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.
The funny part was when a stoner offered President Obama a joint.
“HEY CHIEF-of-STAFF, You wanna hit dis?”
Probably no funnier than someone offering Bush Jr an alcoholic drink.
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.
Don’t be so sure. They lined up behind W.
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.
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.
I love how the picture shows Obama doing nothing. That’s what he’s best at: nothing.
Actually, the billiard forums covered this last week and it was discussed that for a man as busy as he must be, his billiard game is fairly good with decent form.
There is a billiard forum?
He’s great at golf and pool. It’s his job that he’s struggling a wee bit with.
Ready, set, let the sophomoric humor begin. Just like everyone else, I too miss high school.
Even Canadians are hip to this inept civil servant.
Inept, malevolent; six of one, half dozen of another. YMMV.
Two Words, Johnny Canada: Mayor Ford.
He is exactly what the American majority wants. Don’t blame the symptom.
Exactly!
Wanted, if you’ve seen his poll numbers recently I think it’s pretty clear his expiration date has been reached. Even the clueless can learn.
His approval numbers at this stage are not exactly bad. Most Presidents have a mid term drop.
You are right, the majority did want expanded health care coverage (from an economic and moral case), economic growth with a project deficit by 2016 of just over 2%, no new wars.
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.
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”.
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.
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.
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!
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.
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.