Word: barden
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Dates: during 1990-1999
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When he started looking for international opportunities eight years ago, Barden had had a long career in the U.S. His holding company, Barden Companies, is involved in riverboat gambling (aboard a vessel operating out of Gary, Ind.) and owns radio stations in Illinois, a computer-assisted learning company in Tucson, Ariz., and a construction company building housing projects in Detroit. Last year these businesses racked up sales of $93 million. But Barden had no foreign contacts...
...besides having been chief financial officer for the Detroit city government, had taught college courses in black studies). One of the guests was a man who became the Deputy Foreign Affairs Minister of Namibia when it emerged from South African control into full independence a year later; he and Barden hit it off. Says Marshall: "That one social interaction sparked our interest in Namibia...
...Barden and Marshall also consulted with a close friend: the late Secretary of Commerce Ron Brown, a strong advocate of U.S. investment in Africa. He encouraged their interest in Namibia, which was creating what Marshall, president of the newly formed Barden International, calls "an exciting climate" for business. She explains that Namibia had elected an administration "with sophisticated people in the right leadership positions. Namibia has the second strongest credit rating of any sub-Saharan African country and a stable government interested in doing business with...
Nonetheless, says Marshall, "we didn't just dash forward. We proceed with the same caution and depth as a FORTUNE 500 company. We probably did two or three years in research"--during which time Barden was also studying proposals from other African countries, including South Africa. The negotiations had to be conducted across 7,753 miles and seven time zones, a strain that all multinational executives must be prepared to undergo. "It is not unusual for me or my staff to be on the phone beginning at midnight, or to have a business day that extends...
Namibian President Sam Nujoma made it clear that Namibia wanted a manufacturing plant. His position, says Marshall, was that Namibians "must be producers and not just consumers." Barden executives discussed building a plant to process fish or one to make concrete blocks. But Barden had contacts at General Motors, which was eager to get back into the area (it had shut down in South Africa in response to an international campaign against apartheid). After Nujoma visited the U.S. early this year, a deal was struck. Barden will become GM's sole distributor in Namibia. GM will ship 818 cars, vans...