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Magic Johnson said a long time ago, ' Black people in Harlem will buy cups of coffee,' and his Starbucks is one of the most successful franchises in New York. Pierce: It was some of the deepest flooding in New Orleans and we lost everything.

Pontchartrain Park was a historic neighborhood -- it was the first place where, during the ugly days of Jim Crow and segregation, African Americans could purchase a home after World War II.

Pierce: We have two divisions -- a convenience store division, which is Sterling Express, and Sterling Farms are the grocery stores.

We hope to have by the end of the year four Sterling Express stores and two Sterling Farms stores.

We’ve had over 300 people pre-qualified and about 20 closings this month so the neighborhood is coming back. One day years from now, I always imagined a kid who comes up to me and says, “Mr.

Pierce, in New Orleans’ darkest days, what did you do?

Today, New Orleans residents -- only 58 percent of which have cars -- have to travel an average of three miles to reach their closest market.

[pullquote] THR: One would think that greed trumps all and even in the wake of Katrina, there’s money to be made, but the big chains seem to have taken a wait-and-see approach when it comes to New Orleans….

Wendell Pierce: One of my partners, James Hatchett, has been in the supermarket business for almost three decades now in Chicago.

He came down to New Orleans after Katrina as part of a food initiative to help people start stores. And my other partner Troy Henry, who I’ve known since I was a kid, he’s the businessman. As for the idea, Troy had run for the mayor’s office and came in second, so afterwards I said, "Besides politics, there are ways to really have an impact." There was an iconic store in New Orleans that was at the heart of the African American community for decades, Circle Food Store, which still, to this day, has not reopened. That would mean so much more than any political statement. We realized we were all on the same page and Sterling Farms was created. I've always heard the saying, in troubled times always invest in food because that's the one thing that people can never do without. THR: Your first store in Marrero, Louisiana is about 10 miles from New Orleans city center and the lower ninth ward, how did you decide on a location?

Pierce: I think that's across the board, not unique just to New Orleans. We feel as though there's this finite amount of wealth and I have to do everything possible to make sure I keep mine and exclude others.

Where the true American aesthetic has always been, give people access to education, to opportunity and then ideas will come -- entrepreneurship happens, growth happens and wealth grows. So I'm basically going back to classic American entrepreneurship.