During General Motors’ annual shareholders meeting in Detroit this past Thursday, Rev. Jesse Jackson was in attendance and had a few things to say. Jackson criticized the automotive giant for their lack of African American-owned dealerships. Out of GM’s 4,000 dealerships, African Americans own 36 of them.
“We saw the first African American dealership in 1966 — 40 plus years ago. This is a very slow progress,”said Jackson during the meeting.
It was obvious that Jackson was upset with the stagnant progress of GM’s increase in diversity. Jackson also challenged GM to invest in Africa. Africa is a place where emerging markets can create growth opportunities.
After Jackson spoke, Damon Lester, who is a stockholder and also serves as the president of the National Association of Minority Automobile dealers, voiced concern as well. “GM is near the bottom of automakers regarding minority-owned dealerships,” Lester sated.
“It’s inadequate. We understand that,” said Dan Akerson, GM’s CEO and chairman, in acknowledging the problem.
General Motors is taking steps in their diversity initiatives with programs like the Minority Dealer Development program. In this program possible minority dealership owners will get the needed assistance and guidance to grow their businesses.
“There are 198 minority dealers in our universe and it’s inadequate,” said Akerson.
Even with the steps GM is taking to try to increase the number of African American-owned dealerships, they still have a long way to go.
