Rainbow/PUSH LaSalle Street Project Summit 2001 In Chicago Promotes Stronger Links Between Corporate America And Blacks

Jet, June 11, 2001

Opening the 4th Annual LaSalle Street Project Economic Summit in Chicago, the Rev. Jesse L. Jackson called on Black entrepreneurs to strive for their fair share of economic opportunities and benefits in America's business sector and urged White corporate America to foster Black business growth.

Some 500 Chicago-area business people heard Rev. Jackson and a host of speakers in business, law, economics, education and religion discuss aspects of the conference theme, Connecting Capital, Talent and Markets.

Among the highlights of the two-day conference that was held at the Hyatt Regency Hotel at McCormick Place was the Summit's opening day luncheon titled Dialogue on Diversity, which featured speakers Atty. Johnnie Cochran, his Chicago-based law partner Atty. James Montgomery and economist Dr. Julianne Malveaux.

Cochran, citing how a myriad of class action lawsuits initiated against corporate America due to bias in the workplace is forcing companies to diversify, said, "People don't always do what's right because it's the right thing to do. Sometimes people do things differently because it costs a lot of money. Either way, it stands to benefit African-Americans."

He added, "We still see great disparities in the office; the only difference between you and the person next to you is that they're White."

"African-Americans bring much to the table and will take much away," said Malveaux as she urged budding Black businesses to press corporations for equal access to opportunities. And Atty. Montgomery cited the need for Blacks to patronize their own establishments: "A dollar now remains in the African-American community for fifteen minutes, a very short window of opportunity."

In addition, the morning's opening discussion, New Economy/New Leadership, focused on the importance of corporate leaders tapping opportunities and potential in underserved communities and emerging businesses. Featured speakers were Jamie Dimon, chairman and CEO of Bank One Corporation, and David Vitale, president and CEO of the Chicago Board of Trade.

The second day's morning discussion, Accessing New Opportunities in Small Business in a New Economy, addressed the importance of creating and maintaining a climate that strengthens and promotes minority-owned businesses.

Speakers included Lewis Ting, managing director of organizational development for the Chicago Mercantile Exchange; Ruth Ann Gillis, senior vice president and CFO of Exelon Corp; William Bonaparte, CEO of Bonaparte Corp; Thomas M. Patrick, president of Peoples Energy; and David Malone, chief officer of Procurement for the City of Chicago.

A dozen workshops spanning a broad range of business-related topics were well-attended during the conference. Among them were Corporate Diversity in the Executive Suite, Technology In the Aftermath of 2000, Developing Effective In-House / Outside Counsel Relationships, Community Financial Literacy--1,000 Churches Connected, Partnerships In Education and New Paths to Growth: Joint Ventures and Accessing Equity Capital.

Some 700 people registered for the conference-nearly twice the attendance last year. This year's meeting concluded with a gala on the floor of the Chicago Mercantile Exchange during which Chicago businessman Cirilo McSween, president, Cirilo Inc., and Rudy Mulder, president & CEO of Urban Investment Trust, were honored. The evening's entertainment featured musician Najee.

Rev. Jackson and the Citizenship Education Fund started the LaSalle Street Project (named for Chicago's financial district) in 1998 to challenge corporate America to end the multi-billion-dollar trade deficit with minority businesses and consumers.

Commenting on the success of this Summit, Rev. Jackson told JET: "As we work to expand the marketplace, open closed doors and soar above economic barriers, we are also building bridges with corporate America. Our LaSalle Street Economic Summit has been fruitful in enhancing opportunity, access and capital."