See the news in yesterday's AdWeek that Standard & Poor's Ratings Services revised its outlook on WPP and Publicis to "negative" from "stable." Apparently S&P voiced concern over the "significant deterioration of economic and advertising conditions worldwide." They also played up the fact that the Poisoned Dwarfs empire seems to be carrying fucking dumpster loads of debt, and as I've mentioned in previous posts, 2009 could be a pretty difficult year for lowering some of that. S&P credit analyst Melvyn Cooke thinks industry forecasts for 2009 are more optimistic than is warranted. He says that while WPP has budgeted for 2 percent negative growth, he expects the company will "suffer a greater revenue decline, on an organic basis, than it has budgeted. Meaning that the Poisoned Dwarf will be facing some tough sledding through the rest of the year. Maybe he could cut down on the champagne and caviar budget for the Gramercy Park penthouse.
Shit, you can always lay off more people!