Contact O'Dwyer's: 271 Madison Ave., #600, New York, NY 10016; Tel: 212/679-2471; Fax: 212/683-2750
ODWYERPR.COM > Jack O'Dwyer's Newsletter return to main page
Return to NL Archives Index

Jack O'Dwyer's NL logo
Internet Edition, July 10, 2002, Page 1


Edelman PR Worldwide has edged Burson-Marsteller for the $2 million PR campaign to show that lower Manhattan is back in business following the devastation of the World Trade Center. Richard Edelman heads the core team from the firm's corporate and PA groups, Justin Blake, VP at Edelman, told this NL. He is assisted by EVPs Loretta Ucelli and Russell Dubner; Blake, and sr. A/S Jonathan Hotz.

Edelman's job, according to a statement from NYC Mayor Mike Bloomberg, is to get the word out that "roads have been repaved; bridges, tunnels and subways reopened and that Lower Manhattan is open for business." The Federal Emergency Management Agency is funding the PR effort, which is being coordinated by the Mayor's office and the Lower Manhattan Development Corp.

Company 39, a "global technology solutions firm," is working with Edelman on the campaign.


Martha Stewart Living Omnimedia has hired Brunswick Group, a financial PR, IR and crisis specialist, to deal with the media onslaught over Martha Stewart's trading in ImClone Systems stock.

Steve Lipin, the former Wall Street Journal finance editor who heads Brunswick's New York office, is heading the account. He also spearheads London-based Brunswick's drive to build up its U.S. business.

Brunswick is located on 57th st. as is MSLO's agency of record, Susan Magrino Agency.


The Australian Tourist Commission has renewed its three-year $775,000 contract with Laura Davidson PR after a competitive pitch.

Davidson told this NL she was gratified in beating Weber Shandwick, Ruder Finn, LaForce + Stevens, Saxton Group, and M. Silver Assocs. for the business.

Ogilvy PR Worldwide named Stephen Jones co-head of its high-tech practice responsible for the Sun Microsystems account. Jones helped manage the Sun account when it was at Burson-Marsteller. He joins from Ketchum...PwC Consulting has named Steven DeSutter senior VP-corporate communications and Bennett Machtiger as chief marketing officer. DeSutter joins the PricewaterhouseCoopers corporate spinoff from TurnWorks Inc. He also spent 18 yearsat British Petroleum. Machtiger was at WPP's Young and Rubicam shop.


The 560-page 2002 O'Dwyer's Directory of PR Firms, listing 2,900 firms including 2,150 in the U.S., has been put on a CD-ROM.

Clients, people, PR firms and words or groups of words can be searched instantly and all pages in the directory can be printed out.

Users now have an easily portable version of the Directory that will allow them to do research wherever they are, said publisher Jack O'Dwyer.
The pages are in PDF form, an Adobe Acrobat program that can be downloaded without charge from the Internet if users don't already have it, he noted.

The CD weighs less than an ounce vs. three pounds for the printed directory, which has been published annually since 1970.

Besides the listings of U.S. firms, there are listings on 750 firms in 77 foreign countries.

Nearly 500 firms display their logos and describe their specialties and business philosophies.

There are 15 pages of rankings by overall size, location, specialties and whether the firm is ad agency-owned or independent.

The CD-ROM version of the Directory is $175 plus tax if New York resident.


Financial commentator Jim Cramer (Kudlow & Cramer and put Omnicom at the top of his list of "stocks to avoid" in a radio show June 18. He said he is "tired" of Omnicom saying critics "don't know what they're talking about."

"I love these guys...I really do like these fellows," said Cramer, who is known for his free-swinging style. But he said he is "worried" about the stock because of accounting problems and the fact that OMC is a "serial acquirer."

He's also annoyed that OMC blasts anyone who criticizes it.

Cramer, broadcasting on his "Real Money" radio show of, said that after Robert Callander quit as audit chairman of OMC, "The company came out and said the guy doesn't know what he was talking about, the press doesn't know what it's talking about, the critics don't know what they're talking about, and the short sellers don't know what they're talking about."

"Well, aren't you tired of being told you don't know what you're talking about? I mean that's what

(continued on page 7)

Internet Edition, July 10, 2002, Page 2


Seventeen U.S. airmen who were shot down over Kuwait and Iraq in the early stages of the Persian Gulf War, claim they were tortured by Iraqi intelligence agents, and are suing to receive compensation.

Steptoe & Johnson, representing the group, filed a lawsuit against the Republic of Iraq, the Iraqi Intelligence Service and President Saddam Hussein for "acts of torture" described in the suit as "barbarous" and what they say are violations of the Geneva Convention governing treatment of POWs.

The firm is in the process of interviewing the plaintiffs in the case, which could be heard in U.S. District Court for the District of Columbia by the fall, Molly Poag, an attorney for S&J on the case, told this NL.

The former POWs seek $25 million each in compensatory damages plus $5M for each immediate family member, and $300M in punitive damages.

S&J will pursue those damages from Iraqi assets frozen in the U.S. since the war or via a Congressional bill appropriating money for the POWs and their families.

Grisly Depositions

The servicemen were captured from mid-January to the end of February in 1991- and claim they were the victims of "severe beatings, systematic starvation, systematic exposure to freezing cold, deprivation of medical care, electric shock, cigarette burns, mock executions, threatened castration, threatened amputation and dismemberment, and continual death threats" at the hands of Iraqi personnel.

Stephen Fennell, partner at S&J, heads the lawsuit for the firm.


CenterWatch, a Boston-based firm that monitors the pharmaceutical industry, said drug manufacturers spent $1.5 billion in 2000 to test medicines already approved by the Food and Drug Administration primarily so they could make new marketing claims to sell their products.

It said spending on "post-approval" drug studies tripled in the last half of the 1990s, growing faster than other clinical drug research.

While these studies can yield new information on safety and uses of drugs, such as a 2000 study that found the hypertension drug Ramipril could reduce the risk of heart attacks, regulators and consumer advocates say the studies are helping increase healthcare costs, can put some patients at risk, and may taint the public's view of safety testing necessary to get new drugs on the market, according to The Boston Globe.

The paper said the bulk of testing after FDA approval is being done so companies can differentiate their drugs from competitors and generate more demand.

Some recent examples of market-driven research studies were drugs for Alzheimer's disease, hypertension, arthritis, and heart disease.


Greenpeace, which is urging a boycott of ExxonMobil because of its anti-global warming treaty stance, has been sued by the energy giant in France for trademark infringement. That has provided a rich PR opportunity for the media savvy environmental group.

Greenpeace was sued because it has replaced the two "letters" in the Esso logo with dollar signs. Ex-xonMobil says the doctored logo resembles the "infamous SS" insignia of the elite troops of the Nazi army. That is a "repulsion," according to ExxonMobil, and will drive consumers away from its brand.

Gerd Leipold, Greenpeace executive director, calls the suit "ridiculous." He says ExxonMobil is trying to gag Greenpeace, rather than hold an open debate about whether burning fossil fuels leads to higher global temperatures. Greenpeace says the public's repulsion with the Esso brand should be "based on the facts of ExxonMobil's record of endangering our future."

Greenpeace is featuring the E$$O logo on its website, and has prepared an e-card with it so viewers can send it to friends.


Weber Shandwick sliced 14 staffers in Boston in response to the continued high-tech market slump. New England CEO Micho Spring said the firm is trying to offset the tech slump but stepping up activities in the biotechnology category.

Interpublic consolidated its Boston/Cambridge units last year by folding Miller/Shandwick Technologies, Weber Group and BSMG Worldwide into a single entity. WS has about 100 staffers in the area.


Fleishman-Hillard is handling baseball Hall of Famer Jim Palmer's summer tour of minor league ballparks raising public awareness of acid reflux disease on behalf of AstraZeneca, maker of Nexium.

The grassroots campaign, "Pitching in for Community Health," is being conducted in conjunction with the Coalition for Healthier Cities and Communities. Palmer discusses the importance of recognizing and treating everyday health symptoms.


Veteran PR counselor Tom (Barto) Bartikoski died June 26 on the Dutch-owned Caribbean island of Bonaire, where he retired to in October after 26 years in PR. The former Padilla Speer Beardsley senior VP and PRSA official was 51.

"Tom's contributions to our firm and to the PR field as a whole were extraordinary," said Lynn Casey, PSB CEO. She will miss Bartikoski's "passion, intelligence and wit."

Bartikoski joined PSB in 1983, as director of its PA practice. He was a strong advocate of PRSA's national accreditation standards, serving nine years on various panels and committees. He was on PRSA's national board of directors in 1999-2000.

Internet Edition, July 10, 2002, Page 3


Business Wire said it gets several "fake stories" every month that are caught and killed by its "sharp-eyed, knowledgeable editors."

BW reports in its June newsletter that it got the usual number of fake stories on April Fool's Day, including one from "one of the big fast food companies," which has been banned from ever doing business with BW again.

"They tried to pawn off a release announcing a name change. Our first check with their spokeswoman led to her insisting the name change was for real and they're still in shock about it," said BW.

BW editors did not believe her and kicked the release upstairs to a senior manager who suggested a request be made for a signed letter from a company officer stating that the release was legitimate.

The fast food company's VP of PR, when asked if the release was for real, finally said "No."


It was recently reported that Interpublic Group of Cos. hired an investment banking house to help it buy a major literary agency.

The ad/PR holding company also hopes to buy a significant Hollywood talent agency.

While neither Interpublic nor its banker, Allen & Co., would comment, Tim Rutten, a writer for The Los Angeles Times, said IPG's goal seems clear.
"Increasing numbers of viewers use new technologies to skip the ads on cable and free TV. As a result, advertisers have become preoccupied with weaving their products directly and visibly into films, miniseries and dramatic specials," said Rutten.

As an example, Rutten cites English novelist Faye Weldon who agreed to write a novel commissioned by the Italian jeweler Bulgari. In return for her fee, the writer promised to mention the firm's product at least 12 times in the course of her narrative.

"Such 'product placement' could be undertaken on an unprecedented scale by an ad agency not only able to control the content of books and stories through ownership of a literary agency, but also able to steer the right properties to its own talent agency and out the other end of the electronic pipeline," wrote Rutten.
"At each phase of the process, `the content' could be studded with clients' products," said Rutten, who notes a lot of Fortune 500 companies already pay major Hollywood agencies money for advice on just such marketing strategies.


Orbitz, the Chicago-based online travel company, is starting a website for gay and lesbian travelers.

The site, which will be identified by a tab on the home page, will feature information about cities with major gay populations and events on several continents. Other content on the site will include specially tailored travel deals and tips for gay and lesbian parents traveling with their families.

Orbitz will run print ads this summer in gay lifestyle publications such as Out, Curve, And Baby and Passport. The ads feature the rainbow colors adopted by the gay community and use the tagline: "See the world on your terms."


The New Island Ear, a 40,000-free circulation paper on Long Island, is starting a biweekly column written by Amy Fisher, who went to prison for seven years for almost killing her boyfriend's wife.

Now 28 and a single mother of a 14-month-old son, Fisher said in her first column in the June 20 issue that potential employees thought she was "rich and applying for the job as a publicity stunt. They didn't understand I was destitute."

Jane magazine is starting a new column in September written by Pamela Anderson, the former star of "Baywatch." She is expected to cover issues such as motherhood, women's health and domestic violence.

Philip Lempert, who publishes and The Lempert Report, a newsletter for the food industry, has begun publishing a weekly e-mail newsletter called Newsflash.

Lempert, who is based in Santa Monica, said the ad-free newsletter will provide news, tips and features about food, shopping and health issues.

Subscribers will have the opportunity to participate in the Consumer Panel where they can offer feedback about the latest food issues and products.

More information is available from Amy Goldsmith at 310/451-5427.

Dow Jones is starting a version of The Wall Street Journal Online devoted to healthcare topics.
Healthcare will be the focus across many of DJ's editorial products in the months to come.

Alex Steele's automotive column, which has been syndicated by Crain's News Service for several years, helps readers cope with the mysteries of automobile maintenance and repair.

Using a question-and-answer format, Steele helps people work with and understand the technical and confusing aspects of owning and maintaining today's technically advanced cars and trucks.

He interviews the manufacturer's top engineers in order to track down the correct repairs for problems, which in some cases have yet to reach the dealership floor.

Steele's column is currently published in many newspapers across the country along with major worldwide automotive magazines such as Motor Trend's Truck Trend.

Info.: Joe Hanley, CNS/New York, 212/254-0890.

(Media news continued on next page)

Internet Edition, July 10, 2002, Page 4


PR pros are increasingly distributing their clients' news not in printed form but through several digital means, according to Annie Deck, a reporter for The Buffalo (N.Y.) Business Journal.

As a result, PR pros are "taking the press out of press kits," said Deck, who noted PR material incorporating text, graphics and even audio components can all be sent electronically, using electronic mail; incorporated into an organization's website; or produced in the form of a CD-ROM or DVD.

Jonathan Gill, a senior A/E at Eric Mower & Assocs., Buffalo, told Deck that each approach has its own advantages and disadvantages.

Gill said electronic press kits offer an opportunity to present information in a visually appealing way with a much lower distribution cost than print.

Low Reproduction Cost

Kits and press releases sent in PDF format are ideal for small businesses with limited resources because they can be reproduced from printed materials at nominal cost and they can be read using Adobe's free Acrobat Reader software by virtually every computer user, said Gill.

CD-ROMs and web-based media rooms involve more expense, but add much greater flexibility in terms of graphics, photos, video, illustrations and audio elements, according to Gill.

While a website has the advantage of being easily updated, this is not the case for CD-ROMs, which get older by the day. The online newsroom can be updated on a moment's notice, he said.

One advantage of a CD-ROM kit is it is portable without requiring an Internet connection.

Mary Summers, director of communications for the Buffalo Niagara Convention and Visitors Bureau, said CVB's press kit has been downloaded more than 1,200 times so far this year from its website (

E-mail Is King

Gill, who contacts media outlets by phone to find out their preferred means of receiving releases before sending any kits out, has found more recipients are willing to get the information by e-mail.

Many reporters will not open an e-mail attachment sent by an unfamiliar user, he said. "That's why you call first. Very rarely do cold e-mails or mailings result in anything positive," he told Deck.

E-mail distribution and digital recording technologies are also useful for targeting information to investors, donors or potential clients.

In light of the SEC's new "Fair Disclosure" regulation requiring equal access to corporate information for all current or potential shareholders, Mike Barone, a senior A/E at Collins & Co., where he works in the IR department, told Deck when they speak to anybody, or make a presentation to a room full of 50 investors, that same presentation is available on the client's website within 24 hours.

Terry Fisher, president of Full Circle Studios, a Buffalo production company, said DVDs are more flexible and can reach a wider audience than CD-ROMs because you can use them not only on a computer terminal but also on a TV-compatible player.


The top three news websites in terms of "unique audiences" in April were (1),300; (2),845, and (3) Yahoo! News- 12,455, according to statistics provided by Nielsen/ NetRatings.

Rounding out the top 10 were: NY 7,569; ABC News-7,281; Gannett Newspapers- 5,995;,415; Time Magazine -3,472; Fox News-2,988, and MSN Slate-2,976.
The next ten websites were: Netscape News, Belo Newspapers, Cox Newspapers, CBS News, SF Gate, New York Post, iWon News, Reuters, USA Today News, and

The rankings of current events and news sites were based on a panel of 60,000+ Americans accessing the web at work and at home.


Dow Jones Newswire, a real-time business and financial news provider, has expanded its Spanish-language, U.S. and Latin American news service, DJ en Espanol, to include company news and stock market commentary from Spain and Europe.

Luce Press Clippings' chart of the circulation of America's top 100 daily newspapers, which was compiled from the Audit Bureau of Circulations' figures for the six months ended March 31, 2002, can be obtained free by calling 800/528-8226.

Exito, The Chicago Tribune's Spanish-language publication, has moved to the Tribune Tower: 435 N. Michigan, 3rd fl., Chicago, IL 60611. 312/527-8400; fax: 527-8468.

Justice Magazine will make its publishing debut in the first quarter of next year with a rate base of at least 250,000, according to Randall Lane, who is the former editor-in-chief of P.O.V., and a co-founder of the new supermarket magazine. JM will cover crime and court proceedings involving celebrities and others.

Bauer Publishing, which publishes First for Women, Woman's World and Soap Opera Update, is planning to start a new supermarket magazine about celebrities, called In Touch.

The magazine, which is set to debut in October with a 1.5 million distribution, will be edited by Richard Spencer, a former editor of SOU and J-14.

The James Beard Foundation awarded the M.F.K. Fisher Award, its top food writing award, to Alan Richman of GQ magazine.

Internet Edition, July 10, 2002, Page 7


(continued from page 1)

has happened to so many good people when they criticize companies. They are immediately told they don't know what they're talking about."

Cramer told listeners to avoid the stock, which has dropped nearly 50 points to around 45 since a Wall Street Journal article June 12. About $9 billion of OMC's previous capitalization of $18B has drained away at current prices. In addition, the entire ad conglomerate stock section has taken a hit because of the publicity on OMC, said Bear Stearns June 18.

Cramer gave his warning when OMC was trading at about $57. The stock later dipped to as low as $35.50, recovering to around $45 as of July 8.

OMC CEO John Wren charged that the WSJ article contained "numerous inaccuracies and some improper innuendoes." But OMC, when pressed by the WSJ, was unable to provide any specifics.

Callander's Resignation Is Key

Cramer, whose comments were repeatedly referred to on the Yahoo! message board for OMC, said the resignation of Callander as audit chairman must be taken with utmost seriousness.

Callander was formerly president of Chemical Bank and at age 71 "had seen everything," said Cramer.

"This guy Callander had a conscience and he came out and said, `I don't like what's happening,' and he quit. And...the WSJ terrifically picked that up and wrote a story about it and the stock went down 25 points but it's bouncing now."

Cramer said that when he expressed doubts about Tyco, the company called him and said, "Hey, you don't know what you're talking about (moans). I could've saved a fortune. And that's what I'm trying to do for you. I think OMC is going lower and on Jim Cramer's Real Money we put Omnicom on top of the `Danger Zone' list."

OMC Yahoo Message Board Is Active

Since June 12, more than 1,500 messages have been posted on the Yahoo! OMC message board. In contrast, less than 20 messages have been posted on the Interpublic board on Yahoo! since that date. WPP's Yahoo! board has drawn only about 170 messages since March 6, 2001.

The messages describe analyst views on OMC; provide links to articles on the company; report actions of the ratings agencies, and give opinions on the executives and policies of OMC. Many of the messages simply urge readers to buy or sell the stock or sell it short (borrow stock and sell it in the hope of buying the stock back at a lower price). Employees who are worried about OMC stock in their 401K plans are among the participants.

Some messages claim that OMC monitors the site and may even be posting messages. Almost all the message writers use pseudonyms.

Emotions run high and name-calling is popular. "May thirty dogs eat your face," said one contributor in criticizing another.

Wren's Appearance Sought

A June 25 message said: "Wren and company need to do more to restore confidence. Send a note to OMC IR as I'm sure thousands of others have. Simple question: what are they doing to restore credibility? I'll post it here if I get a response."

[Ed. Note: OMC has neither an IR nor a PR pro on staff; Patricia Sloan, a PR executive at the DDB unit, performs some PR duties for OMC.]

Another message addressed to "Any OMC employees," asked: "What has the company done to reassure you that this situation is under control? Has Wren done his...employee morale speech yet?"
Wren and CFO Randall Weisenburger each purchased 20,000 shares of OMC at $55.10 on June 13, the day after the WSJ article.

Wren, whose 208,712 shares owned outright were worth $18M when the stock was $90, had been granted options on two million shares at $79.50 in 2001. He already had options on 4.4 million shares that would have given him a profit of $84 million at OMC's price of $89 on Dec. 31, 2001. His salary in 2001 was $875,000 and he was also paid a $1.3 million bonus.

If OMC stock were to reach $165 in February, 2003, the target price for the $850 million in zero-coupon convertible bonds that were sold via Merrill Lynch, his "in-the-money" gain from the options on the two million shares would have been about $85 a share or $171M. The zero-coupon bonds give the holders the right to buy OMC at $165 a share in February 2003 (the strike price having risen at the rate of 5% per quarter starting at $110 in February 2001).

The bondholders, who are being paid no interest, have the right to demand their money back next February. A similar $900M zero-coupon offering via J.P. Morgan Securities also can be "put" back to OMC next July.

Economist Sees 'Communications Breakdown'

The June 20 Economist, under the headline, "Communications Breakdown," said that "for a company whose business is marketing and PR, OMC looks unhappily in need of the services it dispenses to others." It also questions the rationale for the ad/PR giants.

The magazine said the "saga at OMC" started after the WSJ "suggested that, while not infringing American accounting standards, OMC flattered its accounts." It says the growth of the "vast, global" ad conglomerates has "depended on a steady diet of acquisitions."

While media buying gives the ad agencies "volume discounts," said the Economist, "it is less clear there are any benefits for the creative side."

The magazine says some companies like to pick from a variety of agencies and don't want one conglomerate handling their business. It notes that the big independent agency Aegis is ahead of OMC in winning new accounts so far this year (in third place behind IPG and WPP).

Internet Edition, July 10, 2002, Page 8



The Yahoo! message board for Omnicom is performing for the press what the PR department of OMC would be doing if OMC had a PR department--tracking media, analyst and other mentions. We learned of Jim Cramer's blast on OMC from Yahoo! Important materials from the U.K. Financial Times and other media are also found there.

In normal times, before war was declared between the media and PR, reporters would tell PR pros what they had read about their companies and PR would reciprocate by tipping reporters off to articles, analyst reports, etc., that the reporters may have missed. The press and PR pros "traded" information so that both were kept up to speed. Reporters fact-checked with PR what they were going to write and in return, expected to be informed of any important company developments, upcoming events, etc.

The PR pros didn't want their bosses picking up the paper and being shocked by some unexpected story. Reporters didn't want their editors coming over to them and saying, "Why didn't we have this?"

This system worked well for many years since both sides benefitted. Sometimes one side benefitted more than the other but things were thought to "even out" over the long run.

But along came the "go-go" years when sales executives rose to the top of many companies and the stock market boomed. The press got increasingly confrontational with business and companies decided that what with the Internet, SEC filings and numerous other sources, reporters did not need more help, especially from the company itself.

We hoped this might be different with a giant company like Merrill Lynch. We called up PR looking for the literature on its complicated LYONs offerings (ML had done an $850 million zero-coupon LYONs bond deal for OMC). We got some materials from PR but wanted more, especially the New York Times column by Floyd Norris that said such bonds could be disastrous if the stock drops. We also wanted to discuss the LYONs with an expert at ML. The result of these questions is that PR decided not to speak to us anymore. (We got the Norris column via our own search of the Times archives.)

Many companies got the notion that since PR wasn't dealing with the press anymore, who needs PR at all? They either dispensed with PR or staffed it with neophytes who had basically no knowledge of the company and were incapable of telling reporters anything substantial. One PR pro said, "We are professionally dumb."

Some execs, including those at OMC, decided that to save money and keep tight control of the information flow, they themselves would deal with the press.

This has proved to be disastrous for OMC and the ad/PR field. CEO John Wren and CFO Randy Weisenburger, in an analyst teleconference June 12, the day a Wall Street Journal article stripped 20 points off OMC's stock, accused the WSJ of printing "numerous inaccuracies" and causing "key misperceptions" of OMC.

Wren at the outset of the conference (the press and public were barred from asking questions) gave the traditional OMC beef about the press--"it lacks an understanding or might have a biased point of view."
This is a particularly galling remark coming from a company that has enriched its top executives by the tens of millions (even with the stock drop) but which refuses to spend a penny explaining to reporters the many complexities of its financial statements (including the LYONs bonds).

The explaining/teaching role of PR has no place in OMC's universe. For many years it has opted to deal only with analysts who have remained loyal. Despite the halving of OMC's stock value, there is not one "sell" recommendation among the ten analysts who cover OMC. The chief supporter is ML's Lauren Fine, who gives the stock a long and short term "strong buy." ML not only did the LYONs offering, but holds 739,000 shares of OMC. There are two other "strong buys," six "buys" and one "hold" among the other analysts.

OMC's contemptuous, in-your-face attitude to the press is getting on the press' nerves. Jim Cramer , in calling OMC a stock to be avoided, said he is fed up with OMC and other companies telling critics "they don't know what they're talking about." The Economist, chiding OMC for its lack of good PR, says the company "looks unhappily in need of the services it dispenses to others."

More is at stake here than just OMC's stock price. The entire ad/PR field including the other public conglomerates is suffering. With at least 14 lawsuits charging improper financial reporting now lodged against OMC, and major media pounding at OMC's doors, the company should give up its incestuous love affair with the analysts and face the public aided by expert PR advice.

Interpublic, WPP Group and Publicis are just as uncommunicative as OMC. IPG executives, after refusing to be interviewed by us after the annual meeting May 20, promised to answer questions we presented in writing. None has been answered. WPP stopped communicating with us after we pointed out in February that its confusing earnings reports contradict CEO Martin Sorrell's pledge in a NASDAQ ad not to disseminate such reports. Publicis, which only reportsfinancially once a year under French law, has no one in the U.S. with whom we can discuss its finances.
--Jack O'Dwyer


Copyright © 1998-2020 J.R. O'Dwyer Company, Inc.
271 Madison Ave., #600, New York, NY 10016; Tel: 212/679-2471