According to yesterday's AdAge, WPP has finally crept ahead of Omnicom to become the world's largest ad conglomerate. Perfect timing... Just as the ad biz is descending into the pit, with forecasts that ad spends will be down as much as 20% in the next year, and WPP carrying a staggering debt load, some of which is due to be paid back in the middle of a severe recession that has every chance of turning into a depression any time now. Even fucktard, Interpublic, which hasn't thrown a profit since Rome conquered Gaul, carries less than a quarter of WPP's debt. In the "No one learns from the mistakes of history" column, you would think that Sir Martin would remember what caused the downfall of his previous employers. It wasn't just Maurice and Charlie's insatiable appetite for Concord, castles and cars. It was the fact that they kept buying non-advertising companies on borrowed money and lost sight of what business they were actually in. Eventually, the shareholders said "Fuck it, you're out." As a WPP shareholder (FIVE shares) I'm telling "His Gnomeship" to watch it!
Ah... The good old days. When we ruled the world!