Toyota – a respectable company, for more than just cars. Check this out…

GlobeNewswire

WASHINGTON, Aug. 4, 2014 (GLOBE NEWSWIRE) — The United States Hispanic Chamber of Commerce (USHCC) applauds Toyota for its ongoing commitment to supplier diversity. Through its continued investments with Hispanic Business Enterprises, Toyota has advanced to the highest level of the USHCC’s Million Dollar Club rankings (over $500 million) in 2013.

The Million Dollar Club was created to recognize and honor corporations that have demonstrated an ever-evolving commitment to supplier diversity. The honorees range from companies conducting $25 million, to more than $500 million in business with Hispanic-owned firms each year.

“The USHCC is proud to see Toyota strengthen the bond between corporate America and Hispanic business. Toyota has shown a true commitment to the Hispanic business community; their procurement strategies are creating jobs, spurring economic development, and bolstering opportunities in communities throughout the nation,” said USHCC President & CEO Javier Palomarez. “Toyota understands that supplier diversity is not only the right thing to do, but more importantly, it is a profitable business practice that brings them closer to their customers, investors and employees. It’s because of these investments that Toyota continues to stay highly competitive on a global scale.”

Last year, Mr. Palomarez was invited to deliver the keynote address at Toyota’s Opportunity Exchange, one of the nation’s largest minority business gatherings with 1,700 top-tier suppliers and minority business owners. Toyota has been the number one car brand among Hispanics for ten consecutive years, due in part to its robust supplier diversity programs.

“As a longstanding partner of Toyota, the USHCC has been privileged to witness the benefits of its steadfast commitment to supplier diversity. Year after year, Toyota recommits itself to investing in America’s bourgeoning Hispanic business enterprises. The beneficiary of these collaborations is more than any individual community, but rather our nation as a whole,” said USHCC Chairman Marc Rodriguez. “We look forward to expanding these opportunities in partnership with Toyota for years to come.”

PG&E Continues Commitment to Small Business Suppliers

SAN FRANCISCO, July 11, 2014 /PRNewswire/ — Pacific Gas and Electric Company (PG&E) has pledged to help small business suppliers grow by taking active steps to speed up payments for goods and services and promote better access to financing. The company’s commitment came today as it signed on to a new White House effort known as the Small Business Supplier Financing Initiative. President Barack Obama announced the initiative this morning at a White House meeting which included PG&E Senior Vice President and Chief Customer Officer Helen Burt.

Companies participating in the Small Business Supplier Financing Initiative are committing to help small businesses succeed in three ways:

  1. Providing a Working Capital Solution to Small Business Suppliers
    Companies will take active steps to lower the working capital cost of small business suppliers by paying them faster to reduce their capital needs or facilitating access to financing at a lower cost.
  2. Sharing Best Practices
    Companies will highlight tangible outcomes from their own efforts, provide visibility into their actions and promote key learnings and results.
  3. Implementing a Win-Win Solution
    Companies will carry out this pledge while minimizing new administrative or operational burdens.

“We rely on our partnerships with small businesses to help us provide safe, reliable and affordable energy for our customers,” said PG&E Chairman and CEO Tony Earley. “Small businesses are the economic engines of our service area. Their growth not only helps us be successful, but also creates more local employment opportunities. We’re excited to commit our support for President Obama’s Small Business Supplier Financing Initiative.”

The commitment is the latest step in PG&E’s ongoing efforts to help small businesses and local economies thrive in its service area. Over the past year, the company has created a special economic development rate aimed at helping businesses stay local, continued to provide assistance through its extensive energy efficiency programs and achieved record results in its supplier diversity spending, much of which goes to small and mid-size firms.

“The backbone of our supplier diversity program has been our relationships with small business suppliers,” said PG&E Senior Vice President of Safety and Shared Services Desmond Bell. “Our commitment to promoting a diverse and robust supply chain has made our program one of best in the country. These partnerships have helped us achieve our goals. President Obama’s Small Business Supplier Financing Initiative will help strengthen our supply chain and invigorate the economy.”

An example of a PG&E supplier that stands to benefit from the utility’s new commitment is Agile Sourcing Partners, Inc. – a Southern California-based enterprise with offices in the San Francisco suburb of Benicia. Agile supports utilities, suppliers and manufacturers in the gas and electric industry by providing sourcing and material supply solutions. Agile was founded in 2006 by a Hispanic woman.

“PG&E has understood paying smaller suppliers quickly allows them to operate more efficiently and deliver the best value and service,” said Agile Founder and CEO Maria Bastian Thompson, who accompanied Burt to the White House. “In Agile’s first engagement with PG&E, they extended 15-day payment terms to ensure there was no cash gap with our sub-suppliers. As a result, we hired an administrator to manage the engagement and were able to offer similar payment terms to our 70 sub-suppliers, most of whom are small businesses themselves that also greatly need quick payment for their services.

“The Small Business Supplier Financing Initiative will allow small enterprises to work more autonomously and rely less on traditional mechanisms such as bank loans and lines of credit,” added Thompson. “Alleviating some of the challenges and expenses of gaining access to capital allows small businesses to better serve their large customers.”

PG&E’s commitment to supplier diversity has resulted in an 11-year trend of consecutive year-over-year growth in diverse spending. In 2013, PG&E spent $2.3 billion with diverse suppliers, accounting for 42.1 percent of its total procurement budget and an increase of $265.2 million from 2012.