I wouldn’t want to be working at a Detroit Ad Agency today
November 20, 2008
The Market is pricing General Motors Corporation for no bailout, meaning bankruptcy. $2.21 is the current price and dropping (down 21% so far today). I really wouldn’t want to be working for an advertising agency located in Detroit today. Things will tend to spiral from there as it won’t just be limited to General Motors if shit hits the fan. General Motors (like all other car manufacturers) use a massive list of suppliers to make these automobiles, from headlights to special bolts. In some cases there are only 2 vendors of these parts and a GM collapse can in turn collapse these vendors. Meaning that Ford and Chrysler cannot get the parts they need as for some vendors, well over 60% of their revenue was from GM… leaving manufacturing plants stalled. IE: money paid to workers to just sit there waiting for the assembly line to turn on.
This is the last thing that people want happening… as whatever was left for Advertising now is going to payroll.
This is bad.
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