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Author Topic: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT  (Read 821 times)

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Offline Right_in_Virginia

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CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« on: June 02, 2019, 03:02:06 pm »
CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
Daily Caller, May 30, 2019

CNN is reportedly set to impose a “net 90” payment term on freelance employees beginning in June, meaning the company’s freelancers will be paid just once every three months.

“In a blow to their financial stability, CNN sent a letter to several of the network’s freelancers this week, extending their payment terms to net 90 (payment 90 days after invoice).

The move has met with significant blowback.

“Net 90 is NOT a reasonable payment term for people who must pay rent every 30 days,” Freelancers Union Executive Director Caitlin Pierce wrote on Thursday. “CNN is effectively asking freelancers to finance the cash flow of a multi-billion dollar company by waiting one quarter of a year for payment.”


More:  https://dailycaller.com/2019/05/30/takala-cnn-payment/
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Offline Right_in_Virginia

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #1 on: June 02, 2019, 03:03:33 pm »
How much money is their hate Trump crusade costing them?   :pondering:
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Offline sneakypete

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #2 on: June 02, 2019, 03:48:21 pm »
Yeah,I don't see that working out well for them. Even dirtbag leftist reporters have bills to pay and need to buy food.
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Offline ABX

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #3 on: June 02, 2019, 04:57:01 pm »
Ouch. I'm net 15 for small business, net 30 for large. Net 90 is just hoping someone forgets.
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Offline Cyber Liberty

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #4 on: June 02, 2019, 05:28:01 pm »
Freelancers are the Journo equivalent of "day laborers."  Net 90 is not appropriate for day labor.
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Offline sneakypete

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #5 on: June 02, 2019, 06:10:01 pm »
I'm wondering if there is some sort of state or feral law that makes this illegal?

Wouldn't it be fun to watch a bunch of leftist reporters take CNN to court and sue them for back wages?
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Offline austingirl

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #6 on: June 02, 2019, 06:16:49 pm »
Money problems, CNN? Too bad, so sad.
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Offline Free Vulcan

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #7 on: June 02, 2019, 08:25:50 pm »
Sounds like some cash flow issues.
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Offline Cyber Liberty

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #8 on: June 02, 2019, 08:38:06 pm »
Quote from: Free Vulcan on June 02, 2019, 08:25:50 pm
Sounds like some cash flow issues.

Ya think, DiNozzo?
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Offline ABX

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #9 on: June 02, 2019, 08:52:09 pm »
Quote from: austingirl on June 02, 2019, 06:16:49 pm
Money problems, CNN? Too bad, so sad.

That is very likely the issue. It costs to keep invoices on the books. They are likely delaying as many expenses until after they report quarterly earnings after this month to make the balance sheet look better.
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Offline ABX

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #10 on: June 02, 2019, 08:53:08 pm »
Quote from: sneakypete on June 02, 2019, 06:10:01 pm
I'm wondering if there is some sort of state or feral law that makes this illegal?

Wouldn't it be fun to watch a bunch of leftist reporters take CNN to court and sue them for back wages?

Federally and at least for Texas, not for contractors, only employees.
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Offline Right_in_Virginia

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #11 on: June 02, 2019, 08:57:35 pm »
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Offline Cyber Liberty

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #12 on: June 02, 2019, 09:13:22 pm »
Quote from: ABX on June 02, 2019, 08:52:09 pm
That is very likely the issue. It costs to keep invoices on the books. They are likely delaying as many expenses until after they report quarterly earnings after this month to make the balance sheet look better.

I worked for another large corporation, cash flow is why they do it originally, but spiffing up balance sheets for a Quarterly is an addictive drug that carries a lure.  When a company starts doing that to make the accountants happy it becomes SOP in short order, and then a new search to "cut costs" (layoffs or, in the latest parlance, "Reductions in Force"). 

Rinse and Repeat until the company looks like Motorola.
« Last Edit: June 02, 2019, 09:21:00 pm by Cyber Liberty »
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Offline Cyber Liberty

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #13 on: June 02, 2019, 09:17:55 pm »
Quote from: Right_in_Virginia on June 02, 2019, 08:57:35 pm
NYC's Freelance Isn't Free Law

https://www1.nyc.gov/site/dca/workers/workersrights/freelancer-workers.page

Good link, @Right_in_Virginia!

It would be interesting to see what's written in the contract with the Freelancers Union mentioned in the article.  30, 60 or 90 days could be in the contract.  CNN may have a problem if they just sprang this on the freelancers.
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For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
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Offline sneakypete

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #14 on: June 02, 2019, 11:39:48 pm »
Quote from: Right_in_Virginia on June 02, 2019, 08:57:35 pm
NYC's Freelance Isn't Free Law

https://www1.nyc.gov/site/dca/workers/workersrights/freelancer-workers.page

@Right_in_Virginia

Quote
The hiring party must pay you for all completed work. You must receive payment on or before the date that is in the contract. If the contract does not include a payment date, the hiring party must pay you within 30 days after you complete the work.



Looks to me like CNN will be breaking labor laws.
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Offline Cyber Liberty

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #15 on: June 03, 2019, 12:35:47 am »
Quote from: sneakypete on June 02, 2019, 11:39:48 pm
@Right_in_Virginia

Looks to me like CNN will be breaking labor laws.

@sneakypete

Unless the Union contract allows for 90 days.
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For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
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Offline Right_in_Virginia

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #16 on: June 03, 2019, 01:14:17 am »
Quote from: Cyber Liberty on June 03, 2019, 12:35:47 am
@sneakypete

Unless the Union contract allows for 90 days.

What Union Contract @Cyber Liberty ?
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Offline sneakypete

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #17 on: June 03, 2019, 01:14:30 am »
Quote from: Cyber Liberty on June 03, 2019, 12:35:47 am
@sneakypete

Unless the Union contract allows for 90 days.

@Cyber Liberty

True,but unions aren't know for being that generous with employers.
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Offline Cyber Liberty

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #18 on: June 03, 2019, 01:25:59 am »
Quote from: Right_in_Virginia on June 03, 2019, 01:14:17 am
What Union Contract @Cyber Liberty ?

FTA (4th paragraph)

Quote
“Net 90 is NOT a reasonable payment term for people who must pay rent every 30 days,” Freelancers Union Executive Director Caitlin Pierce wrote on Thursday.

I didn't know they had a Union, either, until I saw this article.
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For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:

Offline Cyber Liberty

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #19 on: June 03, 2019, 01:27:06 am »
Quote from: sneakypete on June 03, 2019, 01:14:30 am
@Cyber Liberty

True,but unions aren't know for being that generous with employers.

@sneakypete

Depends on the Union, I suppose.   :shrug:
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For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:

Offline Right_in_Virginia

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #20 on: June 03, 2019, 01:32:53 am »
Quote from: Cyber Liberty on June 03, 2019, 01:25:59 am
FTA (4th paragraph)

I didn't know they had a Union, either, until I saw this article.

I missed that ... thanks.  Looks like the union's not happy about the net 90. 

It'll be interesting to see how CNN reacts.
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Offline Cyber Liberty

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Re: CNN TO START MAKING FREELANCERS WAIT 3 MONTHS FOR PAYMENT
« Reply #21 on: June 03, 2019, 01:36:35 am »
Quote from: Right_in_Virginia on June 03, 2019, 01:32:53 am
I missed that ... thanks.  Looks like the union's not happy about the net 90. 

It'll be interesting to see how CNN reacts.

And the State of NY as well.  A lot of these freelancers live there.
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For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:
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