MGM MIRAGE Reports Continuing Momentum for Diversity Initiative
22 Maio 2008 - 9:13PM
PR Newswire (US)
Company outlines significant gains in purchasing and construction
at Annual Diversity Report & Presentation LAS VEGAS, May 22
/PRNewswire-FirstCall/ -- MGM MIRAGE today announced that its
Diversity Initiative continues to gain momentum in key areas such
as human resources, strategic sourcing, construction and corporate
philanthropy. (Photo:
http://www.newscom.com/cgi-bin/prnh/20080522/LATH107-a) (Photo:
http://www.newscom.com/cgi-bin/prnh/20080522/LATH107-b) (Photo:
http://www.newscom.com/cgi-bin/prnh/20080522/LATH107-c) (Photo:
http://www.newscom.com/cgi-bin/prnh/20080522/LATH107-d) Since 2002,
MGM MIRAGE reports its diversity performance annually to
demonstrate transparency and accountability in this area. This
year's diversity report focuses on employee initiatives that are
key to creating and sustaining a culture that values diversity.
"The deepest value -- and the deepest impact -- that our Diversity
Initiative may have on our business lies in the role it is playing
in fostering a work culture of peak performance, teamwork and
innovation," said MGM MIRAGE Chairman and CEO Terry Lanni. The
company made significant strides in leveraging diversity to drive
business results. The company reported significant increases in
important metrics such as purchasing and construction spend
associated with diversity vendors. Specifically, in purchasing the
company experienced a more than 65% increase in spending with
minority, women and disadvantaged business enterprises (MWDBEs). In
construction, due to progress of its $9.2 billion CityCenter
project, the company also reported a double-digit percentage
increase in spending with MWDBEs. "Diversity is a significant
driver of business success and enhances the ability of our company
to compete in today's global economy," said Lanni. "The data we
present today show that, once again, we have achieved sizeable
gains in the metrics we monitor to assess progress in those areas."
In 2007, MGM MIRAGE was recognized locally and nationally for its
efforts in diversity, including being awarded the "Supplier
Diversity Program of the Year Award" by the Nevada Minority
Business Council, named one of the "Top 50 Companies for Hispanics"
by Hispanic Business Magazine, recognized as one of the "40 Best
Companies for Diversity" by Black Enterprise Magazine, and being
named among the "Top 50 Companies for Diversity" by DiversityInc
Magazine. More than 1,500 employees, suppliers, contractors and
community and business leaders from throughout the U.S. gathered in
Las Vegas to learn about the company's 2007 diversity results at
the Annual Diversity Report & Presentation. Summarized below
are highlights of the report: Human Resources The MGM MIRAGE
domestic workforce continues to grow in its diversity. In 2007, the
company's minority employee representation totaled more than half
of the workforce at 60.8 percent. Women comprised just over half of
employees at 50.9 percent. By ethnicity, the workforce was
comprised of: 29.3 percent Hispanic; 14.6 percent Asian; 12.4
percent African American; and 0.5 percent Native American. As for
minority managers and above: 11.8 percent were Hispanic; 8.3
percent were Asian; 10.0 percent were African American; and 0.5
percent were Native American. Additionally, a notable milestone in
2007 was the graduation of the company's 5,000th employee from
Diversity Champion Training, the company's in- house leadership
training program. Diversity Champions are driving a culture of high
performance by initiating numerous diversity-related programs and
activities at each of the company's properties. Purchasing MGM
MIRAGE reports success in broadening the base of MWDBEs with which
it works. In 2007, the number of registered MWDBEs in the MGM
MIRAGE Supplier Diversity program expanded significantly. For
purchasing in 2007, the company spent $1.7 billion in biddable
goods and services. Of this amount, a total of $254 million in
biddable goods and services was spent with minority enterprises.
This reflects an increase of $104 million and 69.3 percent from
$150 million in 2006. Spending was distributed as follows with
respect to the ethnicity of minority-owned enterprises: 30.6
percent was spent with African American enterprises; 27.8 percent
was spent with Asian enterprises; 26.9 percent was spent with
Hispanic-owned enterprises; and 14.8 percent was spent with Native
American enterprises. The company also reports its spend with
women-owned businesses. In 2007, a total of $101 million in
biddable goods and services was spent with women- owned companies.
This reflects an increase of $67 million from $34 million in 2006.
Construction MGM MIRAGE's outreach spans the nation to ensure that
MWDBEs have opportunities to contract with its myriad of
development and capital improvement projects. As a result, in 2007,
of the total construction expenditures which totaled $2.1 billion,
$362 million was spent with MWDBEs and $73 million was spent with
women-owned businesses. Comparatively, in 2006, $276 million was
spent with MWDBEs and $71 million was spent with women- owned
businesses. By ethnicity of minority-owned businesses the amounts
spent equaled: 55.7 percent spent with African American businesses;
24.1 percent spent with Hispanic-owned firms; 12.2 percent spent
with Asian-owned companies; and 8.0 percent spent with Native
American-owned firms. Philanthropy MGM MIRAGE takes a leadership
role in corporate citizenship through its corporate philanthropy
and Voice Foundation, the company's nonprofit, philanthropic entity
that collects and disburses employee donations. In 2007, corporate
charitable diversity-related contributions totaled $3.3 million.
Through the Voice Foundation, grants to nonprofits serving diverse
communities and organizations totaled $2.5 million or 84 percent of
total grants awarded. Since its inception, the Voice Foundation has
dispersed more than $24 million in employee donations to charities
in places where MGM MIRAGE does business. About MGM MIRAGE: MGM
MIRAGE (NYSE:MGM), one of the world's leading and most respected
development companies with significant holdings in gaming,
hospitality and entertainment, owns and operates 17 properties
located in Nevada, Mississippi and Michigan, and has 50%
investments in four other properties in Nevada, New Jersey,
Illinois and Macau. MGM MIRAGE is developing major casino and non-
casino resorts, separately and with partners in Las Vegas, Atlantic
City, the People's Republic of China and Abu Dhabi, U.A.E. MGM
MIRAGE supports responsible gaming and has implemented the American
Gaming Association's Code of Conduct for Responsible Gaming at its
properties. MGM MIRAGE has received numerous awards and
recognitions for its industry-leading Diversity Initiative and its
community philanthropy programs. For more information about MGM
MIRAGE, please visit the company's website at
http://www.mgmmirage.com/. Forward-Looking Statements This news
release contains forward-looking statements within the meaning of
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, including statements about future financial and
operating results. These statements are based on management's
current expectations and beliefs and are subject to a number of
risks, uncertainties and assumptions that could cause actual
results to differ materially from those described in the
forward-looking statements. The pertinent risk factors for each
company can be found in its Form 10-K on file with the SEC.
http://www.newscom.com/cgi-bin/prnh/20080522/LATH107-a
http://www.newscom.com/cgi-bin/prnh/20080522/LATH107-b
http://www.newscom.com/cgi-bin/prnh/20080522/LATH107-c
http://www.newscom.com/cgi-bin/prnh/20080522/LATH107-d
http://photoarchive.ap.org/ DATASOURCE: MGM MIRAGE CONTACT: Debra
Nelson, Vice President - Corporate Diversity, Communications &
Community Affairs of MGM MIRAGE, +1-702-650-7421, ; or Tracy
Tramel, Media Relations of The Caraway Group, +1-310-482-1717, ,
for MGM MIRAGE Web site: http://www.mgmmirage.com/
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