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.
SHOOT: And GM, and Fedex and truckloads of banks and construction companies. Any company or individual deeply in debt now will be buried.
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.
SHOOT: And GM, and Fedex and truckloads of banks and construction companies. Any company or individual deeply in debt now will be buried.
1. Hertz
2. Textron What a tough time to be selling business jets. 3. Sprint Nextel Sprint Nextel is bleeding customers, and could lose as many as 4.4 million net post-paid subscribers this year. This is a huge problem when you have large amounts of maturing debt over the next few years. 4. Macy's Does anyone even shop at department stores anymore? 6. Goodyear Demand for Goodyear tires has sunk, and the company is saddled with massive debt and pension obligations. 7. CBS Weak advertising and falling license fees have sent CBS's earnings off a cliff in 2009. If they remain depressed for too long, the company could have trouble refinancing $3.2 billion of debt coming due over the next five years. 8. Advanced Micro Devices When will AMD actually make money again? The question is becoming more important by the day since it carries over $5 billion in long-term debt.
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