Profit Through Partnership

A Publication of the National Minority Supplier Development Council, Inc.^®

Minority Supplier News

MARCH 2011

Inside this issue:

     The National Minority Supplier Development Council will honor Louis Chênevert, chairman, president and chief executive officer of United Technologies Corporation; David W. Morgan, founder and chief executive officer of D.W. Morgan Company; and J. Leslie Prystup, chief executive officer of Prystup Packaging Products, for their significant long-term achievements in minority business development. The trio will be recognized at the NMSDC Minority Business Leadership Awards Dinner-Dance on Wednesday, May 18th, at the Hilton New York and Towers in New York City.

      

     More than 1,200 guests are expected to attend, including CEOs and executives of Fortune 500 corporations and

minority businesses are relied upon for high quality products and services by growing numbers of corporations.”

 

     Louis Chênevert is chairman, president and chief executive officer of United Technologies Corporation (UTC).  The company’s products include Carrier heating and air conditioning; Hamilton Sundstrand aerospace systems and industrial products; Otis elevators and escalators; Pratt & Whitney aircraft engines; Sikorsky helicopters; UTC Fire and Security systems and UTC Power fuel cells.  UTC employs more than 206,000 people in 70 locations worldwide, and spent $345 million with Asian, Black,

minority business owners from across the nation. 

    “This year’s honorees have demonstrated a solid commitment to minority business development for many, many years,” said NMSDC President Joset B. Wright. “The strength, innovation and resilience of

NMSDC TO HONOR THREE EXECUTIVES WITH MINORITY BUSINESS LEADERSHIP AWARD

     From 2002 to 2007, the number of Black-owned businesses increased by 60.5 percent to 1.9 million,

more than triple the national rate of 18.0 percent, according to the U.S. Census Bureau's Survey of Business Owners. Over the same period, receipts generated by

BLACK-OWNED BUSINESSES INCREASE

AT TRIPLE THE NATIONAL RATE

Black-owned businesses increased 55.1 percent to $137.5 billion.

 

     “Black-owned businesses continued to be one of the fastest growing segments of our economy, showing rapid growth in both the number of businesses and total sales

during this time period,” said

Census Bureau Deputy Director Thomas Mesenbourg.

 

     These new data come from the Survey of Business Owners: Black-Owned Businesses: 2007. The survey provides detailed information

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