Word: peete
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Ayer's bad news was not the biggest in the agency world last week. Colgate-Palmolive-Peet Co., No. 2 U. S. soapmaker (No. 1: Procter & Gamble), which spent well over $6,000,000 last year to sell Palmolive soap and 432 other items, abruptly announced that after Jan. 1 Benton & Bowles would handle C-P-P advertising no more. This bombshell was followed by another: B. & B.'s $1,000,000-a-year Continental Baking Co. account also went into other hands. These losses will cut the agency's annual billings about in half...
...next month). After he left Batten, Barton, Durstine & Osborne to join B. & B. in 1935, the Continental account followed him. Last January Adman Bates also took over the Colgate account. Last week there were changes at CPP, of which those at B. & B. were an echo. Advertising Director Roy Peet, with whom Bates worked, moved upstairs to be assistant to President Edward Herman Little. And Adman Bates was given the option of forming his own agency to handle part of the account or of staying on at B. & B. without it. He chose the former. His new agency will handle...
...last week Gang Busters faced a foe that got them down. Convinced that Gang Busters might be catching crooks but were not selling Cue, the liquid dentifrice, Benton & Bowles, acting for Colgate-Palmolive-Peet, decided not to renew their contract. Still shooting, still with their boots on, Gang Busters vacated the air waves, waited for Phillips H. Lord, their entrepreneur, to send them out on a new crusade...
...working Edward Herman Little. A North Carolina farmer boy, Soapman Little was doing fine as Colgate's Memphis district manager when tuberculosis sent him to Denver in 1911. Three years later he came back, cured, went to work for Caleb Johnson, rode out the mergers, took over Palmolive-Peet's foreign division and boomed it. In his two years as president he has stepped up his firm's gross profit from .3% to 10% of sales. What that means was handsomely illustrated in C-P-P's preliminary annual report for 1939, out last week. Total...
...material purchases, will thus have added to its present hoard of $2,600,000,000 in liquid gold and dollars. On Solicitor Gifford's first list were equities in plenty of profitable U. S. industries -Du Pont, Douglas Aircraft, American Tobacco, Santa Fe, Norfolk & Western, Colgate-Palmolive-Peet. Last week many a hungry broker hoped he would be tapped for help, get a fat commission in their sale. But who would be tapped, what commission would be paid, how rapidly the first block of equities would be sold, few in Wall Street knew, if any knew...