Exactly when should a list owner expect to collect list rental income from a list manager or broker?
That question is being asked more than ever these days in the wake of The Kleid Co. Inc. bankruptcy. The answer depends on who you talk to.
There is no written industry standard. Management and brokerage companies set their own policies, often based on in-house accounting procedures and client payment preferences.
For example, Beach List Services Inc. in Nashville, TN and Novus Marketing, Tarrytown, NY, cut checks every seven days, paying out all moneys collected within that period. Following the same policy, American List Counsel Inc., Princeton, NJ, remits twice per month and Acxiom/Direct Media, Greenwich, CT, once a month.
“Our policy is to turn money around as soon as it’s received and processed through our system,” says Howard Kupfer, senior vice president, Mokrynski & Associates Inc., Hackensack, NJ.
But these standards apparently are not observed throughout the industry. List owners question use of the float, and wonder why it often takes 60 to 90 days to receive
Millard Names George Burman to Board Millard Group Inc., Peterborough, NH, has named George Burman to its board of directors. Burman has been in the direct marketing industry for more than 20 years, including 10 years with General Mills Inc., and its subsidiary, Talbots. Burman joins chairman Steve Millard, Ben Perez and Linda McAleer on the board.
Weil Joins ALC of New York ALC of New York LLC has appointed Mallory Weil to the newly created position of vice president, brokerage and consulting services. The position incorporates traditional list brokerage research and recommendations, circulation planning and analysis, and a broad range of consultative services. Weil had been with Coach since 1989, serving most recently as executive director. Before that, she held positions at Ann Taylor and Hanover Direct.
Kleid Co. Moves to Smaller Quarters The Kleid Co. Inc. has moved to 230 Park Ave., Suite 1160, New York, NY 10169-1023. The new phone number is 212-808-4631. Kleid, which filed for Chapter 11 bankruptcy protection March 11, was previously located at 530 Fifth Ave., New York.
Bartko Named Int’l. Business Leader at Acxiom/Direct Media Maxim Bartko has been designated international business leader for Acxiom/Direct Media. He will work in the company’s Port Chester, NY office. The appointment took effect April 1. Bartko is responsible for all international business. Previously, he served as group president, sales and marketing for the company and worked out of the company’s Greenwich, CT office, through which he can still be contacted.
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