New rule raises stakes for minority shop owners

Podmolik, Mary Ellen
February 2000
Advertising Age;2/28/2000, Vol. 71 Issue 9, p34
Trade Publication
This article reports on the establishment of the certified minority-controlled company category by the National Minority Supplier Development Council in the U.S. on February 1, 2000. Under the new classification, an ethnic agency certified as minority-controlled can sell as much as a 70-percent ownership stake as long as 51 percent of the voting stock, daily management control and the majority of board seats remain in the hands of minorities. Corporations are not required to use minority vendors but public companies that answer to shareholders have faced increasing scrutiny on whether they are awarding business to minority companies.


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