Why Should White Guys Have All the Fun? How Reginald Lewis Created a Billion-Dollar Business Empire - Hardcover

Lewis, Reginald F.; Walker, Blair S.

Hardcover

ISBN 10: 0471042277 ISBN 13: 9780471042273

Publisher: John Wiley & Sons Inc, 1994

Synopsis

The late African-American entrepreneur traces his rise from a Baltimore ghetto to the elite inner circle of Wall Street deal-makers, discussing issues of race, values, success and failure, and ways to take advantage of opportunity.

About this title

About the Author

REGINALD F. LEWIS was chairman, chief executive, and principal shareholder of TLC Beatrice International Holdings, Inc., until his untimely death of brain cancer in January, 1993. He was fifty years old when he died. BLAIR S. WALKER is a former financial writer with the "Money" section of USA Today. He has also worked as an editor with New York Newsday and as a reporter with the Chicago bureau of The Associated Press.

From the Back Cover

"Voyages deep into the frenzied, complex world of LBO transactions."—BusinessWeek.

"Sheds light on an important chapter in both African-American and American business history."—Earl G. Graves, Publisher, Black Enterprise magazine.

When Reginald Lewis was six years old, his grandparents asked his opinion about employment discrimination against blacks. Reg replied simply, "Why should white guys have all the fun?"Why, indeed! Lewis grew up to become the wealthiest black man in history and one of the most successful entrepreneurs of all time, reigning over a commercial empire that spanned four continents. At the time of his death in 1993, his personal fortune was estimated at $400 million.

"Why Should White Guys Have All the Fun?"traces Lewis's rise from a working- class neighborhood in east Baltimore to Harvard Law School and ultimately into the elite circle of Wall Street deal-makers. Expanding on Lewis's unfinished autobiography, journalist Blair Walker completes a vivid portrait of a proud, fiercely determined man with a razor-sharp tongue—and an intellect to match. He shows how Lewis's lifelong hunger for wealth and personal glory fueled his success on the playing field, in the classroom, and in the boardroom. Walker also provides a rare insider's view of Lewis, the iron-willed negotiator and brilliant business strategist in action as he finesses one phenomenal deal after another.

A moving saga of personal courage and determination as well as a virtual how-to book for those who would like to follow in Lewis's footsteps, "Why Should White Guys Have All the Fun?"is every bit as memorable as the man whose story it tells.

From the Inside Flap

"Why should white guys have all the fun?" One of Reginald Lewiss earliest childhood memories was of hearing his grandparents talk of employment discrimination against African-Americans. When asked for his opinion on the subject, six-year-old Reg simply replied: "Why should white guys have all the fun?" Why, indeed! This precociously self-assured boy would grow up to become the wealthiest black man in history and one of the most successful entrepreneurs of all time. Profiled in Forbes magazine as one of the four-hundred wealthiest businesspeople in America, Lewis reigned over a commercial empire spanning four continents. At the time of his death in 1993, his personal fortune was estimated by Forbes to be in excess of $400 million. Having apprenticed in the art of the leveraged buyout while head of his own successful Wall Street law firm, he went on to mastermind some of the most spectacular deals ever, including the $1 billion purchase of food giant Beatrice Internationalone of the largest leveraged buyouts ever. A noted art collector and connoisseur, he was also a celebrated philanthropist who gave away a vast fortune to charity. Yet despite the notoriety surrounding Lewiss financial coups, until now, little has been written about the life of this remarkable but private man. Based on Reginald Lewiss unfinished autobiography as well as scores of interviews with family, friends, and colleagues, "Why Should White Guys Have All the Fun?" cuts through the myth and media hype to reveal the man behind the legend. What emerges is a vivid portrait of a proud, fiercely determined individual with a razor-sharp tongueand an intellect to matchwho would settle for nothing less than excellence from himself and others. Tracing Lewiss rise from an east Baltimore working-class neighborhood to Harvard Law School and ultimately into the elite circle of Wall Street deal-makers, journalist Blair Walker shows how Lewiss lifelong hunger for wealth and personal achievement drove him to success at whatever he turned his hand to. Walker also provides us with a rare insiders view of Lewis, the iron-willed negotiator and brilliant business strategist in action as he finesses one phenomenal deal after another. An inspiring tale of a remarkable mans victory against overwhelming odds, "Why Should White Guys Have All the Fun?" is a book as memorable as the man whose story it tells.

Reviews

A serviceable biography of the black attorney/businessman whose accomplishments set a challenging standard for tycoons of any ethnic background. Before he died of brain cancer at age 50 early in 1993, Lewis had partially completed a memoir of his remarkable life and career. Drawing on these jottings, as well as on extensive interviews with his subject's close-knit family, friends, and associates, USA Today correspondent Walker offers a warts-and-all portrait of an irresistible force. From his East Baltimore boyhood on, the ultra- industrious Lewis planned, even schemed, to make himself a world- class success. Barely an average student at Virginia State, he finessed his way into Harvard Law School without even taking the entrance exam. After a two-year stint with the top-drawer Manhattan firm Paul, Weiss, Rifkind, Wharton & Garrison, he struck out on his own. Serving a lengthy apprenticeship as a specialist in minority- enterprise small-business-investment corporations, Lewis learned enough to become a player in the great takeover game that preoccupied Wall Street during the 1980s. After a couple of false starts, he masterminded a leveraged buyout of McCall Pattern Co., which in a few years yielded him and fellow investors a 90-to-1 return. With a little help from his friend Michael Milken, he went on to engineer another coup--the LBO for nearly one billion dollars of Beatrice International Foods. At the time of his death, Lewis had the Paris-based enterprise operating on an enviably profitable basis throughout Europe. This account of Lewis's achievements emphasizes his tough- minded, goal-oriented approach to personal and philanthropic as well as financial affairs. (16 pages of 28 photos, not seen) (First serial to Black Enterprise) -- Copyright ©1994, Kirkus Associates, LP. All rights reserved.

YA?Even as a small child, Lewis's goal was to become the richest black man in America. When he died of brain cancer at age 50 in 1993, he was worth over $400 million and was considered by Forbes magazine to be one of the 400 wealthiest Americans. Not only was he an extremely successful businessman, but he was also a caring philanthropist. His journey from middle-class Baltimore resident to international citizen makes for fascinating reading. He was in the process of writing his autobiography when he died, and Walker consulted many sources in order to give a full and accurate account of this intense, goal-oriented man's life. Lewis's words appear in italics; Walker's, in Roman typeface, provide additional information. Walker discusses his subject's private life, but he concentrates more on the business aspects. This is enough. It is inspiring to see how one individual can plan ahead and overcome both racial and financial obstacles to become such a world-wide success.?Pat Royal, Crossland High School, Camp Springs, MD
Copyright 1995 Reed Business Information, Inc.

This biography of business magnate Lewis is based on his unfinished autobiography; he died in 1993 at age 50 from brain cancer. Walker, who writes for the "Money" section of USA Today, completed the book after interviewing Lewis's family, friends, colleagues and employees. Lewis, growing up in an African American family in segregated Baltimore, attended parochial school, worked his way through college and Harvard Law and became a successful attorney and highly visible business executive, capping his career with the leveraged buyout of conglomerate Beatrice International Foods for $985 billion in 1987. His personal fortune was $400 million, we learn in this inspiring bio/business study, which deftly conveys Lewis's concerns not only about his work but also about his family, race and his own death. Photos not seen by PW. First serial to Black Enterprise.
Copyright 1994 Reed Business Information, Inc.

Lewis' in-your-face title emphasizes the fact that in the high-stakes games of leveraged buyouts and deal making that were played in the 1980s, none of the participants were black until he came along. Lewis died of brain cancer in 1993 at the age of 50; he had begun work on his autobiography, which forms the basis of this book and which was completed by Walker, a financial writer for USA Today. The story of Lewis' journey from east Baltimore's ghetto to Harvard Law School to Wall Street makes fascinating and inspiring reading. Brad Hooper

From a humble birth in 1942 Lewis rose to become CEO of the billion-dollar company Beatrice in 1987. Journalist Walker, who never met Lewis, based this chronicle on dozens of interviews and on an unfinished autobiography Lewis wrote shortly before his death from brain cancer in 1993. As an African American, Lewis may have had a rocky trip to the top, but he didn't "dwell" on his race, as he is quoted as saying in his New York Times obituary. Reading this history, one comes away with a renewed appreciation of the opportunities still available in the United States to those who work hard and long. Long hours alone do not explain Lewis's success, of course. Also important were his determination, tenacity, intelligence, and education-the story of how he got into Harvard Law School is fascinating. One need not understand leveraged buyouts to enjoy this well-written biography. Recommended for public libraries.
Alex Wenner, Indiana Univ. Lib., Bloomington
Copyright 1994 Reed Business Information, Inc.

Edition details

• Publisher: John Wiley & Sons Inc
• Publication date: 1994
• Language: English
• ISBN 10: 0471042277
• ISBN 13: 9780471042273
• Binding: Hardcover
• Edition number: 1
• Number of pages: 318