Sitting off the lobby, where many are gathered around the display of #ommaglobal tweets, it's hard to hear the speaker in this room. Lots of talk, lots of interesting discussions. Looks like another great OMMA Global so far!

Michael Lanese, CEO, ClearSaleing, Inc.: From last click to even, exclusions, to rules based to mathematics ... We look at Introducers, Influences and Closers. Banners: When you get a branded click, it'll be cheaper. Display and search operate in a joint fashion. It would be nice if search, display guys talk to each other. Reducing to dollars and cents, instead of looking at last click profit, expose complexity. When you look at influencers, you must be aware that while they may not appear to be effective until you do the math. If you're taking holisitc attribution approach, you're …

Esco Strong, Director, Microsoft Advertising Institute: Conversion attribution = frequency, recency, ad size, Case study: Alltel, subsidiary of Verizon Wireless, what was synergy between search and display? Was there any lift in conversion? About 56% lift. Lot going on beyond that last click for Alltel. Crediting guys at top of funnel, doing heavy lifting early on but not getting credit. Bi-modal graph: search engines affliliates at very bottom; everyone else 14 days or higher. Much in line with people's intuitions. Media buyers know this. This funnel concept held in digital; it was very close to people's intuition. …

Jonathan Miller hesitates to use the word remnant, and wants to create a new designation between premium inventory and remnant inventory he'd called "targeted" inventory. "There is tension between premium inventory and ad network inventory," but they'll continue to coexist. "I think remnant is a third category," he says. One of the next phases is getting more sophisticated in dealing with the way inventory is handled, say Miller.

Just when the OMMA Global marketers' panel conversation was going so well, New York Times digital czar Martin Nisenholtz asked the buzzkill question so far this day. Noting that new FCC chairman Julius Genakowski is speaking later today about "net neutrality," Nizenholtz asked AT&T's Greg McCastle what his company's position and plans were on the subject. You could hear the crickets chirping in the room, as McCastle demured. Nisenholtz, by the way, will be speaking later today. So stick around to hear what Martin has to say about it.

NY Times digital chief Martin Nisenholtz asked AT&T's McCastle about the company's stand on net neutrality in connection with speech by FCC chairman Julius Genachowski today proposing a new net neutrality rule saying carriers shouldn't block certain types of traffic on their networks. McCastle seemed flummoxed by the question, even though he had just discussed AT&T's strong adherance to privacy principles. He punted the question to AT&T's "privacy people."

That's what Deborah Schultz of Altimeter Group cautioned OMMA attendees, emphasizing that thinking of social media as a marketing platform -- in and of itself -- is a big "mistake." "It think this is a huge mistake," she said. "It is a major shift. It may have an advertising component in it, but it is not just a marketing channel."

Deborah Schultz, Partner, Innovation Practice, Altimeter Group, at OMMA Global New York says don't think of social media as a marketing channel. This is much bigger, and we're only at the beginning. This may have an advertising piece to it, but it is not an advertising media. It is the grease that skids the Internet and our lives.

Iteration, and reinvention are a big, ongoing theme at OMMA Global this morning. It was cited by News Corp. digital czar Jonathan Miller, and it was echoed later by Digitas' Jordan Bitterman. "This thing needs to coninually be reinvented," Bitterman said, cautioning OMMA attendees that they would likely hear more, equally vague comments throughout the day. "It's vague because there is no set rule yet," he said, adding that it will take considerable time and resources for the industry to create standarized advertising systems for social media.

Greg McCastle, svp for advertising and publishing at AT&T, echoed Jonathan Miller's comments from prior panel about adding value if companies are expecting to consumers to pay for social media services. But AT&T and the other major wirless carriers already have an advantage over their online counterparts b/c people already expect to pay for everything in mobile--extra fees for data services like video or music and 20 cents a pop for text messages. The carriers want to maintain those fee-based services while adding advertising so they have the dual-revenue of of the cable companies. But before they think about …