Local Business Leaders Assemble to Address Issues Critical to Fighting Poverty in Los Angeles County

LOS ANGELES, June 3 /PRNewswire/ -- United Way of Greater Los Angeles today will host its Third Annual Corporate Philanthropy Summit, an event designed to motivate corporate leaders to work with the public and nonprofit sectors to reduce poverty in Los Angeles County, while strengthening their businesses at the same time. The event also recognizes the top United Way corporate and civic partners that exemplify strong corporate philanthropy in Los Angeles. Keynoting the luncheon will be Dominic Ng, Chairman and CEO of East West Bank, followed by a panel discussion with business and community leaders -- including John Sotoodeh, from Wells Fargo; Jana Waring Greer, from SunAmerica; and Denita Willoughby, from AT&T. The panel will discuss the ways businesses can be socially responsible in a down economy and impact the needs of our community. In addition to examining how the current economic conditions are impacting poverty in Los Angeles County, the panel will address how businesses can communicate the notion of social responsibility to employees, customers and other stakeholders.

"The current financial landscape has made companies more fiscally conscious, and any dollar spent is subject to public scrutiny," said Dominic Ng, Chairman and CEO, East West Bank. "But these economic conditions make it even more imperative for businesses to be engaged in the community and work together to improve the current conditions. If we leverage same-sector and cross-sector alliances and work with elected officials to impact federal support, leading local businesses can continue to improve the quality of life for all those in our community."

After the keynote by Dominic Ng, the panel discussion will take a closer look at the critical issues affecting the quality of life in Greater Los Angeles. Panel topics will include the impact of the financial crisis on housing; how to help families build assets and financial stability; education reform and how the public and private sectors are aligning to fight poverty.

"It is possible to be successful in business and give back to the community, and research shows that regions that make more progress on reducing poverty and inequality actually grow faster and stronger than others," said Elise Buik, president and CEO, United Way of Greater Los Angeles. "The steps forward that we have taken with education improvements and workforce training are an important reminder to our partners that individual, civic and corporate social responsibility is a must to improve the quality of life in the county. While we have seen positive steps toward change, the Los Angeles business community will not thrive unless more progress is made. It's our city, and our future at stake."

Details of United Way's Corporate Philanthropy Summit:

About United Way of Greater Los Angeles

United Way of Greater Los Angeles is a nonprofit organization that creates pathways out of poverty by helping homeless people move into housing, providing students with the support they need to graduate high school prepared for college and the workforce, and helping hard-working families become financially stable. United Way identifies the root causes of poverty and works strategically to solve them by building alliances across all sectors, funding targeted programs and advocating for change. For more information, visit www.unitedwayla.org.

SOURCE United Way of Greater Los Angeles