Badly, is the answer, but perhaps not uniformly so. There are specific reasons why corporations eschew the corporate offer of global networks - budget scrutiny has seen in-house resources rise at the expense of outsourced contracts, while the finessed offer of financial PR firms creates a rival pressure from a different direction.
2003 will show whether WS is right to doubt the viability of corporate PR per se, or whether this is an experience unique to WS.