So, the good news is that Interpublic Group today reported a net loss of $289 million for 2005, an improvement from a net loss of $558 million for the previous year. IPG ended last year with revenue of $6.3 billion, down 2 percent from 2004. According to the press release… Rising professional fees, increased salary costs and client losses all contributed to the revenue decline. Salaries and related expenses, for example, totaled $4 billion or 64 percent of revenue in 2005, compared to $3.7 billion in 2004. Expenses included severance paid to 2,500 employees who got laid off last year. CEO Michael Roth described 2005 as "challenging and complex," adding, "The organic revenue decline was marginal and we will continue cycling through a number of client losses during the next two to three quarters." Whatever the heck that means! The bad news is all this BS can’t cover up the fact that IPG is hemorrhaging cash, billings, revenue and people. Why would salary costs go up when you have fewer clients to service!!! I wonder how long this charade can continue? 
IPG 12 month stock chart!!!
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