GM is filing for bankruptcy today and guess what? They owe a ton of money to the ad industry and are probably responsible for tons of Detroit ad folk losing their jobs. Way to go, gas-guzzlers. Maybe the Hummer brand should have seemed like a bad idea sooner?
Here’s B|Net’s breakdown;
— Starcom MediaVest Group: $121 million
— Publicis Groupe: $25 million.
— Interpublic: $16 million
— McCann Erickson: $4.6 million
— Total: $167 million
As Tribble notes, Publicis alone is owed about $150 million between Medivest’s $121 million and PG’s $25 million. Ouch. Check out B|Net for a full PDF of the moneys owed.
More: “Arnell’s Peapod Mobility LLC Included in Chrysler LLC Bankruptcy Filing”