GM Named Company of The Year

[nsap]

DETROIT - The Michigan Minority Business Development Council (MMBDC) named General Motors its Corporation of the Year during a ceremony at Cobo Center in Detroit on Tuesday. Oct. 5.

The honor is the latest bestowed upon GM for the company's efforts to promote supplier diversity in the automotive industry. Last month, GM received Corporation of the Year honors from the Tuck School of Business at Dartmouth College, and in April, GM received Corporation of the Year honors from the Native American Business Alliance.

E. Delbert Gray, president and CEO of the MMBDC, said, "Since the MMBDC was founded in 1979, the automotive industry has always taken a leadership position in driving supplier diversity in their companies and in our communities. We congratulate General Motors on its recognition as the 2004 Corporation of the Year in the OEM Category."

"The MMBDC honor is exceptional because GM is being recognized as a leader in mentoring and growing minority suppliers," said Bo Andersson, GM Vice President of Worldwide Purchasing, Production Control and Logistics. Andersson served as chairman of the MMBDC in 2002 and 2003.

The MMBDC honor was presented to GM during the Council's annual dinner at Cobo Center in Detroit. GM was praised for having an outstanding supplier diversity procurement program, which includes mentoring minority suppliers and increasing purchases from minority suppliers.

GM was the first in the automotive industry to establish a supplier diversity program in 1968. Since that time, GM has been a leader in minority supplier development, purchasing more than $44 billion from Tier 1 and Tier 2 minority suppliers. In 2003, purchases amounted to $7.2 billion from Tier 1 and Tier 2 minority suppliers, a record for any automaker.

"For GM, being the best means having a minority supply base that can perform well, even in a challenging market," Andersson said.

GM currently mentors 50 minority suppliers, providing leadership direction and resources to grow the suppliers' strategic capabilities. In addition, minority suppliers are able to receive financing from Motor Enterprises, Inc., a GM subsidiary that was formed in 1970.

"The GM Supplier Diversity team has worked hard to ensure that minority suppliers are provided opportunities to do business with GM," said V. Diane Freeman, senior manager of GM's Supplier Diversity Program. "The team is focused on supporting minority growth throughout the supply chain."

To reinforce the importance of supplier diversity, GM requires its Tier 1 suppliers to source a minimum of 8 percent of its Tier 2 GM business to certified minority companies.

[surferdude00711]

oh.







thats good.

[jro4566]

This calls for some champagne! Cheers!

[SUPERBADD75]

i thought this was going to be worthwhile until i read that it's some Michigan thing.... big freakin' deal. let me know when it's a global award... or at least North America.... Michigan? who gives a crap? besides, i'm rather pissed at GM today...

[4runner]

TAKE THAT, TOYOTA!!!!

[Swahili]

More recognition for GM. They deserve it, they've really pulled things together lately. Sure they have a ways to go yet, but they're on the right track.

[gm_fanatic922]

Good for GM! Congrats!

[tripowergto]

Clearly this can't be possible, it's completely obvious that Toyonda wins this award with certainty every year as they are THE diversive minority (can you smell the sarcasm?) :mf_boff:

[ibechip]

Uh yay?

[paul3230]

Excuse me, but I take offense to some of the posts on this board. Everyone is acting as if this isn't some big news and turning their noses up at it. If this was freaking Toyota or Honda we were talking about, everone would be talking about how GM loses out again and how Honda and Toyota are making a mark. Can we please not be so ignorant as to think that something like this doesn't a difference, because it does!

[R.E Sanchez]

Good for you GM...now get back to work!! :P

[crazywop112]

Good for GM.

[rickhunter1max]

Get Back to work on the Camaro :angry: