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If you throw all the products we buy and the services we use in one basket, then add up the price tag, that's the Gross Domestic Product, which is the primary metric economists use to assess the economic health of a country or region.
The easy part of calculating GDP is the calculation itself: C+I+G+(X-M)=GDP. Got it? No? Well, add Consumption, Investment by companies, Government purchases, and then take the product of eXports (calling it 'E' would lack sexiness) minus iMports ('I' was taken). Viola! GDP.
Still don't get it? Well, knowing the components helps. Consumption is the biggest component, and it's a tally of the cost of all the goods and services we buy. Investment is what companies spend on the real assets they own, plus the value of the inventory that we haven't gobbled up through consumption. Government purchases are what the Feds pay money for (whether it be highways or fighter jets, though big social programs, like welfare, aren't counted). And then we calculate the difference between the goods and services we¿re sending to other countries and the stuff we're bringing in.
Good. That explains it, except there's a catch. Inflation has a habit of distorting the numbers, so economists talk about either Nominal GDP or Real GDP. In fact, Real GDP isn't necessarily "real" for most folks, since it takes any inflation out. Nominal GDP includes the effects of inflation. (There's something called the implicit price deflator which is a calculation using the two, but we'll spare you the details.)
So, now that we know GDP, why do we want to? Well, it's good to compare different markets. And watching the trend shows whether a given economy is growing (good), stagnating (not so good), or shrinking (very not so good). When GDP goes down two quarters in a row, we're officially in a recession.
For the record, GDP is released at the end of each month, with most reporting ¿preliminary¿ data for the previous month. But you won't get final GDP numbers for the fourth quarter of a year until the very end of the first quarter of the next year. After all, it's not an easy number to calculate.
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Friday, July 25, 2008
John Farrell Resigns as President & CEO of Publicis Groupe SAMS Worldwide
Comtex
PARIS, July 25, 2008 /PRNewswire-FirstCall via COMTEX/ ----Publicis Groupe announced today the resignation of John Farrell, President & CEO of the Groupe's Specialised Agencies and Marketing Services (SAMS), with effect from July 1st 2009. John Farrell joined Publicis Groupe in 2003 as a result of the B/Com3 acquisition, where he was worldwide President & CEO of D'Arcy Masius Benton & Bowles.
Under John Farrell's leadership, since 2003, Publicis Groupe's SAMS operations have grown from 23% to 36% of the revenues of a now much larger group, which is made up of some of the leading assets in the industry. Over the last 5 years John Farrell has also played a leading role on Publicis Groupe's global mergers and acquisitions strategy, and has been instrumental in inspiring many of the Groupe's most important acquisitions, such as Digitas, Freud Communications in the UK, and Kekst in the USA.
Maurice Levy, Chairman & CEO of Publicis Groupe commented: "I am very sorry that John has taken this decision, as he has done an outstanding job for us defining the strategy of SAMS, and building the business to its current important level. It's typical of John's professionalism that he has agreed to continue working with me and the other members of the P12 on executing our transition plans for SAMS over the coming months. John's impressive knowledge of holistic communications has made him an invaluable member of our Groupe executive committee, (the P12), and he will be missed. I would like to sincerely thank him for his many contributions to the Groupe's success. I also want to wish him well with his new adventures, and have absolutely no doubt about his continued success!"
John Farrell added: "I am proud of the substantial SAMS business we have created together, and am fully committed to ensuring their further success before my departure. I set out to build a robust, quality presence for Publicis Groupe SAMS, and at 36% of the groupe revenues today, I feel that's achieved. This was a tough decision for me as my 5 years at the Publicis Groupe have been some of the most exciting of my career. It has been a privilege and an education to work with Maurice, my P12 friends and colleagues, and alongside the inspiring people of Publicis Groupe, and I am now looking forward excitedly to the next phase of my professional life!"
About Publicis Groupe
Publicis Groupe [Euronext Paris: FR0000130577] is the world's fourth largest communications group. In addition, it is ranked as the world's second largest media counsel and buying group, and is a global leader in digital and healthcare communications. With activities spanning 104 countries on five continents, the Groupe employs approximately 44,000 professionals.
The Groupe offers local and international clients a complete range of communication services, from advertising through three autonomous global advertising networks, Leo Burnett, Publicis, Saatchi & Saatchi and two multi-hub networks, Fallon and 49%-owned Bartle Bogle Hegarty; to media consultancy and buying, through two worldwide networks, Starcom MediaVest Group and ZenithOptimedia; interactive and digital marketing led by Digitas ; Specialized Agencies and Marketing Services offering healthcare communications, corporate and financial communications, sustainability communications, shopper marketing, public relations, CRM and direct marketing, event and sports marketing, and multicultural communications.
Web Site: http://www.publicisgroupe.com
SOURCE Publicis Groupe Services
Copyright (C) 2008 PR Newswire. All rights reserved
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