Marketplace for Friday July 11, 2014
Reynolds and Lorillard, two big cigarette companies, are merging. You might think that with all the bans on smoking in bars, restaurants and public spaces, the cig business would be pretty small these days. But the fact is cigarettes are still huge, including in the US. We look at what this kind of merger means for smokes. Also, the White House is announcing a program to get companies to pay their small-business suppliers faster. Apple, Honda and Coca-Cola are among the 26 companies that have agreed to pay small businesses they contract with for parts and services faster – ideally within 15 days. We ask a small business owner how much of a difference does it make if they get paid a few days or a few weeks sooner. Plus, Eileen Ford, who created the Ford Agency, and along with it the modeling business as we know it—including the Supermodel--died yesterday. We look at how she made modeling an industry. And finally, an an itsy-bitsy, teeny-weeny new installment to our "Summer Brought To You By" series.