Facebook ad network not close to complete

Eager Madison Avenue executives be warned: Facebook, we told you, is planning to announce a new ad network in New York on November 6. Likely to be called SocialAds, the network will draw on the personal information users make available on Facebook to target advertising across the Web. New York ad agencies plan to pack the house, desperate to participate in the latest craze — or at least not appear clueless when they gab with their clients. But now, AllFacebook reports the SocialAds network is not close to being ready. Will the advertising agencies be dismayed? Not likely. Remember, these are the people who fund a season's worth of broadcast TV based on a clip from a pilot months before any actual episodes are written.