[Congressional Record Volume 163, Number 196 (Friday, December 1, 2017)]
[Extensions of Remarks]
[Page E1631]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       HONORING REGINALD F. LEWIS

                                 ______
                                 

                        HON. ELIJAH E. CUMMINGS

                              of maryland

                    in the house of representatives

                        Friday, December 1, 2017

  Mr. CUMMINGS. Mr. Speaker, deeply embedded in our character as 
Americans is the vision that ours should be a nation that offers 
opportunity to all of our people. Even as we continue to work toward 
making this shared aspiration a reality, we must also recognize that 
the pathways to a better life are far more difficult for far too many 
of our citizens.
   This is why I addressed my colleagues on December 1. I rose on the 
floor of the House to celebrate a milestone in our nation's financial 
history.
   I spoke of an event 30 years ago when Reginald Francis Lewis tore 
down long-standing social and political stereotypes in our nation's 
financial industry.
   On November 30 and December 1 in 1987, Mr. Lewis negotiated the $985 
million leveraged buyout of Beatrice International Foods--a transaction 
that was heard in financial circles around the world.
   At the time, this was the largest offshore transaction in the 
country--a breakthrough moment orchestrated by a son of Baltimore, who 
became the first African-American, billion-dollar business tycoon.
   The 30th anniversary of this step toward realizing our dream of 
universal economic opportunity deserves celebration both for all that 
it accomplished and as a reminder of the challenges that we have yet to 
overcome.
   Mr. Lewis' acquisition led to the founding of TLC Beatrice 
International Holdings, Inc., the first African-American owned 
enterprise to break through the billion-dollar mark when it grossed 
$1.8 billion in sales during its first year.
   That landmark, in turn, helped to change the landscape of American 
business forever, paving the way for more Americans of Color to succeed 
in the billion-dollar-business league.
   This, however, is only the most apparent reason that I rose in the 
House to celebrate that moment.
   Equally important, I reminded my colleagues that Mr. Lewis' 
character as a human being of African heritage is more representative 
of our character and ambitions than the negative stereotypes that 
continue to present barriers to success in our country.
   Reginald Lewis was not an overnight success, as many of his peers 
and family would point out.
   Even as a young person growing up in Baltimore, Mr. Lewis developed 
a strong work ethic and showed great ambition. His passion to succeed 
carried him from Baltimore to Virginia State University and Harvard Law 
School. Although he ``mastered the art of the deal,'' he did so with 
integrity and tenacity.
   This was the man I was fortunate to call my friend, and his untimely 
death in 1993 left a void in our nation's financial industry that is 
palpable today.
   Because of his success in business, the doors to economic 
opportunity have opened somewhat for other young Americans of color, 
who now are inspired to dream as big as Reginald F. Lewis dreamed--and 
to ``keep on going, no matter what''--until they achieve their own 
visions for themselves and their communities.
   Today, Reginald's name will forever be remembered in our hometown of 
Baltimore through the Reginald F. Lewis Museum of Maryland African 
American History and Culture, and highlights of his life are also 
permanently displayed at the Smithsonian National African American 
Museum of History and Culture.
   Before Mr. Lewis died, he gave back to the institution that gave him 
the tools he needed to change Wall Street: as a testament to his 
generosity, The Reginald F. Lewis International Law Center stands at 
Harvard Law School.
   To carry on his spirit of philanthropy and his belief that a good 
education is key to one's success, the Lewis family has continued to 
``give back'' to our society.
   They created the Reginald F. Lewis Foundation, and partnered with 
others to create the Reginald F. Lewis High School of Business & Law in 
Baltimore, the Reginald F. Lewis College of Business at Virginia State 
University, and The Lewis College in Sorsogon City, Philippines, his 
widow's hometown.
   In loving memory of their father, his daughters continue to make 
lasting contributions to American society.
   For example, Leslie Lewis was recently recognized for her moving 
one-woman show called ``Miracle In Rwanda,'' based on a true story of 
surviving violence, overcoming odds and the power of forgiveness. 
Christina Lewis-Halpern founded All Star Code, a not-for-profit 
organization that seeks to equip young men of color with the tools they 
need to become a new generation of entrepreneurs, who will create even 
broader economic opportunity for us all.
   By breaking a barrier in American business, Reginald Lewis also 
affirmed our core values of diversity, equality, and the liberty to 
pursue happiness--values that transcend color and race, nationality and 
gender.
   As Americans, we all have good reason to rejoice in the successes of 
our sons and daughters. They will continue to perfect us as a nation 
and celebrate us as a great people.

                          ____________________