It’s rather funny how yesterday’s announcement of less than awful results in revenue growth for Interpublic Group Has everyone dashing all over trumpeting the behemoths great “turn around.” Chairman-CEO Michael Roth pointed to organic-revenue growth of 0.5%, although overall revenue decreased 2.7% during the first half. Could someone make sense of that for me? Whatever “Organic” revenue growth is how does that compare to the larger figure for revenue decrease. On top of that IPG still has tons of debt and is restating it financials for the last hundred years. As a famous British statesman once said “There are lies, damn lies and financial results!” OK, he actually said statistics, but you get my drift. I am sure we shall read shortly that the management of IPG has just awarded itself a whopping great “Performance” bonus!
The Board of Directors has done a great job rearanging the deckchairs!
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