PRNewser FishbowlNY FishbowlDC GalleyCat TVNewser TVSpy LostRemote SocialTimes

Business Insider Puts IPG on “Veering Toward Bankruptcy” List

Here’s a little blurb for you &#151 Business Insider put together a listicle of companies that for one reason or another are nearing bankruptcy.

Business Insider:

As one of the largest advertising and marketing companies in the world, IPG was slammed by the global recession.

As the company’s CEO said during recent second quarter results, the downturn ‘is proving steeper and more lasting than expected’.

Revenues have fallen double digits and the company’s exposure to General Motors as its largest client hasn’t helped.

BNET’s Jim Edwards notes that IPG is hoping for nominal margins in the next year &#151 hardly a nail in the coffin. The company’s stock is doing so so, and some seem to think it will continue to rise &#151 but let’s not forget IPG’s Q2 downshift, which amounted to 20% revenue fall.

And lest you’d forgotten, here’s a list of some of IPG’s more prominent agencies/firms.

&#151 TM Advertising
&#151 Campbell-Ewald
&#151 Campbell Mithun
&#151 Carmichael Lynch
&#151 Deutsch Inc.
&#151 Draftfcb
&#151 Hill Holliday
&#151 Kaleidoscope Sports and Entertainment
&#151 Lowe Worldwide
&#151 McCann Erickson
&#151 Momentum Worldwide
&#151 Mullen
&#151 MRM Worldwide
&#151 R/GA
&#151 Reprise Media
&#151 The Martin Agency
&#151 Universal McCann
&#151 Weber Shandwick

More:
IPG Reports Q2 Profit Slide

Mediabistro Course

Copywriting: Creative Ad Writing

Copywriting: Creative Ad WritingWork with a freelance copywriter to build your advertising portfolio and land more copywriting jobs! Starting January 12, Kim Taylor will teach you how to make a complete ad using graphics and photos, write strong headlines and body copy for various advertising media, work from a creative brief, and jumpstart your ad portfolio. Register now!