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

Everyone hide before a pink slip hits you.

It's not just scores of auto suppliers that could follow Chrysler into bankruptcy - 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.