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Is Laura Ingraham’s Media Company In the Middle Of A Financial Meltdown?

Saturday, February 25, 2017 10:33
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(Before It's News)

If you’ve read this far you already care a lot more than I do, but it is a dull-news Saturday and content is content.

The Associated Press has filed a lawsuit against Laura Ingraham’s Lifezette claiming that Lifezette is about $49,267 in unpaid licensing fees. Somehow Buzzfeed found time to report on this between worrying about gay sex in the age of Trump and making cat videos:

The complaint, filed on Friday in District of Columbia Superior Court, alleges that LifeZette entered into a year-long licensing agreement to use AP content in July 2015, agreeing to pay $4,200 per month. The AP says it suspended LifeZette’s account in February 2016 due to nonpayment.

AP is seeking $49,267 — $24,937.21 for the allegedly unpaid licensing fees, $17,674.50 for revenue that AP says it lost after it suspended LifeZette’s account before the end of the contract, $2,915.10 in interest, and $3,740.58 in attorney fees. The amount of the returned check is the sum of the unpaid fees and lost revenue that would have been covered by the contract.

Ever been in a company with major cash flow issues? Have you experienced those gut-wrenching times when you have to choose between making payroll, taking a salary yourself, paying vendors, paying your landlord, etc. I bring this up because of this factoid:

LifeZette did submit a check for $42,611, according to the lawsuit, but it was returned due to insufficient funds. A copy of the check, dated Jan. 16, 2017, from the account of Ingraham Media Group Inc., was included in the court filings.

bounced-check

None of this looks good. Once flopsweat hits a company things go from bad to worse. Not because people are out to get you but no one wants to be left holding the bag. Those transactions that used to carry terms of “net 30” now are cash on delivery. Your employees start looking all shifty-eyed as they are working on their resumes. And you enter a death spiral that is nearly impossible to extricate yourself from.

The post Is Laura Ingraham’s Media Company In the Middle Of A Financial Meltdown? appeared first on RedState.



Source: http://www.redstate.com/streiff/2017/02/25/laura-ingrahams-media-company-middle-financial-meltdown/

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