March 07, 2011

The mission of the Greater New England Minority Supplier Development Council is to significantly increase business relationships between our corporate members and our certified MBEs. We believe that minority business development is a key component of reducing poverty, unemployment, increasing wealth, and integrating American society. You are receiving this email in order to keep you abreast of developments with the Greater New England Minority Supplier Development Council, Supplier Diversity Issues and Minority Business Development. If you like what you read please share internally and externally.

Thank You For Making the First Capital and Minority Business Capacity Building Summit a Success!

The Capital and Minority Business Capacity Building Summitwas a great success. Here are some of the comments from the attendees and speakers: Picture: Steve Grossman, Treasurer State of Massachusetts, Suzanne Shank, Siebert, Branford & Shank & Co, and Dr. Fred McKinney, President/CEO GNEMSDC "I just wanted to say that you did an EXCEPTIONAL job of putting yesterday's conference together. I have been to many of the "Show Me The Money" type conferences, and I have always left feeling that I have wasted my day being there. Not so yesterday. The information flow, people in attendance, etc. made this conference far and wide superior to previous events that I have attended. Kudos for a job well done!" Deborah Williams, President and CEO Her Game 2 "I want to once again comment and say yesterday's conference was by far the most rewarding conference I have attended in quite some time." Gary Stiffler, President and CEO The Matlet Group "What an impressive event - and turnout - at today's event at the Boston Federal Reserve! On behalf of all my colleagues, we are very grateful for the invitation to attend and especially to have had the opportunity to feature a bank executive on the panel. The room was full of dynamic conversation and positive energy - congratulations on a very successful day!" Alicia Verity, Senior Vice President Bank of America "I really thought the entire day was extraordinary! Lots of inspiring insights and valuable information with plenty of networking opportunities. All I could think of is we need more of this! This is the type of technical assistance that MBE'S and WBE'S can profit from." Eric Benjamin, Diversity Analyst, Office of Diversity and Inclusion, Federal Reserve Bank of Boston. It is our hope that this event will have a lasting effect on the ability of minority business enterprises to access capital markets in significant ways in order to grow their businesses to scale. The event was video taped and we will try to make those available at some time in the near future. We will also be conducting a customer satisfaction survey of the attendees via email. Steve Grossman, Treasurer for Massachusetts used the Summit to announce a major contract made between his office and the MWBE investment company Siebert, Brandford, Shank and Company. This event would not have been a success without the assistance of the GNEMSDC board of directors, the Boston Regional Advisory Committee of the GNEMSDC, the speakers, panelists and sponsors. And most importantly, it would not have been possible without the support of those who gave up their time to attend.

Greater New England Minority Supplier Development Council to Host NMSDC Quarterly Meeting July 19-21 in Boston!

On behalf of the GNEMSDC board of directors, I am extremely pleased to announce that the GNEMSDC will be the host for the NMSDC Quarterly Meeting, July 19-21 in Boston, MA. We have contracted with the Westin Copley to host the event. The NMSDC Quarterly is a meeting that brings together the Presidents and CEOs from the 37 Regional Councils (my colleagues), the chairs of the Regional Councils, the MBE Input Committee chairs from the Regional Councils and the senior staff from the NMSDC, including NMSDC President Joset Wright. The meetings focus on information sharing, best practice discussions, and generally discovering ways that the NMSDC network can continue to improve on the services offered our corporate members and certified MBEs. As the host Council we will be looking to include in the two and half day program at least two events that would be open to GNEMSDC corporate membership and GNEMSDC certified MBEs. I have some thoughts on what would excellent venues for these events and activities that would bring our local stakeholders together with these national leaders of supplier diversity. This is a great opportunity for the Council, our MBEs, our corporate members and quite frankly, the region. If you or your company is interested in helping us put on the best Quarterly meeting ever, please give me a call. We will be putting together a planning committee.

On-Line Registration for Gala Now Open

You can now register for the 2011 GNEMSDC Annual Awards Gala by visiting our Gala website. We encourage you to purchase your seats early. We have already pre-sold 500 tickets. This is one of the largest business dinners in the region. And it is not too late to sponsor or place an ad in the souvenir Gala Program Book. All of this information is available at the site listed above. To download the Invitation and Response Card Click Here.

Testimony Today at the Capitol in Hartford at 11:00 on Changing State Laws on Minority Set Asides and Inclusion

I have to say that I did not think when we decided to go public with our campaign to change state law regarding the State of Connecticut's Minority Set Aside program that two months later we would be discussing a bill to make our conserns state law. We are not at the finish line yet, but at least we are out of the starting gate. I encourage all MBEs who have experience with the State of Connecticut, good or bad, to come and testify about their experiences. I also encourage our corporate members to come and testify about how their companies organize their supplier diversity efforts. I firmly believe the private sector is now far ahead of the public sector when it comes to the best practices in supplier diversity. The hearings start at 11:00 AM and will take place on the second floor of the Legislative Office Building. Sign ups begin at 9:00 AM. I have been invited by State Representative Don Clemons from Bridgeport to make prepared remarks. To read my prepared remarks click here.

GNEMSDC Nominations for Board of Directors Seat Open

Last week we stated in this newsletter that dues paying corporate members of the GNEMSDC are eligible to participate on the GNEMSDC board of directors. In the past week we have received many responses from corporate members expressing interest in serving. And for that I am thankful. I want to share with our readership language from our by-laws that outline the expectations of directors and board companies. All interested companies will be contacted after the March 25 deadline. Requirements of Directors: . Directors are required to serve on at least one committee and attend at least 75 percent of those committee meetings: . Directors are required to attend at least 75 percent of board meetings; . Directors or their companies are required to be an Annual Sponsor; . Directors should recruit at least one new corporate member per year; . Directors should attend GNEMSDC events and activities; . Directors should host a GNEMSDC event or activity every three years; . Directors should be an ambassador for the GNEMSDC.

GNEMSDC Support for MBE Education

One of the most important benefits of being a certified MBE with the GNEMSDC is our educational support. There are a number of programs that we are currently supporting in the region and nationally. The NMSDC's "Advanced Management Education Program" this year is from June 5 through 9 at the Kellogg School of Management in Evanston, IL. The Tuck School of Business "Building a High Performing Minority Business Program" will run from May 1 through May 6. Tuck is located in Hanover, NH. Certified MBEs are encouraged to attend both of these programs. The GNEMSDC will support up to ½ of the cost of tuition for any certified MBE wishing to attend. Click here for the GNEMSDC Scholarship Application. Our goal is for every certified MBE to have gone through at least one of these excellent programs.

Upcoming Events and Activities

Connecticut Development Authority Meeting and Networking Session March 2 Town Hall Meeting on Health Disparities April 19 If you have events and activities that you want to share with our network send us a PDF file at least two weeks before the event. We reserve the right to publish or not publish events and activities.

eNews Sponsor by Housing Authority of the City of Bridgeport

Housing Authority of the City of Bridgeport Request for Proposals (RFP) Annual Audit Services Solicitation Number: 002-FD-11-S Solicitation Date: March 6, 2011 The Housing Authority of the City of Bridgeport (BHA) is requesting proposals from qualified firms to provide annual audit services for our agency, which employs approximately 150-160 full-time employees. As a result of this RFP process, BHA intends to enter into a firm-fixed price contract for two years, with contract services to begin immediately upon selection by the BHA. Proposals must be submitted no later than 4:30 P.M., March 21, 2011 to: BHA, 150 Highland Ave, Bridgeport, CT 06604, Attention Mr. Eugene Sumter, Chief Contracting Officer. Late proposals will not be accepted. A Pre-Proposal Conference is scheduled for March 11, 2011 at 11 a.m., 150 Highland Ave, Bridgeport, CT in the Executive Conference Room. A complete copy of the solicitation, including proposed forms of contract and proposal requirements, can be obtained on Tuesday, March 8, 2011 at the Purchasing Department, 301 Bostwick Ave, Bridgeport, CT., Attn: Ms. Caroline Sanchez, Telephone No. (203) 337-8820.

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And Finally...

The latestEconomic Report of the President has a chapter titled "Supporting America's Small Businesses". This a document I worked on during my time in the Carter White House, and I can say that this topic is not one that is found in most of these annual reports, so this is a welcome change and addition. The chapter points out that America's 27.5 million small businesses, defined as businesses with less than 500 employees, account for over half of non-farm GDP. These small business also accounted for two thirds of all net new employment since 1993. One interesting fact that distinguishes large enterprises from small businesses is the role of banks. Small businesses receive 90 percent of their financing from banks while large businesses receive only 30 percent from banks. That is why this recession hit small businesses harder than large businesses: Bank credit to small businesses dried up during the recession. Commercial and industrial loans declined by 24 percent between June of 2008 and June of 2009. The good news is lending is improving and more credit is becoming available. The lesson for MBEs is that if you reading this e-newsletter and you are still in business, you have survived the worst downturn since the Great Depression. Now it is time to put your running shoes on and get back in the game. But you must realize that the steps you took to survive will not be the same steps you need to thrive. It is time to set your strategy for growth and profitability. I know you can do it. In your service, Dr. Fred