GM Says No to Facebook

Just as Facebook prepared for its anticipated record-breaking IPO, GM threw a little cold water on Facebook's party. GM announced that it was going to stop advertising on Facebook, saying that the ads were ineffective. The Wall Street Journal and the Detroit News <http://www.detroitnews.com/article/20120515/AUTO0103/205150423>  have reported the change, while also pointing out that the $40 that GM spent on Facebook ads and developing its brand page are a tiny fraction of the auto giant's annual marketing budget.