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- 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
Additional Resources
- 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
- Alloy, Aegis Top BNET's Network Efficiency Ranking; WPP Slips
- Alloy Marketing & Media held the top spot as the publicly traded advertising company that operates most productively, according to an analysis of financials by BNET. Alloy saw flat revenues in Q4 on higher operating expenses, demonstrating that owning the media you offer creative for as Alloy does will not...
- Blog posts 2009-03-20
- Did WPP's Debt Problems Trigger 90 Layoffs at Ogilvy?
- The 90 Ogilvy & Mather staffers who are about lose their jobs should be forgiven for being baffled about what is happening to them. After all, judging by CEO John Seifert's message to his troops, the ad agency has won more business than it has lost recently and Q4 business...
- Blog posts 2009-12-02
- Aegis Q4: Not Talking to Havas; Deal Price Getting More Expensive; 780 Jobs Cut
- Aegis used its 2008 full year results to send a number of messages yesterday, some more confusing than others. Let's start with the financials: Aegis reported revenues for 2008 were up 21 percent to £1.3 billion; net income was down 4 percent to £89.2 billion (not adjusting...
- Blog posts 2009-03-20
- Omniture, Inc. Q4 2008 Earnings Call Transcript
- Question-and-Answer Session Operator Thank you. Operator Instructions Your first question comes from Michael Huang - Thinkequity LLC. Michael Huang - Thinkequity LLC So I just wanted to clarify, did you guys outperform your Q4 revenue and EPS guidance on a constant currency basis or was it already factored...
- Earnings calls 2009-02-05
- Interpublic Q4: Revenue Declines; Good News in the Details; Layoffs Still a Threat
- Revenue at Interpublic Group declined 4.1 percent to $1.9 billion in Q4 2008, but that topline masked what was actually a sterling performance for IPG. BNET previously chided the company for a number of issues: its negative cashflow performance, which for three straight quarters had been in...
- Blog posts 2009-02-27
- Havas Q4: Flat Revenues Hide Rising Salaries Budget
- Havas, like Publicis, is one of those companies that doesn't provide a complete accounting of its quarterly numbers so it is difficult to assess its Q4 earnings release, out today. Here are some educated guesses: This is a company that is holding its own and hoarding its...
- Blog posts 2009-03-02
- Advertising M&A Market Slowed Considerably in Q4 2008
- The advertising deal market reflected the slowing economy in Q4 2008, according to a new report by Petsky Prunier, an investment bank specializing in ad agencies and marketing services. Direct Mag gives this summary: The 140 transactions it tracked from the fourth quarter totaled $4.7 billion, reflecting a 42%...
- Blog posts 2009-01-16
- 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
- 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
- Publicis Executive Pay: A Raise for Levy; Saatchi's Roberts and Vivaki's Klues See Packages Cut
- Vivaki boss Jack Klues and Saatchi & Saatchi chief Kevin Roberts both took compensation cuts in 2008, while their overlord, Publicis maestro Maurice Levy, got a pay rise, according to a French regulatory document. Roberts got €2.8 million in 2008, down from €3.4 million in 2007. Klues...
- Blog posts 2009-04-24
- 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
- Enfatico to Lay Off 8% of Staff; Dell Gave Agency the News Back in January
- Enfatico, Dell's captive ad agency, has begun a round of layoffs, the agency said. The cuts are the latest in a chain of bad news for Enfatico, which began with the exit of Dell vp marketing Casey Jones, and later CMO Mark Jarvis. The pair were Enfatico's main clients at...
- Blog posts 2009-02-24
- Valassis Writes Down $245 Million in Assets; Legal Bills Running at 10% of Profits
- Direct mail giant Valassis wrote down $245.7 million of its assets in a non-cash impairment charge related to goodwill and other intangibles. The move resulted in the company making a loss of $222 million in Q4 2008. The write-down raises questions about how much of the remaining...
- Blog posts 2009-02-17
- Lamar: Revenues Will Decline 15% This Quarter
- The Lamar Advertising canary just gets sicker and sicker. The company predicts its Q1 revenues will decline 15 percent. Lamar released its Q4 earnings today. Here's the news: Revenues decreased by 8.4 percent to $279 million; the company saw a net loss of $6.8 million compared to...
- Blog posts 2009-02-26
- Aegis Puts Up Barrier to Havas Takeover Bid; Has Bollore Missed His Chance?
- It's time to ask whether Havas boss Vincent Bollore may have waited too long in his bid to acquire Aegis. If he wanted to snap up the shares cheap, he should have done so back in November when Aegis was trading at around 47.25. That was also the time when...
- Blog posts 2009-04-22
- Lamar Advertising: The Canary in the Coal Mine
- Outdoor ad provider Lamar Advertising yesterday played host to one of the most brutal, depressing analyst conference calls I've ever heard. This was significant because Lamar claims to be the country's largest outdoor ad provider, and thus it arguably functions as a proxy for the ad biz as a whole....
- Blog posts 2008-11-07
- Advertising Roundup -- 80 Laid Off at Starcom; 26 Laid Off at Ogilvy; Lamar Debt Makes Hedge Fund Rich; More ...
- Layoffs at Starcom -- Chicago's Starcom MediaVest laid off 80 staffers yesterday, AgencySpy has learned. A Starcom representative confirmed the cuts today, stating that the current economic climate is to blame. [Source: AgencySpy] 26 laid off at Ogilvy Group UK -- The role of Bo Hellberg, the...
- Blog posts 2009-01-23
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