Bay Facebooks, Hyundai Reviews, Draft/FCB Sued, IPG Losests rate

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– San Francisco’s Bay Area Interactive Group parties Facebook-style for its REACH Mixer.

– Five agencies, Optimedia, Initiative, Havas Media, Horizon Media and Carat are in a shoot out for the $800 million Hyundai/Kia account.

– A former Draft/FCB employee is contemplating filing a lawsuit against the company claiming it routes all work through the agency’s “PUSH” process when it could have been done more cheaply outside the network.

– IPG, today posted a third quarter loss of $21.9 million.

– MDC has upped its stake in Crispin Porter + Bogusky from 49 percent to a controlling 77 percent. And there goes another “independent.”

– Newsweek has dropped its rate base 500,000 to 2.6 million. The trees are having a party.

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Steve Hall

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