Watch out for the pink slips: Chrysler owes BBDO Detroit $58 million

Adland: 

Everyone hide before a pink slip hits you. It's not just scores of auto suppliers that could follow Chrysler into bankrupcy - we'll be hit hard as well. Ad Agency BBDO Detroit is owed $58 million. This is why the Omnicom Group passed the buck and tried to turn all you commercial artists into a bank for them when GM's terms changed to read "will "typically" pay ad agencies within 60 to 75 days of an invoice, who will then pay the photographer (or "vendor")". I hope everyone took the advice given by the likes of the AICP and others then and didn't extend credit to car companies and their ad agencies.

about the author

Dabitch Creative Director, CEO, hell-raising sweetheart and editor of Adland. Globetrotting Swede who has lived and worked in New York, London, San Francisco, Amsterdam, Copenhagen and Stockholm.

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