Timberrrrrrr! - Omnicom faces class action lawsuit over Accounting.
The suit charges chairman John Wren, who made an important investment in my company in 1995 when Omnicom was snapping up interactive companies left and right. He was always honest and very open with us in our business dealings and always ready to help. Sometimes he could be a real prick if he didn't get his way, some of that probably even wore off on us :-)
We never were 'owned' by Omnicom, because we took our company public in 1996 (well before the dot-com hype) and made him millions on his (smart) investment.
Unfortunately our brethern did not fare as well. Razorfish, Agency.com and others stayed connected to the mothership, went public admidst the 'bubble', and skyrocketed, only to fall back to earth in heaps of molten crud, where assets were apparently written off in an off-book transaction vehicle known as Seneca.
Omnicom owns ad agency networks like BBDO Worldwide, DDB Worldwide and TBWA Worldwide as well as direct shops like Rapp Collins Worldwide, Targetbase and Direct Partners and are arguably the second lagest owner of Advertising service companies.
Oh yeah, Anderson used to do their accounting.
10:41:57 AM
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