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- WPP Pays Almost No UK Tax; Used "Spider Web" of Debt, Foreign Countries to Avoid Obligations
- WPP pays almost nothing in taxes to its headquarters country, Britain, due to an elaborate series of schemes that shelter its operations in places like Luxembourg, Ireland and Holland. Here's a digest of this must-read piece in the Guardian coupled with the usual commentary: ... the...
- Blog posts 2009-02-04
- WPP's Ireland HQ Is Nothing But a Tax Dodge
- WPP's new use of Ireland as its corporate HQ is even more of a sham than you thought it was. Here's the Guardian's description of WPP's HQ on the Liffey in Dublin: WPP, one of the world's biggest advertising companies, is one of those which says it...
- Blog posts 2009-02-10
- Omnicom's Credit Crunch: a Gamble by CEO Wren That Didn't Pay Off
- Omnicom has been put on Standard & Poor's creditwatch, placing its A- credit rating in doubt. Adweek reported the news, and gave this reasoning from S&P credit analyst Heather Goodchild: We are also concerned about Omnicom's overall funding flexibility as a result of recent and potential debt puts. ...
- Blog posts 2009-02-13
- Omnicom, Publicis Worst Hit in Auto Brand Axings
- The news that General Motors and Chrysler are to cut or scale back several automobile brands will fall most heavily on Omnicom and its BBDO and PHD units. Publicis's Leo Burnett and its media group will also suffer. Coming out of the fallout somewhat less lethally injured...
- Blog posts 2009-02-18
- WPP Q4: Lower Profits Increase Likelihood of More Layoffs
- It is often said that WPP chief Martin Sorrell takes accounts at lowball rates and figures out how to make a profit later. That notion is writ large in WPP's 2008 full year earnings report, out today. Revenues were up 9.7 percent to $13.5 billion but profit...
- Blog posts 2009-03-06
- WPP's Layoffs Plan Explained -- Wall Street Doesn't Believe Sorrell's Rosy View of the Future
- Wall Street no longer believes WPP's Martin Sorrell. That seems to be the message in the reaction of Morgan Stanley and Edward Hill-Wood to WPP's 2009 forecast. WPP said it saw a 2 percent drop in revenues for 2009, when the company released its Q4 2008 results....
- Blog posts 2009-03-17
- Sorrell's Interest in Branded Content Is Explained by WPP's Finances
- WPP chief Martin Sorrell showed up at the MIPTV Festival in Cannes and touted a sudden interest in product placement, branded entertainment, and the type of advertiser-producer partnerships that were trendy four years ago. Why? Here's one theory: The answer lies within WPP's inefficient use of its own operating expenses....
- Blog posts 2009-04-01
Additional Resources
- Fitch Cuts WPP's Debt Rating; Suggests Pay Reductions
- Fitch, the financial company that rates the ability of companies to pay back the debt they've taken on, has downgraded WPP from BBB+ to BBB. Here are the plain-English reasons why, and what it means for folks employed at WPP shops: The action reflects Fitch's concerns over...
- Blog posts 2008-11-19
- Is WPP at Risk of Breaching Its Debt Obligations?
- George Parker recently suggested that WPP was at risk of screwing up its debt obligations: "Reports out of Europe suggest that WPP could breach its debt covenants in the first half of next year if the ad environment continues to worsen," he said. The reason, Parker argued, is that the...
- Blog posts 2008-12-13
- Omnicom Sought to Delay TV Production Payments; a Sign of Cash Crisis?
- Omnicom has done a U-turn on its attempt to delay payments to TV commercial producers until after clients pay the agency. The move is a possible indicator of Omnicom's cash crisis. Under the current system, Omnicom agencies would front producers 50 percent of their fees before the...
- Blog posts 2009-03-06
- GroupM Cuts Online Ads '09 Growth Estimates In Half
- While WPP's GroupM agrees precisely with rival media shop ZenithOptimedia that the world's ad spend will be down 0.2 percent next year, it is taking a significantly more bearish view when it comes to online. GroupM's dismal forecast, which will be unveiled at this morning on a panel with...
- External links 2008-12-08
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