Ad Age asked all the holding company chiefs for their view on the turbulent economy. Here’s the CEO mashup: “Obviously, we are shocked by the fall of such significant and powerful financial institutions … The moves in the stock market during the last two weeks are unprecedented … The volatility in the financial markets is clearly creating uncertainty for both marketers and consumers … It is changing by the hour. You’ve seen in a few days the stock price of Goldman Sachs go down by 40%, and today some banks are 26% up … The current economic situation translates into an increased focus on measurability and return on marketing investment.:
I’ll give the final word to Sir Martin Sorrell: “It seems to me that the media are too focused on instant responses, when time will tell.” Thanks Mart.