Yes, we just wrote this up.
But we can't get over it. GM is pulling $10 million in ad spending from Facebook because it doesn't think Facebook ads are worth a damn.
The question is whether this is an isolated incident, or indicative of a much bigger problem.
Here's the money quote from the WSJ:
GM, started to re-evaluate its Facebook strategy earlier this year after its marketing team began to question the effectiveness of the ads. GM marketing executives, including Mr. Ewanick, met with Facebook managers to address concerns about the site's effectiveness and left unconvinced advertising on the website made sense, according to people familiar with GM's thinking.
