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Interpublic's shares set for a new spin; Ad giant expected to move into black; will report overdue financial results.(In the Markets)
Crain's New York Business, August, 2005
Byline: Aaron Elstein If there was a company whose stock desperately needed a new marketing campaign, it would have to be Interpublic Group of Companies Inc. The past three years have been unrelentingly awful for the world's third-largest ad agency and its shareholders. Interpublic has been under investigation since 2002 by the Securities and Exchange Commission over its accounting, which is still such a mess that the firm hasn't been able to report results for last year, much less for 2005.
What's more, Interpublic has run through three chief executives in the same period. All this has taken a toll on clients and investors. Interpublic lost the General Motors account in the spring, after managing to drop $1.4 billion in net billings last year--even as...
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