IPG, Like Many Others, Suffering from Severe Lack of Income

According to The Wall Street Journal, Interpublic Group of Cos. reported a 71% drop in second-quarter profit. The New York-based parent company of DraftFCB and McCann-Erickson reported earnings of $27.8 million, down from $95.1 million a year earlier. Ouch. Interestingly, the paper seems to be taking the news in stride. There’s no big article, no […]

Shrinkage Worse Than Expected

With GM bankrupt, the housing market in the toilet and a worldwide economy on the skids, one has to wonder just how long the “put a happy face on it” magicians in pinstripes can stay in character. According to Media Daily News, Publicis CEO Maurice Levy estimated that the advertising marketplace declined between 13% and […]

Sorrell Steering Ship Through Tough Passages

Jennifer L. Schenker of BusinessWeek flew to Greece to spend time with 250 WPP staffers busy embracing their digital futures. The reporter said Sir Martin Sorrell, while dressed casually, did not seem relaxed. I suppose it’s hard to concentrate when your stock loses 45% of its value in one year. Yet, concentrate Sorrell and his […]

Garfield Takes On Wren

Say what you will about Bob Garfield, but his column does get the attention of the ad industry. And this week’s column, An Open Letter to John Wren, will certainly get attention, as he addresses the CEO of Omnicom about some not-so-subtle gay bashing in this Snickers spot done by AMV BBDO in London. The […]

Wren Wrangles Earnings

According to Adweek, Omnicom–the world’s largest advertising holding company, with BBDO, DDB, TBWA, OMD and PHD, among others on the roster–is making good money. Omnicom’s fourth-quarter net income rose more than 13 percent to $314 million on a 12.7 percent increase in revenue to $3.62 billion, compared to the same period a year ago. CEO […]

MDC Likes A Loose Grip, But Crispin’s Success Could Make Them Grabby

Matthew Creamer of Ad Age speculates on an ownership struggle at Crispin. This year, MDC Partners has the option to raise its stake in Crispin from 49% to 60%, according to financial filings. In 2008, the stake could be increased to 77%. MDC has deferred these options in the past and could do so again. […]

So Just Exactly Who Is Sir Martin Sorrell?

I know our friend George Parker has an opinion or two about the CEO of WPP, but how did Sorrell get to be one of the most powerful people in the advertising industry? Here’s a good overview of Sorrell’s background, which is in the news again as he’s currently involved in a pretty nasty lawsuit […]

Quote Of The Day

“We’re turning Interpublic into a real company.” So says Michael Roth, CEO of Interpublic. Ad Age has the full report on what Roth said today at a media-industry conference.