A turnaround in advertising just doesn't ad up for Interpublic
Interpublic is now down to withdrawing its prior projections for the year, which had the company earning between $0.68 and $0.72 a share. In the wake of accounting irregularities, layoffs, and executive shuffles, Interpublic may indeed be beginning to recognize the challenge of shaking a tarnished reputation.
No, Interpublic isn't permanently damaged. However, it might be more than coincidental that as management was raked publicly for fiscal improprieties that ultimately led to a restatement of earnings, the firm lost some choice accounts, including Pfizer
One thing that Interpublic can't blame is the sector. Last month, rival Omnicom
Can you imagine Interpublic hiring Omnicom to offer up some favorable spin? Didn't think so.
What do you think of ads these days? Are they funnier? Are they more informative? Bottom line: Are they more memorable and therefore effective? All this and more -- in the Television Banter discussion board . Only on Fool.com.