Here in the States, for many years, any BDA (Big Dumb Agency) lucky enough to have one of the big auto accounts would be in fat city for a long, long time. The big three tended to stay with their agencies for years and shovel mega-bucks into the dumpster's of Madison Avenue. Well, those days are over. News today that General Motors, who lost a mere $15 BILLION in the last quarter, has announced it's slashing it's agency fees by 20%, which on a $3 billion spend last year, works out at more than $20 million. The current agency roster includes Leo Burnett, Starcom, McCann Erickson, Modernista and Campbell Ewald. That's a lot of bodies hitting the street in the next few weeks. Look for the same to happen with Ford and Chrysler very quickly. It's going to be a long, hard and bleak winter for many of the Adverati this year.
lost $15bn in the first quarter - sh*t the bed George - where the fook have they put it - tell 'em to try looking down the back of the sofa!
George Parker
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