31 Aug 2009 / Permalink
Interview with the WSJ
I did an interesting interview with Cari Tuna at the Wall Street Journal about how Monsoon is managing late vendor payments during the recession.
Mr. Sood is spending more time planning payment schedules with small clients and “figuring out the system” with big customers. “We’ve become savvier,” Mr. Sood says. “We’ve started learning who actually has power within the departments we are working with to fast track things.”
The story accurately covers the way large corporations squeeze their smaller vendors during tough times:
“There’s a power struggle going on as the credit crunch has moved to Main Street,” says Sung Won Sohn, a former chief economist at Wells Fargo who now teaches at California State University, Channel Islands. “Big firms can force their terms on suppliers and customers. And if you’re a small business or a small store in a mall, you have no bargaining power and have to take what’s given, which is not much today.”
LINK TO STORY: so I’m still not sure how the WSJ handles links from Tumblr or Twitter, so here is the direct link:
http://online.wsj.com/article/SB125167116756270697.html
And, just in case that expires, here is the link through Google News:
