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TheStreet Open House

OSL Holdings Inc. New Business Unit, OSL Diversity Marketplace, Inc., Targets Multibillion Dollar Opportunity

NEW YORK, Feb. 3, 2012 /PRNewswire/ -- OSL Holdings Inc. (OTCBB: OSLH) new division OSL Diversity Marketplace stated goal is to provide business opportunities to diverse business owners throughout the United States. "We are going to realize a decades long dream to create real business transactions between corporations and diversity suppliers in a meaningful way that aims to deliver the goals of more than doubling current spending through technology, creativity and a true understanding of the issues that are preventing business today."

"There have been many organizations attempting to help this process.  To make the dream a reality today, we first must connect buyers and sellers," says Bob Rothenberg, President of OSLH. "We believe corporations and suppliers are smart and passionate, but they're also overmatched by the current environment.  They need a partner whose technology and creativity literally means business— a valuable solution that impacts the bottom line." 

Recently AT&T was recognized for its supplier diversity efforts, AT&T spent $9.2 billion with diverse suppliers in 2010 representing 18.8 percent of the company's total spend, while its diversity goal was 21.5 percent of it's spend with diverse suppliers.

Commenting on this recent news, Michael Jones-Bey stated, "I commend AT&T for achieving a $9.2 billion annual spend with diverse suppliers. They are leading a wave of corporations that are expanding opportunities to companies that have traditionally been out of our economic mainstream. I believe that OSL Diversity Marketplace can harness this wave by partnering with Fortune 500 companies, diverse suppliers, and supplier diversity organizations. The opportunity here is phenomenal. When you consider that Diversity Magazine estimates that the top 50 corporations have made a commitment to spend 20% with diverse suppliers and are currently spending less than 8.5%, it is exciting to think about how we are building a solution to bridge this gap which is in the tens of billions of dollars."

"OSL Diversity Marketplace, Inc. is creating a virtual commerce ecosystem powered by cutting edge technology that will allow for business to take place with ease, online while ensuring transparency and closed loop tracking," adds Rothenberg. "We plan to leverage relationships with customers of our related business unit Corporate Diversity Solutions, Inc.  that are committed to supplier diversity such as Verizon, Pep Boys, and NY Times to bring this new model to Corporate America so that the Top 50 corporations can meet their supplier diversity goals."

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