Smith Barney's Data Debt Backlog Hit $18.5 Million


As a result of its new, hard-nosed approach to billing and contract negotiation with data and technology vendors (IMD, Aug. 14), Smith Barney Inc. accumulated millions of dollars worth of unpaid market data bills as of October -- many of which had gone more than 90 days past due. What's more, according to a source familiar with the firm's billing pratices, the backlog of invoices has increased since that time, leaving vendors holding the bag for even more.

While the specific details of the fi

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