So, here I am just poking around the internet as you do on a typical workday afternoon when I happen upon a Yahoo article about flailing companies…and what relevant-to-this-blog company do I find on that list?
Michael Rawth’s Interpublic Group.
IPG sits tenth on the list of companies deemed by Yahoo, using a very simple (to a fault among anyone more serious about economics than an ad blogger) formula that determines perceived bankruptcy risk among companies with a market cap over $3 billion.
Says Yahoo, “As one of the largest advertising and marketing companies in the world, IPG was slammed by the global recession…revenues have fallen double digits and the company’s exposure to General Motors as its largest client hasn’t helped.”
Luckily, I don’t think that anyone at an IPG agency expected a Christmas bonus anyway…