Below is a list of the stock options outstanding to shares outstanding as of December 31, 2008 at the largest advertising holding companies. It measures the upside on the company the board and management have given away to employees:

1. WPP 3.6%
2. IPG 5.2%
3. Publicis 8.3%
4. Omnicom 14.3% as of 3/31/09

Omnicom has a total of 44 million stock options outstanding compared to 307 million shares outstanding.

This is insane. If I have ever seen a case of legal robbery at an established company this is it.

Keep in mind that OMC just issued a total of 25.5 million stock options in the 4Q 08 and the 1Q 09 with an exercise price around $23-25.

If you own shares, your have just been significantly diluted. Write to the board and management and tell them your thoughts. At least WPP has an anti-dilution policy.

Get off your butt and write to: IR@omnicomgroup.com

And then vote against any future stock compensation plans.