CQ Roll Call called an all hands sales meeting at approximately 6:30 a.m. for every rep in the office, FishbowlDC has learned. They were told to cancel all appointments for the day.
At the meeting, CQ Roll Call Senior V.P. Jim Gale told the entire sales team that they ran out of money and that they cannot pay them for February or March. In layman’s terms, ads and sales reps have their comp plans based on certain numbers, which usually include a commission on their sales. So if they are trying to pay less, they may remove commission on sales, or say no commission for the month.
Though we received information about the general news at least a week ago, a second email about the morning meeting came in today. It isn’t clear whether the early morning meeting with reps occurred this morning or on another morning in the past two weeks. We’re told the Ads department is next on the chopping block.
As it just so happens, The Economist Group‘s Chief Executive Andrew Rashbass is coming to Washington for a visit next week following the budget meeting in London. The Economist Group owns CQ Roll Call.
Could a big announcement be in the works? If history is any clue, two years ago Rashbass came into town after the budget meeting in London to fire Managing Director Laurie Battaglia. Let’s hope bad news isn’t in the works.
We requested comment from a CQ Roll Call publicist. None was forthcoming by press time.
UPDATE: A CQ Roll Call Spokesperson at 5:37 p.m: “To suggest that CQ Roll Call has run out of money is preposterous and irresponsible. Please remove this post and print a clarification.”
Note to readers: When we asked the spokesperson what this so-called clarification might be, we were referred to the statement above. We were also told that the publication has not run out of money, which is not what the item says. When asked if it’s flat-out not true that the sales team has run out of money for February and March, we were told the publication has not run out of money. Which again, isn’t our story. Jim Gale: Call us whenever you like. We’re around.