Dark Clouds; Hope fading for a second-half rebound in faltering market.(American Association of Advertising Agencies conference)(Brief Article)

Advertising Age, March, 2001 by Cardona, Mercedes M.

It's beginning to look a lot like recession. * Ad executives were in a penitent mood on Ash Wednesday as the American Association of Advertising Agencies' media conference opened in New Orleans. There and elsewhere, hopes for a second-half rebound appeared to be fading fast amid disappointing earnings reports, news of more layoffs and dropping economic indicators. * ``I've never seen an advertising environment so bad, with such a combination of client caution [and] zero new business activity,'' said Nigel Carr, managing partner-general manager of Kirshenbaum Bond & Partners West, San Francisco.

The dot-com meltdown and a surge in energy prices have helped depress the U.S. economy to a degree not seen since the early 1990s. Agencies that couldn't fill vacancies...

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