Word: billingses
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At present Thompson's domestic troubles are partially offset by a rush of business from its long-established overseas branches. Last year these subsidiaries accounted for slightly more than half the company's net income, and this year they are expected to produce more than half the billings...
Last week Thompson disclosed that its third quarter was the worst in memory. Profits fell from $959,000 in the same quarter last year to $70,000. Much of the decrease, agency officials assert, was caused by rising costs and an earnings decline in the company's Puerto Rican...
Thompson has been drifting into trouble for some time, a victim of bad luck, overconfidence and the relentless forces of change. In the past year and a half the agency has lost $50 million in billings, including such choice accounts as Ford's Pinto and Maverick cars, the domestic...
The agency is in no imminent danger of losing its preeminence. Its worldwide billings from 56 branches in 25 countries still run about $180 million ahead of those of McCann Erickson, its closest rival. Though Thompson does not have a reputation as a supercreative agency, many of its campaigns, including...
Thompson, though, still works hard to persuade its clients to take all its services and pay the flat 15% fee. That line has cost it some accounts, including Firestone. Says Firestone's advertising vice president, Allen E. Brubacker: "We already had good research and media departments, and taking these...