This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Increased Corporate Spend With Local Minority Firms Grows And Sustains Jobs, Report Finds

According to Chicago United's independent analysis, the number of MBEs with revenue ranging from $15 million to $30 million rose to six companies in 2011 from only one in 2009. Those same companies saw their collective employment numbers grow to 596 in 2011 from 280 in 2009.

This progress report provides guidance for corporations as they implement best-in-class supplier diversity programs that optimize their competitiveness, said Gloria Castillo, president and chief executive officer of Chicago United.

"Minority business owners who participated in Five Forward from the beginning have reported increased revenue, capacity expansion and job growth," she said. "Also, it's very important to note that in 2011, the last year that was analyzed, corporations continued to increase their expenditures with the Five Forward MBEs, even though all companies were making adjustments in order to respond to the recession. This allowed the MBEs to remain in business even while they reduced their expenses. This makes them stronger, better partners for corporations."

The Five Forward pilot launched with the faith of 13 corporations that committed to increasing their expenditures with current or new minority suppliers. Today, there are 28 committed corporations and 109 MBEs that participate in the program. Today, those original 13 companies received Chicago United's first-ever James. C. Tyree Visionary Award for their pioneering participation in the program. Tyree, the late chairman and chief executive officer of Mesirow Financial, drove development of the initiative with his vision and passion. Those companies are:
  • Advocate Health Care
  • Ariel Investments LLC
  • BMO Harris Bank N.A.
  • City Colleges of Chicago
  • ComEd, an Exelon Company
  • Ernst and Young LLP
  • Blue Cross Blue Shield / Health Care Service Corporation
  • Loop Capital
  • Macy's
  • McDonald's Corporation
  • Mesirow Financial
  • Rush University Medical Center
  • The University of Chicago/ University of Chicago Medicine

Since its creation in 1968, Chicago United has stood for improving the Chicago area through tighter linkages between large corporations and minority-owned business enterprises. This model for strengthening communities has proven to be successful over the generations, regardless of the leadership changes in the private, public, or civic sectors. This year, Chicago United will celebrate its 45 th anniversary on November 19 at the Hilton Chicago.

For more information on Five Forward, please visit

About Chicago UnitedChicago United is an advocacy organization made up of racially diverse CEOs and executive level management who increase economic opportunity for all races by promoting multiracial leadership development in corporate governance, the leadership pipeline and business partnerships. Through a fierce brand of constructive conversation, Chicago United fosters inclusion and provides an opportunity for senior executives from all racial and ethnic groups to learn from one another, confront and break down racial barriers and achieve shared objectives. For more information please visit

SOURCE Chicago United

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs