very successful program and, and I know Hale Woodruff would've been very, very proud that this, this was done.$$I was caught up in the story (laughter).$$I know it was, it was a great story.

Quintin Primo, III

Quintin E. Primo III was born March 14, 1955, in Rochester, New York. His mother, Winnifred Primo, and late father, Episcopal Bishop Quintin E. Primo, Jr., were both raised in the South, both having ancestral roots in the Caribbean. Primo attended Lincoln Elementary in Rochester, New York, Friends School in Wilmington, Delaware, and Miller Junior High School in Detroit, Michigan. At Cass Technical High School in Detroit, Primo excelled as a musician. During this time, Primo’s father was appointed Bishop of the Episcopal Church and the family moved to Chicago’s Homewood-Flossmoor area where Primo graduated from Homewood-Flossmoor High School in 1973. He then attended Indiana University, where he earned a B.S. degree in finance and graduated with honors. In 1977, he enrolled in Harvard Business School, receiving his M.B.A. in 1979.

That same year, Primo started his career at Citicorps Real Estate, where he specialized in real estate lending. In 1988, he fulfilled a lifelong dream and opened his own investment banking business, Quintin Primo and Company. After several years, the company folded and Primo teamed up with friend and colleague Daryl Carter in 1992 to form CAPRI Capital Management. Today, CAPRI manages seven billion dollars in assets.

Primo serves on the board of the Chicago Sinfonetta, the Chicago Community Trust, the Federal Reserve Bank of Chicago Advisory Board, University of Chicago Hospitals, the Real Estate Council and the Primo Women and Children Center. He lives in the Chicago area with his wife, Diane, and their children, Francesca and Quintin IV. Primo is writing a book about his father in the Episcopal Church entitled The Making of a Black Bishop.

Accession Number

A2004.001

Sex

Male

Interview Date

1/12/2004

Last Name

Primo

Maker Category
Marital Status

Married

Organizations
Schools

Homewood-Flossmoor High School

Lincoln Elementary School

Miller Junior High School

Cass Technical High School

Wilmington Friends School

First Name

Quintin

Birth City, State, Country

Rochester

HM ID

PRI02

Favorite Season

Summer

Sponsor

Nadja Pappillon

State

New York

Favorite Vacation Destination

Southern California

Favorite Quote

None

Bio Photo
Speakers Bureau Region State

Illinois

Birth Date

3/14/1955

Birth Place Term
Speakers Bureau Region City

Chicago

Country

United States

Favorite Food

Pasta

Short Description

Investment chief executive Quintin Primo, III (1955 - ) was the founder of CAPRI Capital.

Employment

Citicorp Real Estate

Quintin Primo & Company

Capri Capital Management

Main Sponsor
Favorite Color

Black

Timing Pairs
0,0:1554,12:2373,24:13202,204:18389,273:19117,282:19481,287:20755,308:24213,364:24850,373:25487,386:26124,395:35130,423:39595,510:41590,549:44440,613:49285,706:51565,748:72933,1004:73281,1009:78675,1096:79458,1110:82242,1156:83112,1168:96336,1359:106752,1422:112580,1512:114742,1557:119102,1576:119418,1581:119734,1591:121314,1640:128424,1740:143829,2045:161026,2226:164129,2257:174936,2376:180286,2426:199819,2642:201601,2667:230690,3007$0,0:29200,216:29744,221:46860,367:50220,386:85715,693:86552,704:87296,714:100316,1014:120628,1168:122790,1200:123166,1205:125986,1250:133788,1409:134164,1414:145350,1573:165930,1793:166250,1798:169210,1855:176010,1949:176330,1954:183370,2177:184010,2187:185450,2215:185930,2222:194080,2259:196840,2286
DAStories

Tape: 1 Story: 1 - Slating of Quintin Primo, III's interview

Tape: 1 Story: 2 - Quintin Primo, III lists his favorites

Tape: 1 Story: 3 - Quintin Primo, III describes his mother's family background

Tape: 1 Story: 4 - Quintin Primo, III describes his mother's personality, work and schooling

Tape: 1 Story: 5 - Quintin Primo, III talks about his father's family background

Tape: 1 Story: 6 - Quintin Primo, III talks about his father's Episcopal priesthood, pt. 1

Tape: 1 Story: 7 - Quintin Primo, III talks about his father's Episcopal priesthood, pt. 2

Tape: 1 Story: 8 - Quintin Primo, III talks about his father's involvement in the Union of Black Episcopalians

Tape: 1 Story: 9 - Quintin Primo, III describes how his parents met

Tape: 1 Story: 10 - Quintin Primo, III describes how he takes after his parents

Tape: 2 Story: 1 - Quintin E. Primo, III describes the sights, sounds and smells of growing up in Rochester, New York

Tape: 2 Story: 2 - Quintin E. Primo, III talks about parish mergers in Rochester, New York, Detroit, Michigan and Wilmington, Delaware

Tape: 2 Story: 3 - Quintin E. Primo, III talks about growing up in Rochester, New York, pt. 1

Tape: 2 Story: 4 - Quintin E. Primo, III talks about growing up in Rochester, New York, pt. 2

Tape: 2 Story: 5 - Quintin E. Primo, III talks about his childhood personality, pt. 1

Tape: 2 Story: 6 - Quintin E. Primo, III describes his childhood personality, pt. 2

Tape: 2 Story: 7 - Quintin E. Primo, III talks about the schools he attended in New York, Delaware, Michigan and Illinois

Tape: 2 Story: 8 - Quintin E. Primo, III describes influential music teachers he had in Wilmington, Delaware and Detroit, Michigan

Tape: 2 Story: 9 - Quintin E. Primo, III talks about his music training opportunities before applying to college

Tape: 3 Story: 1 - Quintin Primo III describes his musical interests, pt. 1

Tape: 3 Story: 2 - Quintin Primo III describes the impact of his father's consecration as an Episcopal bishop in Chicago, Illinois

Tape: 3 Story: 3 - Quintin Primo III describes his transition to Homewood-Floosmoor High School in Homewood, Illinois

Tape: 3 Story: 4 - Quintin Primo III describes his musical interests, pt. 2

Tape: 3 Story: 5 - Quintin Primo III explains how his interests switched from music to finance, pt. 1

Tape: 3 Story: 6 - Quintin Primo III explains how his interests switched from music to finance, pt. 2

Tape: 3 Story: 7 - Quintin Primo III describes his experiences at Indiana University in Bloomington, Indiana

Tape: 3 Story: 8 - Quintin Primo III describes his thesis at Indiana University in Bloomington, Indiana

Tape: 3 Story: 9 - Quintin Primo III describes his activities at Indiana University in Bloomington, Indiana

Tape: 3 Story: 10 - Quintin Primo III recalls attending Harvard Business School in Boston, Massachusetts, pt. 1

Tape: 4 Story: 1 - Quintin Primo, III talks about lessons he learned while attending Harvard Business School in Boston, Massachusetts

Tape: 4 Story: 2 - Quintin Primo, III describes his relationship to Dr. James Cash at Harvard Business School in Boston, Massachusetts

Tape: 4 Story: 3 - Quintin Primo, III talks about attending Harvard Business School in Boston, Massachusetts, pt. 2

Tape: 4 Story: 4 - Quintin Primo, III reflects upon the absence of education in business school related to the pension fund industry

Tape: 4 Story: 5 - Quintin Primo, III talks about the exclusion of African Americans from asset management and capital investment

Tape: 4 Story: 6 - Quintin Primo, III describes the exclusionary process for entering the capital investment industry

Tape: 4 Story: 7 - Quintin Primo, III talks about working for Citicorp following his graduation from Harvard Business School in 1979

Tape: 5 Story: 1 - Quintin Primo, III talks about the business of real estate investment

Tape: 5 Story: 2 - Quintin Primo, III talks about opportunities for real estate development and investment in urban areas

Tape: 5 Story: 3 - Quintin Primo, III talks about the demolition of high-rise public housing projects in Chicago, Illinois, pt. 1

Tape: 5 Story: 4 - Quintin Primo, III talks about the demolition of high-rise public housing projects in Chicago, Illinois, pt. 2

Tape: 5 Story: 5 - Quintin Primo, III talks about real estate development and investment opportunities for minority communities in Chicago, Illinois

Tape: 5 Story: 6 - Quintin Primo, III describes the types of real estate investments in which his company engages

Tape: 5 Story: 7 - Quintin Primo, III talks about redevelopment programs and opportunities in Chicago, Illinois

Tape: 5 Story: 8 - Quintin Primo, III talks about his career trajectory following his work for Citicorp in the late 1980s

Tape: 6 Story: 1 - Quintin Primo, III talks about losing Marshall Bennett's investment money and going out of business in the early 1990s, pt. 1

Tape: 6 Story: 2 - Quintin Primo, III talks about losing Marshall Bennett's investment money and going out of business in the early 1990s, pt. 2

Tape: 6 Story: 3 - Quintin Primo, III describes the formation of Capri Capital in the late 1990s

Tape: 6 Story: 4 - Quintin Primo, III describes his relationship with his business partner, Daryl Carter, and their management styles, pt. 1

Tape: 6 Story: 5 - Quintin Primo, III describes his relationship with his business partner, Daryl Carter, and their management styles, pt. 2

Tape: 6 Story: 6 - Quintin Primo, III shares advice for African Americans interested in real estate investment

Tape: 6 Story: 7 - Quintin Primo, III talks about the motivation for on-site, business training programs in the 1970s and 1980s

Tape: 6 Story: 8 - Quintin Primo, III describes his civic activity in Chicago, Illinois, pt. 1

Tape: 6 Story: 9 - Quintin Primo, III describes his civic activity in Chicago, Illinois, pt. 2

Tape: 7 Story: 1 - Quintin Primo, III describes his hopes and concerns for the African American community

Tape: 7 Story: 2 - Quintin Primo, III reflects upon his legacy

Tape: 7 Story: 3 - Quintin Primo, III describes how he would like to be remembered

DASession

1$1

DATape

4$6

DAStory

6$8

DATitle
Quintin Primo, III describes the exclusionary process for entering the capital investment industry
Quintin Primo, III describes his civic activity in Chicago, Illinois, pt. 1
Transcript
Inheritance plays a big part in all this. Inheritance and who you know--(simultaneous)$$(Simultaneous) Not only financial, but cultural and you know inheritance. I mean its--the ability it's--access to information and opportunity on an unleveled playing field. That you uniquely will have because of your family, friends, etc. That unfortunately--and not only that you have but you will not share outside of your--your acceptable group that you know we know, we know [HM] Quintin [Primo, III] because he's part of our--he's part of our accepted groups and therefore we're gonna let him in. We like him. And this if I were white. And we like him, we want him in our--we want--we want him--I want him working next to me. You know, I knew his father. I knew his grandfather you know and so forth and so on. And the real estate industry has heretofore for many years been a private industry. Only until recently in the last effectively, the last ten years or so has it been a publicly--a publicly held industry. Traded on the New York Stock Exchange or NASDAQ [Stock Market]. And with-- trading on an exchange comes transparency, you know. Comes regulation, comes oversight. But when you're private, you're primarily largely a private industry you can do things privately. So you can bring your nephew, your cousin, your daughter, your son into a business and you own the company. Do what you want. Okay. A publicly traded--publicly held real estate investment trust, you can certainly bring your cousin or your daughter or your son into the business, but it's much more of a meritocracy. And there--there better be a very, very good reason why they should succeed you as--as chairman or chairwoman. And so--or be a senior partner because of the view this nepotism that's not--that's viewed unfavorably in corporate America and it's viewed unfavorably in publicly traded real estate investment vehicles. So, real estate as the industry has changed significantly over the years. But its--and these are--these are, pension fund industry-- these are examples of industries that are huge. The real estate industry, commercial real estate--the institution of commercial real estate industry is between 3 and $4 trillion of market value. Yet there are maybe, possibly, 200 black professionals maybe working--$$Mm-hmm.$$--in the industry. Those numbers make no sense. Okay. Pension fund and let's try maybe 1 percent or less of what is now 6 to $8 trillion of capital. In fact these days I think there are more like $10 trillion--when you add up all the 401ks and everything else, more like 10 trillion dollars of capital. Maybe 1 percent, maybe 1 percent is managed by a minority-owned firm. So, you know, things are changing but there's still, there great discrepancies, there's great inequalities, and in my firm here we are the largest minority-owned real estate investment firm in the country.$$Okay.$$But that ain't saying much 'cause there are very few of us out there doing this.$Tell me about your civic activity and some of the--I know--you're involved in several initiatives and boards, you know, to improve the community.$$My community and charitable involvement, next to God, my family, and this business [Capri Capital Partners Llc, Chicago, Illinois] they represent the most important thing that I do. My community activities represent my ministry. In this city and in this country. I am a not a minister. I don't wanna be a minister. But the--the code of ethics, the--the constant assisting of the poor and those in need, the sick and the ailing, that I saw in my parents, obviously had a dramatic impact on me. So I am chairman of something called the Primo Center for Women and Children [Chicago, Illinois] which is named after my father [Quintin E. Primo, Jr.]. It's--it's a women's transitional shelter for first stage homeless. It sits in the middle of the battle field out there in West Garfield Park [Chicago, Illinois] on Washington [Boulevard, Chicago, Illinois], West Washington. And it's twenty-two beds. It's my passion. We've gone so far as to have over for Christmas the family and others that are in the shelter. They are the most needy and the most disenfranchised and the most difficult. And therefore they get most of my time. I'm involved in the--a member of the executive community of the Chicago Community Trust [Chicago, Illinois]. Which has a long tradition of investing in black and Hispanic areas across the city in the south and west sides. They're basically a philanthropic organization. You know I'm certainly on the art scene. I--remember I'm--I'm a musician. I love music I've been--I--sat on the board of Ravinia Festival Association [Highland Park, Illinois] and very much have been very interested in their inner city programs. I--I was a cofounder of Chicago Sinfonietta. Which is a multicultural, multiethnic symphony orchestra founded here by Maestro Paul Freeman many years ago. I serve on the board of University of Chicago Hospitals [University of Chicago Medical Center, Chicago, Illinois] which is on the South Side [Chicago, Illinois]. And the reason I serve on that board is so that people of color that are poor can get health care. Which, that emergency room is full of on any given night.

Herbert P. Wilkins, Sr.

While other investors cursed the dot-com bust in the late 1990s, business executive Herb Wilkins amassed a fortune. Born to Katherine and William Wilkins in Boston on January 9, 1942, Wilkins has accumulated his riches by tapping into minority businesses in the communication industry as managing general partner of Syncom Capital Corporation.

Wilkins attended public school in his hometown of Boston. After receiving his bachelor's degree from Boston University in 1965, Wilkins graduated from the Harvard School of Business in 1970 and began a long, successful career in finance and management consulting. Wilkins operated his own consulting company, Wilkins & Company, from 1975 to 1977, before taking over as president of Syndicated Communications in Washington, D.C. He served in that capacity through 1989 before taking posts as managing general partner of Syncom Capital and president of Syncom Management Company.

With Syncom, Wilkins developed a profitable strategy of investing in communications companies that targeted inner-city neighborhoods. The corporation's long-term investment in Radio One, a black company that was the fastest-growing radio broadcasting company in 2000, paid tremendous dividends when the corporate stock went public in 1999. Syncom's assets reached $150 million and Wilkins' net worth topped the $75 million mark. Wilkins also served as director of BET Holdings, the parent company of Black Entertainment Television.

In addition to his business positions, Wilkins has served on the boards of several companies and organizations geared toward minority broadcasting and communication. He worked as director of the National Association of Minorities in Cable TV and also was head of Chicago Cable Television. For his efforts to support rising minority communication companies, Wilkins has received several honors and awards and was named to the FCC's Advance Committee on Minority Ownership in 1984. Wilkins is married to Sheran R. Wlikins and has three children.

Herbert Wilkins, Sr. passed away on December 3, 2013.

Accession Number

A2003.158

Sex

Male

Interview Date

7/17/2003 |and| 7/31/2007

Last Name

Wilkins

Maker Category
Marital Status

Married

Organizations
Schools

Central State University

Boston Technical High School

Boston University

Harvard Business School

Search Occupation Category
First Name

Sheran

Birth City, State, Country

Boston

HM ID

WIL03

Favorite Season

Summer

Sponsor

Herb and Sheran Wilkins Media Makers

State

Massachusetts

Favorite Vacation Destination

Charleston, South Carolina

Favorite Quote

None

Bio Photo
Speakers Bureau Region State

District of Columbia

Birth Date

1/9/1942

Birth Place Term
Speakers Bureau Region City

Washington

Country

United States

Favorite Food

Chicken

Death Date

12/3/2013

Short Description

Investment chief executive Herbert P. Wilkins, Sr. (1942 - 2013 ) was the managing general partner of Syncom Capital Corporation and president of Syncom Management Company. He was also known for his investments in Black Entertainment Television, Radio One and communications companies that reach the inner city.

Employment

Wilkins & Company

Syndicated Communications

Urban National Corporation

General Electric

Lucas, Tucker, & Co.

Main Sponsor
Favorite Color

None

Timing Pairs
264,0:30894,401:33344,446:38408,506:42152,562:42632,568:46280,628:53716,687:57940,750:58644,767:66560,839:67856,858:69260,873:75364,908:77144,961:77856,974:78212,979:83070,1007:87648,1082:104700,1207:105048,1212:106005,1227:107658,1251:108180,1258:109311,1269:109746,1275:115240,1311:115520,1316:116290,1328:116850,1338:117270,1345:117550,1350:117830,1355:121176,1390:123672,1445:124296,1454:125934,1480:126324,1486:127962,1519:128586,1528:142218,1685:142648,1691:145142,1737:145572,1743:151846,1790:153700,1812:160056,1882:162381,1911:166194,1992:171496,2039:174774,2077:177060,2093:179571,2135:180222,2150:180780,2158:188760,2244$0,0:4018,48:4704,57:9822,87:11067,109:11814,119:12395,127:19138,190:20674,244:27612,345:29498,388:38820,512:39212,517:45227,598:50266,635:50594,664:64267,879:84932,1147:95971,1246:99842,1315:113890,1445:115380,1451
DAStories

Tape: 1 Story: 1 - Slating of Herbert P. Wilkins, Sr.'s interview

Tape: 1 Story: 2 - Herbert P. Wilkins, Sr. lists his favorites

Tape: 1 Story: 3 - Herbert P. Wilkins, Sr. talks about his maternal grandmother and the summer camp she ran in New Hampshire

Tape: 1 Story: 4 - Herbert P. Wilkins, Sr. talks about his mother

Tape: 1 Story: 5 - Herbert P. Wilkins, Sr. talks about his father

Tape: 1 Story: 6 - Herbert P. Wilkins, Sr. talks about having an enlarged heart as a child

Tape: 1 Story: 7 - Herbert P. Wilkins, Sr. describes the sights, sounds and smells of growing up and moving to the Mission Hill projects in Boston, Massachusetts

Tape: 1 Story: 8 - Herbert P. Wilkins, Sr. talks about getting beat up and the gang wars in the Mission Hill projects in Boston, Massachusetts

Tape: 1 Story: 9 - Herbert P. Wilkins, Sr. talks about the local black gang, the Emperors, from the South End neighborhood of Boston, Massachusetts

Tape: 1 Story: 10 - Herbert P. Wilkins, Sr. talks about his favorite teachers in grade school

Tape: 1 Story: 11 - Herbert P. Wilkins, Sr. talks about his experience at Boston Technical High School in Boston, Massachusetts

Tape: 2 Story: 1 - Herbert P. Wilkins, Sr. talks about working as a machinist after graduating from Boston Technical High School

Tape: 2 Story: 2 - Herbert P. Wilkins, Sr. talks his experience at Central State University in Wilberforce, Ohio

Tape: 2 Story: 3 - Herbert P. Wilkins, Sr. talks about returning to Boston, Massachusetts and graduating from Boston University

Tape: 2 Story: 4 - Herbert P. Wilkins, Sr. describes his interview for Harvard Business School in Boston, Massachusetts

Tape: 2 Story: 5 - Herbert P. Wilkins, Sr. talks about the rigor and intensity of Harvard Business School in Boston, Massachusetts

Tape: 2 Story: 6 - Herbert P. Wilkins, Sr. talks about graduating from Harvard Business School in Boston, Massachusetts

Tape: 2 Story: 7 - Herbert P. Wilkins, Sr. talks about entering the venture capital sphere

Tape: 2 Story: 8 - Herbert P. Wilkins, Sr. talks about the black middle-class' aversion to financial risk

Tape: 2 Story: 9 - Herbert P. Wilkins, Sr. describes the type of people he wants to finance

Tape: 2 Story: 10 - Herbert P. Wilkins, Sr. gives an example of a successful and an unsuccessful businessperson he worked with during his career

Tape: 3 Story: 1 - Herbert P. Wilkins, Sr. describes Syncom's investment strategy and the firm's return on investment

Tape: 3 Story: 2 - Herbert P. Wilkins, Sr. lists some of Syncom's successful ventures and describes Syncom's largest investment, Iridium Satellite

Tape: 3 Story: 3 - Herbert P. Wilkins, Sr. details the amount of money he made on his best investment

Tape: 3 Story: 4 - Herbert P. Wilkins, Sr. talks about the process of making money, when to exit a deal, and shares his advice for young people entering the venture capital sphere

Tape: 3 Story: 5 - Herbert P. Wilkins, Sr. talks about his hopes and concerns for the African American community

Tape: 3 Story: 6 - Herbert P. Wilkins, Sr. reflects upon his legacy

Tape: 3 Story: 7 - Herbert P. Wilkins, Sr. describes how he would like to be remembered

Tape: 3 Story: 8 - Herbert P. Wilkins, Sr. talks about changes in Federal Communications Commission regulations and Motorola's failed Iridium Satellite business

Tape: 4 Story: 1 - Slating of Herbert P. Wilkins, Sr.'s interview, session two

Tape: 4 Story: 2 - Herbert P. Wilkins, Sr. reconsiders his favorites

Tape: 4 Story: 3 - Herbert P. Wilkins, Sr. describes his mother's values

Tape: 4 Story: 4 - Herbert P. Wilkins, Sr. lists his siblings, pt. 1

Tape: 4 Story: 5 - Herbert P. Wilkins, Sr. lists his siblings, pt. 2

Tape: 4 Story: 6 - Herbert P. Wilkins, Sr. describes the sights, sounds and smells of growing up

Tape: 4 Story: 7 - Herbert P. Wilkins, Sr. talks about working at a hotel in Boston, Massachusetts during high school

Tape: 4 Story: 8 - Herbert P. Wilkins, Sr. talks about moving to the Mission Hills projects and working as a jump boy on a news truck

Tape: 4 Story: 9 - Herbert P. Wilkins, Sr. talks about learning to be a master painter from his father

Tape: 4 Story: 10 - Herbert P. Wilkins, Sr. states that he never attended the camp his grandmother ran

Tape: 4 Story: 11 - Herbert P. Wilkins, Sr. describes his earliest memories of his grade school years

Tape: 5 Story: 1 - Herbert P. Wilkins, Sr. talks about his activities and his academic interests at Boston Technical High School in Boston, Massachusetts

Tape: 5 Story: 2 - Herbert P. Wilkins, Sr. talks about the death of his best friend in high school

Tape: 5 Story: 3 - Herbert P. Wilkins, Sr. talks about his experience at Central State University in Wilberforce, Ohio

Tape: 5 Story: 4 - Herbert P. Wilkins, Sr. talks about pledging Kappa Alpha Psi Fraternity in Boston, Massachusetts

Tape: 5 Story: 5 - Herbert P. Wilkins, Sr. lists the jobs he held between graduating from college in 1965 and entering business school in 1968

Tape: 5 Story: 6 - Herbert P. Wilkins, Sr. describes his experience at Harvard Business School in Boston, Massachusetts

Tape: 5 Story: 7 - Herbert P. Wilkins, Sr. talks about entering the venture capital sphere and joining Urban National Corporation

Tape: 5 Story: 8 - Herbert P. Wilkins, Sr. describes the type of deals and investments that he worked on at Urban National Corporation

Tape: 6 Story: 1 - Herbert P. Wilkins, Sr. describes the differences between his investment strategy and Urban National Corporation's investment strategy

Tape: 6 Story: 2 - Herbert P. Wilkins, Sr. talks about working for Lucas, Tucker & Company and operating his own consulting firm, Wilkins & Company

Tape: 6 Story: 3 - Herbert P. Wilkins, Sr. explains how he was recruited to manage Syncom, a venture capital firm investing in minority telecommunication businesses

Tape: 6 Story: 4 - Herbert P. Wilkins, Sr. talks about Syncom's initial investment strategy for FM radio stations

Tape: 6 Story: 5 - Herbert P. Wilkins, Sr. talks about the process of licensing FM and AM radio stations

Tape: 6 Story: 6 - Herbert P. Wilkins, Sr. talks about some of Syncom's early FM radio station deals

Tape: 6 Story: 7 - Herbert P. Wilkins, Sr. talks about an unsuccessful investment in a radio station in Phoenix, Arizona

Tape: 6 Story: 8 - Herbert P. Wilkins, Sr. talks about financing HistoryMakers Cathy Hughes' purchase of WOL-AM in 1980 and WMMJ-FM in 1987

Tape: 7 Story: 1 - Herbert P. Wilkins, Sr. talks about advising HistoryMaker Cathy Hughes and the business savvy of HistoryMaker Alfred Liggins

Tape: 7 Story: 2 - Herbert P. Wilkins, Sr. talks about Radio One's initial public offering in 1999

Tape: 7 Story: 3 - Herbert P. Wilkins, Sr. talks about Jimmy Miller and Syncom's investment in Miller's radio station in Oklahoma City, Oklahoma

Tape: 7 Story: 4 - Herbert P. Wilkins, Sr. talks about African American-owned cable franchises in 1980s

Tape: 7 Story: 5 - Herbert P. Wilkins, Sr. talks about Syncom's successful investment in a cable company in Chicago, Illinois

Tape: 7 Story: 6 - Herbert P. Wilkins, Sr. talks about the politics involved in cable franchises and winning the franchise for a cable system in Washington, D.C.

Tape: 7 Story: 7 - Herbert P. Wilkins, Sr. talks about the HistoryMaker Terry Jones and Duane McKnight, who form the core management team of Syncom

Tape: 7 Story: 8 - Herbert P. Wilkins, Sr. considers Syncom's success focusing its investment in the telecommunications industry

Tape: 8 Story: 1 - Herbert P. Wilkins, Sr. talks about the formation of NAMIC and differing philosophies between minority cable entrepreneurs

Tape: 8 Story: 2 - Herbert P. Wilkins, Sr. talks about Robert L. Johnson's idea for BET, Black Entertainment Television

Tape: 8 Story: 3 - Herbert P. Wilkins, Sr. talks about HistoryMaker Pluria Marshall, Sr.

Tape: 8 Story: 4 - Herbert P. Wilkins, Sr. talks about other minority venture capital firms, known as MESBICs, Minority Enterprise Small Business Investment Companies

Tape: 8 Story: 5 - Herbert P. Wilkins, Sr. describes how he raised money for Syncom and formed Syndicated Communications Partners

Tape: 8 Story: 6 - Herbert P. Wilkins, Sr. talks about investing in Buenavision Telecommunications

Tape: 8 Story: 7 - Herbert P. Wilkins, Sr. recalls one of Robert L. "Bob" Johnson's meetings with J.C. Sparkman

Tape: 8 Story: 8 - Herbert P. Wilkins, Sr. talks about his investment in the unsuccessful magazine Emerge

Tape: 8 Story: 9 - Herbert P. Wilkins, Sr. mentions John C. Malone and Peter R. Barton

Tape: 9 Story: 1 - Herbert P. Wilkins, Sr. talks about a cable system deal he mismanaged

Tape: 9 Story: 2 - Herbert P. Wilkins, Sr. describes how Syncom financed World Space, which became XM Satellite Radio

Tape: 9 Story: 3 - Herbert P. Wilkins, Sr. talks about investing in Iridium Satellite phones

Tape: 9 Story: 4 - Herbert P. Wilkins, Sr. talks about his profitable investment in Private Networks

Tape: 9 Story: 5 - Herbert P. Wilkins, Sr. talks about the areas of growth in radio and cable and where the telecommunications industry is going next

Tape: 9 Story: 6 - Herbert P. Wilkins, Sr. reflects upon Syncom's role in growing the minority communications sector

Tape: 9 Story: 7 - Herbert P. Wilkins, Sr. talks about arranging capital to finance Iridium and fighting with the Small Business Administration

Tape: 10 Story: 1 - Herbert P. Wilkins, Sr. talks about getting the last investor for his fund, Syncom II

Tape: 10 Story: 2 - Herbert P. Wilkins, Sr. talks about Minority Enterprise Small Business Investment Companies (MESBICs) and the Small Business Administration, pt. 1

Tape: 10 Story: 3 - Herbert P. Wilkins, Sr. talks about Minority Enterprise Small Business Investment Companies (MESBICs) and the Small Business Administration pt. 2

Tape: 10 Story: 4 - Herbert P. Wilkins, Sr. explains his decision to retire

Tape: 10 Story: 5 - Herbert P. Wilkins, Sr. reflects upon his legacy

Tape: 10 Story: 6 - Herbert P. Wilkins, Sr. describes his hopes and concerns for the African American community

Tape: 10 Story: 7 - Herbert P. Wilkins, Sr. talks about his hopes for his family

DASession

1$2

DATape

2$10

DAStory

7$1

DATitle
Herbert P. Wilkins, Sr. talks about entering the venture capital sphere
Herbert P. Wilkins, Sr. talks about getting the last investor for his fund, Syncom II
Transcript
When you graduated [from Harvard Business School, Boston, Massachusetts] what did you do? What were your prospects?$$Well, when I graduated, I decided that I wanted to go into venture capital. I had worked with two other guys, Dan [Daniel] Denison -- Dennis and Tyrone Dickerson to set up a venture capital fund. And in the summer of '68 [1968], we worked on that fund with Charlie Cabot who was a lawyer at Sullivan and Worcester law firm in Boston [Massachusetts], and one of the Cabots. And Charlie really had a feeling that venture capital was a way for black people to move from where they were into the main stream of business. And so he was very supportive. But that effort just didn't -- it didn't make it. We just didn't have any big money -- moneyed person working with us to help us over the hump. And there was another group that started that summer, a white group, that was working with Morgan Guaranty [Trust] and Morgan Stanley to do the same thing. They actually got funding, Urban National [Corporation, Boston, Massachusetts]. And that's where I started work in 1973 at Urban National in the venture capital business. So I'm glad that they were successful, although they had no idea what they were doing. And they didn't really understand black people and black entrepreneurship. It's interesting because I always felt that culturally, there was a difference between the way white people pursue the development of business opportunities and the way black people pursue the development of business opportunities. And if you didn't understand that, you could end up in a wrong place. U.N.C. or Urban National wanted to finance what they thought were the right people for business development, middle-class black people, who I felt didn't have the chutzpah to make it. I felt that people who came out of the project and who had gone through the wars, fighting their way, were the right kind of people to finance. These are the guys who are going to make it in society. And the other guys would fall by the wayside. I turned out to be right, I really believe, based upon the success Syncom has had and based upon the lack of success that Urban National has had. I think that really is the proof in the pudding.$Fund two, Syncom II.$$Now, what year was this?$$This was back in 1992. We were having problems with all the investors because they wanted to cut our fees. And I remember being at Teachers Insurance [and Annuity Association of America] in New York [New York]. And they came in, and they said, "We're in, but you have to cut your fees." And I said, "If I have to cut my fees, you can't come in." I said, "I'm not cutting my fees." They said, "Well, you have to." I said, "No." I said, "I'm doing it at the same price that the other guys do. And it won't, it won't be for less. It'll be the same thing." And I said, "If that's your position, and you won't change it," I said, "We'll leave." And [HM] Terry [Jones] looked at me. He was stunned. He couldn't believe I was gonna walk out, and I was, I was read-- and I stood up, and they said, "Okay, okay, okay, you can keep the fees at the level that you propose." And I said, "Oh, okay," and we concluded the investment. And they were the smallest investor in the fund.$$And they were gonna tip the scale and benefit of everyone else except you?$$Oh, yeah.$$Okay. Were they the ones that were gonna close the loop? Were they the last entity in?$$They were the last ones.$$Okay, so that was it, and then you would have your deal closed?$$Um-hum.$$Any other stories like that, Herb [HM Herbert P. Wilkins, Sr.]?$$No, not really.$$You got me all excited (laughter). That was a good story.

Mellody Hobson

President of Ariel Investments, one of the largest African American-operated capital management firms in the world, Mellody Hobson was born April 3, 1969, in Chicago. Hobson is the youngest of six children, who range from nine to twenty-five years older than her. After graduating from St. Ignatius College Preparatory in 1987, Hobson attended Princeton University, where she received a B.A. from the Woodrow Wilson School of International Relations in 1991.

While in college, Hobson interned at Ariel Capital Management and T. Rowe Price Associates, both investment firms. Upon graduation, she took a position with Ariel, overseeing client service and taking part in strategic planning. In 1994, Ariel broke off from its parent company, the Calvert Group, and assets dropped by $100 million. Since then, however, things have been up for Hobson and Ariel. Hobson has risen to become president of Ariel, and the firm now manages $10 billion in assets.

Hobson is regularly featured on Good Morning America and can be found on the ABC News Web site as a regular contributor. She also makes regular appearances on CNN and WGN-TV's Minority Business Report. Unbroke:What You Need to Know About Money, the first television show created and hosted by Hobson aired on May 29, 2009. She serves on the board of directors of the Chicago Public Education Fund, the Chicago Public Library and the Field Museum, among many other civic organizations. Hobson also serves on the Board of Trustees of her alma mater, Princeton, and on the Board of Directors of Tellabs, Inc. Ebony named her one of the 30 Leaders of the Future and Crain's Chicago Business has listed her as one of its annual 40 Under 40. At the 2001 World Economic Forum in Davos, Switzerland, Hobson was named a Global Leader of Tomorrow.

Accession Number

A2003.177

Sex

Female

Interview Date

8/5/2003 |and| 2/10/2004 |and| 6/28/2004

Last Name

Hobson

Maker Category
Organizations
Schools

Princeton University

St. Ignatius College Prep

Speakers Bureau

No

First Name

Mellody

Birth City, State, Country

Chicago

HM ID

HOB01

Favorite Season

Summer

Sponsor

Carol Mackoff

State

Illinois

Favorite Vacation Destination

Italy

Favorite Quote

Kill And Drive On.

Bio Photo
Speakers Bureau Region State

Illinois

Birth Date

4/3/1969

Birth Place Term
Speakers Bureau Region City

Chicago

Country

United States

Favorite Food

Spinach

Short Description

Investment chief executive Mellody Hobson (1969 - ) was the president of Ariel Investments. She was a financial contributor to Good Morning America, and the creator and host of the television special Unbroke: What You Need to Know About Money.

Employment

Florida State University

Ariel Capital Management Company

Main Sponsor
Favorite Color

Orange

Timing Pairs
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DAStories

Tape: 1 Story: 1 - Slating of Mellody Hobson's interview

Tape: 1 Story: 2 - Mellody Hobson lists her favorites

Tape: 1 Story: 3 - Mellody Hobson talks about her mother's family

Tape: 1 Story: 4 - Mellody Hobson talks about her father

Tape: 1 Story: 5 - Mellody Hobson recalls her earliest memory of her grandfather's funeral

Tape: 1 Story: 6 - Mellody Hobson explains how her mother got involved in real estate

Tape: 1 Story: 7 - Mellody Hobson lists her siblings

Tape: 1 Story: 8 - Mellody Hobson describes her relationship with her older siblings and nieces

Tape: 1 Story: 9 - Mellody Hobson describes her experience at William B. Ogden Elementary School in Chicago, Illinois

Tape: 1 Story: 10 - Mellody Hobson talks about encountering racism as a child

Tape: 1 Story: 11 - Mellody Hobson describes the neighborhood she grew up in Chicago, Illinois' Gold Coast neighborhood

Tape: 1 Story: 12 - Mellody Hobson describes her childhood personality

Tape: 1 Story: 13 - Mellody Hobson explains her mother's influence

Tape: 1 Story: 14 - Mellody Hobson talks about learning from her siblings' lives and reading biographies

Tape: 2 Story: 1 - Mellody Hobson describes the sights, sounds, and smells of growing up in Chicago, Illinois

Tape: 2 Story: 2 - Mellody Hobson recalls transformative early educational experiences

Tape: 2 Story: 3 - Mellody Hobson talks about going to work with her mother

Tape: 2 Story: 4 - Mellody Hobson recalls her teachers at William B. Ogden Elementary School in Chicago, Illinois

Tape: 2 Story: 5 - Mellody Hobson recounts her experience winning a district-wide school speech contest in sixth grade

Tape: 2 Story: 6 - Mellody Hobson talks about her early experiences in radio and television

Tape: 2 Story: 7 - Mellody Hobson explains how she decided to attend Saint Ignatius College Prep high school in Chicago, Illinois

Tape: 2 Story: 8 - Mellody Hobson describes her experience at Saint Ignatius College Prep in Chicago, Illinois

Tape: 2 Story: 9 - Mellody Hobson remembers her Kairos retreat during her time at Saint Ignatius College Prep in Chicago, Illinois

Tape: 2 Story: 10 - Mellody Hobson reflects on her education at Saint Ignatius College Prep in Chicago, Illinois

Tape: 3 Story: 1 - Mellody Hobson recalls her early interest in news and world events

Tape: 3 Story: 2 - Mellody Hobson describes the approach to controversial issues at Saint Ignatius College Prep in Chicago, Illinois

Tape: 3 Story: 3 - Mellody Hobson remembers Harold Washington's election and death

Tape: 3 Story: 4 - Mellody Hobson explains how she decided to attend Princeton University in New Jersey, pt. 1

Tape: 3 Story: 5 - Mellody Hobson explains how she decided to attend Princeton University in New Jersey, pt. 2

Tape: 3 Story: 6 - Mellody Hobson recalls her first impressions at Princeton University in New Jersey

Tape: 3 Story: 7 - Mellody Hobson recounts overcoming an early academic challenge at Princeton University in New Jersey

Tape: 3 Story: 8 - Mellody Hobson remembers meeting Nelson Mandela on a college trip to South Africa

Tape: 4 Story: 1 - Slating of Mellody Hobson's interview, session two

Tape: 4 Story: 2 - Mellody Hobson describes her how her perspective changed after visiting South Africa in 1991

Tape: 4 Story: 3 - Mellody Hobson recalls her internship at Ariel Capital Management in 1989

Tape: 4 Story: 4 - Mellody Hobson recounts the early years of Ariel Capital Management

Tape: 4 Story: 5 - Mellody Hobson talks about interning at T. Rowe Price Associates

Tape: 4 Story: 6 - Mellody Hobson explains how her studies led to working in the investment management business

Tape: 4 Story: 7 - Mellody Hobson details the work involved with Marketing and Client Services for Ariel Capital Management

Tape: 4 Story: 8 - Mellody Hobson remembers meeting Richard "Dick" Parsons

Tape: 4 Story: 9 - Mellody Hobson recalls disappointing business meetings

Tape: 4 Story: 10 - Mellody Hobson talks about the challenges that Ariel Capital Management faced in the 1990s

Tape: 4 Story: 11 - Mellody Hobson talks about her career focus and the support she received from HistoryMaker John Rogers, Jr.

Tape: 5 Story: 1 - Mellody Hobson talks about the support she's received from others

Tape: 5 Story: 2 - Mellody Hobson details her career progression at Ariel Capital Management

Tape: 5 Story: 3 - Mellody Hobson describes the challenges Ariel Capital Management faced when it separated from the Calvert Group, Ltd.

Tape: 5 Story: 4 - Mellody Hobson talks about Ariel Capital Management's contrarian strategy

Tape: 5 Story: 5 - Mellody Hobson elaborates on the decision to split from the Calvert Group, Ltd.

Tape: 5 Story: 6 - Mellody Hobson shares the lessons she learned from Ariel Capital Management's partnership with the Calvert Group Ltd.

Tape: 5 Story: 7 - Mellody Hobson reflects upon lessons she learned during challenging times at Ariel Capital Management, pt. 1

Tape: 5 Story: 8 - Mellody Hobson discusses the competition that faced Ariel Capital Management during its early years

Tape: 5 Story: 9 - Mellody Hobson recalls Ariel Capital Management winning key accounts in 1997

Tape: 5 Story: 10 - Mellody Hobson talks about her promotion to senior vice president within Ariel Capital Management

Tape: 6 Story: 1 - Slating of Mellody Hobson's interview, session three

Tape: 6 Story: 2 - Mellody Hobson explains how Ariel Capital Management emerged from the difficult period of the mid-1990s

Tape: 6 Story: 3 - Mellody Hobson lists key people and their roles within Ariel Capital Management

Tape: 6 Story: 4 - Mellody Hobson explains the origin of Ariel Capital Management's turtle mascot

Tape: 6 Story: 5 - Mellody Hobson explains the philosophy that Ariel Capital Management's mascot represents

Tape: 6 Story: 6 - Mellody Hobson talks about her strengths and approach to work

Tape: 6 Story: 7 - Mellody Hobson reflects upon lessons she learned during challenging times

Tape: 6 Story: 8 - Mellody Hobson talks about Ariel Capital Management's steadfastness in the face of radical economic changes

Tape: 7 Story: 1 - Mellody Hobson lists the writers who influenced Ariel Capital Management's philosophy

Tape: 7 Story: 2 - Mellody Hobson talks about Ariel Capital Management's selection of clients

Tape: 7 Story: 3 - Mellody Hobson explains how Ariel Capital Management evaluates its prospective investments

Tape: 7 Story: 4 - Mellody Hobson explains the work involved in portfolio management

Tape: 7 Story: 5 - Mellody Hobson explains the difference between value investing and growth investing

Tape: 7 Story: 6 - Mellody Hobson talks about her ability to communicate complex concepts

Tape: 7 Story: 7 - Mellody Hobson reflects on how writing and research developed her skill set

Tape: 7 Story: 8 - Mellody Hobson recalls an ad featuring Ariel Capital Management's diversity

Tape: 7 Story: 9 - Mellody Hobson discusses the response to Ariel Capital Management's ad featuring its diversity

Tape: 7 Story: 10 - Mellody Hobson talks about Ariel Capital Management's sponsorship campaigns

Tape: 7 Story: 11 - Mellody Hobson talks about creating an investment market for the African American community

Tape: 8 Story: 1 - Mellody Hobson details her duties as the unofficial "chief-of-staff" at Ariel Capital Management

Tape: 8 Story: 2 - Mellody Hobson reflects on lessons she learned about effective management

Tape: 8 Story: 3 - Mellody Hobson remembers campaigning for former senator Bill Bradley

Tape: 8 Story: 4 - Mellody Hobson reflects on the lessons learned from political campaigning

Tape: 8 Story: 5 - Mellody Hobson lists the dates for the Hoopla events

Tape: 8 Story: 6 - Mellody Hobson recalls joining MBR: Minority Business Report

Tape: 8 Story: 7 - Mellody Hobson shares her disappointment about former Senator Bill Bradley losing the presidential nomination

Tape: 8 Story: 8 - Mellody Hobson talks about how she joined 'Good Morning America'

Tape: 8 Story: 9 - Mellody Hobson shares the lessons she learned from Diane Sawyer

Tape: 9 Story: 1 - Mellody Hobson explains how she became president of Ariel Capital Management

Tape: 9 Story: 2 - Mellody Hobson talks about the changes that occurred when she became president of Ariel Capital Management

Tape: 9 Story: 3 - Mellody Hobson discusses her plans for Ariel Capital Management

Tape: 9 Story: 4 - Mellody Hobson describes the challenges that come with the pursuit of success

Tape: 9 Story: 5 - Mellody Hobson describes how she would like to be remembered

Tape: 9 Story: 6 - Mellody Hobson describes how she believes others will perceive her life

DASession

1$2

DATape

1$5

DAStory

10$9

DATitle
Mellody Hobson talks about encountering racism as a child
Mellody Hobson recalls Ariel Capital Management winning key accounts in 1997
Transcript
Do you remember an incident where you felt that you were mistreated you know like that with, you know at birthday parties or kids' homes?$$You know in my--I think in the beginning you're--you know kids are just kids and I don't remember anything being inappropriate because my mother [Dorothy Brown] sometimes would just not let me go. And I would be like, no they're the nicest people. You know I'd be begging, tears streaming down my face, that sort of thing. But she was just always very cautious. But then also I do remember as I got older, sort of seventh, eighth grade, there being issues. I remember one friend, who was a very close friend, telling me that her parents didn't want her playing with me anymore because I was black. And I couldn't like--in Chicago you know metropolitan city you know people were really smart. I couldn't even believe that this would be the perspective of parents, you know it just seemed to me to be really, really goofy. So that is something that I do remember from that time. But they never said anything to me. They didn't mistreat me, anything like that. And then I remember when we were little I told you we sort of just would just run around. And there'd be places where we would go like if we were in Water Tower Place [Chicago, Illinois] you know where you could just kind of tell people were sort of either watching you funny or treating you funny. And it always was--I was very attuned to it and I always pay attention to my environment. And I remember once being in Lord & Taylor and I was just walking through the store and to cut through to go somewhere else. And I must have been like ten or eleven years old and I was with one of my nieces and I saw someone shoplifting. And I remember going up to the sales person, I said that person just shoplifted. And I remember my mother, I went home and I was so proud of myself and she was insane. She's like don't ever do anything like that again because she was worried the person would see that I turned them in and do something to me, you know things like that. And I remember the woman who I told she was just sort of like taken aback that this little black kid was coming up to her telling her something like that. So you know yes you know part of life in being a black person in America is knowing that everything doesn't always go perfectly and people have stereotypes or a point of view that does not reflect reality.$So you come out of this period about 1997 you said 19--$$Yeah, exactly.$$--okay, 1997. And what is the key thing that took you out? Were there, was it--do you remember the account that you got or--?$$I remember two things.$$Okay.$$If I say overall what got us through it, we did not change our investment strategy. The worst thing you can do is then change your investment strategy during a period of poor performance. Managers who become weathervanes just get whipsawed so we just stuck with our conviction and that worked beautifully for us because all the stocks that had been the ones that had done so well ended up suffering a really tough period and our quality wonderful consistent businesses were the ones everyone knew you could count on. Smuckers Jelly is not going away but how many dot-coms did, right? So that was number one. The other thing that helped us get through it is our team stayed in tact. We had no turnover. Our senior people stuck it out. All of our people stuck it out. We were all owners of our business and we were vested. We had a vested interest in the success of the entire enterprise. So when people saw this team is just there. They're not going anywhere. They're not going to better offers or anything like that. That really proved a lot to our customers. Account specifically that I remember, I remember when we got hired by United Airlines sort of at 1995, during the middle of the difficult period. And I remember [HM] John [Rogers, Jr.] and I went and pitched United, their head of pensions, Dave Dykstra at the time. And I remember he had called with some follow up questions. And he said--oh I remember in the meeting he said you know "I'm looking at these numbers and I'm wondering why should I hire you?" And I said to him and John was even kind of surprised. He looked at me kind of crazy. And I said "if I could jump over this table and grab you by the lapels and pull you towards me and convince you why we will be successful I would. But I know that's not appropriate." And he was like stunned. I said we're going down with the ship. I said "we are not giving up on this business," and they hired us. And it was, you know the--we ended up being one of their best performing managers because they did what we do, they bought a manager when it was out of favor just like we buy stocks when they're out of favor. Buy low, sell high. You know it's a platitude but very hard to practice in theory. I mean very hard to--in theory it's easy to understand, very hard in practice. I also remember us getting hired by Chevron Texaco which at the time was just Texaco. And it was the same sort of thing where they called us back after John and I made the presentation in White Plains, New York and they were asking me all these questions. They were like why should we hire you? And I just, again I was so strong in telling them why we were going to be--I said no firm is going to work harder for you. No firm is going to want this business as much as we want it. No firm is going to be as diligent as we are going to be. No firm is going to be as responsive to you. We are the firm you--that should work for you and we convinced them. And those two just stand out in my mind at the time. And then clients started to come and then when we started to get clients we'd have special lunches to celebrate getting hired. I remember we got hired by ComEd [Commonwealth Edison], we had a "light" lunch and I remember we got hired by--we used to have these themes around all the clients that hired us. They were hysterical but they were great and we--just celebrating those little victories started to help us a lot. And I also remember one other thing during that period, unlike some of our competition who would say we--our minimum account size is $10 million, we would say we'll take any amount. We're going to show you what we can do and we're going to be confident you're going to give us more. And that has always remained our policy at Ariel [Capital Management, later Ariel Investments, Chicago, Illinois].

Howard Brown, Jr.

Financier and civil servant Howard Brown, Jr., was born in Eutaw, Alabama, on September 4, 1945, but at an early age he moved with his family to Atlanta. His mother, Bertha, was a teacher, and his father, Howard Brown, Sr., was a bulldozing contractor. After earning his early and high school education in Atlanta, he remained in town, attending Morehouse College and earning his B.A. in 1970. From there he went on to attend the University of Connecticut School of Law, graduating in 1973.

After finishing law school, Brown went to work for the Hartford Insurance Group, rising to associate counsel before he left in 1978. From 1978 to 1981, Brown served as the chief operations officer of O'Sullivan Fuel Oil, where he presided over the expansion of the business. Brown moved into the public sector in 1982, taking a position with the Connecticut Department of Banking, where he headed the legal staff, and by 1985 he was the banking commissioner. While in this role, he became chairman of the National Federal Legislation Committee of the Conference of State Bank Supervisors and was called upon to testify before various committees of the federal government. Brown returned to the private sector in 1992, as the vice president of public finance for Kidder, Peabody & Co. in New York. In 1995, Brown co-founded Greystone Community Reinvestment Associates and is currently the company's chairman and CEO. Greystone structures affordable housing mortgages that are backed by investment securities.

Brown is a founding member of the Connecticut Chapter of the National Association of Securities Professionals and has served on the board of directors of the University of Connecticut School of Law Foundation, the Metropolitan YMCA, the Mark Twain House and the Connecticut Advisory Board to BankBoston Development Company. He is listed in Who's Who in Government Service and has received the Achievement Award as Outstanding Role Model in the Hartford Community. Brown and his wife, Elizabeth, reside in Connecticut.

Accession Number

A2003.184

Sex

Male

Interview Date

8/13/2003

Last Name

Brown

Maker Category
Marital Status

Married

Middle Name

B.

Schools

University of Connecticut - Hartford

Morehouse College

Henry McNeal Turner High School

First Name

Howard

Birth City, State, Country

Eutaw

HM ID

BRO14

Favorite Season

Fall

State

Alabama

Favorite Vacation Destination

Martha's Vineyard, Massachusetts

Favorite Quote

What You See Is What You Get

Bio Photo
Speakers Bureau Region State

Georgia

Birth Date

9/4/1945

Birth Place Term
Speakers Bureau Region City

Atlanta

Country

United States

Favorite Food

Seafood

Short Description

Investment chief executive Howard Brown, Jr. (1945 - ) is the cofounder, chairman and CEO of Greystone Community Reinvestment Associates and is the former deputy banking commissioner for the Connecticut Department of Banking.

Employment

Hartford Insurance Group

O'Sullivan Fuel Oil

Connecticut Department of Banking

Kidder, Peabody & Co.

Greystone Community Reinvestment Associates

Favorite Color

Blue

Timing Pairs
0,0:2711,4:6191,54:21054,236:46852,472:54740,520:60670,584:62540,638:79000,776:79765,792:80105,798:89200,945:89625,951:90050,957:104834,1037:109078,1085:109702,1121:135868,1428:146455,1484:146795,1489:154390,1555:174500,1780$0,0:27587,265:28973,278:44820,476:51392,558:53618,583:56420,590:58520,618:58940,671:61880,703:76748,869:77213,875:78701,902:83351,977:93000,1044:93693,1054:104396,1240:104704,1245:105243,1253:106090,1266:130018,1455:130362,1460:130706,1469:131394,1478:144490,1621:152814,1701:153158,1709:155566,1750:199750,2137:201358,2150:213068,2214:217110,2265:227068,2354:229920,2389:231024,2406:231576,2413:248814,2617:249348,2624:250861,2643:257720,2696
DAStories

Tape: 1 Story: 1 - Slating of Howard Brown Jr.'s interview

Tape: 1 Story: 2 - Howard Brown Jr. lists his favorites

Tape: 1 Story: 3 - Howard Brown Jr. describes his mother's family background

Tape: 1 Story: 4 - Howard Brown Jr. describes his father's family background

Tape: 1 Story: 5 - Howard Brown Jr. describes Eutaw, Alabama, the town where he grew up

Tape: 1 Story: 6 - Howard Brown Jr. describes his earliest childhood memory

Tape: 1 Story: 7 - Howard Brown Jr. remembers the sights, smells, and sounds of his childhood in Eutaw, Alabama

Tape: 1 Story: 8 - Howard Brown Jr. talks about the street he grew up on and celebrating holidays with his family

Tape: 1 Story: 9 - Howard Brown Jr. describes his childhood personality and nickname

Tape: 1 Story: 10 - Howard Brown Jr. talks about attending Eutaw Elementary School and the teachers who influenced him

Tape: 2 Story: 1 - Howard Brown Jr. talks about being sent to live with relatives in Atlanta, Georgia for high school

Tape: 2 Story: 2 - Howard Brown Jr. reflects on how living in Atlanta, Georgia differed from Eutaw, Alabama and the effect on him

Tape: 2 Story: 3 - Howard Brown Jr. describes his experience in Atlanta, Georgia during the early 1960s

Tape: 2 Story: 4 - Howard Brown Jr. talks about his experience attending Henry McNeal Turner High School in Atlanta, Georgia

Tape: 3 Story: 1 - Howard Brown Jr. remembers being in the band at Henry McNeal Turner High School

Tape: 3 Story: 2 - Howard Brown Jr. remembers recruiting parties for the Student Non-Violent Coordinating Committee [SNCC] in Atlanta, Georgia in 1960

Tape: 3 Story: 3 - Howard Brown Jr. describes his role models growing up and the activities he was involved in at Henry McNeal Turner High School

Tape: 3 Story: 4 - Howard Brown Jr. talks about his decision to attend Morehouse College in Atlanta, Georgia

Tape: 3 Story: 5 - Howard Brown Jr. remembers Morehouse College's Dr. Benjamin E. Mays and Dr. Brailsford Reese Brazil

Tape: 3 Story: 6 - Howard Brown Jr. talks about his experience attending Morehouse College in Atlanta, Georgia

Tape: 3 Story: 7 - Howard Brown Jr. recalls how he became a lawyer and his experience in the United States Air Force

Tape: 3 Story: 8 - Howard Brown Jr. describes meeting his wife, Elizabeth Brown, and his decision to attend the University Of Connecticut School Of Law

Tape: 3 Story: 9 - Howard Brown Jr. talks about moving to Hartford, Connecticut to attend the University of Connecticut School of Law

Tape: 3 Story: 10 - Howard Brown Jr. remembers the professors who influenced him at the University of Connecticut School of Law and his first job at The Hartford Insurance Group

Tape: 4 Story: 1 - Howard Brown Jr. talks about working at The Hartford Insurance Group

Tape: 4 Story: 2 - Howard Brown Jr. talks about being amongst the first wave of African Americans in corporate law

Tape: 4 Story: 3 - Howard Brown Jr. describes his decision to leave The Hartford Insurance Group

Tape: 4 Story: 4 - Howard Brown Jr. talks about his position as chief operations officer and counsel for O'Sullivan Fuel Oil, Inc., pt. 1

Tape: 4 Story: 5 - Howard Brown Jr. talks about his position as chief operations officer and counsel for O'Sullivan Fuel Oil, Inc., pt. 2

Tape: 4 Story: 6 - Howard Brown Jr. discusses the political powers in Hartford, Connecticut in the early 1980s

Tape: 4 Story: 7 - Howard Brown Jr. describes the relationship between Hartford, Connecticut and its surrounding suburbs as well as the racial make-up of the city

Tape: 4 Story: 8 - Howard Brown Jr. describes how he became deputy banking commissioner of the Connecticut Department of Banking

Tape: 4 Story: 9 - Howard Brown Jr. talks about his job as deputy banking commissioner of the Connecticut Department of Banking

Tape: 5 Story: 1 - Howard Brown Jr. describes changes in the banking industry in the late 1970s and early 1980s

Tape: 5 Story: 2 - Howard Brown Jr. talks about working as deputy banking commissioner for the Connecticut Department of Banking

Tape: 5 Story: 3 - Howard Brown Jr. recounts how he became banking commissioner for the Connecticut Department of Banking

Tape: 5 Story: 4 - Howard Brown Jr. talks about being the banking commissioner of the Connecticut Department of Banking

Tape: 5 Story: 5 - Howard Brown Jr. describes issues surrounding interstate banking that arose when he was banking commissioner of the Connecticut Department of Banking

Tape: 5 Story: 6 - Howard Brown Jr. talks about the founding of the Connecticut chapter of the National Association of Securities Dealers (NASD)

Tape: 5 Story: 7 - Howard Brown Jr. describes his decision to leave the Connecticut Department of Banking and his time working for Kidder, Peabody & Co.

Tape: 5 Story: 8 - Howard Brown Jr. talks about the founding of the Greystone Group

Tape: 6 Story: 1 - Howard Brown Jr. talks about the opportunities he sees within the minority mortgage market

Tape: 6 Story: 2 - Howard Brown Jr. reflects upon what the banking industry can do for inner-city communities

Tape: 6 Story: 3 - Howard Brown Jr. talks about opportunities for banking within minority communities

Tape: 6 Story: 4 - Howard Brown Jr. reflects upon opportunities for young African Americans within the banking industry

Tape: 6 Story: 5 - Howard Brown Jr. talks about his future plans

Tape: 6 Story: 6 - Howard Brown Jr. reflects upon his legacy

Tape: 6 Story: 7 - Howard Brown Jr. reflects upon how he would like to be remembered

DASession

1$1

DATape

2$5

DAStory

2$1

DATitle
Howard Brown Jr. reflects on how living in Atlanta, Georgia differed from Eutaw, Alabama and the effect on him
Howard Brown Jr. describes changes in the banking industry in the late 1970s and early 1980s
Transcript
Now what --what was that--was the Atlanta [Georgia] a change for you in many ways living there and how did it differ from Eutaw [Alabama]?$$Atlanta was a real eye opener for my sister [Dannette Lureatas Brown Daniels] and me in several respects. One was I was free to catch the bus and to go downtown by myself which was never allowed in Eutaw to go anywhere by yourself. We were exposed to the black colleges, black football games at [Alonzo] Herndon Stadium which is, which is right--which was right by Morris Brown College [Atlanta, Georgia]. The rivalry between the black high schools: [David T.] Howard [High School], [Booker T.] Washington High [School], [Henry McNeal] Turner [High School] and it was just, just an amazing thing to see the, the pride and--the-just, just the social life, just the hustle and bustle that black folks were doing and the properties that were being expanded at that point. There was Collier Heights where black folks were building their own homes, and not so much that they were moving into areas that whites were abandoning, they were building their own communities and I thought that was such a marvelous thing to see. It sort of reminded me of what my father had done with Brown Avenue [in Eutaw, Alabama].$$And, so a new world really opened up for you is what you are saying?$$Yes.$$And how did that affect you and--you know sort of the relationship to your environment around you?$$Well, it gave me the sense that I too could extend into this world and begin to carve out a way for myself. It wasn't so much that it was family and you were representing a Brown or whomever, but you were representing yourself and you had to rely on your own initiative in a very competitive--very competitive environment, and that's what Atlanta was.$[And isolated from banking.] Insurance had continued to be regulated by the states and not by the federal government --that has historic origins. So then here comes say 1980 or thereabouts. There's the Community Reinvestment Act passed in 1978 [sic, 1977]. The states after passage didn't have to, but after passage various states began enacting their own CRA [Community Reinvestment Act] legislation. Connecticut enacted its version. So, so you have this great impetus from the Federal government and now from the state governments to provide banking resources and sources of credit into areas where banks have their offices and of course we know where the banks' offices were located, they were located in downtown, but who lived downtown? Well, there are -- there were a few folks who lived in the high rises but mostly it was blue collar workers, it was the black folks; it was other ethnic groups who had very limited banking. So that's where the CRA came in, and getting back to the deregulation thing that was very big. You had financial services companies or financial holding companies wanting to get involved in insurance. Several of them wanted to do securities work. There were various legal schemes devised to allow bank holding companies to create security subsidiaries called "Subsection 20 Subsidiaries" which was expressly allowed by the Bank Holding Company Act. So there were a lot of unique mechanizations being proposed to tear down the barriers that separated banking, securities and insurance. So heading up legal you had to really be you know on top of your game to make sure you knew what you were approving and what you were getting involved in.$$Now were you -- this -- first of all, this is a time of a lot of change happening, you know and sort of creative approaches and where also -- isn't this the time of junk bonds or Mike Milken [Michael Robert Milken] and junk bonds or this is a little --?$$They are coming up and around about that time. The mid-1980s saw a lot of what I now refer to as "innovative and creative" investment opportunities. Course junk bonds now are the mainstay of the corporations that don't have investment grade debt. So inherently there was nothing really -- I shouldn't use absolutes, but I will say inherently junk bonds proved to be a very effective way of funding corporations that did not have investment grade ratings from the rating agencies. The problem with the Milken dilemma and those that followed it or were involved in it, is that there were also sprinkled amongst the junk bonds, there was some insider trading claims and other issues that questioned -- that brought into question securities law violations.

John Rogers, Jr.

Investment chief executive John W. Rogers, Jr. was born on March 31, 1958 in Chicago, Illinois to Jewel Lafontant Mankarious and Judge John Rogers, Sr. At an early age, he showed great aptitude in school as well as on the basketball court, and, because of his father, developed an interest in the stock market. Rogers graduated from the University of Chicago Laboratory School in 1976. He went on to Princeton University, where he served as captain of the varsity basketball team and graduated in 1980 with his A.B. degree in economics.

Upon graduation, Rogers became a stockbroker for William Blair & Company, LLC. In 1983, he left William Blair & Company and founded Ariel Investments (then Ariel Capital Management Corporation), an investment management company, where he became chairman and chief executive officer.

Rogers has served on the board of directors of Aon Corporation, Bank One Corporation, Burrell Communications Group, GATX Corporation, Exelon Corporation and McDonald's Corporation. He also has been active within the community, serving as chairman of the Chicago Urban League, board member of the Chicago Symphony Orchestra, the John S. and James L. Knight Foundation, the National Association of Basketball Coaches Foundations, the Investment Company Institute and the University of Chicago. He served as a member of the American Academy of Arts and Sciences, and a director of the Robert F. Kennedy Center for Justice and Human Rights. In addition, Rogers served a six-year term as the first African American chairman of the Chicago Park District, was co-chair for President Barack Obama’s Presidential Inaugural Committee 2009, and chaired the President’s Advisory Council on Financial Capability for Young Americans.

In 1994, Time magazine voted Rogers one of the "Fifty For the Future" based upon the unprecedented success of Ariel Investments. In 2008, he was awarded Princeton University’s highest honor, the Woodrow Wilson Award. In 2013, he was featured alongside Warren Buffett, Sir John Templeton and Benjamin Graham in the book: The World’s 99 Greatest Investors by Magnus Angenfelt. In 2010, his life was honored by The HistoryMakers as part of the PBS-TV interview and taping of A Night With John Rogers.

John Rogers, Jr. was interviewed by The HistoryMakers on July 17, 2002.

Accession Number

A1993.003

Sex

Male

Interview Date

7/17/2002

Last Name

Rogers

Maker Category
Middle Name

W.

Organizations
Schools

Harvard-St. George School

University of Chicago Laboratory Schools

Princeton University

Speakers Bureau

No

First Name

John

Birth City, State, Country

Chicago

HM ID

ROG01

Favorite Season

Summer

Sponsor

Tanqueray

State

Illinois

Favorite Vacation Destination

Rancho Santa Fe, California

Favorite Quote

You have to have faith in people.

Bio Photo
Speakers Bureau Region State

Illinois

Birth Date

3/31/1958

Birth Place Term
Speakers Bureau Region City

Chicago

Country

United States

Favorite Food

French Fries

Short Description

Investment chief executive John Rogers, Jr. (1958 - ) is the founder, chairman and chief executive officer of Ariel Investments.

Employment

William Blair & Company

Ariel Capital Management

Main Sponsor
Favorite Color

Orange

DAStories

Tape: 1 Story: 1 - Slating of John Rogers, Jr. interview

Tape: 1 Story: 2 - John Roger's, Jr.'s favorites

Tape: 1 Story: 3 - John Rogers, Jr. remembers his parents and grandparents

Tape: 1 Story: 4 - John Rogers, Jr. explains his personality as a child

Tape: 1 Story: 5 - John Rogers, Jr.discusses his childhood homelife and sports interests

Tape: 1 Story: 6 - John Rogers, Jr. recalls the sense of community surrounding him in Chicago while growing up

Tape: 1 Story: 7 - John Rogers, Jr. contrasts socioeconomic status and wealth in his neighborhood

Tape: 1 Story: 8 - John Rogers, Jr. expresses his hopes to become a basketball coach

Tape: 1 Story: 9 - John Rogers, Jr. remembers his father's teachings and influence

Tape: 1 Story: 10 - John Rogers, Jr. discusses his first job at Comiskey Park

Tape: 2 Story: 1 - John Rogers, Jr. explains his personal growth when moving into high school

Tape: 2 Story: 2 - John Rogers, Jr. discusses his decision to attend Princeton University

Tape: 2 Story: 3 - John Rogers, Jr. remembers life lessons learned on the Princeton University basketball team

Tape: 2 Story: 4 - John Rogers, Jr. talks about the Princeton University style of basketball

Tape: 2 Story: 5 - John Roger's Jr. tells of his relationship with Princeton Basketball Coach Pete Carril

Tape: 2 Story: 6 - John Rogers, Jr. discusses the art of teaching teamwork

Tape: 2 Story: 7 - John Rogers, Jr. talks about Coach Pete Carril's career

Tape: 2 Story: 8 - John Rogers, Jr. briefly tells of relationships with his Princeton teammates

Tape: 3 Story: 1 - John Rogers, Jr. describes his transition from college into the stock market

Tape: 3 Story: 2 - John Rogers, Jr. details the start of his investment career at William Blair & Company

Tape: 3 Story: 3 - John Rogers, Jr. discusses stategies for acquiring his first clients

Tape: 3 Story: 4 - John Rogers, Jr. recalls his decision to go to business school

Tape: 3 Story: 5 - John Rogers, Jr. explains branching off and starting his own company

Tape: 3 Story: 6 - John Rogers, Jr. talks about his business strategies and influences

Tape: 3 Story: 7 - John Rogers, Jr. discusses his abilities as a patient investor

Tape: 3 Story: 8 - John Rogers, Jr. tells of recruiting the development team at Ariel Capital Management Company

Tape: 3 Story: 9 - John Rogers, Jr. remembers Ariel Capital Management Company's early successes

Tape: 4 Story: 1 - Photo - John Rogers, Jr. with Mayor Richard M. Daley and Mellody Hobson, ca. 1990s

Tape: 4 Story: 2 - Photo - John Rogers, Jr. with Laurel Stradford and Hon. John W. Rogers, Sr., 2000

Tape: 4 Story: 3 - Photo - John Rogers, Jr. with Tom Burrell, Earl Graves, Robert Crandall and John H. Johnson, Chicago, Illinois, not dated

Tape: 4 Story: 4 - Photo - John Rogers, Jr., not dated

Tape: 4 Story: 5 - Photo - John Rogers, Jr. with Arne Duncan and Bob Love, ca. 1996

Tape: 4 Story: 6 - Photo - John Rogers, Jr. with daughter Victoria, ca. 1998

Tape: 4 Story: 7 - Photo - John Rogers, Jr. with his daughter Victoria, ca. 1998

Tape: 4 Story: 8 - Photo - John Rogers, Jr. with Rev. Jesse Jackson and daughter Victoria, ca. 1997

Tape: 4 Story: 9 - Photo - John Rogers, Jr. with Dr. Gwendolyn and Hon. John Rogers, Sr., 2000

Tape: 4 Story: 10 - Photo - John Rogers, Jr. after receiving an award from the NMSDC, ca. 1999

Tape: 4 Story: 11 - Photo - John Rogers, Jr. playing basketball with Michael Jordan, ca. 1993-1995

Tape: 4 Story: 12 - Photo - John Rogers, Jr. with Pete Carril, Roger Schmitt, Bill Jordan, Craig Robinson and two unidentified men, United Center, Chicago, Illinois, ca. 1998-1999

Tape: 4 Story: 13 - Photo - John Rogers, Jr. with three unidentified NBA referees, United Center, Chicago, Illinois, ca. 1996

Tape: 4 Story: 14 - Photo - John Rogers, Jr. with daughter Victoria, 1995

Tape: 4 Story: 15 - Photo - John Rogers, Jr., ca. 2000-2002

Tape: 4 Story: 16 - Photo - John Rogers, Jr. with Carol Moseley Brauh, Victoria Rogers and Melba Pryor, ca. 1993

Tape: 4 Story: 17 - Photo - John Rogers, Jr. and Dr. Lucinda Lee Katz, Chicago, Illinois, ca. 1997

Tape: 4 Story: 18 - Photo - John Rogers, Jr. with U.S. President Bill Clinton and U.S. Senator Carol Moseley Braun, 1996-1997

Tape: 4 Story: 19 - Photo - John Rogers, Jr. with U.S. President Bill Clinton and U.S. Senator Carol Moseley Braun, ca. 1996-1997

Tape: 4 Story: 20 - Photo - John Rogers, Jr. with his mother Jewel Stradford Lafontant, not dated

Tape: 4 Story: 21 - Photo - John Rogers, Jr. with his stepbrother, mother and stepsister, ca. 1986-1987

Tape: 4 Story: 22 - Photo - John Rogers, Jr. as a child, ca. 1959-1961

Tape: 4 Story: 23 - Photo - John Rogers, Jr. and U.S. Senator Carol Moseley Braun, not dated

Tape: 4 Story: 24 - Photo - John Rogers, Jr.'s mother Jewel Stradford Lafontant, not dated

Tape: 4 Story: 25 - Photo - John Rogers, Jr. with his daughter and two unidentified students, 2000

Tape: 4 Story: 26 - Photo - John Rogers, Jr. and Louis Rukeyser on the set of 'Wall Street Week', 2001

Tape: 4 Story: 27 - Photo - John Rogers Jr.'s father, ca. 1931-1932

Tape: 4 Story: 28 - Slating of the second part of John Rogers, Jr.'s interview

Tape: 4 Story: 29 - John Rogers, Jr. recalls landing large accounts for Ariel Mutual Fund

Tape: 4 Story: 30 - John Rogers, Jr. discusses Ariel Capital Management's growth

Tape: 4 Story: 31 - John Rogers, Jr. remembers black politcal leaders who backed Ariel

Tape: 4 Story: 32 - John Rogers, Jr. talks about other advice he received in the building of his company

Tape: 4 Story: 33 - John Rogers, Jr. explains how the Ariel Board was founded

Tape: 5 Story: 1 - John Rogers, Jr. describes his parents' roles in his early career

Tape: 5 Story: 2 - John Rogers, Jr. recalls a pivotal business opportunity in 1987

Tape: 5 Story: 3 - John Rogers, Jr. recalls personnel changes at Ariel Capital Management Company in the late 1980s

Tape: 5 Story: 4 - John Rogers, Jr. discusses the emergence of business competitors

Tape: 5 Story: 5 - John Rogers, Jr. discusses his civic involvement

Tape: 5 Story: 6 - John Rogers, Jr. discusses his business strategy for Ariel Capital Management

Tape: 5 Story: 7 - John Rogers, Jr. discusses his time as president of the Chicago Park District Board

Tape: 6 Story: 1 - John Rogers, Jr. describes changes he made in the Chicago Park District

Tape: 6 Story: 2 - John Rogers, Jr. reflects on his six-year term as chairman of the Chicago Park District

Tape: 6 Story: 3 - John Rogers, Jr. explains lessons he learned while chairman of the Chicago Park District

Tape: 6 Story: 4 - John Rogers, Jr. discusses the origins of the Ariel Community Academy

Tape: 6 Story: 5 - John Rogers, Jr. disucsses how Ariel Captial Management Company transitioned into the mutual fund industry

Tape: 6 Story: 6 - John Rogers, Jr. explains how Ariel Capital Managment Company partnered with the Calvert Group

Tape: 6 Story: 7 - John Rogers, Jr. talks about Ariel Capital Managment Company's slow and steady growth

Tape: 6 Story: 8 - John Rogers, Jr. speaks about integral employees of Ariel Capital Management Company

Tape: 6 Story: 9 - John Rogers, Jr. discusses market trends

Tape: 6 Story: 10 - John Rogers, Jr. considers his future plans

Tape: 6 Story: 11 - John Rogers, Jr. explains the rise of the public's interest in investing in the stock market

Tape: 7 Story: 1 - John Rogers, Jr. swithches political party affiliation

Tape: 7 Story: 2 - John Rogers, Jr. describes his commitment to minority recruitment in corporations

Tape: 7 Story: 3 - John Rogers, Jr. expresses his hopes and concerns for the black community

Tape: 7 Story: 4 - John Rogers, Jr. considers his legacy

Tape: 7 Story: 5 - John Rogers, Jr. discusses his family's values

Frank Greene, Jr.

In the world of business, Frank S. Greene, Jr. is a true renaissance man. He is a venture capitalist, electronics technologist and high-tech business executive. Greene was born on October 19, 1938, in Washington, D.C. to Frank S. Greene, Sr. and Irma Olivia Swygert. Greene has extensively studied electrical engineering, earning a B.S. from Washington University in St. Louis (1961), a M.S. from Purdue University (1962) and a Ph.D. from Santa Clara University (1970).

After completing his master's degree, Greene served in the United States Air Force as an Electronics Officer for four years, during which time he helped develop high performance computers for the National Security Agency. In 1965, he began working in research and development for Fairchild Semiconductor, where he assisted in the development of a patented memory chip design, the fastest at the time. In 1971, Greene became the founding CEO of Technology Development Corporation, a computer software and technical services company that would grow from four employees to over 300 by 1985, with annual revenues of over $30 million. As an offshoot of Technology Development Corporation, Greene founded Zero One Systems, Inc. in 1985. In 1993, he served as the founding General Partner of New Vista Capital, and the subsequent New Vista Capital Funds. With New Vista, he organized and developed a private equity venture capital fund and acts as a business and financial advisor to start up technology companies.

In addition, Greene has shared his expertise in the classroom, teaching courses in both computer sciences and electrical engineering at Stanford University, Santa Clara University, Howard University and Washington University in St. Louis.

Having sat on the boards of directors of Technology Development Corporation, Networked Picture Systems, Comsis Corporation, Beyond Software, Inc., Greene currently serves on the boards of Broadware, Compliance Coach, Quippe Technologies, ZNYX and Epicentric. In addition, he participates in community activities as a Board Member for the National Conference for Community and Justice and the American Musical Theater of San Jose and as a member of the Home Savings Community Partnership Council.

Greene was the recipient of the Purdue University Outstanding Electrical Engineer Award in 1999; was inducted into the Silicon Valley Hall of Fame in 2001; and was awarded the title of the Santa Clara University Distinguished Engineering Alumnus in 1993.

Mr. Greene passed away on December 26, 2009.

Accession Number

A2002.036

Sex

Male

Interview Date

3/31/2002

Last Name

Greene

Maker Category
Middle Name

S.

Organizations
Schools

Washington University in St Louis

Purdue University

Santa Clara University

First Name

Frank

Birth City, State, Country

Washington

HM ID

GRE02

Favorite Season

Spring

State

District of Columbia

Favorite Vacation Destination

Skiing

Favorite Quote

Give a man a fish and he'll eat for a day. Teach a man to fish and he'll eat for a lifetime.

Bio Photo
Speakers Bureau Region State

California

Birth Date

10/19/1938

Birth Place Term
Speakers Bureau Region City

Bay Area/San Francisco

Country

United States

Favorite Food

Fish

Death Date

12/26/2009

Short Description

Entrepreneur and investment chief executive Frank Greene, Jr. (1938 - 2009 ) was a Silicon Valley venture capitalist who founded Technology Development Corporation.

Employment

United States Air Force, National Security Agency

Fairchild Semiconductor

Technology Development Corporation

Zero One Systems, Inc.

Vista One Capital

Favorite Color

Blue

Timing Pairs
0,0:6536,116:19350,302:31450,422:41530,581:41890,586:42340,592:47800,633:49230,661:49620,670:51895,716:54365,785:54950,797:55600,808:57615,848:64830,1027:79708,1242:80366,1251:81024,1260:82810,1359:93247,1419:102430,1526$0,0:8850,182:35090,626:84954,1362:100369,1755:107752,1874:113860,1971:117540,2054:132155,2287:174100,2954:187243,3132:206862,3471:207968,3495:235480,3974
DAStories

Tape: 1 Story: 1 - Slating of Frank Greene's interview

Tape: 1 Story: 2 - Frank Greene lists his favorites

Tape: 1 Story: 3 - Frank Greene describes his father's family background

Tape: 1 Story: 4 - Frank Greene describes his mother's family background

Tape: 1 Story: 5 - Frank Greene describes his earliest childhood memories

Tape: 1 Story: 6 - Frank Greene talks about growing up in Washington, D.C. in the 1940s

Tape: 1 Story: 7 - Frank Greene describes the sights, smells, and sounds of his childhood

Tape: 1 Story: 8 - Frank Greene describes his childhood personality

Tape: 1 Story: 9 - Frank Greene describes his experiences in elementary school

Tape: 1 Story: 10 - Frank Greene talks about moving to St. Louis, Missouri as a child

Tape: 1 Story: 11 - Frank Greene describes how moving to St. Louis, Missouri impacted him

Tape: 1 Story: 12 - Frank Greene describes his schooling experiences in St. Louis, Missouri

Tape: 1 Story: 13 - Frank Greene talks about his interest in math and science as a youth

Tape: 1 Story: 14 - Frank Greene talks about teachers that influenced his interest in math and science

Tape: 1 Story: 15 - Frank Greene describes his aspirations as a youth

Tape: 1 Story: 16 - Frank Greene describes his experiences attending Washington University in St. Louis, Missouri

Tape: 1 Story: 17 - Frank Greene describes his professors at Washington University in St. Louis, Missouri

Tape: 2 Story: 1 - Frank Greene shares what he learned participating in the early Sit-In Movement

Tape: 2 Story: 2 - Frank Greene talks about the early activity of the Civil Rights Movement

Tape: 2 Story: 3 - Frank Greene talks about studying electrical engineering at Washington University in St. Louis, Missouri

Tape: 2 Story: 4 - Frank Greene talks about joining the U.S. Air Force and obtaining his M.S. degree from Purdue University

Tape: 2 Story: 5 - Frank Greene describes what influenced him to join Washington University's R.O.T.C. program

Tape: 2 Story: 6 - Frank Greene describes what makes a good leader

Tape: 2 Story: 7 - Frank Greene talks about his most influential professor at Purdue University

Tape: 2 Story: 8 - Frank Greene talks about being assigned to worked for the National Security Agency

Tape: 2 Story: 9 - Frank Greene talks about the National Security Agency

Tape: 2 Story: 10 - Frank Greene talks about retiring from the U.S. Air Force

Tape: 2 Story: 11 - Frank Greene describes how Fairchild Semiconductor has shaped the technology field

Tape: 2 Story: 12 - Frank Greene describes his family's reaction to his being hired at Fairchild Semiconductor

Tape: 2 Story: 13 - Frank Greene compares his work at the National Security Agency and Fairchild Semiconductor

Tape: 2 Story: 14 - Frank Greene describes what he learned from working at Fairchild Semiconductor

Tape: 2 Story: 15 - Frank Greene describes what motivated him to end his career with Fairchild Semiconductor

Tape: 3 Story: 1 - Frank Greene talks about President Richard Nixon's support of "Black Capitalism"

Tape: 3 Story: 2 - Frank Greene talks about what motivated him to pursue a Ph.D. at Santa Clara University

Tape: 3 Story: 3 - Frank Greene talks about founding Technology Development Corporation

Tape: 3 Story: 4 - Frank Greene talks about the growth of Technology Development Corporation

Tape: 3 Story: 5 - Frank Greene describes the software and technical services Technical Development Corporation offered

Tape: 3 Story: 6 - Frank Greene reflects upon the significance of founding Technology Development Corporation

Tape: 3 Story: 7 - Frank Greene talks about taking Technology Development Corporation public

Tape: 3 Story: 8 - Frank Greene talks about Zero-One Systems

Tape: 3 Story: 9 - Frank Greene talks about selling Zero-One Systems

Tape: 3 Story: 10 - Frank Greene talks about his work as Chief Executive Officer of Network Picture Systems

Tape: 3 Story: 11 - Frank Greene describes how he began New Vista Capital venture capital fund

Tape: 3 Story: 12 - Frank Greene describes the process of raising a venture capital fund

Tape: 3 Story: 13 - Frank Greene describes New Vista Capital's criteria for selecting businesses to invest in

Tape: 3 Story: 14 - Frank Greene describes the factors necessary to successfully manage a venture capital fund

Tape: 4 Story: 1 - Frank Greene talks about one of the companies he invested in, Epicentric

Tape: 4 Story: 2 - Frank Greene describes some of the companies his fund invested in

Tape: 4 Story: 3 - Frank Greene describes New Vista Capital's role in the venture capital community

Tape: 4 Story: 4 - Frank Greene talks about New Vista Capital's management style and goals

Tape: 4 Story: 5 - Frank Greene describes the lessons he learned that contributed to his success

Tape: 4 Story: 6 - Frank Greene talks about building and maintaining strong relationships

Tape: 4 Story: 7 - Frank Greene describes shaped his ability to network, sell, and negotiate

Tape: 4 Story: 8 - Frank Greene describes his process for dealing with issues outside of his control

Tape: 4 Story: 9 - Frank Greene comments on the future of America's business culture

Tape: 4 Story: 10 - Frank Greene talks about the importance of motivating minorities to embrace opportunity

Tape: 5 Story: 1 - Frank Greene talks about the importance of seeking out opportunity

Tape: 5 Story: 2 - Frank Greene talks about his personal life and family

Tape: 5 Story: 3 - Frank Greene talks about the significance and culture of Silicon Valley

Tape: 5 Story: 4 - Frank Greene reflects upon his life

Tape: 5 Story: 5 - Frank Greene talks about his legacy and what he would like to be remembered for

Tape: 5 Story: 6 - Frank Greene narrates his photographs

DASession

1$1

DATape

2$4

DAStory

1$1

DATitle
Frank Greene shares what he learned participating in the early Sit-In Movement
Frank Greene talks about one of the companies he invested in, Epicentric
Transcript
So now you, you get to, Washington University [St. Louis, Missouri] and I'd just like you to comment about the, you know, about the different, because you went from an all-black, institution, to a majority white.$$Um-hum. Well the difference is, all of sudden there is six of us out of 3000, 'tryin to figure out how to, how to operate and survive. And you know, along the way, one of my friends, I'm glad you asked that question, 'cause, one of my friends got involved with a human relations organization, and he got me involved in that organization. And back in those days, we were still going on sit ins, and you know, you talk about life lessons that you learn, I remember we, were you know, 'tryin to open up restaurants, and do certain, so we're going to these sit ins, and we went to one place, and they threatened to put us in jail if we didn't leave, and so we left, and we, went to another place, and this particular night, we go into this pizza parlor, and you know, we're expecting to go sit in, and they hand us menus, and they put water on the table, and napkins, and said you know, what would you like, you know, what would you like to eat? And to our shock, we didn't have any money. And so the lesson learned from that is that you gotta be prepared for success, because you know (laughs), you might succeed and you're not ready.$$That's a good lesson (laughter), that's a good lesson.$$Right. Isn't that correct$$(Unclear)--expecting to be turned away.$$Yeah, right. What know what, it's like, yeah right.$Let's see, so you want more stories. So, one story is about how this article that's in the San Jose Mercury about, about, one of our investments, and, and, and, and, and the roll I played in that investment, how that article came to be. I met Marshall, who is the, who is a reporter at the San Jose Mercury which is one of the major newspapers here in, in Northern California. He called about three months ago, said he wanted to do an article on, diversity and venture capital; what he really meant was the lack of diversity in venture capital. I said well Matt, I don't want to do that kind of article, you know, I'm not your guy for that kind of article. And I said by the way if you want to do something, do something on a real success story where you had a real diverse management team. Now, in the case of this particular company, Epicentric, the, technology founder is, Hispanic, his father is Columbian, his mother is Puerto Rican, the marketing founder is half Nigerian and half Polish, the VP [vice President] of sales was a woman. This company started out with a total amount of about $850,000 on their first round of financing. They were able to get their first product finished, and, about a dozen beta customers, before they went to the next round, after the next round they recruited a CEO [Chief Executive Officer], who is not part of the traditional Stanford MBA [Stanford Graduate School of Business, Masters in Business Administration Program, Stanford University], Berkeley MBA [Haas School of Business, Masters in Business Administration Program, University of California-Berkely], but he's a very solid manager, really smart guy. And, now they are likely to go public later on this year, this CEO has raised about 80 million dollars since he's joined the company. And I said, you know Matt, you know, if you want to talk about diversity, talk about, you know, the miracle that has occurred with this diverse management team. And they just started this company back in, in mid to late '98' [1998].$$But you were one of the early stage investors--$$Oh yeah, us and a couple of other funds.$$But, what, what impressed you about them?$$Well, they had, I mean they had the, the technology; well they are all really smart people. The marketing, the fellow's a marketing and co-founders are probably the best marketing guys I've seen, the technologists is one of the best I've seen. They were in this area, where it was the use of the internet, for web applications inside of, enterprises, he had some good ideas, and you know, just, this whole thing was looking to gel. He also recognized the, the founding CEO also recognized that he couldn't be the CEO of the company really. He was going to, you know, he had a chance to really take off, and you know, that we would be bringing in another CEO. I mean, not that it was easy for him to step down, because it wasn't easy, I mean it took about, probably about six months to make that transition. But, once, you know, once he saw, you know, the kind of person you can bring in, he pretty readily accepted. And they've been able to form, you know even today, the founders and the new CEO, are a very effective management team, taking that company forward.$$Is that typical though, that, you know the founders and the, the new management team are able to get along? I mean that doesn't--$$It's, it can work different ways, I mean but part of our goal in the recruiting a new CEO was to make sure we had somebody at least we thought that would be able to work with the management team, the purpose, because, the founders were too critical to the business. So, it wasn't as if, you could just come in and, you know, replace the old founders, and create, create a whole new, I mean, I don't think that would work.$$And who was the new CEO, what, what skill set did he bring to the table?$$He had been a CEO, at a couple companies, he had very strong sales experience, sales management experience.