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Text File  |  1990-09-17  |  894b  |  18 lines
  1. BUSINESS, Page 89Business NotesMINORITY ENTERPRISEDoing It for Themselves
  2.  
  3.  
  4.     Stephen Yelity, 39, was an accounting manager for Johnson &
  5. Johnson, when he decided to start his own computer software firm
  6. six years ago. Accurate Information Systems (1988 sales: $10.5
  7. million), based in South Plainfield, N.J., is now the 65th largest
  8. black-owned firm in the U.S., according to Black Enterprise
  9. magazine.
  10.  
  11.     Like Yelity, a growing number of black executives are leaving
  12. large corporations to set up their own companies. During 1988,
  13. Black Enterprise reports, sales of the 100 largest black-owned
  14. firms grew 10.2%, compared with 7.6% sales growth for FORTUNE 500
  15. firms. Largest by far: TLC Beatrice International Holdings (1988
  16. revenues: $1.96 billion), a multinational food-processing concern
  17. acquired by Reginald Lewis in a $985 million leveraged buyout two
  18. years ago.