The AdMarket added 3,200 U.S. jobs in May, the fifth consecutive monthly gain. Ten sectors grew; four (newspapers, radio, direct mail, TV broadcasting) fell. Magazine jobs have been virtually flat since hitting a post-recession bottom in May 2004; magazines have cut 33,000 jobs since the 2000 all-time peak, and magazines employ fewer people now (140,100) than at the nadir of the early '90s recession (142,500).
Focus on: Interpublic Group of Cos. (ipg)
Three years ago this Aug. 5, Interpublic said it was delaying its earnings report to give the board audit committee more time to review financials. The already-depressed stock plunged 24% that day, setting the stage for restatements, an SEC inquiry and weak operating results that continue to beset the No. 3 holding company. Frank Mergenthaler starts today as chief financial officer, its fourth since troubles began. He has 61 days to get late 2004 and first-half '05 financials filed by Interpublic's Sept. 30 deadline.
1. Market cap plus debt minus cash 2. 2004 preliminary, unaudited. 3. Not yet reported.
Source: Bloomberg, company reports, Ad Age analysis
Last week's score
The AdMarket 50 closed the week virtually unchanged, with 22 stocks up, two even and 26 down. The Wilshire 5000 July 28 hit a post-recession high.
Advertising Age and Bloomberg's AdMarket 50 tracks 50 top marketer, media and agency companies. Bloomberg symbol: BAAX