As the Dow crashes this morning and Asian markets suffer, advertising executives have chimed in on the bailout package. Is it good? Is it bad? Responses range from “no way” to “it’s a good thing.” A sample is below. To see all of the responses, head here.
Negative: John Moore, Senior VP-Director of Ideas and Innovation, Mullen: “May be too little too late. The market was not inspired.”
Positive (sort of): Peter McGuinness, Chairman-CEO, Gotham:
“This is a major correction, not a depression. Things got out of control. What goes way up must come down. That said, the bailout is a Band-Aid and a necessary evil that will temporarily free up the credit markets, potentially giving the economy a shot in the arm. It will also give a temporary psychological lift given the pervasive doom and gloom attitude in America currently, but will not fix the long-term systemic issues/problems.”
Positive: Darren Tristano, Exec VP, Technomic:
“Any economic-bailout package is going to have a positive effect on the consumer and the restaurant industry, so it definitely will help to increase consumer confidence, which is a really big indicator of how the restaurant industry performs and should have a positive effect on the industry.”