On September 9, 2009
Interpublic’s PowerPoint From Hell: 3,000 Layoffs May Not Be Enough
Interpublic presented to investors an exaggerated slide showing its organic revenues falling off a cliff. The slide is presented in percentage changes, not actual revenues, so the trend is comically exaggerated. Why would CFO Frank Merganthaler do this? He wants investors to price in all the bad news as soon as possible.
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