ANNUAL REPORT 2006 - MEDA

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18 CHARLES W. POE AWARD ENTREPRENEUR OF THE YEAR Andy Wells Wells Technology, Inc. 2006 honors Andy Wells founded, owns and manages Wells Technology, a manufacturer of precision fasteners in Bemidji, Minnesota. A Native American who was born and raised on the Red Lake Indian Reservation, Andy has become a leader, not only for his company, but also for his community. Through a high emphasis on quality and craftsmanship, along with Andy’s astute decision-making and visionary leadership, Wells Technology has grown in sales from just under $1 million in 2004 to over $30 million this past year. He now employs 31 people, many from the reservation where living wage jobs are limited. Through sustained growth and invaluable mentorship from Fastenal, Wells Technology produces enough profit to fund one of Andy’s special interests – the Wells Academy, a nonprofit organization, which trains and employs Native Americans. Andy also gives back through his roles on numerous local boards, community councils, economic development efforts and as mentor to other entrepreneurs. Andy is well thought of and admired in his community, throughout his industry and the state. Among many honors, Andy has won the Eagle Award from the American Indian Chamber of Commerce and the American Indian Business of the Year from the United Indian Development Association. His customers’ high regard for Wells Technology is reflected in its award for “One Million Products with Zero Defects” from Hi-Lex Cable Company and the “Supplier Appreciation Award” from BAE Systems. MEDA congratulates Andy and looks forward to his continued success.
We are proud to honor Wells Fargo as Corporation of the Year for its unfailing support to MEDA in 2006. We share a long history. Wells Fargo is considered a founding organization through Phil Harris’ (Northwestern National Bank of Minneapolis) involvement in our original charter. The Wells Fargo Foundation has continually contributed to MEDA since the original request in 1971. In addition, several corporate executives have served on MEDA’s Board of Directors and Advisory Board. Currently, Marilyn Dahl serves as Board Chair and Debra Paterson serves on our Advisory Board. CORPORATION OF THE YEAR Wells Fargo Bank, Minnesota “Wells Fargo has shown again and again its commitment to making our community a better place to live,” says Yvonne Cheung Ho, MEDA President and CEO. “Carolyn Roby of the Foundation gives us words of encouragement and Sharon Garth works to find and nurture business opportunities for our clients.” Several Wells Fargo bankers, Dave Bendel and Rick Bonlender among them, also play key roles in advising our staff and clients. As a member of the MEDA Banking Consortium, Wells Fargo not only serves as a potential lender to clients, but also encourages its employees to volunteer their time at credit committees, help advise clients on financing decisions and assist in the professional management of the MEDA Loan Program. In addition to the over 100 hours of volunteer time donated, Wells Fargo team members attended MEDA events, sought new ways clients could do business with Wells Fargo and donated fabulous auction items to our annual Gala. MEDA thanks Wells Fargo, its management and the many employees of the company for their personal and corporate commitment to our mission of helping entrepreneurs of color succeed. Pictured above: l-r, George Jacobson, Stanley Jide , Scott Ochsner, Marilyn Dahl, Sharon Garth, Charles Chiefredo, David Bendel and Rick Bonlender 19
Page 1: Evening the Odds Envisioning Econom
Page 4 and 5: 2 “...the gold standard in busine
Page 6 and 7: 4 Marilyn Dahl Board Chair Leadersh
Page 8 and 9: 6 Business Consulting services MEDA
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Page 14 and 15: 12 Training & Leadership Developmen
Page 16 and 17: 14 In the Community Partnerships ME
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Page 22 and 23: 20 VOLUNTEER OF THE YEAR Steven Hei
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Page 26 and 27: 24 Financial Statements Independent
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Page 30 and 31: 28 Contributors General Operating S
Page 32 and 33: 30 Volunteers 3M Fred Harris John F
Page 34: Arlette Abrahmson PTAC Northern Are

ANNUAL REPORT 2006 - MEDA

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