In another confirmation of the growing economic strength of the black middle class, Black Enterprise magazine published last week its first annual listing of the nation's 100 largest black-owned or operated manufacturing and marketing companies. It shows that black entrepreneurs have made some significant progress in building profitable businesses, but that they still inhabit only a minor backwater in U.S.
industry.
Heading the list is Los Angeles-based Motown Industries, one of three record companies in the top 100. Started in Detroit 14 years ago by Berry Gordy Jr., Motown last year parlayed its soul singers (Diana Ross, the Temptations) into sales...
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