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Tracking Minority Contracting

All told, the agencies allocated nearly $700 million in providing new contracts to minority and women firms in 2011 out of a total of about $3.8 billion spent with all contractors. The FDIC by far invested the most at $416.5 million, representing 29.8% of the $1.4 billion total contracts awarded. The U.S. Department of the Treasury spent $50 million with minority-owned businesses, 20% of total contracts with more than half awarded to black-owned firms and $26 million with women-owned firms, in fiscal year 2011. The Office of the Comptroller of the Currency dispensed more than a combined $66 million to both groups, or 38.4% of OCC’s total spend.

Backtalk with Daymond John

Businessman and self-made millionaire Daymond John is best known for his ’90s clothing line FUBU—“For Us, By Us.” Most recently, the New York City native appeared on ABC’s popular reality series Shark Tank, where he listened to investment proposals from budding entrepreneurs. The “Godfather of Urban Fashion,” who offers his marketing expertise to some of the world’s leading companies as well as celebrity and business figures is also the author of The Brand Within (Display of Power Publishing; $14.99) and Display of Power (Thomas Nelson; $24.99). John joined black enterprise in Atlanta at this year’s Entrepreneur’s Conference and provided attendees with tips on the importance of branding.

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