Magic Johnson at Toyota's Opportunity Exchange

Former NBA player Earvin ‘Magic’ Johnson was the keynote speaker at the 20th Toyota's Opportunity Exchange at the Duke Energy Center in Downtown Cincinnati yesterday. Johnson, who is the Chairman and Chief Executive Officer of Magic Johnson Enterprises, owns various movie theaters and restaurants in the United States.

Furthermore, Johnson, who is known worldwide for his 13 year career with the Los Angeles Lakers, is also Vice President and part owner of the renown basketball club. In fact, his involvement in this strategic partnership and endorsements qualified him as the perfect man for the job at Toyota's event.

Opportunity Exchange, one of the largest minority business events in the country, is designed to provide minority business enterprises (MBEs) with the opportunity to network and develop contacts with Toyota's direct suppliers. To date, the event has resulted in over $150 million worth of new contracts for minority-owned businesses.

The event has grown from 100 guests to over 1,900 participants annually in the last 20 years. More important, Opportunity Exchange seems to benefit both sides. According to the Toyota North America, this has helped generate new business for MBEs but it also continues to help direct suppliers diversify their own supply base.

"From a business perspective, we believe diversity provides a path to our long-term business success," said Tetsuo Agata, president and COO of Toyota Motor Engineering & Manufacturing North America, in a statement for the press. "Our commitment to diversity recognizes the importance of developing a supply team which reflects our customers and team members throughout North America."