Obama Gets 26 Companies Committed to Help Suppliers
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President Barack Obama will announce today that 26 companies including Apple Inc., Johnson & Johnson and Coca-Cola Co. are committed to speed payments to their suppliers that are small businesses.
The White House said in a statement released this morning that the faster payments will provide more working capital for suppliers to invest in new equipment and new hiring. The participants also have the option to offer financing to help suppliers cut their costs.