Word: braniff
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Dates: during 1960-1969
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Earnings Up. The campaign was the idea of TWA's adwoman, Mary Wells Lawrence, who also started the battle of the frills in 1965 when she persuaded Braniff to paint its planes pastel and outfit the stewardesses in original Pucci culottes. After she married Braniff President Harding Lawrence, it became obvious that the family relationship was too cozy for business. The conflict was resolved last summer when she won the TWA account and Braniff dropped her. Last week she announced that earnings of her agency, Wells, Rich, Greene Inc., rose 63% to $801,000 during the first half...
Conspicuous Losers. The big losers were Lyndon Johnson's most conspicuous winners. Houston-based Braniff, which has strong ties to the old Administration, lost a stopover in Mexico, although it retains several new runs to Hawaii which, as domestic routes, are not subject to presidential review. Under the Johnson decision, Los Angeles-based Continental Airlines stood to grow from the eleventh biggest U.S. trunk line into a sizable international carrier serving such South Pacific spots as Samoa, Australia and New Zealand. Continental's President Bob Six had served the previous Administration by providing extensive-if not always clearly...
...million; in the year's fourth quarter, they plunged 58%. In order to finance the takeover of J. & L., Ling had to negotiate short-term bank loans of $225 million; he has been meeting that obligation by selling off LTV assets, including part of its interest in Braniff Airways. Further sales of assets may be necessary to pay off LTV's total indebtedness of $900 million...
...made Wells, Rich, Greene one of the nation's fastest growing agencies. Just two weeks ago, it won the Royal Crown Cola account, which raised the three-year-old agency's annual billings to $100 million and put it among the top 30 ad agencies. Like Braniff Airways, a former WRG client, and American Motors, a current one, Royal Crown trails the leaders in its hotly competitive field and counts heavily on snappy advertising for recognition...
...overextended himself, as he did in 1961 when he almost lost control of his company. Last year Ling borrowed $900 million to snare Jones & Laughlin, National Car Rental, and Braniff Airways whose latest advertising campaign shows odd couples flying high. He tried to refinance part of that debt last fall, but investors spurned his efforts. Ling scoffs at the doubters. "This is just the year to kick conglomerates," he says. He planned to sell off a small slice of Braniff, most of National Car Rental and perhaps a few other securities to raise all the funds that he said...