Five slated for the Washington Business Hall of Fame

Five Washington-area business leaders are set to be inducted into the Washington Business Hall of Fame tonight for the contributions they have made to the region’s economy

Two real estate executives, two financial officers and a technology consultant will be inducted by Junior Achievement of the National Capital Area, the Greater Washington Board of Trade and Washingtonian magazine in ceremonies at the Marriott Wardman Park hotel.

Beginning with small, downtown buildings, John “Chip” Akridge III established the John Akridge Co. in 1974 and slowly built his company’s portfolio to more than 9.7 million square feet in the Washington area, including Gallery Place and the Victor Building.

“We’re not the biggest; we’re the best,” Mr. Akridge told Stephanie Brown, senior vice president of the John Akridge Co., when she started working for him 25 years ago.

He visits each of his properties and scrutinizes the most minute details of the sites, right down to the bubble gum on the street.

“Chip is a very disciplined person and has a great eye for details, and that makes a big impression on his employees,” Ms. Brown said.

“There’s always somebody smarter than you, so I try to work a little harder,” said Jeong Kim, president of the Bell Labs division of Lucent Technologies, based in Murray Hill, N.J.

Mr. Kim’s mantra has brought him from meager beginnings to an apex of achievement in Washington business.

Mr. Kim emigrated to Anne Arundel County from Seoul at the age of 14. After graduating from Johns Hopkins University and serving in the U.S. Navy, Mr. Kim created his own technology startup company in 1992 called Yurie Systems Inc. He focused on creating technology products that were valuable to his customers.

“You cannot build a business thinking about somebody’s going to buy it. You have to think in terms of creating value,” he said. “You’ve got to take one step at a time, especially if you are a small company.”

Mr. Kim’s company became a world leader in advanced data transmission and won a $1 billion buyout from Lucent in 1998.

B. Francis Saul II has left an indelible mark upon the metropolitan region as a result of his active philanthropy.

As the chairman and chief executive of Chevy Chase Bank FSB, Mr. Saul controls the bank’s 228 branches in Maryland, Delaware, Virginia and the District.

Mr. Saul is also the chairman and president of the B.F. Saul Co., and the B.F. Saul Real Estate Investment Trust. As a D.C. native and a graduate of the regional private-school system, Mr. Saul has led and coordinated the region’s contributions to the Inner-City Consortium for Catholic Schools.

He serves on the John F. Kennedy Center for the Performing Arts Honors Committee, as a trustee of the National Geographic Society, Trustee Council member of the National Gallery of Art, a trustee of the Johns Hopkins Medicine Board and a member of the Archdiocese of Washington Finance Council.

Alexandra Armstrong has surprised her community with how willing she is to give back to its members.

The native Washingtonian is chairman of Armstrong, Fleming and Moore Inc., a personal financial-planning and asset management firm in the District.

Ms. Armstrong has worked in the investment field for more than 30 years.

She volunteers as a board member for the Boy Scouts National Capital Area Council, the board of Reading is Fundamental Inc., and the Independent Women’s Forum Leadership Foundation.

“I think that the business and the volunteer work I do has been very rewarding, and it is a huge honor to be inducted into the Washington Business Hall of Fame,” Ms. Armstrong said.

Kenneth Sparks made his mark locally as a perennial official for the Federal City Council since 1970.

“It was one of the greatest jobs imaginable,” Mr. Sparks said.

“I had the opportunity to work with the top politicians, business and civic leaders in the District to get things done.”

He remained an active member of the nonprofit group of business leaders, serving as the executive vice president and chief executive officer until his retirement in 2004.

During his 34 years on the council, he was involved with such projects as the development of the Verizon Center, the Ronald Reagan Building and International Trade Center, both the convention centers, and the renovation of Union Station.

“This rebirth of housing in the downtown area of D.C. is something which I’d never dreamed possible,” he said.

Mr. Sparks is president and CEO of Ken Sparks Associates LLC, a District-based consulting company specializing in public affairs and economic development.