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DIVERSITY BRIEFS CINGULAR WIRELESS NAMED TO DIVERSITYINC. TOP 50 LIST Company Cited for Commitment to Diversity Cingular Wireless, the nation’s largest wireless communications company, is among the Top 50 corporations in the U.S. with a recognizable commitment to diversity, according to recently announced rankings by DiversityInc. Magazine, a leading national publication that focuses on workplace diversity and inclusion. “Cingular is proud of its successes in the areas of diversity and inclusion, and we are honored to be recognized for an achievement that we consider so integral to our business,” says Bob Reed, Vice President - Diversity at Cingular. “We will continue to value the uniqueness and similarities of the Cingular family of employees and customers.” This year, Cingular was also named one of the “50 best places to work” for Hispanic women by LATINA Style, a national women’s magazine. In addition, the company was selected as a “2005 Employer of Choice” by the Minority Corporate Counsel Association (MCCA) for its commitment to creating and maintaining an inclusive corporate legal department. DiversityInc. says the Top 50 companies hire more than 40 percent more people of color than all U.S. companies; they have five times more diverse suppliers than all U.S. businesses; and, they tend to recruit and retain a larger set of diverse employees. Companies are selected on the basis of responses to more than 200 questions about CEO level commitment, human capital,

corporate communications and supplier diversity. More than 203 companies participated in the by-invitation survey.

About Cingular Wireless Cingular Wireless is the largest wireless carrier in the United States, serving more than 50 million customers. Cingular, a joint venture between SBC Communications (NYSE: SBC) and BellSouth (NYSE: BLS), has the largest digital voice and data network in the nation. Cingular is the only U.S. wireless carrier to offer Rollover(SM), the wireless plan that lets customers keep their unused monthly minutes. Details of the company are available at www.cingular.com.

First Florida Census Reports Women Hold Few Board Seats & Executive Posts in State’s Largest Public Companies, According to Women Executive Leadership Women hold 96, or 7.9 percent, of the 1,213 corporate board seats with Florida’s 150 largest public companies, according to the results of a study released today by Women Executive Leadership (WEL). The 2004 Florida Census of Women Directors and Executive Officers, which WEL conducted in conjunction with the University


DIVERSITY BRIEFS of Miami, reviews the composition of directors and executive officers with the state’s 150 largest public companies. WEL, whose mission is to increase the number of women serving on corporate boards, plans to use the findings to raise awareness of gender diversity in the boardroom and facilitate a dialogue about the positive impact women have on corporate governance and companies’ financial success. “Although more women are rising to seniorlevel positions in corporate America, they continue to be underrepresented in the boardroom,” said Cindy Kushner, president of WEL. “The results of this first Florida census establish an important baseline to understand how Florida companies stack up against national averages. We believe that by publishing these statistics, recognizing those companies that have a commitment to gender diversity and connecting qualified women to board opportunities, we can positively impact the future of companies in Florida.”

The study’s findings show: • Among those cities and states that have done similar research, Florida ranks second to lowest in the percentage of board seats held by women. • Florida’s 150 largest public companies have as many as 15 or as few as four directors. • Seventy-seven, or 52.4 percent, of these companies have no women on their boards. • Fifty-two, or 35.4 percent, of these companies have one woman on their board. • Eighteen, or 12.2 percent, of these companies have two or more women on their boards.

• Only 20 percent of the companies in the healthcare sector have a woman on their boards. This is the smallest representation in any sector. • Women hold 15.1 percent of board seats in the retail/restaurant sector - the most in any sector.

About the Census In conjunction with WEL, research for the 2004 Florida Census of Women Directors and Executive Officers was gathered and analyzed by Kay Tatum, Ph.D., CPA, University of Miami’s Chair and Associate Professor of Accounting. Additional assistance was provided by Ya-wen Yang, Ph.D., CPA, Assistant Professor of Accounting, and three graduate business students. Dr. Tatum joined the University of Miami’s Department of Accounting in 1986 after receiving her doctorate from Texas Tech University. Her primary teaching and research interests are auditing and corporate governance. She is a member of the Public Company Accounting Oversight Board’s Standing Advisory Group and is a contributing author to the book Audit Committees: Guide for Directors, Management & Consultants.

About WEL Women Executive Leadership (WEL) is a not-for-profit organization whose mission is to increase the number of women serving on corporate boards. With a membership that reflects Florida’s diverse businesses, WEL recognizes and connects accomplished women and further expands their influence within their respective business communities. Through its quarterly meetings, WEL provides a forum for executive women to unite, leverage best practices and address the challenges and opportunities faced by C-level executives and corporate board members of Fortune 1000 companies. WEL, whose primary sponsors are KPMG and Holland &


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Knight, seeks to raise awareness of gender diversity on corporate boards and collaborate in the director-selection process. For more information or to view the 2004 Florida Census of Women Directors and Executive Officers, which WEL conducted in conjunction with the University of Miami, visit www.womenexecutiveleadership.com.

Hispanic women are a rapidly growing segment of the U.S. population, with especially large representation in younger age groups. By 2050, Hispanics are forecasted to comprise nearly one quarter of U.S. women, according to the HispanTelligence(R) research report “Hispanic Women in Profile 2005� released in June by Hispanic Business Inc.

Key Findings Reveal the Impact of Hispanic Women on the U.S. Economy

The data-rich report also reveals that native-born Hispanic women have higher educational attainment and average earnings than do foreign-born Hispanics, thereby narrowing the differences between Hispanics and national averages.

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While only 2.9 percent of Hispanic women have advanced degrees, the ones that do have higher average annual earnings

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DIVERSITY BRIEFS ($58,623) than all women with advanced degrees ($50,756). “From 1979 to 2002, Hispanic women gained a 10 percent increase in real earnings, increasing median annual earnings from $18,720 to $20,592. The wage gap, the difference in earnings between men and women, is smaller among Hispanics than whites. Hispanic women earn 88 percent of Hispanic men‚s earnings, while white women earn only 78 percent of white men‚s earnings,” stated the author of the study, Andrea Lehman, HispanTelligence(R) Business Economist. Another interesting finding described in the report is that the number of firms owned by Hispanic women has increased by 63.9 percent between 1997 and 2004. The number has passed the half million mark with 553,618 Hispanic women-owned businesses in 2004. What do these key findings mean for the future of Hispanic women? Hispanic women will have an increasing impact on the face of the U.S. economy that cannot be ignored ˆ especially in entrepreneurial and smallbusiness ventures. The HispanTelligence(R) “Hispanic Women in Profile 2005” report also provides: • Further demographic data on education, population, and other comparative trends • Comparison of native-born and foreign-born Hispanic women • Description of Hispanic women by area of origin • Labor force participation of Hispanic women with children • Breakdown of employment by industry

• Minority women-owned firms • Concentrations by industry of Hispanic women-owned businesses To purchase a full copy of this or any of our other informative HispanTelligence(R) reports, please visit http://www.hispanicbusiness.com/ research/ or our research channel at http:// www.hispanicbusiness.com To order by phone, please call their Research Department at (805) 964-4554 ext. 605.

Magnum Staffing Named 10th Largest WomanOwned Business In Houston Houston Staffing Company Makes Business Journal’s Prestigious List Magnum Staffing recently was named 10th largest woman-owned business in Houston by the Houston Business Journal, jumping from the number 16 spot in 2003. This prestigious list names only top-grossing businesses owned and operated by women in Houston. “We’ve continued to grow considerably by never taking any size of business for granted,” said Caroline Brown, president and CEO of Magnum Staffing. “My true measure of success is when referral clients outpace solicited clients.” The Houston Business Journal rated temporary placement firms based on the number of employees placed in the previous year. The successful companies listed in the issue have made significant contributions to their local economy through placing workers

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in jobs to meet the demands of area businesses.

Enterprise National Council (WBENC) in Washington, D.C.

“We have a lot of work to do, but we are proud of our current corporate resume,” Brown said. “The challenge is to continue making sure our clients and associates believe they’ve made a great business decision in choosing Magnum and are committed for the long term. We certainly are.”

The WBENC is the nation’s largest and most widely recognized third-party certifier of women-owned businesses. LaPorta is one of 14 Women-owned Business Stars honored this year, representing one of the 14 partner organizations outlined in the WBENC’s structure. The “Business Stars” are selected based on their leadership in the local community, their unique ability to inspire other women business owners, and their success in directing a WBENC-certified business.

Established in 1996, Magnum Staffing provides personnel in the areas of warehousing, manufacturing, construction and office/clerical. An active voice in the Texas Association of Staffing, Magnum Staffing has been ranked nationally in America’s Hottest 100 Companies by Entrepreneur Magazine, Top 10 Staffing Firms and Top 10 WomanOwned Businesses in Houston by the Houston Business Journal, Houston’s 100 Fastest-Growing Companies by the University of Houston Business Center and the Best Place to Work in Houston by the Houston Human Resource Management Association. For more information about Magnum Staffing, please call (713)658-0068 or visit www.magnumstaffing.com.

MERCEDES LAPORTA WINS PRESTIGIOUS WOMEN’S BUSINESS AWARD Successful businesswoman receives national recognition Mercedes LaPorta, president of Mercedes Electric Supply, Inc., has received the prestigious Salute to Women’s Business Enterprises award from the Women’s Business 10

The award comes as no surprise to those who know her, though Ms. LaPorta is thrilled and humbled to be honored. “I am so grateful to receive the Business Stars award from the WBENC,” said Mercedes LaPorta, “especially since the organization has already given me so much by enabling me to meet like-minded and successful businesswomen at Fortune 500 corporations and around the region.” LaPorta is currently celebrating 26 years in business, having grown from a small Sylvania lamp distributor to a 43-employee, full-service electrical supply company housed in a 30,000 square foot office building and warehouse. Mercedes Electric Supply boasts a diverse project roster that includes work at the Miami American Airlines Arena, Nellis Air Force Base in Nevada and the Federal Law Enforcement Building that has helped her earn over $20 million in annual sales. Their contracts with the Miami International Airport have accounted for $10-20 million in revenue during the last four years. Since joining the WBENC in 2004 she has already received multiple orders for electrical supplies for Office Depot stores nationwide. Mercedes LaPorta’s business accomplishments include multi-year recognition

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DIVERSITY BRIEFS as one of the top Hispanic-owned businesses in the nation and in Florida. Professionally, she is a member of WBENC, WPO and NMSDC. Her industry affiliations include the IMARK Group, National Association of Electrical Distributors (NAED), National Electrical Contractors Association (NECA), and the Association of Building Contractors (ABC). Locally, she is a member of the Greater Miami Chamber of Commerce.

About Mercedes Electric Supply Mercedes Electric Supply is family-owned business started in 1979. As an electrical distributor, the company stocks $2 million worth of inventory from manufacturers such as Square D Company, Pass and Seymour, Osram/Sylvania and Southern Wire. The company is also certified as a Woman-Owned Business and Hispanic Business Enterprise under various state and county agencies.

Xerox Among Top 10 Companies for Executive Women, Says National Association for Female Executives The ability of women to lead and succeed at Xerox Corporation (NYSE: XRX) has earned the company a top spot on the 2005 Top 30 Companies for Executive Women list, released today by the National Association for Female Executives, a women’s professional and business association.

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Xerox is No. 8 on NAFE’s annual ranking, recognizing the company’s inclusive workplace culture and women in leadership roles. For the first time, NAFE measured the percentage of women occupying positions with “profit-and-loss” responsibility. Other factors considered in the ranking included succession planning programs, leadership training, mentoring programs, and work/life programs. Eligible companies also must have at least two women on the board. “Xerox proves that it’s not that difficult to move women into leadership,” said Dr. Betty Spence, president of NAFE. “Women make up approximately a third of their work force; and their number of women managers matches that, with many of those women exercising profit-and-loss responsibility. They are a stand-out.” In addition to the high percentage of women in Xerox’s overall U.S. work force, at the level of vice president and above, 27 percent are minority and majority women, according to 2004 year-end data. Women in key roles include the company’s chairman and chief executive officer, chief engineer, chief information officer, corporate treasurer, vice president of finance for Xerox North America, vice president of human resources, and president of Business Group Operations, a $12 billion organization. Xerox’s investments in leadership training and employee development are complemented by investments to help employees balance their work and personal lives. The company offers flex time, job sharing and telecommuting work arrangements as well as benefits such as tuition reimbursement, child-care subsidies, child-care counseling and referral, first-time homebuyer’s assistance, adoption assistance, 12

on-site fitness and banking facilities, and employee assistance programs. The 2005 “Top 30” marks the fourth time that Xerox has been recognized since the list’s 1998 inception; the company also was listed in 1998, 1999 and 2004. NAFE’s rankings are determined through research conducted by the organization’s staff and comprehensive questionnaires completed by each company. The National Association for Female Executives, founded in 1972, is part of Working Mother Media, which also operates Working Mother magazine. More information is at www.nafe.com.

Pitney Bowes’ Leslie AbiKaram Recognized as 2005 Woman of Distinction in High Volume Transaction Output Industry Pitney Bowes Inc. (NYSE: PBI) announced that Leslie Abi-Karam, president, Pitney Bowes Document Messaging Technologies, has beed honored as a 2005 Woman of Distinction at an awards ceremony on May 19, 2005 at the AIIM ON Demand conference and exhibition in Philadelphia. Ms. Abi-Karam will be recognized for her leadership skills, professional achievements and contributions to the high volume transaction output (HVTO) industry. Organized by OutputLinks, a leading information resource of the HVTO industry, the

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DIVERSITY BRIEFS Woman of Distinction’s annual program spotlights the rich contributions and ongoing achievements of innovative women who help shape today’s transaction output industry. “Our program honors HVTO luminaries,” said Andy Plata, president, OutputLinks. “This award recognizes the many contributions, achievements and successes of stellar women — like Leslie Abi-Karam — in transaction output.” Among her many career accomplishments, Ms. Abi-Karam has led Pitney Bowes to be the worldwide leader in the mail and document production industry for the past three years. I am of course honored to receive this award,” said Abi-Karam, “and to join this high profile league of industry achievers.” Also to be recognized at the awards ceremony is Brian M. Baxendale, recently retired senior vice president of Pitney Bowes Inc. and president, Enterprise Relationship Development. Baxendale will receive the Stewardship Award in recognition of his personal and professional leadership, achievements and contributions to the Electronic Document Systems Foundation (EDSF).

About Pitney Bowes Pitney Bowes is the world’s leading provider of integrated mail and document management systems, services and solutions. The $5.1 billion company helps organizations of all sizes efficiently and effectively manage their mission-critical mail and document flow in physical, digital and hybrid formats. Its solutions range from addressing software and metering systems to print stream management, electronic bill presentment and presort mail services. The company’s 85 years of technological leadership have produced

many major innovations in the mailing industry, and it is consistently on the Intellectual Property Owner’s list of top U.S. patent holders. With approximately 35,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations. More information about the company can be found at www.pb.com.

NEW women of color report outlines industry’s challenges, opportunities NEW urges action on the promotion of women of color The Network of Executive Women has issued a new report urging action on the promotion of women of color in the consumer products and retail industry. The report, “Women of Color: The Challenge and Opportunity Ahead,” includes a 10-point corporate action plan to help address what it calls the “stubborn lack of progress” in promoting women of color to senior management positions. The new white paper points out that only one Fortune 500 CEO is a woman of color, and quotes a Catalyst study revealing that women of color hold only 1.6 percent of corporate officer positions at 429 of the Fortune 500 companies surveyed. The non-profit association says that women of color lag behind not only white men but white women in promotion and pay. The Network’s 10-point corporate action plan includes such recommended steps as crafting a diversity plan, setting goals, establishing benchmarks and creating support networks and programs for women of color.

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‘Good for growth’ The NEW report refers to a recent Catalyst study as evidence that promoting women is “not just good policy, but good business.” According to the survey, companies with the greatest gender diversity in their ranks have a 35 percent higher return on equity than companies with the lowest women’s representation. Gender and ethnic diversity in management “is good for growth,” the report concludes. “Executive women of color are a vast underutilized business resource. Their leadership can be the key to new markets, increased consumer loyalty, greater productivity, creativity and diversity in decision-making, and fresh insights to your customers.” “We’ve run out of excuses,” commented NEW board member Trudy Bourgeois, president and CEO of the Center for Workforce Excellence. Bourgeois helped spearhead the NEW Women of Color initiative that led to this month’s report. “It’s not a pipeline issue,” Bourgeois said. “It’s an emotion issue. It’s about the willingness of people to change. She said, “A lot of lip service is being paid - some people see this as the politically correct thing to do, but in order to thrive organizations must fully engage every employee and fully serve every consumer.” NEW Executive Director Joan Toth said the white paper is the second in a series of Best Practices reports designed to help NEW sponsors and members realize “the full potential of management diversity.” In addition to the white paper series, “NEW will continue to consult and advise its members on diversity issues, hold networking events, facilitate mentoring and champion the cause of industry diversity,” Toth said.

To inquire how your company can receive this and other Best Practice Series white papers, contact NEW Executive Director Joan Toth at (312) 373-5682, or e-mail jtoth@newonline.org.

One thousand members The Network of Executive Women, Consumer Products and Retail Industry, is comprised of more than 1,000 individual members, including senior executives, emerging leaders and academics and students. They represent more than 300 organizations, including grocery, chain, drug and mass retailers, wholesalers, CPG manufacturers, consultants and sales agents, and associations and media. The Network is supported by its membership and its corporate sponsors, including Accenture, PepsiCo, Ahold USA, Procter & Gamble, Coca-Cola North America, Wal-Mart/Sam’s, Johnson & Johnson, ConAgra Foods, Leadership Network Corporation, Deloitte, 7-Eleven, The Gillette Company, Trade Marketing Group, GSP Marketing Technologies, Tyson Foods, Kraft Foods, US Smokeless Tobacco, AC Nielsen, the Hershey Company, Campbell Soup Co., Kellogg’s, Del Monte Foods, Sara Lee Coffee & Tea, Cadbury Adams, Flowers Foods, Daymon Worldwide, Mass Connections, Giant Eagle, Meijer, J.B. Hunt and Morton Salt / Rohm and Haas For more information on the Network of Executive Women, its upcoming Leadership Summit Sept. 26-27 and its education, mentoring, networking and leadership development programs, contact Executive Director Joan Toth at (312) 373-5682 or visit www.newonline.org. WIBI

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WOMEN AS ENTREPENEURS More than 30 Million Women Worldwide Are Entrepreneurs

women’s entrepreneurial activity was released today by The Center For Women’s Leadership at Babson College.

Mentoring and Support Networks Are Vital To Success

The GEM 2004 Report on Women and Entrepreneurship provides an in-depth global look at women’s entrepreneurship and highlights the important role that women play in developing and developed economies.

Forty-one percent of entrepreneurs are women, according to a cross-national study of thirty-four countries. The first Global Entrepreneurship Monitor (GEM) report on

“The GEM study on women’s entrepreneurship emphasizes the critical role women have in new venture creation and provides insights to inform policies focused on increasing and extending the scope and reach of their entrepreneurial

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activities,” said Dr. Nan Langowitz, Director of the Center for Women’s Leadership at Babson College. “These findings support our goal of understanding, featuring and supporting the entrepreneurial efforts of women worldwide. “

Key findings in 2004 • In 2004, GEM estimated that about 73 million people are involved in starting a new business in the 34 countries that participated in the study. Of those, about 30 million are women. The average level of female total entrepreneurial activity (TEA) rate across the 34 GEM countries varied from 39.1% in Peru to 1.2% in Japan. • In every country in the study, men are more active in entrepreneurship than women. The largest gap occurs in middle income nations where men are 75% more likely than women to be active entrepreneurs, compared to 33% in high-income countries and 41% in low-income countries. • Overall, opportunity is the dominant motivation for women’s entrepreneurship, similar to men. Nonetheless, many more women than men are involved in entrepreneurship because of the lack of alternative job opportunities. • In low and middle income countries, the peak years to become involved in entrepreneurial activities for women are ages 25-34. In high income countries, on the other hand, the peak years for women are ages 35-44. • In low income countries, the majority of entrepreneurially active women (54%) have not completed a secondary degree. In high income

countries, on the other end, women with post secondary education are the most likely (34%) to start a new business. • As in the case of men, and regardless of per capita income, the largest majority of women involved in starting a new business hold other jobs. • Regardless of per capita income, a strong positive and significant correlation exists between knowing other entrepreneurs and a woman’s involvement with starting a new business. “Our results suggest that employed women who know other entrepreneurs are the most likely to start a new business,” said Babson Professor Maria Minniti, one of the authors of the report. “These women tend to be older and better educated in high-income countries than in low and middle-income countries. We also found that a woman’s perceptions of environmental opportunities as well as confidence in her own capabilities are a powerful predictor of her entrepreneurial behaviour.” The GEM report shows that across all countries, a strong positive and significant correlation exists between opportunity recognition and a woman’s likelihood of starting a new business. Women who perceived the existence of business opportunities were more likely to make the decision to start a new business. Additionally, across all countries, a strong positive and significant correlation exists between a woman’s belief of having the

In every country in the study, men are more active in entrepreneurship than women. The largest gap occurs in middle income nations where men are 75% more likely than women to be active entrepreneurs, compared to 33% in high-income countries and 41% in low-income countries. 18

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“Our results suggest that employed women who know other entrepreneurs are the most likely to start a new business,” said Babson Professor Maria Minniti, one of the authors of the report. “These women tend to be older and better educated in high-income countries than in low and middleincome countries. knowledge, skills and experience required to start a new business and her likelihood of starting one. Conversely, a strong negative and significant correlation exists between fear of failure and a woman’s likelihood of starting a new business.

1.6 in high income countries. • Further, women entrepreneurs tend to start businesses with known technology and in established markets.

Policy Implications Other Findings • Subjective assessments about the availability of opportunities, the ability to exploit them, and the possibility of failing in doing so are all crucial factors in a woman’s decision to start a new business. • The majority of businesses started by women employed less start-up capital as compared to men, used known technology, and targeted existing markets. This suggests that women entrepreneurs may take a more conservative approach to business formation, perhaps because of their higher involvement in necessity driven entrepreneurship. • On average, businesses started by men used more capital than those started by women (USD 65,010 vs. USD 33,201 respectively). • Women tend to have slower early growth trajectories. The vast majority of women involved in starting a new business expect to create five or fewer additional jobs within a five-year period. In low and middle income countries, only 1% of women’s new businesses qualify as having high employment potential. The percentage increases to only

“In order to be effective, policies with respect to entrepreneurship need to be tailored to a country’s specific context,” said Prof. Minniti. “This is particularly important for women since they tend to be much more sensitive than men to conditions in their local environment. Nonetheless, across all countries, it is clear that support policies by themselves are not sufficient to increase women’s involvement in entrepreneurship. Women are particularly sensitive to their social environment. Mentoring and network support, especially at the local level, are at least as crucial in boosting women’s attitudes with respect to business leadership and new venture creation as financial support.”

Policy Implications – High-Income Countries High-income countries need to sustain innovation rates and encourage the involvement of women in entrepreneurship, especially when faced with an aging labor force. Areas of importance for policy makers should include promoting entrepreneurial education at the college and post-graduate level and encouraging more women to pursue technical degrees and to commercialize their ideas. Coordinating policy to encourage equal

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GEM estimated that about 73 million people are involved in starting a new business in the 34 countries that participated in the study. Of those, about 30 million are women. benefits for women in the workforce, whether in traditional or entrepreneurial business roles, is vital.

Policy Implications – Middle-Income Countries More than in other groups, women in middle income countries shy away from starting their own businesses. Areas of importance for policy makers should include to instill fundamental aspects of the entrepreneurial mindset and to increase the attractiveness of entrepreneurship as an income producing activity for women even when they have access to jobs in manufacturing or in the public sector.

entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program and grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College. Babson Executive Education offers executive development programs to experienced managers worldwide. For information, visit www.babson.edu. The GEM report: The Global Entrepreneurship Monitor (GEM) was established by Babson College and the London Business School and is an annual crossnational assessment of entrepreneurship. Started in 1999 with 10 participating countries, the project has expanded to include 34 countries in 2004, representing a total labor force of 784 million.

Policy Implications – Low-Income Countries Much female entrepreneurship in lowincome countries is motivated by necessity, thus starting a new business represents an effective and flexible way for women to emancipate themselves and provide for their families. Areas of importance for policy makers should include literacy and financial assistance. The Center for Women’s Leadership at Babson College provides educational programs, conducts research, and offers executive outreach that promote the advancement and accomplishment of women at all stages of their professional development and the achievement of competitive advantage by companies focused on the talent and market power of women. For more information, visit www.babson.edu/cwl.

The GEM program is a major effort aimed at describing and analyzing entrepreneurial processes within a wide range of countries. The program has three main objectives: • To measure differences in the level of entrepreneurial activity between countries • To uncover factors leading to appropriate levels of entrepreneurship • To suggest policies that may enhance the national level of entrepreneurial activity New developments, and all national reports, can be found at www.gemconsortium.org. The program is sponsored by Babson College and London Business School. Copies of GEM cross-national assessment on women’s entrepreneurial activity are available at www.gemconsortium.org.

Babson College, Wellesley, Mass., USA, is recognized internationally as a leader in 20

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IS DIVERSITY THE KEY

?

GLOBAL HR EXECS LINK DIVERSITY TO RETENTION Just over two thirds (67%) of organizations in the U.S. and 71% elsewhere in the developed world explicitly view promoting diversity at all levels as a retention tool, according to a study by global career services company Lee Hecht Harrison. The report, Release, Retain, Recruit: Optimizing the Cycle of Workforce Regeneration, is based on a telephone survey of senior human resources executives from 300 organizations in the United States, Europe, Asia/Pacific Islands, Central America, South America and Canada. Lee Hecht Harrison Executive Vice President Bernadette Kenny said the widespread recognition of the role developing and advancing employees with diverse backgrounds plays in retention was among the study’s pleasant surprises. “Certainly,

with demographic shifts and globalization changing organizations’ customer bases, there has been growing awareness that having employees at all levels who represent diverse constituencies is not just a legal or moral issue but also a business imperative,” Kenny said. “The fact that most organizations now see the link between providing equal advancement opportunities and employee retention is another step forward in understanding the value of diversity in the workplace.” Kenny noted that Lee Hecht Harrison’s findings are reinforced by a 2004 National Urban League study that looked at the question from the employee perspective. The study, Diversity Practices that Work: The American Worker Speaks, found that 59% of

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U.S. employees believe that effective diversity practices are extremely or very important to retaining diverse talent. It’s noteworthy, however, that when asked whether their company had an effective diversity program, only 32% of the representative sample of American workers had a favorable response. The plurality (42%) was neutral, while 26% had a negative view of their companies’ efforts. Kenny said that many participants in Lee Hecht Harrison’s study acknowledge their organizations are not yet doing everything they can to promote diversity at all levels. In fact 35% of U.S. respondents and 20% of those elsewhere in the world say that commitment to developing a diverse workforce is one of the areas they need to improve in order to recruit and retain talented employees going forward.

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While developing diverse employees is only one of the areas respondents singled out for improvement, it was cited by more U.S. respondents than bonuses and benefits and by more worldwide respondents than vacation time and perks. Kenny said that given widespread fears that a new global retention crisis looms, organizations should institute or reassess, and, if necessary adjust, their diversity initiatives. “It is not enough for companies simply to have many different groups represented in their workforce. Current and prospective employees need to know that regardless of background, everyone has an equal opportunity to develop, contribute to and advance in the organization.”

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The quantitative data in Release, Retain, Recruit: Optimizing the Cycle of Workforce Regeneration is the result of the survey commissioned by Lee Hecht Harrison and executed by professional research firm Global Strategy Group, LLC, using a uniform, 51-item questionnaire. The margin of error is +/- 5.7%. To request a copy of the report, call 800.611.4LHH or visit Lee Hecht Harrison’s website at www.LHH.com. With over 240 offices in 36 countries, Lee Hecht Harrison is the global performance leader in career and leadership consulting, maximizing organizational and individual success through services that connect people to work, increase career effectiveness, and develop superior leaders. Its focus is helping organizations and their employees deal with career transitions, career management and the effect of change on careers, work and employability. Established in 1974, Lee Hecht Harrison’s experience includes helping companies of all sizes effectively manage change, downsizing and internal career mobility. Lee Hecht Harrison is the flagship brand of the Adecco Career Services division of Adecco S.A., the world’s largest HR solutions company with nearly 6,000 offices in 62 countries. For more information about the company and its recent research on HR topics, please visit Lee Hecht Harrison’s website at www.LHH.com. WIBI

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Women-Owned Businesses Continue to Grow in Top 50 Metropolitan Areas Women-owned businesses increasingly are driving the economic health of the top 50 metropolitan areas through job creation and generating revenues. A report released by the Center for Women’s Business Research shows that the number of women-owned businesses in the top 50 metropolitan statistical areas (MSAs) continues to grow faster than the economy in general. The 5.1 million privately-held, 50% or more womenowned firms located in the top 50 MSAs employ 9.5 million people and generate $1.3 trillion in annual sales. The report, entitled Women-Owned Businesses in 2004: Trends in the Top 50 Metropolitan Areas, is part of the Center’s biennial update on women-owned firms. In April, the Center released its most up-to-date numbers on women’s business ownership in the United States and 50 states. Wells Fargo continues its longstanding exclusive underwriting of the national, state, and metro areas biennial reports.The final piece of the 2004 biennial update, the numbers for women business owners of color, will be released in the fall.

“This research further confirms the tremendous impact women-owned businesses have on the U.S. economy,” said Joy Ott, Regional President for Wells Fargo in Montana and National Spokesperson for Wells Fargo’s Women’s Business Services Program. “It’s very encouraging to see women entrepreneurs in growing economic areas like Salt Lake City, Phoenix, and Seattle taking risks and building successful businesses.” In this fourth biennial update, the study reveals that based on the numberof firms, employment, and sales, the top ten MSAs are (in rank order): Los Angeles/Long Beach, CA Chicago, IL New York, NY Houston, TX; Phoenix/Mesa, AZ Washington, DC Maryland Virginia

“At a time when employment is critical to the growth of urban economies, womenowned businesses are having a vital impact. Between 1997 and 2004, the number of privately-held, 50% or more women-owned businesses with employees in these metro areas grew by 30%, compared to a 10% growth rate for all firms with employees in these areas,” said Myra M. Hart, Chair, Center for Women’s Business Research and Professor, Harvard Business School.

West Virginia Dallas, TX Detroit, MI Philadelphia, PA New Jersey Atlanta, GA Seattle/Bellevue/Everett, WA

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The ten metropolitan areas with the fastest growth rates for 50% or more women-owned firms are (in rank order): Salt Lake City/Ogden, UT Phoenix/Mesa, AZ Las Vegas, NV Raleigh/Durham/Chapel Hill, NC Charlotte/Gastonia/Rock Hill, NC Greensboro/Winston-Salem, SC Portland, OR Vancouver, WA Nashville, TN Denver, CO Miami, FL St. Louis, MO/IL (tied).

The top ten metropolitan areas estimated to have the greatest share of 50% or more women-owned firms are (in rank order): Portland/Vancouver, OR/WA(57.7%) Seattle/Bellevue/Everett, WA (56.8%) Phoenix/Mesa, AZ (54.7%) Las Vegas, NV/AZ (53.7%) St. Louis, MO/IL (52.6%) Sacramento, CA (52.5%) Kansas City, MO/KS (51.4%) Oakland, CA (51.3%) Tampa Area, FL (50.5%) San Diego, CA (50.3%) The report focuses, for the first time ever, on three categories of privately-held, womenowned businesses: those businesses which are equally (50/50) women- and men-owned; those which are 51% or more women-owned. The report, Women-Owned Businesses in 2004: Trends in the Top 50 Metropolitan 28

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Areas, is available on CD-ROM for $145. When ordered in conjunction with the WomenOwned Businesses in 2004: Trends in the U.S. and 50 States CD-ROM ($145), both can be purchased at a discounted price of $250. (Further discounts are available for Center corporate partners and NAWBO members.) For further information, contact: Center for Women’s Business Research, 1411 K Street, NW, Suite 1350, Washington, DC 20005-3407 Phone: 202-638-3060, ext. 10. Email: info@womensbusinessresearch.org, Web site:www.womensbusinessresearch.org.

Methodology Estimates for privately-held, 50% or more women-owned firms; privately- held, majority (51% or more) women-owned firms; privately-held, equally (50- 50) women- and men-owned firms; and all privately-held firms in the top 50 Metropolitan Areas (MSAs) are derived from the Census Bureau’s “1997 Survey of Women-Owned Business Enterprises” (SWOBE). The top 50 MSAs are based on 1997 U.S. Census Bureau definitions and are based on overall population size. The estimates are based on state-level growth rates from 1992 - 1997 that are partially derived using unpublished SWOBE data. (See Center for Women’s Business Research: Women-Owned Businesses in 2004: Trends in the U.S. and 50 States, April 2004, for more details). Estimates for both the equally (50-50) women- and men-owned firms and all privately-held firms are based on the growth rates of all privately-held firms, and estimates for majority (51% or more) women-owned firms are based on the growth rates for only those firms that are majority (51% or more) women-owned. Estimates and growth rates for the privately-held, 50% or more women- owned firms are based on the combined majority women-owned and equally women- and menowned firm data. About the Center for Women’s Business Research

Center for Women’s Business Research is the premier source of knowledge about women business owners and their enterprises worldwide. The Center’s mission is to unleash the economic potential of women entrepreneurs by conducting research, sharing information and increasing knowledge about this fast-growing sector of the economy. Since 1989, the Center has generated researchbased intelligence that has helped public- and private-sector leaders, advocates, and individual women business owners make informed strategic decisions for generating greater business opportunities. The Center shares its knowledge of the economic and social aspects of women’s entrepreneurship with policy makers, financial institutions, corporate leaders, government agencies, academia, and the media through research reports, press releases, newsletter publications, seminars, speaking engagements, and worldwide on the Internet at www.womensbusinessresearch.org.

About Wells Fargo Wells Fargo & Company is a diversified financial services company with $420 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,000 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only “Aaa”- rated bank in the United States. Providing financial products and services to more than one million businesses with annual sales up to $20 million in all 50 states, Puerto Rico and Canada, Wells Fargo is the #1 lender to small businesses in the United States in total dollar volume according to 2002 CRA data. The second largest national SBA lender in dollars, and third largest in loans, Wells Fargo is an SBA Preferred Lender in 28 states, and originated 3,181 loans for $473 million in 2003. Wells Fargo has also been ranked the number one SBA 504 lender nationally for the last two years. Speer & Associates rated Wells Fargo’s online services #1 for small business and for consumers (2003). Its targeted business services programs provide outreach and education to women, African American, Latino, and Asian business owners about financial services. Since 1995, Wells Fargo has loaned more than $20 billion to women and minority business owners. Visit Wells Fargo at www.wellsfargo.com.

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spending more than a decade as an anchor and reporter for Boston‚s WBZ-TV. She started her own company three years ago, parlaying her media skills into a thriving, high-demand business for executive coaching and speaker and media training.

Suzanne Bates Inks Book Deal With Major Publisher Award-winning TV journalist turned business-owner to reveal how to “Speak Like a CEO” Suzanne Bates, President and CEO of the communications consulting firm, Bates Communications, Inc., has signed with powerhouse publisher McGraw Hill to pen her first book, titled, “Speak Like A CEO: Secrets to Command Attention and Get Results.” Bates is a former TV reporter and top-rated news anchor in major market television,

Suzanne decided to write the book when her work with executives revealed they had little or no formal training in public speaking. “Some had been through just a day or two of group training, and few had ever worked with a coach,” adds Bates, “yet they were expected to speak to large groups, deliver major keynotes, appear at important industry conferences, lead board meetings, talk to news reporters, and manage other high pressure situations.” It was then that Bates realized the need for a book that provides a sophisticated approach to finding your “unique” style, speaking well, and projecting genuine leadership skills. “Speak Like A CEO” offers last-minute tips for executives-in-training, long-term speaking plans for CEOs, and a complete coaching

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Suzanne decided to write the book when her work with executives revealed they had little or no formal training in public speaking. “Some had been through just a day or two of group training, and few had ever worked with a coach...” says Bates

guide for people who want to be leaders. It‚s broken down into three sections on speaking: The Secrets, The Situations, and The Strategies for commanding attention and getting results through effective communication. Suzanne Bates describes “Speak Like A CEO” as a “different kind of book on speaking — for CEOs and business professionals who aspire to greatness. Whether you‚re the CEO, or want to be the CEO someday, you have an opportunity right now, today, to develop and grow one of your greatest assets - the authentic voice of leadership.” For more, visit www.speaklikeaceo.com The McGraw-Hill Companies have been a leader in providing trusted information and analysis for well over a century, filling a critical need for information and insight by helping individuals and businesses in a broad range of markets. McGrawHill Education is the largest kindergarten through 12th grade publisher in the U.S. and a leading global provider of education materials and professional information. BtoB magazine recently named The McGraw-Hill Companies No. 1 on its “Top 10 Business Media Powerhouses” list. 32

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OLA R. JACKSON

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FROM STRUGGLE TO SUCCESS How I made it Happen!

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t was 14 years ago, when I received a handmade birthday card, coupled with a check and a note that read, “Happy Birthday from the Staff of Jackson Communications” (later changed to Ola Jackson Communications). My unofficial staff consisted of my husband Daryl and my then 5-year-old son Armon who had pulled together their resources, threw in some artistic talents, and presented me with an opportunity. The funds helped me purchase stationary and other badly needed office supplies, and a little was left over for capital. By my own admission, I did not have a clue as to how to run a business, create a business plan or generate revenues...I did have a vision; although somewhat blurry. I knew that I needed more than an idea to assure that my venture would be profitable. I was also aware that entrepreneurial ideas came a dime a dozen. My natural instinct prompted me to draw on some assets that I thought would be valuable investments for my new endeavor; self-determination, drive and who lot of courage. In 1991, I started a public relations company that specialized in media relations and special event planning. In addition to coordinating groundbreakings, ribbon cuttings and business affairs, I utilized my experience in fashion merchandising to provide professional development services to job training programs, colleges and universities. During a welfare-to-work seminar, while teaching young mothers how to prepare resumes, enhance their interviewing skills and dress appropriately for job interviews, I noticed that the women weren’t paying me any attention.

I had a revelation, if they ignored me during my workshops, I wondered if it would help if I created a publication that they could take with them and read on their own time. I realized that these ladies desperately needed ongoing career advancement assistance. After a year of contemplating how I could produce a publication with no experience in journalism or English, I finally decided to take a leap. My desire to empower these women was the nexus of Onyx Woman, a free, bimonthly professional development newsletter for African-American women that was distributed throughout the Pittsburgh area. The hardest part of creating my new project was choosing a name. I looked through the dictionary and every word that defined, “Black” was derogatory. I prayed for an answer from God to complement the vision that He had given me. I came up with the name, “Onyx.” “Onyx” was just right; it was the perfect depiction that defined AfricanAmerican women; strong, precious, valuable and black.” A few years after production, I decided to put a subscription price on what was the only publication of its kind in Pittsburgh and relieve myself of the tireless effort to drive around the city with husband and son in tow delivering the papers. Upon review of my new subscription data base, I had a shocking discovery...the demographic population that my newsletter was created for was not the population that was subscribing. Onyx Woman subscribers were professionals, executives, attorneys, doctors and politicians.

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It wasn’t long after I set up shop in my home office that I ran into a friend who informed me about a new incubator (a building that houses several start-up businesses while in their infancy stages) in a nearby community. She suggested that I take a look at it. Since my business was quite new I did not want to incur any additional serious fixed cost so I dismissed her recommendation.

It was the height of gang activity in the community that caused my husband to be concerned for my well-being. I knew it would not be long before a conversation was to ensue about the harmful effects of my current business residence.

In the course of a conversation with a colleague, I was notified that a woman had just made history in Pittsburgh by being the first African-American “It takes hard work, dedication, tenacity, woman to purchase an office building near patience and perseverance to make a downtown Pittsburgh and that I should check business work. These are characteristics it out. “You got to be kidding!” I told my that you cannot and will not learn in colleague, “How on earth could I afford an business school.” uptown office?”

My friend, harassed me until I finally said, “Okay, I’ll take it!” I convinced my husband that the move might be a good idea because I could reach more people by having access to other entrepreneurs who were housed in the building. He hesitantly gave me a handshake and said, “I guess you’re now officially on your own.” I nervously embarked on my relocation and was able to generate just enough revenue from neighboring business owners to pay the rent. I recall on many occasions, sitting in my small but eloquently decorated office, twiddling my thumbs while waiting for the phone to ring. The walls in the modestly renovated community redevelopment project, located in the heart of the inner city, weren’t quite thick enough to block a whisper. Each time I would leave my office the receptionist would laughingly inform me that she was aware that my phone had not rung all day. Her sarcastic sense of humor motivated me to slip outside the building and call my own office, allowing the phone to ring just enough times to enable my nosey receptionist to hear the chimes. I wanted to give other tenants in the building the impression that things were not as bad as they seemed; when in fact they were worse. 36

After several suggestions, I went to check it out. The office was far too large for my activities, and I could not envision paying out, “that kind of rent.” Even though I had no idea what, “that kind of rent” would be. I met the owner of the building who informed me that she ran a Christian-based business and that she would have to pray on her decision to allow me to move in. I felt that it did not matter how hard she prayed unless she would pray that I obtained a large contract. I just could not envision myself in that big office paying, “that kind of rent.” She contacted me later to notify me that the office was mine and at an unbelievable low rate; far below market value. After a few months in my new location, I found myself running back and forth through the suite to answer the phones. My phone system was not properly installed so I could not answer all of the lines on the same phone. During the course of one of my marathon races to the grab the receiver, I paused just long enough to take a good chuckle, as I pondered on the thought that I had grown from receiving very few phone calls, to not being able to juggle the incoming callers.

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My growth spurt was a result of being in close proximity to the major advertising agencies in downtown and recharging the newsletter to focus on my new found demographic population, as well as, finding a new home on the Internet which propelled my subscription base even more.

“The message that I want to convey to those seeking to strike out on their own is that going solo can give you a sense of isolation, especially

during those times when you feel as if As with many new ventures progress didn’t last long. you are swimming against the tide.” Growth began to level off and I badly needed a “Plan B.” My business strategy was in need of a jolt. So I created a spin-off of my quarterly publication and back at this picture,” responded Daryl. At that started conducting entrepreneur workshops in time, I viewed his behavior as playful tainting, an effort to diversify the services that my as opposed to him simply believing in me. business offered. For a few years we received Little did I know that he would become my unacceptable attendance and were forced to biggest supporter and his belief in me would rethink the workshop’s viability. After some be one of my biggest motivating factors. research, I refined the workshops to focus on financial matters for all women whether they That photograph now sits on my desk 14 were in business or not, which resulted in a series of seminars that eventually transformed years later. into a full-blown, sell-out conference. I went There have been many changes in my life, from trying to figure out how we could attract my magazine and my business since my more people to regrettably having to inform husband captured the image of the beginning would-be attendees that we could not of my ambitious undertaking during his accommodate them. Of course this impromptu photo session. The greatest transformation forced me to reminisce about transformation has been the creation of Onyx the days when our events could hardly fill a Woman Network (OWN), which includes, in small conference room. addition to what is now a full-blown magazine distributed in 10 major African-American Around the same time, we did a publication make-over adding more pages and splashes of markets, our new television talk show, our conference debuting in Atlanta next Spring color. Onyx Woman began to receive badly 2006, and our online radio show. What hasn’t needed attention from women around the changed is the love and commitment from country. I began receiving invitations to friends and family; especially my husband, speak to other women about the successful whose patience and understanding has been journey of turning my vision into a successful so badly needed as we both endured the venture. sacrifices and risk that were necessary to make it all happen. Reminiscing about the past brings to mind the day my husband snapped an unflattering The message that I want to convey to those picture of me lying across my bed in a seeking to strike out on their own is that bathrobe trying to figure out how to prepare a going solo can give you a sense of isolation, business plan. My surprise and anger lead me especially during those times when you feel as to holler, “Why are you doing that?” “When you become successful I want you to look continued on next page>>>

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if you are swimming against the tide. Through the years, I felt as if I was sure to sink, and just as my raised hand was just about to go under water, somebody, somewhere somehow grabbed hold and pulled me to shore only to breathe life into my soul. I have had many people support me along the way. Their words of encouragement have strengthened me. Their prayers have opened doors that I thought were bolted shut. Through them I have been able to hold on until change took place. It takes hard work, dedication, tenacity, patience and perseverance to make a business work. These are characteristics that you cannot and will not learn in business school. I want you all to know in pursuing your dreams sometimes the waves of life are gentle, enabling us to glide over like a breeze. Then there are huge, dangerous rip tildes that can swallow you up and steal the breath out of your spirit. There is nothing constant about change, other than the fact that it is guaranteed tohappen. What you must remember is that you play a vital role in whether you drown in your sorrows or stay afloat with the changes. Before you go under, remind yourself why you are struggling rather than surrendering your dreams only to accept a life of simple contentment and mere survival. You can go from struggle to success. Ola Jackson earned an Associate’s Degree in Fashion Merchandising from Duff’s Business Institute and a Bachelor of Science in Business Administration from Robert Morris University, where she majored in Marketing. Jackson has been featured in a number of newspapers and has been a frequent guest on various radio and television talk shows. She was elected Business Woman of the Year by the Negro Business and Professional Women’s Club for her contributions to the community through Onyx Woman. Jackson was honored by the N.A.A.C.P. in recognition of her role as business owner. She received the Woman of Excellence Award from the Professional Women in Business Club, and the Woman of Distinction Award from Ebenezer Baptist Church. Jackson hosted a popular, live, business radio talk show, entitled “Movin On with Ola Jackson” and “Accents on Women” which aired on WCXJ radio in Pittsburgh. Jackson was also a business coach for disabled adults. You can see a sample of the magazine at: www.onyxwoman.com. You can contact Jackson at 412-731-5159. WIBI Women in Business & Industry

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in-Training license in 1994. She received a master’s of science degree in mechanical engineering from California State University at Fresno in 1998.

NASA ENGINEER WINS PRESTIGIOUS AWARD NASA aeronautical engineer Laurie Marshall is being honored by the National Society of Black Engineers (NSBE) with their 2005 Golden Torch Award for Outstanding Woman in Technology of the Year. Marshall was selected for her professional achievements in science and engineering. According to the Society, the Golden Torch Awards honor, “the best and brightest technology professionals in government, business and academia.”

Marshall received her award at the 8th annual Golden Torch Awards ceremony in Boston on March 24 during the 31st NSBE convention. For more information about the Society, visit: http:/ /www.nsbe.org/convention/index.php For information about NASA on the Internet, visit: http://www.nasa.gov WIBI

Marshall has participated in several research projects at the NASA Dryden Flight Research Center (DFRC), Edwards, Calif. She served as chief engineer for the third flight of the X-43A hypersonic vehicle in November 2004. The project validated supersonic-combustion ramjet (scramjet) propulsion technology. Marshall began her NASA career in 1992, when she served an internship in the Aerodynamics Branch at DFRC. She accepted a permanent position in 1993, following graduation from the University of California at Davis with mechanical and aeronautical engineering degrees. She earned an Engineer-

NASA aeronautical engineer Laurie Marshall Photo - Tom Tschida - courtesty of NASA

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Women In Business & Industry 2005  
Women In Business & Industry 2005  

An online magazine for working women looking for new opportunities in today's job market. Follow in the footsteps of our success profiles, l...

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