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+--- Thread: Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? (/showthread.php?tid=88957)
Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? - Doc - 12-04-2009
http://gawker.com/5418425/time-inc-will-pay-you-promptly-if-you-pay-them-for-the-service
A tipster forwarded us an e-mail that Time Inc. freelancers got this week from JPMorgan, which administers the company's invoicing. Under the cheery subject heading "Time Inc - Accelerate payments at year end!", it outlined the company's PayMeNow program, whereby you can speed up payment of your invoice for a fee, kind of like when you get a payday loan at the check cashing place down on the corner so you can afford to buy lottery tickets for the week...
Given how desperate freelancers are to be PAID NOW, largely because companies like Time Inc. never pay them on time, this is a pretty genius idea. In fact, if you take it to its logical conclusion, Time could just pay its freelances nothing instantly, thereby significantly reducing its content costs.
I used to do freelance work for a big publisher a couple of decades ago. After it took more than 4 months for them to send me my first two checks, I came to an arrangement with the editor where he promised that he'd write out my checks, himself, when my work was approved and sent to typesetting and composition. He always dragged his feet on it so that there was at least a 2 month lag between approval of my work and my getting each check.
They still owe me money.
I'd take 2% off of my rates if it meant that I had a guaranty that I'd get paid within a reasonable time-frame... but IMHO, that's something that should be independently negotiated, not something that should be policy across-the-board. Also, I'd add a clause that if I gave them a discount and they failed to deliver in a timely fashion they'd owe me the original amount plus a late-fee.
Re: Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? - Surfrider - 12-04-2009
This blows, you have to pay a service to make the big company uphold the deal you aready made.
IT BLOWS!!!!!
As a graphic designer it's getting harder and harder for people to grasp the fact that they need to PAY for services.
Re: Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? - Lux Interior - 12-04-2009
So, lemmee get this straight...
You do work for them and they owe you money for the work...and now they say, if you PAY us, we'll pay you faster?
Sounds like extortion to me.
Re: Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? - lafinfil - 12-04-2009
It sucks and they should be called on it.
"I'd take 2% off of my rates if it meant that I had a guaranty that I'd get paid within a reasonable time-frame"
I had a couple clients that were slow payers so I started marking up the invoices 10%
and then offered a 5% discount for payment in 21 days.
This works if the invoice goes through an actual accounting department because
the accounts payable folks are usually looking for discounts on the invoice. It doesn't work
so well with smaller firms especially if the person responsible for passing on the invoice
lets it sit on their desk
: -(
Re: Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? - GGD - 12-04-2009
Lux Interior wrote:
they owe you money for the work...and now they say, if you PAY us, we'll pay you faster?
Sounds like extortion to me.
Sounds more like a Nigerian scam.
Re: Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? - Racer X - 12-04-2009
My invoices are net 30 days. If I have to send a second invoice, I follow up several days later and ask if I need to notify my "boss" that I am not being paid, and am unavailable to work as I am not getting paid. Works every time.
Re: Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? - mrbigstuff - 12-04-2009
So, you mean I should pay these invoices sitting on my desk now? (no, they're not "freelancers," but vendors nonetheless).
Re: Time, Inc. - Business-As-Usual or Despicable Sleaze Bags? - cbelt3 - 12-04-2009
Whiiiiiiinnnneeeee !!!!!
This is NORMAL Business practice.
When I ran a cleaning business, one of my customers was IBM. They came 'up' with this 'great idea' when we were negotiating next year's contract. If I 'discounted' my price by at least 1.5 %, I'd get paid in 15 days instead if their normal 45+ days.
So, like a red blooded American businessman, I raised my rates 3.0 %, and offered them their 1.5% 'discount'. Got paid every time.
Every bureaucracy in a large biz wants to get points for 'cutting costs'. If you're smart, it's a profitable arrangement. Just raise your rates a bit. Next !