• All Things Digital, Friday, November 21, 2008 9:45 AM

Workers who have recently been let go from media companies can try blaming consumers for not buying more American cars in the last year, and auto companies for spending less to convince them.

Car companies' spending cuts of 10% in the first half of 2008, per Nielsen, confirms all the anecdotal evidence media companies have been offering up throughout the year. It also means that the numbers for the second half of the year -- when the economy really collapsed -- are going to be brutal. That explains why everyone from Time Warner's Time Inc. to NBC is looking at dwindling ad revenue for the foreseeable future -- and handing out pink slips.

The buck stops in Detroit. While some imports, like Toyota and Honda, actually kept ad spending steady or increased it, the formerly Big 3 have all made big cuts.

Read the whole story at All Things Digital »