By on July 14, 2014

Barack Obama playing pool

A number of U.S. and multinational corporations met with President Barack Obama Friday to shine a light upon their pledge to pay their suppliers within 15 days as part of an initiative to help small businesses expand and bring on more employees.

Automotive News reports representatives for Nissan, Toyota and Honda, including Honda North America executive vice president Rick Schostek, were in attendance for the 90-minute meeting about the pledge, based upon a similar program with government contractors, whereupon the federal government promises to quickly pay its contractors if the latter does the same for the smaller suppliers that help them.

The original initiative affected 172,000 small businesses, bringing $1 billion for workforce investment since its launch in 2011. Friday’s meeting was to reaffirm the pledge, as well as to introduce the program to the public sector.

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25 Comments on “Japan Three, Others Meet With President Over Supplier Aid Pledge...”

  • avatar

    The funny part was when a stoner offered President Obama a joint.

    “HEY CHIEF-of-STAFF, You wanna hit dis?”

    • 0 avatar

      Probably no funnier than someone offering Bush Jr an alcoholic drink.

    • 0 avatar

      The funny part is when someone refers to the guy as a ‘stoner.’ Seriously, wander around on South Broadway most weeknights.

      The funny part would have been the collective implosion of the conservative establishment had he taken it.

      • 0 avatar

        Don’t be so sure. They lined up behind W.

      • 0 avatar

        I may be one of the few Black Conservative Republican men who rarely ever drinks alcohol and HAS NEVER SMOKED TOBACCO or WEED and has no desire to. Obama and Clinton were stoners and Bush “went back to drinking”.

        I could probably run this country better than all 3 of them.

        A HEMI in every driveway.

        • 0 avatar

          In other news, Ford is reported to be seeking Mr. BTRS for interviews and a scientific study to determine if the technology behind the massive stick up his ass can be used to strengthen the rigidity of their Aluminum truck beds.

          Also, Hybrids/Chinese Battery Suppliers/EGOBoost.

  • avatar

    I love how the picture shows Obama doing nothing. That’s what he’s best at: nothing.

  • avatar
    Jeff Waingrow

    Ready, set, let the sophomoric humor begin. Just like everyone else, I too miss high school.

  • avatar
    Johnny Canada

    Even Canadians are hip to this inept civil servant.

  • avatar

    He is exactly what the American majority wants. Don’t blame the symptom.

  • avatar

    Usual ODS from the usual suspects here. Lot of under-employed RW folks I guess.

    What about some comments regarding what the post is about?

    I applaud this action , big business floating their operations at NET 60, 90, 120 is severely crimping small companies.

    Companies like this are nothing but parasites!

    I work for a small independently owned business and we see this kind of crap all the time, fortunately we build kind of a unique item and so mostly reject anything over NET 30 nowadays.

    • 0 avatar

      I’ll agree with this; a lot of larger orgs are stretching payables terms, and/or implementing some pretty harsh compliance rules (Walmart, ahem) that basically see their operations subsidized by their suppliers.

      It’s pretty unpleasant, but there’s no real alternative; either “sell now get paid later” or “sell never get paid never”.

    • 0 avatar

      Bravo, I applaud you sir. That was my first thought as well. I work for a small firm where NET 30 is pretty much standard practice.

      Your statement mirrors my own thoughts on reading this. Getting past the usual “Obama sucks” noise, I wonder if this will one day make NET 15 standard practice.

    • 0 avatar
      schmitt trigger

      Either that, or add an extra markup to cover for the longer payment terms.

      Some companies go to extreme accounting shenanigans to “improve” their reported numbers.
      In a company I used to work for, there were payments blackout dates prior to end-of-quarter, to show a good cash flow number.

      • 0 avatar

        If we receive an RFQ with longer payment terms clearly stated we will add a “additional terms” markup.

        It’s the ones that try to sneak it under the radar in the T&Cs after pricing and delivery has already been set that tick me off.

        We pay all our suppliers by credit card or NET 15/30 just like the federal government. No exceptions!

  • avatar

    Some of the other photos from this Denver event showed several women grinning away taking cell pic’s of the Chief’s backside while he played.

    It’s a little late to run against him though, but … par for the GOP course. Count me as a fan of whatever impact he’s had on the improved market, economy, employment and fewer servicemen and women overseas.

    I doubt 8 years from now he’ll be known for painting his feet in the bathtub.

    • 0 avatar
      el scotto

      Nope, the President; not Mr. Obama, Thank You and no I didn’t vote for him either chance, and I are roughly the same age. Expect at least one book and a healthy career on the lecture circuit. President Bush was old enough to retire and slipped away to Crawford, TX. Bush is rich; expect Obama to retire rich.

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