25 Michigan-Based Companies Among the Nation's Top-Grossing Black-Owned Businesses

BLACK ENTERPRISE Issues 34th Annual Report on Black-Owned Businesses

NEW YORK, June 5 -- Twenty-five Michigan-based companies are among the nation's leading black-owned businesses, according to the 34th annual BE 100s report issued by BLACK ENTERPRISE magazine. The BE 100s lists are widely recognized as the most respected measure of black-owned business performance. Overall, the lists total 275 businesses: 100 industrial/service companies, 100 auto dealerships, 60 financial services firms, and 15 advertising agencies. In developing rankings for 2006, the BLACK ENTERPRISE research department collected surveys from hundreds of companies and culled information from scores of government agencies, professional organizations, industry associations, business information services, entrepreneurs, and corporations. The information requested included total revenues for the 2005 calendar year, a detailed description of business activities, historical ownership data, and confirmation that the entity is at least 51% black-owned or that blacks own at least 51% of controlling shares if the company is publicly traded.

Barden Cos. Inc., No. 6 on the BE INDUSTRIAL/SERVICE 100 list, is Michigan's top-grossing industrial/service company. The Detroit-based casino gaming and real estate development corporation reported $519 million in sales for 2005.

Prestige Automotive Management in Ypsilanti holds the No. 1 position on the BE AUTO DEALER 100 list for the third consecutive year. It is the nation's largest black-owned auto dealership, with more than $1 billion in 2005 sales.

The city of Southfield is the home of the nation's largest African American-owned advertising agency, GlobalHue, which ranks No. 1 on the BE ADVERTISING AGENCIES list with $470 million in billings in 2005. CEO Don Coleman's agency has ranked No. 1 since 2001.

Detroit's First Independence Bank ranks No. 12 on the BE BANKS list, reporting $192 million in assets for 2005.

The complete listing, including eligibility requirements and criteria, is available in the June 2006 issue of BLACK ENTERPRISE on newsstands now.

BLACK ENTERPRISE, your ultimate guide to financial empowerment, is the premier business and investment resource for African Americans. Since 1970, BE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. The monthly publication provides 3.9 million readers with information on entrepreneurship, careers, and financial management. As the definitive source of information for and about African American business markets and leaders, BE is the authority for business news and trends.