But no belt tightening in the stelter household.
When I was a freelancer (fancy word for temp lol) in Manhattan, if a graphics employment company told me i had to wait more than 14 days for the first check I wouldn’t have even met with them.
90 days is hysterical :)
Unless this is the nature of this business then it sounds like a company in financial straights. Or perhaps there is some other reason I do not know about.
Not familiar with the industry.
I’m going to assume that with their ratings at dreadful lows, maybe advertisers are finally becoming reluctant to put money in a business with a limited overall audience. It may simply be about cash flow.
Definitely something.
Since they are a fully owned subsidiary of Warner and through them of AT&T, its nothing as obvious as cash flow.
Possibly budget problems, or they want to make the books look better for impending sale.
But no belt tightening in the stelter household.
And (not directed to you, but to the article) Net 90 doesn't mean a paycheck each 90 days. It's an "up front" wait of 90 days, after that, payments roll in at the same clip the invoices rolled out 90 days ago.
“90 days is hysterical :)”
__________________________________
Hi, dp0622-
I think CNN is really beginning to feel the bind.
Right now they’re determined to stave off any real big trouble, hoping to catch a wave if Pres Trump gets into any big trouble with his base.
Financially, though, helping CNN isn’t like being able to hide money for Antifa or other dangerous groups via donations.
I’m hoping they are going to have even more trouble down the road.
And as for their ‘freelancers,’pfffft-!
Bit by bit, those ‘freelancers’ choose to tear our country down because of their own vile wishes. Let them eat their own wishes and see how good it is for them!
AT&T has a high debt load, but I understand that they are in pretty good shape.
Also not familiar with the industry and can tell you these terms are very close to how many general contractors in the construction industry treat their subcontractors. The subs effectively become part of the general contractor’s project financing plan. As others have noted, all it really does is run up costs because the subs start making allowances in their bids and especially on the change orders to make up for the cost of funds.
I would argue that a CNN freelancer has no place else to go. Net 90 is better than starving
The real question to be asked....... will they have the money to pay me in 90 days?
They need to stiff someone (individuals, not vendor companies) who doesn't report to the credit bureau or to Dunn & Bradstreet.