MIT negotiates with black-owned firms, 1976
MIT administrators meet with black-owned life insurance company representatives, March 1976. Left to right: Kim Valentine, assistant to the treasurer; William J. Kennedy III, President of North Carolina Mutual Life Insurance Company; Chancellor Paul E. Gray; Clarence G. Williams, special assistant to the President and Chancellor for minority affairs; and Weather Y. Sykes, senior vice-president of Supreme Life Insurance, Co. of Chicago.
In March of 1976, MIT met with two of the nation's largest black-owned life insurance companies--North Carolina Mutual of Durham, NC and Supreme Life Insurance Company of America of Chicago. Under their negotiated plan, the Institute would transfer 10% of its group life insurance coverage with John Hancock Company to the two firms. Chancellor Paul E. Gray said the move was part of MIT's commitment to help minority companies play a greater role in majority American businesses.