Word: globally
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Dates: during 1980-1989
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...could a firm long heralded for its go-go brilliance stumble so badly? Somehow the company that transformed the advertising industry worldwide during the 1980s seems to have lost its alchemist's touch. Deepening the management mystery, Saatchi & Saatchi profits fell while its global advertising business continued to thrive: the company's revenues reached $1.5 billion this year, up from $1.35 billion...
...Dreyfus, the Saatchis have harked back to the skill that transformed their small agency in London's Soho district into an international behemoth: hard-nosed financial know-how. The Iraqi-born brothers convinced London investors a decade ago that the ad business was an intriguing play. The logic of global corporate expansion, they argued, demanded an agency that could provide one-stop shopping for multinational firms interested in advertising and marketing services that stretched from Asia to North America to Europe. Such an agency could help companies build worldwide markets for their brands and could reap extra profits from efficiencies...
Until the brothers hit the apex of the ad world, no one questioned their claim to have a grand strategy that would turn their empire into a finely tuned global machine. But the first crack in that facade occurred in January 1986, just two months before the purchase of Bates, when longtime finance chief Martin Sorrell departed to start his own agency. Sorrell, who had grown restive as a Saatchi subordinate, has since assembled an agency group, WPP, with annual revenues of $1.2 billion. Close observers of Saatchi & Saatchi date the firm's financial drift from Sorrell's departure. Says...
COVER: Money laundering is a thriving global business whose customers range from drug kingpins to tax dodgers...
...Western world. They are now in the process of restoring some of those connections, of rejoining that process. They are much , more willing to be self-critical and to listen to criticism. They appreciate the degree to which the Soviet Union has fallen out of step with global development, and that has driven them in the direction of seeking far-reaching changes...