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Fortune names top companies for minoritiesMcDonald's tops list
(CNN) -- Fortune magazine has released its list of the 50 Best Companies for Minorities, and McDonald's came out on top. The magazine compiled the list from questionnaires that were sent to companies on the Fortune 1,000, as well as the 200 largest privately held U.S. companies. In all, 141 companies responded to the survey, Fortune reported. The list was based on five key criteria: Pay -- Number of minorities among the 50 highest paid employees, Managerial diversity -- Percentage of minority managers and other officials, Purchasing -- Percentage of total purchasing from minority-owned businesses, Boards --Number of minorities on the company's board of directors, Work force -- Percentage of minority employees. The survey also looked at other factors, including whether or not minority workers are promoted into management at the same rate as white workers, managers are held financially accountable for meeting diversity goals and what percentage of corporate charity went to programs that benefit minority groups. Here are the top 10 as reported by Fortune: 1.) McDonald's: Minorities make up more than half of the work force (52.6%) and 36 percent of the managers and other officials at the fast-food giant. There are two minorities on the company's 16 member board, and 10 of the 50 highest-paid workers are minorities. The company had the highest percentage of minority-owned franchises in the quick service food industry, and 35 percent of its purchases were from minority-owned firms. 2.) Fannie Mae: Mortgage services company Fannie Mae had five minority members on its 17-member board and 11 of its 50 highest-paid employees were members of minority groups. Almost 44 percent of the company's workers and 33 percent of managers and officers are minorities. The company offers diversity training to its partners, customers and other businesses and 12 percent of its minority workers participate in a mentoring program. 3.) Denny's: The restaurant chain, which faced racial discrimination charges for years, now has three minority members on its nine-member board and 46 percent of its franchises are owned by minorities. It had the highest proportion of employees undergoing diversity training of any of the companies surveyed. Almost 47 percent of Denny's employees, and almost 29 percent of its managers and officials were members of minority groups. 4.) Union Bank of California: Members of minority groups make up almost 39 percent of the ranks of officers and managers at the San Francisco-based bank. Three members of bank's 12-member board of directors and two of its 50 highest-paid workers are minorities. Members of minority groups make up more than 55 percent of the company's work force. 5.) Sempra Energy: The San Diego-based energy services company has four minority members on its 14-member board. Almost 48 percent of the company's work force and 29 percent of its management and officials were minorities. 6.) Southern California Edison: The utility makes more than 20 percent of its purchases from minority-owned suppliers. It has two minorities on its 11-member board and nine minorities among its 50 highest-paid employees. Almost 44 percent of its employees and 28.5 of its officers and managers are minorities. 7.) SBC Communications: Three members of the company's 21-member board and seven of the company's 50 highest-paid workers are minorities. Minorities make up almost 38 percent of the work force, and over 46 percent of its new hires in 2002. 8.) Freddie Mac: The mortgage financer has three minority members on its 18-member board and eight among its 50 highest-paid. More than 32 percent of its work force and 28 percent of its officials and managers are minorities. 9.) PepsiCo: Pepsi has worked with churches and community leaders in minority communities as part of its marketing efforts. The company has four minority members on its 14-member board and eight minorities among its 50 highest-paid employees. Minorities make up almost 27 percent of the company's work force and just over 17 percent of management. 10.) PNM Resources: The energy supplier has three minority members on its 10-member board and 16 of its 50 highest-paid workers are minorities. Almost 48 percent of its work force and 35 percent of its officers and managers are minorities.
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