Apple signs on to Obama’s ‘SupplierPay’ program

“The Obama administration said Apple Inc., Coca-Cola Co. and about two dozen other companies are signing on to a White House effort to speed payments to firms down their supply chains, a move intended to boost cash flows and increase investment at smaller businesses,” Jeffrey Sparshott reports for The Wall Street Journal.

“President Barack Obama on Friday is set to announce SupplierPay, a voluntary program in which companies commit either to pay small suppliers faster or help them get access to lower-cost capital,” Sparshott reports. “The program will ‘strengthen small businesses by increasing their working capital, so they can grow their businesses and hire more workers,’ the White House said in a statement.”

“SupplierPay builds on the federal government’s QuickPay program started in 2011. It sets a goal of having small-business contractors get paid within 15 days of delivering a product or service. Quicker payments can strengthen small companies’ cash flows and make them less likely to need to borrow,” Sparshott reports. “SupplierPay is designed to be a private-sector counterpart to the federal programs, the White House said.”

Read more in the full article here.

14 Comments

    1. Capitalism without some regulation will always cave into the wants of those with the insatiable greed required to top the capitalism pyramid.

      Unbridled capitalism is essentially corporate dictatorship.

      1. “Unbridled capitalism”?? Well, we have not had that for at least 100 years. For the past 20 years all we have had is “all bridle and no capitalism”. The entire subprime world threatening bank meltdown was created by the “bridlers” who forced banks to loan money to people with no regard to creditworthiness. Then an entire financial sector was created to sell these bad mortgages hidden inside of “investments” called CDOs so the originating bank could walk away from what it knew would blow up. All due to brainiacs like Barney Frank and Christopher Dodd. The “regulators” who created the subprime crisis. Now, an energy crisis is being created by Barack Obama who is shutting down most all of the perfectly good coal fired power plants because it makes him and his wacko environmental friends feel good. Soon, it will cause unaffordable heating and cooling bills for poor Americans everywhere, but Obama and Democrats don’t give a shit except about “feeling good” about the “bridles” they put on “unfettered capitalism”. The regulations of Democrats are far worse in what they do to the poor than anything done by a unbridled capitalist.

        1. That’s a monumentally clueless, talking-points rewrite of history you’ve done there, kent.

          If you take off the blinders, stop demonizing anyone who doesn’t agree with you, and start thinking rationally, I’ll bet you could come up with something quite useful to say.

          1. You obviously know clueless. Those are the facts whether you like them or not. The subprime crisis happened when the government forced banks to make loans that in the past would not have been approved. The government created “no document and no job” loans. It was a mandate in fact pushed by our current President. You really ought to read something besides the New York Times and DailyKos if you want to be aware of reality.

            1. Sorry kids, but there’s a lot more to REAL capitalism than ever gets discussed around here. I’ve never found this to be the venue for discussion of that poorly understood subject. It ALWAYS turns into a cluelessness competition soaked in politics. It’s very a very nauseating concoction.

  1. I like that this is voluntary and will directly benefit small business without government subsidy or tax manipulation. Very creative recruitment of free enterprise resources.

  2. I have great ideas. Freedom, God, individual responsibility, government respect for private property, limited government based on the Constitutional structure and the federal system, actual departmental budgets that are not increased annually, all federal employees have 401k retirement plans like private industry (no defined benefit plans), end of unions in public education, right to work made law in every state, no deficit spending, federal bureaucrats subject to civil lawsuits for harm caused to citizens through over zealous actions, recall elections for Presidents, no federal court can overturn a statewide initiative, no law can be passed that is more than 10 pages in length and all laws must apply equally to all citizens including legislators, judges and executive branch (no exemptions as were granted in ObamaCare), sunset applied to agencies that are not re authorized by Congress after their first 5 years in existence, reduction of the Federal Code to a maximum of 10,000 pages, elimination of the IRS and replacement with a 10% flat tax on all, no deductions and no exceptions.

    That is good for a start. All these things would help everyone and all are opposed by Democrats.

  3. I like how statements like this “program will ‘strengthen small businesses by increasing their working capital, so they can grow their businesses and hire more workers” always make it into the announcements, when in reality the extra money will not go for more workers unless there is more work, but will go into the pockets of the owner \ executives.

  4. I’m having a hard time wrapping my head around the purpose of making this a government program. What do companies like Apple get in return for signing onto this and why do they need a govt. program to pay their suppliers quicker? There seems to be a capital access component to this as in the program gives access to cheaper loans for suppliers. Not exactly sure what that means but as they say, follow the money..

    1. What do the corporations get? They get a better America. For gods sake money is not everything and it does not hurt for the public to know some companies like fairness for all.

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