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African-American Alumni Conference Considers Success and the Bottom Line
The second annual HBS African-American Alumni Association (HBSAAAA) conference was held in Chicago, October 8-10. Titled "Creating and Preserving Wealth: Leading the Next Great Migration," the two-day conference attracted close to two hundred attendees. Organized by honorary chairman Peter C.B. Bynoe (MBA '75/JD '76) and cochairs Gregory A. White (MBA '90) and Jeffrey S. Perry (MBA '91), the conference brought together African-American alumni from HBS, the University of Chicago, and Northwestern University.
The distinguished group of conference presenters included the Reverend Jesse L. Jackson, Sr.; John H. Johnson of Johnson Publishing; Robert Johnson, CEO of Black Entertainment Television; and Stuart Alden Taylor (MBA '87), senior managing director at Bear Stearns. Interactive sessions explored private equity deal structuring, equity participation as a component of the compensation package, angel investment opportunities, the creation of wealth in the digital age, the building of successful urban enterprises, and transferring wealth to future generations. A provocative discussion on the relationships among success, wealth, and networks was led by Steven S. Rogers (MBA '85), an entrepreneurial finance professor at Northwestern's Kellogg School.
In view of this year's conference theme, HBSAAAA president Kenneth A. Powell (MBA '74) notes that Chicago was chosen "in part because of its history as a primary destination for African Americans migrating from the rural South to the industrial North to create better lives for themselves, their families, and the community." Powell applauded the many African-American HBS graduates whose support for the gathering helped attract a long list of corporate sponsors, including BP/Amoco, Citibank, Andersen Consulting, Heidrick and Struggles, Medtronic, Morgan Stanley Dean Witter, Shell, and Sun Microsystems. A portion of the conference proceeds will benefit HBS community initiatives such as the campaign to fund a chair honoring H. Naylor Fitzhugh (MBA '33) and the George P. Baker Fellowship, as well as programs in the local Chicago community.
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