[Congressional Record Volume 140, Number 115 (Tuesday, August 16, 1994)]
[Extensions of Remarks]
[Page E]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: August 16, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
         SALUTE TO WALT DISNEY'S SUPPORT FOR MINORITY BUSINESS

                                 ______


                          HON. EDOLPHUS TOWNS

                              of new york

                    in the house of representatives

                        Tuesday, August 16, 1994

  Mr. TOWNS. Mr. Speaker, we are all aware that the spark which ignites 
our economy is small business. Historically, minority firms have not 
been recipients of the lucrative contracts available with large 
companies. Walt Disney has been a pioneer in developing a program 
designed to increase opportunities for minority owned businesses, and 
to maximize the volume of goods and services purchased from those 
businesses. I want to advise my colleagues of the commendable strides 
accomplished by the Walt Disney Co. in the area of promoting and 
utilizing services and products generated by minority firms.
  The driving force behind Disney's minority program is Disney Chairman 
Michael Eisner. His fervent support of the program has been infectious, 
and each division within the company competes with other divisions to 
determine which one has generated the best results based upon 
achievement goals. To put this point in perspective, in 1983 the Disney 
Co. did less than $1 million in business with minority-owned firms in 
this country. In 1994 that amount will grow to $100 million. The 
results generated by the Disney Co. warrant recognition. Disney's 
success should serve as a model and catalyst for other companies that 
could benefit from doing business with minority-owned companies.
  Recently, a trade publication, The Minority Times & Small Business 
News highlighted Disney's support of minority- and women-owned 
businesses. Although the article focused on Disney's success, the 
underlying message was, a lot more needs to be done by the corporate 
community. African-Americans comprise 12 percent of our Nation's 
population, however, minority businesses represent only 9 percent of 
total business, 4 percent of gross receipts, and 1 to 2 percent of 
total corporate purchases. The National Minority Supplier Development 
Council [NMSDC] has more than 15,000 certified minority businesses 
which currently handle major contracts for corporations. The Disney Co. 
has worked closely with NMSDC to maintain its minority business 
profile.
  I am happy to advise my House colleagues that the company that has 
entertained hundreds of millions of movie fans and theme park 
attendees, is engaged in socially responsible and mutually beneficial 
business contracts with minority firms. I hope other companies will 
follow Disney's lead and contribute to an enhanced national and 
minority buisness economy.

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