The Week: GM collapses owing Interpublic and Publicis $167m

General Motors owes Interpublic and Publicis agencies $167 million in unpaid bills, according to the bankruptcy filing made by the automotive company this week.

The majority of the money owing, $121 million, is to Publicis' Starcom MediaVest agency for unpaid media bills. Interpublic Group is owed $16 million, Publicis Groupe $25 million and McCann Erickson $4.6 million.

Despite owing money to a long list of creditors and filing for bankruptcy with $172 billion of debts, GM has since launched a new US ad explaining that filing for bankruptcy will result in a stronger GM.

In Europe, the situation is less dire for GM's creditors as the German government has arranged a bail-out of its European operations financed by the Canadian company Magna International and Sberbank, a state-owned Russian bank.

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1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).