Word: tobacco
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Dates: during 1960-1969
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...other industry giants, General Foods Corp. and American Tobacco Co., also had good news for stockholders. General Foods directors recommended a 2 for1 split, boosted the quarter common-stock dividend from 65? to 70?. At the annual meeting, American Tobacco Co. stockholders approved a 2-for-1 split, with a planned quarterly dividend increase of 7½? per share, to 57½? on the new shares. Company President Paul M. Hahn told shareholders that sales and earnings in the first quarter this year would exceed the first quarter last year, when American Tobacco earned $1.85 per share on sales...
...into fourth place in the industry before he was forced to retire from active leadership after a stroke. No sooner had Brower taken over than he faced a passel of trouble. Revlon, Inc. pulled out its $7,000,000 account. Then, to avoid trouble with its $17 million American Tobacco account, BBDO resigned its $1,500,000 account with Reader's Digest, after an unfavorable cigarette article appeared. "Being an intellectual uninterested in money," quips Brower, "I resigned the one that billed the least...
...tobacco industry, which ships 25% of all its exports to the six Common Market nations, faces a 30% tariff this summer. The common tariff, when fully applied, will be three times higher than the group's present average. Although cigarette consumption is rising throughout the world, U.S. makers have been hit by tariff increases or outright bans on imports by 65 nations during the past three years. Venezuela, traditionally one of the U.S.'s biggest cigarette customers, has banned cigarette imports...
...Same? Despite all the claims and counterclaims, says W. P. Hedrick, tobacco marketing specialist for the North Carolina Department of Agriculture, "all the companies buy the same tobacco...
They may have slightly different formulas, but essentially all cigarettes are the same." What makes the difference is flavor ?each company has its secret recipe?and heavy advertising. The tobacco industry is the nation's fourth biggest advertiser (after food, autos, soap), spends more than $200 million a year. Reynolds has the biggest budget (more than $50 million), gets more benefit from it by concentrating only on its three top brands...