Major U.S. Corporations Inducted Into Billion Dollar Minority Roundtable.

Ten major corporations will convene in New York on March 28th for induction into the Billion Dollar Roundtable (BDR), a new initiative of corporations that each spend more that $1 billion annually with minority and women-owned businesses.

AT&T Corporation, DaimlerChrysler Corporation, Ford Motor Company, General Motors Corporation, IBM Corporation, Lucent Technologies, Philip Morris Companies Inc., SBC Communications Inc., Verizon Communications Inc. and Wal-Mart Stores, Inc., collectively purchased more than $18 billion in products and services last year from minority and women-owned suppliers.

Don McKneely, publisher of Minority Business News U.S.A. and Women’s Enterprise Magazine will present the BDR awards to the qualifying corporations. “Our two publications are designed to encourage and increase corporate business partnerships with a diverse supplier base. As the founder and host of the Billion Dollar Roundtable, we are excited about our role in promoting minority and women business development,” said McKneely.

National Minority Supplier Development Council President, Harriet Michel will also receive the Billion Dollar Roundtable Pioneer Award for her outstanding leadership in the field of supplier diversity. “I applaud these companies for convening to celebrate and draw a focus on the need for greater spending with diverse suppliers,” said Michel.

Additionally, the Billion Dollar Roundtable Vanguard Award will be presented to Ford Motor Company for exceptional achievements in supplier diversity. In 2000, Ford posted expenditures in excess of $3.5 billion. “On behalf of the Ford Motor Company, and our Minority Supplier Development program, it is a great honor to be the first recipient of the Vanguard Award,” said Carlos Mazzorin, Ford Group Vice President, Global Purchasing and South America. “We encourage other companies to solidify their commitments to support minority firms and the communities where they operate.”

“Partnerships with minority and women-owned businesses that provide value-added, competitively priced and high-quality goods and services have benefited our operations,” said William Webb, Philip Morris Chief Operating Officer. “Our commitment to supplier diversity is long-standing and integral to how we do business. Going forward, our goal is to continue to increase our spending levels each year.”

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