The mayor of Bridgeview, Illinois, said building a taxpayer-financed arena for the billionaire owner of Major League Soccer’s Chicago Fire would bring hotels and restaurants to his suburb. Instead, the town has more than doubled property taxes and may raise them again to pay more than $200 million in stadium debt.
As Publicis Groupe SA and Omnicom Group Inc. work through regulatory delays to their plan to create a new leader in advertising, rivals say they’re picking up disgruntled customers and ad executives who fail to see how the merger helps them.
Interpublic Group of Cos. plans to bolster business in new markets such as Brazil and China as researcher ZenithOptimedia cut its growth forecast for the advertising industry this year amid the European debt crisis.
Interpublic Group of Companies Inc., the second-largest U.S. advertising company, forecast the London Olympics this summer won’t be enough to offset a tough ad market in Europe because of the sovereign-debt crisis.
Don Ahern, who built Ahern Rentals Inc. from mom-and-pop beginnings into an equipment empire with $382 million of annual revenue, is running out of time to keep his company out of the hands of buyout billionaire Tom Gores.
Interpublic Group of Companies Inc., the second-largest U.S. advertising company, surged the most in 2 1/2 years after forecasting full-year organic revenue growth of 4 percent to 5 percent, or better.