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.
from The Truth About Cars http://ift.tt/Jh8LjA
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