NEW YORK: Chairman emeritus of Interpublic Group Philip Geier (pictured) knows how to rescue the US economy and – by extension – that of planet Earth. Moreover, he's dug deep into his own pocket to reveal how, taking a full-page ad in the New York Times.
His rationale? "We've got a new government; they're looking for fresh ideas and this is the way to communicate it quickly".
Geier's ad takes the form of an open letter to Times readers. It posits a three-tier, across-the-board tax cut, sent to consumers as government-certificate checks.
These would be redeemable for discounts on purchases of a range of goods, among them cars, computers, household appliances, restaurant meals and grocery store items.
Another suggested option is that the checks could be combined for a large purchase or a lease or down-payment commitment.
Explains Geier: "The economy is tanking, the housing bubble has burst and consumer spending threatens to fall through the floor. If the consumer doesn't spend, the economy will not improve."
Below his signature on the letter are his job titles as chairman emeritus of the Interpublic Group and chairman of his own consultancy The Geier Group.
Despite Geier's use of his honorary IPG title, his ad/letter was reportedly not approved by Interpublic, which also refused to comment on the initiative.
Data sourced from AdAge.com; additional content by WARC staff