When WPP's Sir Martin Sorrell pronounces on the state of the advertising industry – or, increasingly, industry in general – important people listen. So when he told the world last week that the current recession is going to be L-shaped (that's severe and prolonged) important people agreed. L-shaped it will be, then.
Does this 'inside story' of advertising from one of its gurus wash whiter? Stephen Bayley hears the pitch