Department of Justice Blocking AT&T/T-Mobile Merger Hurts the Hispanic Business Community

WASHINGTON, Aug. 31, 2011 /PRNewswire-USNewswire/ -- As the national advocate for three million Hispanic-owned businesses across the country, the United States Hispanic Chamber of Commerce (USHCC) is concerned that Department of Justice's lawsuit will delay economic growth and job creation for our businesses that are anxiously awaiting the opportunities that will result in light of the AT&T/T-Mobile merger.

AT&T's exemplary commitment to the Hispanic community and overall job creation demands for a speedy approval of the proposed merger. AT&T has already pledged to invest $8 billion over the next seven years for wireless deployment and yesterday announced their intention to bring jobs back to America, restoring a net of 5,000 call center jobs.  The immediate fruition of these steps is critical for the economic recovery of our country.

Hispanic business contributes in excess of $400 billion to our economy each year.  Our influence and investment will continue to grow, but our success has in part been made possible by companies like AT&T that have directed significant portions of their procurement spend –  $9.2 billion in 2010 – to minority-owned businesses.  If the merger is approved, procurement spend with our community will continue to increase and AT&T has pledged to augment their supplier diversity program by developing and sourcing existing and new Hispanic-owned enterprises through technical assistance and capacity building initiatives, as well as sponsoring matchmaking events to connect AT&T buyers with Hispanic suppliers.  

The USHCC believes that the merger of AT&T and T-Mobile will provide this nation and our constituents with a multitude of opportunities and urges our government to support ventures that create jobs and directly contribute to the economic recovery of our country.

About the United States Hispanic Chamber of Commerce (USHCC)
Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of nearly 3 million Hispanic-owned businesses in the United States that generate nearly $400 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers in the United States and Puerto Rico. For more information, visit www.ushcc.com.

SOURCE United States Hispanic Chamber of Commerce

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED