The Oakland African American Chamber of Commerce (OAACC) celebrated community and business leaders at the 23rd Annual Business Awards Luncheon on Thursday, Oct. 22 at Scott’s Seafood Restaurant in Jack London Square. Held under the theme “Building a Stronger Oakland Through Innovation, Technology, and AI,” the event brought together business owners, elected officials, and civic leaders.
Oakland Mayor Barbara lee and U.S. Rep. Lateefah Simon were also present.
Keynote speaker James “Jim” Reynolds, Jr., founder, chairman, and CEO of Loop Capital, enthusiastically addressed the audience. Reynolds’ firm is backing the AASEG (African American Sports and Entertainment Group) and partners with funding to redevelop the Oakland Coliseum site in East Oakland.
Reynolds spoke of plans to provide thousands of employment and contracting opportunities to Oakland’s resilient residents.
“We expect to completely close the deal by Dec. 31 and in January we will begin digging,” he said of the six-year acquisition process.
“I want all small businesses, entrepreneurs, and contractors to prepare themselves for these opportunities,” Reynolds explained in the green room.
Reynolds has successfully completed multiple billion-dollar developments and projects including Los Angeles International Airport, LaGuardia International Airport, John F. Kennedy Airport, and now Queens, New York.
AASEG President Ray Bobbitt said the Coliseum Project will be the largest development in the country. Bobbitt stressed that Reynolds and his team took a chance on Oakland at a time when companies were abandoning the city.
“Mr. Reynolds is committed to the project and transforming the area,” said Bobbitt. “Mr. Reynolds sees Oakland as a great city with untapped potential. We are very grateful he believes in us.”
In 1997, Reynolds founded the Chicago-based municipal bond firm, growing it into one of the nation’s leading minority-owned financial services companies and among the largest privately held investment banks in the country.
Reynolds said he was very impressed with Oakland’s business community. “This community is really ready for something new and we plan to deliver.”
During the luncheon, OAACC presented awards to four honorees.
Derreck Johnson received the Lifetime Achievement Award. Johnson founded Home of Chicken and Waffles in Jack London Square in 2003, creating jobs for the formerly incarcerated and young people from Oakland’s inner-city communities.
Celessa Baker, vice president of Marketing Partnerships at Sephora, received the Visionary Leadership Award. A marketing executive with more than 20 years of experience, Baker served as retail marketing lead for the global launch of Fenty Beauty by Rihanna.
Angela Johnson, director and head of Global Delivery Partnerships at Uber Technologies, received the Business Excellence Award. She previously served as Uber’s chief of staff and founded the Coalition of Black Excellence.
Dr. Denise Saddler, superintendent of the Oakland Unified School District, received the Educational Recognition Award. Saddler has spent more than 40 years in the city’s education system, working as a teacher, principal, and district leader before becoming superintendent in 2025.
Lee announced that Oakland is listed in the Top 10 as best destinations. “Oakland is on the move,” said Lee. In agreement with Lee, Simon vowed to continue fighting for the resources needed to keep Oakland moving forward.
“The chamber is committed to strengthening Oakland’s economy and uplifting its Black business community,” said Cathy Adams, president and CEO of OAACC.
