I had a vendor that put me on net 60. Six months later it declared bankruptcy.
Would anyone shed a tear, if the same thing happened to CNN?
I had a VC-funded startup who twice stretched its contractors to 90 days on payments. The second time, it declared bankruptcy. The VC guys were still wealthy—they just screwed the contract employees at their investment as it went bad.
The whole “gig” economy is about stuff like this, including sub-minimum wage piece work. Yet Trump has not only not made a dent in the 40 million illegals here presently, he and his scum SIL are pushing for more legal immigrant workers than ever.
What our economy needs is in fact a tighter labor market so even low-skill workers are paid more and work that can only be justified at a ridiculously low level of pay isn’t even in play anymore.
Changing to Net 60 or Net 90 is a big red flag that they are having cash flow problems.