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So much for getting his sea legs. In his first full week as IPG’s new CEO, David Bell faces the task of delivering to investors some of the holding company’s worst financial results ever.

Insiders say IPG, which releases 2002 fourth-quarter and full-year financial results midweek, was hit harder than expected by the dismal performance at McCann-Erickson and losses in the motor-sports division Octagon.

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