Word: cones
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...Manhattan's frisky Papert, Koenig, Lois created a sensation on Madison Avenue by going public. The sale of shares made near-millionaires out of the agency's three young founders, and stock that came out at $6 a share is now up around $10. Last week Foote, Cone & Belding-the nation's seventh biggest ad agency, with billings of $135 million-put some shares on the market. It looked as if public...
...boss of Foote, Cone-Fairfax Mastick Cone, 61-concedes that advertising seems a risky investment because clients are continuously switching and an agency's only real asset is brainpower, a perishable and uncertain commodity. "Our inventory goes down the elevator every night," muses Cone. But he sees a sign of stability in his agency's steady growth, up 40% in four years...
...Foote, Cone sold 500,000 of its 1.2 million common shares. Simply by making a market, the agency boosted its shares from the book value of $6 to the offering price of $15.50. "Fax" Cone sold 38,000 of his shares for a tidy $541,500, while President Holland W. Taylor disposed of 46,313 shares for $659,960 and Chairman Robert F. Carney sold 83,041 for $1,183,000-taxable at no more than 25% as capital gains. These key executives relinquished only part of their holdings...
Although a public market for shares can also potentially help an agency to raise expansion cash and recruit fresh talent by offering stock options, some of Foote, Cone's competitors were skeptical about letting the investors in. A Young & Rubicam executive thought that the public disclosure of low agency profits would soon disillusion investors. Others felt that an agency's shares would plummet whenever it lost a rich account. But many on Madison Avenue were reconsidering. Said President Rudolph Montgelas of the Ted Bates agency, the nation's fifth largest: "If Foote, Cone is a great success...
Gentle Birds. Braque's real master was Cezanne. And he followed his mas ters voice: "Treat nature in terms of the cylinder, the sphere and the cone." Braque found his cylinders, spheres and cones in still life-guitars, jugs, cigarette packages, knives and newspapers -and he projected his internal emotions into this world of objects. He painted few human figures, confessed that he found the human form ugly. While his comrade in Cubism, Picasso, was sensual, Spanish, and an endless innovator, Braque was rational, French, and restrained. As Braque explained in 1917: "The senses deform, the mind forms. Reality...