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. Here's how it works, according to the JPMorgan web site that handles the program:

Pay Me Now

Pay me now allows you to accelerate payments on approved invoices in exchange for a nominal discount. Click the Pay Me Now button next to an invoice to see a prompt with a confirmation page that presents you with an analysis of the early payment opportunity. Included in the analysis is the earliest possible payment date and the associated discount amount.

If you choose to actually get all the money Time Inc. owes you, our tipster says, you usually get it within a month. But if you want it faster, here is the payment schedule—on the left are the number of days you have to wait to get paid, on the right is the portion Time Warner will skim off the top for the service.

• 25 days - 0.5 percent
• 20 - 1 percent
• 15 - 1.5 percent
• 10 - 2 percent
• 5 - 3 percent
• 3 - 4 percent

No word yet on whether the payments are in dollars or "Time Incgots" redeemable at your nearest company store.

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.

Here's the full e-mail urging Time Warner's freelancers to take advantage of this amazing offer!

Happy Holidays!

If you are receiving this email, you are the JPMorgan Xign administrator and you, or someone from your organization, is submitting electronic invoices or receiving electronic payments via the JPMorgan Xign solution on behalf of Time Inc. I apologize for the blind distribution but I wanted to protect everyone's privacy while sharing this important information.

As year end approaches I wanted to ensure that you were aware of the PayMeNow functionality, which allows you to _accelerate payment for invoices that have already been approved_ by TIME. This is an excellent tool to help with your cash management at year end! This does not change your payment term on future invoices, it simply accelerates the payment on the ones you specifically request.

* If you are receiving this email, it means you have approved invoices that are pending payment and can be accelerated for payment this week or any day before year end. *

* *

This is a purely optional service that is available to you by following these easy steps:

1) Log into your JPMorgan Xign account at xign.net.

2) Look for the green $$ and click the link.

3) This will display all available invoices

4) Either select the fastest date to be paid, or select "Lower rates" to schedule payment later in the month, but still before your year end.

Thanks very much and please let me know if you have additional questions related to cash acceleration. For all other inquires, please contact our Support Team at 800 485 XXXX.

Sincerely,

Linda Piazza

JPMorgan

Vice President, Relationship Management

[Photo via Flickr by Taber Andrew Bain.]

The magazine group plans to publish its content on computer tablets including, per widespread speclation, Apple's highly anticipated device. Right now these super magazines are just conceptual; Time Inc.'s demo video above just outlines the company's ideas, well developed though they may be.

That's partly why the video looks so exciting: Making a great demo is much easier than making a great product. It also helps that Time Inc, like other publishers, has come to see tablets as central to its future. If only the company had felt that way about the Web, five years ago, it might not be so desperate for new revenue right now.

The mag's closure will come with about nine layoffs. Its final issue hits newsstands on Dec. 25, and will be there through March. InStyle will continue to publish other similar types of spinoffs (i.e. InStyle Hair), but no mas for the weddings.

Conde Nast folded Elegant Bride and Modern Bride last month, and its flagship Brides is having problems of its own.

Condolences to the layoff victims.

A tipster tells us that three assistant managing editors have been laid off at Fortune magazine, presumably as part of the ongoing companywide Time Inc. layoffs. Mediaite confirms that the company did do a round of layoffs today. If you have more details, email us.
UPDATE: We hear five staffers were laid off at SI.com: Two associate producers, a copy editor, a producer, and a production editor, according to our tipster.


Gary Weiss got a peek at a BusinessWeek corporate post-layoff memo, in which the people not fired are referred to as "Individuals ineligible or not selected for inclusion in the restructuring program." Well. How Bloombergian.


Dave Eggers continues to save print! This time by producing a $16, 300-page "newspaper" with content "ranging from Stephen King's reporting on the World Series to explanatory graphics on subjects as diverse as the conflict in eastern Congo and how to make the perfect bowl of ramen." The whole thing sounds great. Except, of course, this six-month long niche literary project has absolutely nothing to do with newspapers or with the continued viability of print, which is dying as a mass medium, naturally, due to its obvious limitations.


From Roy Greenslade: "Twelve journalists were among 46 people murdered yesterday in the Philippines in what is thought to be the greatest loss of life by news media in a single day. Several of the victims were beheaded or mutilated in the massacre carried out by a huge force of gunmen."

Ha, the fake Onion News Network has hired yet another real TV journalist, Suzanne Sena of Fox News (joke). Laugh now; they could totally get Lou Dobbs, if they tried.


Keith Kelly says the bulk of Time Inc's editorial layoffs could come next week—as many as 90 at the company's biggest magazines, to make up for the non-outpouring of buyout volunteers. So next week should be as sunny as this week, in media land!


A new study "finds that 74% of adults — nearly 171 million — in the United States read a newspaper in print or online during the past week." This is presented as a positive sign for newspapers. Left unsaid is the fact that 68% of those readers were reading "Family Circus."


Popular hero NY1 newsman Pat Kiernan informs us of this breaking trivia-related development:

For almost two years now, fans of World Series of Pop Culture have been asking me "when is the show coming back?" Since VH1 has set its priorities elsewhere, the short term answer is "I don't know." I'll keep trying.

In the meantime, my love of Pop Culture trivia can be suppressed no longer. Each weekday at 11:30 am ET I'll tweet a question at @patkiernan. I'll post it on the website at the same time at www.patspapers.com/trivia

It's tough to run a true trivia competition online because everybody can just Google the answers. But for those who respond with the correct answer I'll award a prize at random from time to time. Mostly it's just about writing some fun questions and creating a place for WSOPC fans to gather.

He tells us this week's prize is a $25 gift certificate and adds, "I'm taking the first 10 responses in the "Comments" section and choosing one at random, hoping to take away the incentive to obsessively press refresh and then google the answer." Don't fuck around with Pat Kiernan's contest rules.


Also in layoff news: We've been updating our AP Layoff List throughout the day, and tips keep coming in. Check it again if you haven't lately, it's long. And we hear BusinessWeek staffers are finding out about their own layoffs right now. Email us with info.

Time Warner's jets have been on the market since at least December 2008, nearly a year ago. That was just after Time Warner's Time Inc. announced the layoff of 600 staff. In February, we called on the media conglomerate to sell its four Gulfstreams, which we estimated were worth a combined $124 million, roughly, based on used jet listings at the time.

But all those jets are still registered in the company's name, according to FAA records; CityFile is reporting that the company still owns at least three of them, and has now echoed our suggestion that they be sold. Sure, it's a buyer's market for corporate jets, but Time Warner can't cut prices enough to move one of these? We wonder if the company isn't keeping prices high on purpose, a trick described by the Economist:

According to analysts at JPMorgan, asking prices for used jets actually rose by 3.4% in the year to November [2008]. Jonathan Breeze, chief executive of Jet Republic, a private-jet operator, suggests that some announcements that firms are selling their jets are "elaborate window dressing". By putting jets up for sale at a high price that ensures nobody will buy, companies can appear frugal-even as their bosses continue to fly as usual.

But we are having a hard time imagining media moguls putting their own personal status-symbol luxuries ahead of the welfare of their workers. Ha ha, kidding!

Glenn Beck survived his appendicitis surgery and issued the following real statement:

Glenn and his wife Tania are so thankful for all the kind words, prayers and support from everyone. Well, almost everyone. Those compassionate loving liberal bloggers were bummed things didn't end differently for Glenn.

We hear the microchip-implanting portion of the operation went just fine Fuck, that was supposed to be a secret.


A tipster sends us more on the layoffs at Essence we heard about yesterday: "Essence relaunched their digital services last week via the re-design of its new website. 18 of the 20 people who worked extensively on this until, the day of launch (10.29), were let go yesterday without previous notice. In addition to digital, essence laid off several within their sales division. Severances were extended to those who had been there over a year, however, no warning or notice was provided to senior staff members.Their method was distinctly different compared to People and Sports Illustrated, for example. It was calculated and underhanded... Apparently a lot of pissed off people there."


Keith Kelly says that the hardest-hit magazines in the Time Inc. layoffs with be Fortune and Sports Illustrated, with about 40 layoffs each. Idea for avoiding this: ... ah, we got nothing. Sorry.


"Weird," "Bizarre," and other synonyms come to mind as we inform you that, starting Monday, the dying San Francisco Chronicle will be printing on "magazine-style glossy paper." What the fuck? I really don't know.

Time Inc. layoffs: People magazine is looking for eight buyout candidates. The memo below went out to staff today:

From: Larry Hackett
Date: Wed, 4 Nov 2009 10:02:00 -0500
Conversation: Staff announcement
Subject: Staff announcement

As part of a broad Time Inc. cost savings initiative, I regret to announce
that People magazine will be making cuts in its editorial staff. We are
looking for 8 volunteers to accept severance packages among the
following Guild-covered job classifications:

Staff Correspondent
Reporter-Researcher
Writer-Reporter
Writer-Editor

I strongly urge each of you to contact People's human resources
representatives... for details regarding your
particular package.

The call for volunteers expires on November 19th. If necessary, we will
then follow the guild contract procedure for conducting involuntary layoffs
in these Guild categories.

If you have any questions, please see me or your department heads.

A tipster tells us the Time Inc. layoffs struck Essence today. We're told the mag had a total of 18 layoffs, including "the entire web team." If you know more, email us.


Oh, and Time Inc. has decide to fold Fortune Small Business, a spinoff mag that was actually owned by Amex and sent directly to cardholders. Eleven layoffs there, reportedly.


Did you know that Al-Qaeda is bucking the current media trend, by publishing magazines? It's true. And the latest one has a nice grenade on the cover, proving they know how to move copies. Read all about it here, then explain why you did so to the NSA.


Hello, Vogue has a new publisher! Her name is Susan Plagemann, and Conde Nast lured her away from Hearst. John Koblin says that her hiring—and an accompanying broadening of Tom Florio's responsibilities—follows the recommendation of McKinsey, to ensure "a clearer bureaucratic structure is now in place." Everything is different now.

To: TIME Edit staff
From: Rick Stengel
Date: Nov. 4, 2009

Time Inc continues to look at ways to reduce costs and lower operating
expenses. As a result, there will be an opportunity for a limited number
(up to 12) of Time Edit staffers to volunteer and depart with a severance
package. We will entertain volunteers from all Guild-covered categories in
all geographic locations. The call for volunteers will expire on the close
of business November 18th. Anyone interested in knowing more details and
having a confidential conversation about a severance package should contact
Peter Vincent at x7294. Let¹s all meet in the bullpen at 9:45 this morning
before the regular 10 o¹clock meeting. Thanks, Rick

And a rumor from Editorialiste on Twitter: "Top Time Inc. editors willing to take salary cuts to save jobs." Admirable.

Of an initial cull of 15 to 30 sales and marketing folks at Time Inc tonight, a large chunk came from Sports Illustrated, a Time Inc. executive told the Times' Stephanie Clifford. The bigger news is an estimate of the total jobs to be shed; prior reports stated only that the company wanted to shave $100 million in costs mainly through layoffs.

The executive estimated the total number of layoffs as being between 400 and 500 people. The largest percentage of layoffs are expected to come from the news division, which includes Time, Fortune, and Sports Illustrated, this executive said.

That's a worrisome number of job applicants out on the street, to be sure. But as we said last fall of the firing of another 600 staff, it's still relatively modest (about 5 percent) against total of 10,000 or so Time Inc. employees. What Time Inc.-ers should really be worried about: That the company is delaying real change and will thus have to do this again next year as it did in Oct. 2008, September 2007, January 2007, December 2005 through April 2006, etc.

UPDATE: A spy tells us that Time Inc. will offer those who accept buyouts an additional 13 weeks of pay — three months! — in addition to two weeks of pay for every year of service. That's according to talks with the Guild. The two weeks per year was also offered last year, but without the 13-week bonus. Writes our tipster, "A lot of people are expected to take packages...." We would. How many rich buyout packages can print media possibly have left in it, anywhere?

From: Hackett, Larry - People
To: +TI-PG-WEEKLY-EDITORIAL-WORLD
Subject: Important Staff Meeting 10 a.m. TOMORROW

There will be a general staff meeting at 10 a.m. TOMORROW in the 30th floor
conference room. All People editorial team members are encouraged to attend.

Alas! The BBC is cutting the pay of its top execs by 25%. How poor shall they now be? "The BBC currently spends about £79 million ($129.4 million) on pay for its 634 senior managers and nine most senior executives." Over $200K each, on average. Urchins.


Michael Wolff: "I picked up a recent column in the Spectator by the British writer Rod Liddle, who, next to me, is the best columnist in the English language." Ho hum, Michael Wolff. Ho hum.


A tipster tells us that Newsweek has shut down its L.A. and Dallas offices. Hmmm. We heard back in February the magazine was shutting down its LA and San Fran offices. So we're not sure how new this is. Or how it will affect the Historical Jesus. We've asked Newsweek to clarify for us, and we'll update when we know.
UPDATE: Newsweek tells us, "The Dallas office remains open. The LA office remains open. We combined the western region sales so it is run out of San Francisco instead of LA." Clarity on staffing levels, TK.
UPDATE 2: "The Dallas office was reduced by three and we still have a sales rep there," they say.


Keith Kelly says that the upcoming $100 million Time Inc. cuts will work out to about 540 layoffs. That's roughly the same as last year's monster Time Inc. layoff round, give or take 50 employees or so. Time Inc. will give, rather than take.

Time Inc. is planning to cut $100 million in (presumably annual) costs, sources tell the New York Times' Stephanie Clifford, and the magazine group plans to achieve those savings primarily through layoffs. Yikes; there are enough journalism jobless as it is. Still, $100 million is just 2.7 percent of the company's estimated revenues this year, and less than half of estimate losses in the third quarter alone. So it's hard to see how this round of cuts will stop the bleeding.

The point being, things haven't even begun to get horrific yet. Maybe next year.

UPDATE: A little birdie tells us that People is slated to cut $3 million in costs, resulting in the layoff of about 20 staff. Rumor has it the cuts will fall most heavily on top editors. The celebrity magazine laid off 18 in December.

Another Conde Nast mag lines up for its 25% budget cuts: A tipster tells us that Teen Vogue had about six layoffs today in the sales and marketing departments, including, they say, a pregnant woman. We also hear rumors of editorial layoffs at Details today, although we have no...details. Know more? Email us.


Elsewhere in magazine layoffs: The long-awaited Forbes layoffs are coming down this week. Keith Kelly says 30 to 40 layoffs there this week. And WWD says that Time Inc. is "expected to make staff reductions across the board next week." That follows the 600 layoffs there one year ago. Damn.


What horrible things are going on at the San Francisco Chronicle? The paper lost more than 25% of its circulation in the latest report. Which is great news, according to the publisher! "Frank Vega, publisher of The Chronicle, said the newspaper's loss in circulation was an expected result of moving away from a business model that depends mainly on advertising and instead relies on readers for a greater share of revenue." Ah yes: Now that your model relies on readers for revenue, you'd expect readers to flee from your paper in record numbers. Naturally. Also: "Starting next month, the paper will become the first in the country to use glossy, magazine-style paper in its daily editions, although not for every page." Um, just what the public's been waiting for? Even Romenesko is totally making fun of you, SF Chronicle.


Looks like Wonkette will be resuming its boycott of Politico, after discovering Politico is still way dumb.


There's a little war of words going on between "xenophobic" xenophobe Lou Dobbs and "self-important ass" Fox Biz mustache-haver John Stossel. Hopefully this will end with both men tearing each other limb from limb.

Now that in itself is no big deal—a source says they meet frequently.  We also don't know where Tim and Ann met and what they talked about.

A reader of ours, however, claims to know.

This reader says the pair met to discuss a possible joint spinoff from Time Warner.

Time Inc CEO Ann Moore and Tim met last week with some of their confidants to talk about a potential "co spin-off" of the Time Inc and AOL. While synergies have been talked about in the past, turns out TW thinks that their could be serious benefit from this (you know what they are) merger and spin-off.

They are being told to look at the overlap/ benefit from a content deal with Time, Inc. Meeting lasted for 3+ hours. While it makes sense, I personally give it a low chance for success. Too much ego and vested interested on both side.

Our first reaction to this gossip was, yes, it makes sense for Time Inc and AOL to get together, especially if AOL's goal is to become "A Time Inc. for the 21st century."

So, Tim and Ann would be nuts not to consider the idea.

But we agree that there's a very low chance of this deal being successful given the cultural difference between the companies.  It would just be a mini-AOL-Time Warner all over again.  Also, it seems a bit late in AOL's spin-off process for this kind of talk to start now.

We've included only e-readers (and one tablet computer) that are either developed by old media companies or have gone out of their way to partner with them; think of this as a compilation of would-be media saviors dressed up as gadgets.

Maker: Barnes & Noble (the retailer)
Name: E-Reader
Old media tie-ins: Books from Barnes & Noble (the publisher); access to books scanned by Google Books; a B&N e-book store. (More)

Maker: Apple
Name: Apple Tablet (unofficial)
Caveat: A tablet computer is much more capable than an e-reader, usually offering the resolution, sound and video capabilities of a laptop computer along with a full-color display.
Old media tie-ins: Apple is in content talks with the New York Times, a large magazine group and at least two textbook companies, sources told our colleagues at Gizmodo. (More)

Maker:Sony
Names:Reader Touch, Reader Pocket
Old media tie-ins: Sony has a great feature that will let you check out e-books from one the oldest distribution mediums out there: your local library. Publishers can't be thrilled with "Library Finder," to say nothing of Amazon or Barnes & Noble. Oh well!

Maker: Plastic Logic Ltd.
Name: Plastic Logic Reader
Old media tie-ins: Content deals with Gannett Co.'s USA Today and Pearson PLC's Financial Times. Digital bookstore from Barnes & Noble.

Maker: Amazon.com
Name: Kindle DX, Kindle 2
Old media tie-ins: e-Books — from fiction to textbooks — sold by Amazon; a variety of newspapers, including the New York Times; a variety of magazines, including Time. Non-participating newspapers, including those owned by Rupert Murdoch's News Corp., have complained about the paltry 30 percent cut of revenues they were offered for sales on the device.

Maker: iRex
Name: DR800SG (catchy!)
Old media tie-ins: Books from Barnes & Noble's e-book store. B&N gets around.

And, bringing up the rear, there are the media companies whose devices are, for now, mostly talk.

Maker: Hearst Corp. and FirstPaper LLC
Name: Unknown
Old media tie-ins: Would presumably include content from Hearst newspapers like the Chronicle-s in San Francisco and Houston and from magazines like Esquire and Cosmopolitan. There has been talk of a hardware device developed by Hearst and, more recently, of an open software platform developed with FirstPaper.

Maker: Time Inc.
Name: Unknown
Old media tie-ins: There are conflicting accounts over whether Time Inc. is interested in making this device. Former Valleywag Owen Thomas of NBC Bay Area obtained a June 2009 presentation indicating plans to finish a prototype this year; Peter Kafka's sources at All Things D said the magazine division of Time Warner is interested in creating a virtual store rather than a physical device. Either way, the company is said to be seeking partnerships with other magazine publishers — Condé Nast, Meredith and Hearst, according to the documents reviewed by Thomas.

(UPDATE: Added Sony Reader due to Library Finder feature.)

(Pics via Gizmodo unless otherwise noted)

Craig Whitney, the man who kept all the thug motherfuckers in check as the Standards Editor of the New York Times, is retiring after more than four decades at the paper. You can read a very gracious speech about him by Bill Keller by clicking here, or just read this excerpt, which is Whitney's career highlight:

And along with Phil Corbett, his successor, he has worried about all the words that appear not only in the paper but, now, on the web (a recent exchange with a department head involved the appearance of the word "pooping" in one of our sites).

Poop well in whatever you move on to, Mr. Whitney.


Just like in America, Russia has cranky old ex-military wingnuts. But over there they seem to have slightly more influence! Example: Someone wrote a story ("media" peg alert!) about a kabob house called the "Anti-Soviet Kabob House." Uproar ensued amongst Soviet wingnuts! Somebody else wrote about how ridiculous this was and now he's subjected to even more intense wingnuttery, to the point where his life may be in danger. The moral of the story is, God Bless America, where our wingnuts kill journalists less often than their wingnut counterparts elsewhere do.


Is Time Inc. for sale? No, says Time Warner CEO Jeff Bewkes. He said at a conference that they'd still have it five years from now. Although if he could go back in time two years and sell it he totally would, in a flash.


Boy, the magazine industry sure isn't going to let Apple come between it and its readers, like Apple did to the music industry with iTunes. No way. The magazine industry wants to make its own iTunes-type thing, to cut out the middleman, and grab the dough. Well, you know how it is. Five years from now you walk back into the same bar and there's the magazine industry, sitting on the same stool, sipping the same beer, still talking about how it's gonna make that awesome new iTunes thing for magazines. Good luck, guys.