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Target Market News has introduced Black Business Chicago, a new monthly which will spotlight news and features on Chicago's African-American businesses, corporate executives and local economic issues. The publication will also be supplemented by a Web site, blackbusinesschicago.com, that will provide updated coverage of relevant business news on a daily and weekly basis between issues of the monthly print publication. Click for more ____________________________________

Buying Power report: Blacks spend as economy grows
New 16th edition shows $507 bil in spending



The finding comes from the 16th annual edition of "The Buying Power of Black America" report. In 2009, black households spent an estimated $507 billion in 27 product and services categories. ...

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Ford announces new record in supplier diversity with 34% increase

(May 30, 2012) Ford Motor Company said it set a new company record in the U.S. last year by sourcing more than $5 billion with minority-owned companies and $1 billion with women-owned firms, reinforcing its position as a strong supporter of supplier diversity.

For the third consecutive year, Ford exceeded its goal of sourcing 10 percent of its U.S. production and nonproduction purchases with diverse suppliers.

In 2011, Ford purchased $5.08 billion in goods and services from its tier-one minority-owned businesses (MBEs), a 34 percent increase from $3.8 billion in 2010. Ford purchased $1.06 billion from its tier-one women-owned businesses (WBEs), an increase of 22 percent from $866 million in 2010. The increases reflect higher vehicle production and incremental new business of $661 million for existing diverse suppliers.

Ford's commitment to Go Further extends to its entire supply chain network. Ford's tier-one suppliers spent $1.66 billion with minority-owned businesses in 2011, up from $1.29 billion in 2010.

"Our commitment to minority suppliers remains a top priority," said Tony Brown, Ford group vice president for Global Purchasing. "At Ford, we believe a diverse supply base provides an opportunity to gain a competitive advantage in a constantly changing multicultural global economy."

Examples of diverse suppliers that were sourced work from Ford last year include:

Grupo Antolin Wayne, an African-American joint venture in Canton, Mich., which produces sunroof headliners for the Ford Focus

Ewie Co. Inc., an Asian Indian-owned company in Ann Arbor, Mich., that expanded its cutting tools and abrasives business globally to support Ford's growth overseas

Piston Automotive Group, an African-American-owned supplier in Redford, Mich., which was selected to sell IT services as a manufacturer

Systrand Manufacturing, a Brownstown, Mich.-based company that is producing machined parts for the next generation of Ford's hybrid transmission that will be used in the new Ford Fusion Hybrid and C-MAX Energi plug-in hybrid.


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