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  September 11, 2003
 
CASH-SHY BRITANNICA
SWISS-based financier Jacqui Safra, nephew of billionaire banker Edmund, appears strapped for cash. Creditors are circling Jacqui's Encyclopedia Britannica company after going unpaid for months, says our source. Britannica's freelance contributors have waited six months for checks, with staff going years without raises. Cost-cutting measures have included mandates to use free photos. Last December, Britannica told employees it would raise the contribution paid into their 401(k) accounts, then eliminated them entirely. "We've had some cost reductions and belt-tightening but we're not going into details," said Britannica flack Tom Panelas."We're a privately held company."

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