Word: deale
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Dates: during 1980-1989
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Paul Newman, superstar, race-car driver and purveyor of his own name-brand salad dressing, has long avoided the big-time endorsement deals that many of his Hollywood peers covet. Too commercial, he was thought to feel. But last week word circulated that the star of Cool Hand Luke and Blaze had agreed to do a TV spot for American Express for a reported $2 million to $5 million. Meryl Streep, another holdout in the celebrity-endorsement sweepstakes, is also believed to be considering a deal with Amex, but corporate officials have refused to comment...
...stars are known for their charitable work and have high credibility with consumers. Ad-industry sources speculate that their commercials will be cause-related, perhaps addressing the environment. The prime beneficiary, though, is Amex, which can use the big box-office names to counter Visa's $8.5 million endorsement deal with Paul McCartney...
...Motors a 50% interest in its car-making operations, which had 1988 sales of $2.6 billion, for some $600 million, plus a promise that GM will invest another $100 million. Saab, which also makes trucks and aircraft, will spin the auto holdings into a subsidiary to carry out the deal...
...when Ford started courting the company earlier this year. After the collapse of those negotiations, auto-industry analysts expected Italy's Fiat to be the winning suitor. For Saab-Scania, which lost $123 million on its car-making operations in the first half of 1989, the advantage of the deal was access to GM's deep pockets. GM will gain badly needed production capacity at Saab's five plants in Europe, plus a stronger position in the U.S. and European luxury-car markets...
...president Kim LeMasters resigned. His departure was not unexpected, but CBS's delay in naming a successor was. For a time the network dickered with Marcy Carsey and Tom Werner, producers of The Cosby Show and Roseanne, but negotiations fell through. Finally, late last week, the network completed a deal with Jeff Sagansky, 37, a former NBC program executive who heads Tri-Star Pictures, which produced this fall's hit movie Look Who's Talking...