Obama, corporate giants announce plan to boost suppliers

Comments (11)
JustProduce wrote:

Mr. President, hiring decisions are seldom made when cashflow statements improve. It is the P&L that drives hiring. But I guess that any photo op is better than nothing when you’re swimming upriver in public opinion polls. Stop campaigning. It is your regulation threats that has frozen the banking system. That is where the real fire power is. As soon as banks know that they will not be put out of business by you, they will begin releasing the fuel the economy needs. You would think the connection would be an easy one to make. Incredible.

Jul 11, 2014 6:55am EDT  --  Report as abuse

Everyone likes to get paid so I suppose that this isn’t a bad idea. Accountants have a term for this money: Accounts Receivable. If your small business is solvent I don’t see that this is a huge problem.

Why not just let the supplier draft a special account immediately on delivery of the product or service?

Jul 11, 2014 7:02am EDT  --  Report as abuse
Overcast451 wrote:

Oh, I’m sure big business is all behind their small business competitors.

**You can fool some of the people all of the time (partisans), and all of the people some of the time, but you can not fool all of the people all of the time.
~Abraham Lincoln
**

Jul 11, 2014 8:42am EDT  --  Report as abuse
Bernie777 wrote:

Great idea, at least one branch of our Federal government is doing their job.

Jul 11, 2014 11:11am EDT  --  Report as abuse
fred5407 wrote:

Yah know, being a small businessman, the Government can do very little. With all the special government handouts to natives, minority businesses, and political contributor handouts this thing is a sinking ship. This is no fight between Obama and Congress. They all are part of the problem of the waste of taxpayer dollars. Its all Bull Crap promises as usual with a few more lies mixed in.

Jul 11, 2014 11:47am EDT  --  Report as abuse
willich6 wrote:

My company, on average, gets paid 30 days after we invoice and we can only invoice once a month. This means that at best I have a DSO (Days sales outstanding) of 45 days – usually higher. No way am I going to pay my small suppliers in 15 – not going to happen..

Jul 11, 2014 12:08pm EDT  --  Report as abuse
commsense wrote:

justproduce. you apparently have no clue what this plan intend to do. when you pay a small business faster, it allows them the funding to invest, to pursue other contracts etc. while you continue to fault the president, you fail to blame the republicans led congress, that has effectively not done a single thing for five years. but i am sure it is easier to hate, than support any effort to continue to move the economy forward.

Jul 11, 2014 12:30pm EDT  --  Report as abuse
xit007 wrote:

Commonsense – I was giving you credit for your dissent until you pulled the hate/race card. If anyone disagrees with this president – they are racist. this is the lowest form of discourse – please change your User ID – to partisanbigot. Unless you are being paid then Partisantroll will do fine.

Jul 11, 2014 12:51pm EDT  --  Report as abuse
tmc wrote:

What a load of crap. This will not even be noticeable. Waste of time. Changes nothing. So I have money fifteen days faster than usual, how does that change anything? To invest? for fifteen days? Really? Invest in what? Pursue other contracts? What, a fifteen day contract?
Just a photo op….

Jul 11, 2014 1:48pm EDT  --  Report as abuse
ARJTurgot2 wrote:

Decreasing the amount and time in receivables should allow any business to reduce its carrying costs, and eventually that will contribute to improved profitability. The improvement is marginal, but it is an improvement. That said, it hardly merits a press event by the President. It’s pathetic that one side sees it as significant, and the other as overreach. Were the Department of Commerce well run, a middlin’ level exec could have/should have done this years ago.

Jul 11, 2014 2:33pm EDT  --  Report as abuse
111Dave111 wrote:

House Votes For Tax Breaks To Add $287 Billion More To Deficit 07/11/2014 *** Today ***
WASHINGTON — The GOP-led House of Representatives embraced a former stimulus measure Friday, voting to make it and another related tax cut permanent, adding $287 billion to the deficit over the next 10 years.
The largest part of the cut, worth more than $263 billion, is making permanent so-called bonus depreciation, which allows businesses to write off the cost of capital investments and improvements much more quickly.
It was enacted twice during the administration of President George W. Bush, and the most recent version expired last year. The idea behind it is that if lawmakers give businesses a break during tough economic times, they will speed up major equipment purchases and stimulate economic activity. “Even as a stimulus, the analysis shows that for every dollar that is invested we get 20 cents of growth,” said Rep. Lloyd Doggett (D-Texas), a member of the Ways and Means Committee.

Of course it isn’t ‘paid for’ or likely to be enacted.

Jul 11, 2014 8:25pm EDT  --  Report as abuse
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