Computer repair orange county

Minority-owned businesses: L.A. County based; ranked by 2002 company wide revenues - The List

EXECUTIVE SUMMARY

DESPITE the tough economic climate, more than half of Los Angeles County's 25 largest minority-owned businesses reported revenue gains in 2002. The companies reported combined revenues of $7.2 billion for the year.

With qualification criteria revised to eliminate public companies, there was quite a bit of change on the list this year. Nine firms joined for the first time, and several returning businesses saw substantial movement. Most notably, retailer Forever 21 reported $400 million in 2002 revenues, landing it at No. 6 in its debut on the list. Its 2002 revenues reflected a 33 percent increase over the year earlier.

Rounding out the group of businesses with revenue gains of greater than 20 percent were list veterans Molina Healthcare Inc. (No. 4), Avus Systems and Peripherals Inc. (No. 9), Premio Computer Inc. (No. 10) and C & F Foods Inc. (No. 12)

Alert Staffing, No. 16, saw the largest drop, sliding seven places for the year on revenue declines of more than 60 percent. The firm emerged successfully from Chapter 11 bankruptcy in February.

Nicole Taylor

THE PACESETTER

COOK INLET ENERGY SUPPLY

THOUGH its revenues were flat at $3 billion, Cook Inlet N Energy Supply retained its spot as the largest minority-owned business in Los Angeles County for the third year in a row. The company towers over the rest of the list, with revenues more than three times greater than No. 2 ViewSonic Corp.

Native Alaskan Gregory Craig founded the energy trading company in 1989. Cook has since grown to be the nation's largest minority-owned energy company, buying and selling 4.2 billion cubic feet of natural gas per day.

The company officially became a minority-owned in 2000 when Craig purchased 51 percent of Cook. Fletcher Energy Development Corp., an affiliate of Harvard Management Co. Inc., owns the remaining 49 percent.

Cook also operates in the electric power market through Cook Inlet Power, a partnership of Cook, Inupiat Energy Corp. and Harvard Private Capital Holdings Co. focusing on industrial, government and commercial users.

Craig said Cook has focused on its gas trading operations and keeping its debt at zero. He also boasted of the company's low turnover and the "reverse pyramid hierarchy" among the firm's 58 employees.

Craig foresees a smaller, more focused energy market. "My belief is that the new energy industry will be one that is healthier, more focused on the importance of ethics, real earnings and the value of its people," said Craig.

Nicole Taylor

[GRAPH OMITTED]