Mabuhay Alliance jointly with the Philippine American Chamber of Commerce of Greater Chicago (PACCGC) and the Federation of Philippine American Chambers of Commerce (FPACC) will be holding a unique national conference in Chicago designed specifically for future business opportunities for the Philippine and other Asian American communities. The conference will begin at 1:00 p.m. and end at 4:00 p.m. and will be held at the Wyndham O’Hare Hotel at 6810 North Mannheim Road, Rosemont, Illinois 60018. Admission to this portion of the conference will be free. There will also be a gala dinner at 6:30 p.m. at a cost of $65.00.
The conference is entitled, “Asian American Small Business Opportunities in the Age of a New Financial and Internet Paradigm”. A number of financial institutions and Federal banking regulators will be participating. Sandra Thompson of the FDIC has been confirmed as the keynote speaker for the dinner gala and is expected to also participate during the afternoon panel on business opportunities. Similar participation is confirmed by the Federal Reserve and the Office of Thrift Supervision. It is also expected that a number of major financial institutions both national and local will be participating, as well as a number of corporations leading the internet revolution, such as AT&T and Verizon. Please confirm with Cindy Flores for your admission to the afternoon panel and seminar. Attendance is limited to 500. Please confirm for dinner which is limited to 300.
Background: The Filipino American business community receives less than one dollar per fifty thousand dollars in federal contracts and generally less than one dollar per every fifty thousand dollars expended by Fortune 500 corporations. Mabuhay Alliance has led the effort in California to help increase this amount by at least ten times. For example, many companies doing business in California that have been the subject of Mabuhay’s efforts to provide 5-10% of their contracts to Asian Americans.
With rare exceptions, Filipino Americans are not at the most senior management levels at Fortune 500 companies. And of the more than 6,000 members of the board at Fortune 500 corporations only an invisible two are Filipino American. Mabuhay Alliance is attempting to change this nationally, and will have a special focus on Illinois based corporations
Studies have demonstrated that Filipino Americans have received less than one dollar for every one thousand dollars in philanthropy by foundations and many corporations. But some corporations, such as Verizon and AT&T provide a large percentage of their philanthropy to Filipino American nonprofits.
Mabuhay is attempting in its efforts with the Federal Communications Commission, the U.S. Department of Justice’s antitrust and civil rights divisions, the FTC and the FDIC (which regulates over 6,000 banks) to require diversity in business opportunities, and philanthropy. This model has been successfully implemented in California by Mabuhay Alliance.