Edition, September 18, 2002, Page 1
HALLIBURTON CALLS IN SITRICK
Halliburton has hired
Sitrick & Co. for corporate PR and investor relations
work, Michael Sitrick, CEO of the Los Angeles-based firm,
told this NL.
Sitrick, who heads the
account, said he reports to Cedric Burgher, VP-IR at the
energy services giant. He stressed that his firm is not
providing crisis PR counsel to the client.
Halliburton, which was
headed by Vice President Dick Cheney, faces a slew of corporate
difficulties including a Securities and Exchange Commission
probe, shareholder suits and $602 million in asbestos liability.
Halliburton, which has announced a corpo rate reorganization,
posted a $476M first-half net loss on a 3.7 percent dip
in revenues to $6.2 billion. Its stock trades in the $14
range. The shares have traded in a $29.61 to $8.60 range
during the past year.
BYRUM OF PRSA IN OWN FIRM
Reed Byrum, incoming president
of PR Society of America, has set up his own PR firm after
leaving Trilogy, computer software company based in Austin,
Texas. He continues to consult for Trilogy, which was founded
12 years ago and provides software for clients including
Ford, Lucent, IBM, Sun and Hewlett-Packard. The company
has 425 employees and is privately held.
Byrum said he also has
other high-tech clients and is doing work for several community
groups including counseling his parish during a transition
to a new rector, helping the ballet company in Austin, and
doing work among the homeless. He feels his new independent
status will give him more freedom to make speeches and travel
in behalf of PRSA.
Joann Killeen, current
PRSA president, is a sole practitioner as were recent presidents
Sam Waltz (1999) and Luis Morales (1996). The late Stephen
Pisinski, 2000 president, had a small PR firm.
Cook, a 17-year veteran of Golin/Harris International,
has been upped to president. He had served as chief client
officer at the Interpublic unit.
Previously Cook was regional
managing director for the firm's Western region and managing
director of its Los Angeles office.
Dave Gilbert left the
G/HI presidency post last year to reestablish his own firm,
David R. Gilbert & Assocs. CEO Rich Jernstedt took over
oversight of the firm's Chicago, New York, Washington, D.C.,
and European offices following Gilbert's exit.
EDELMAN HANDLES PFIZER IMAGE
Pfizer, the world's biggest
drug company, is considering a multimillion-dollar advertising
and grassroots PR campaign to improve the image of the battered
pharmaceutical industry. Edelman PR Worldwide is to coordinate
that effort. Edelman executives refused to comment on the
Former White House spokesperson
Joe Lockhart and his Glover Park Group along with grassroots
specialist Bonner and Assocs. are expected to be part of
the Pfizer team. Pfizer is said to be talking with other
drug companies and the industry trade group, the Pharmaceutical
Research and Manufacturers of America, to help bankroll
Pfizer, which announced
a $60 billion acquisition of Pharmacia in July, has been
keenly focused about the perception held by consumers that
they are getting ripped off by pharmaceutical companies.
In early September, Pfizer launched "Connection to
Care," a program that provides free medicines to up
to 22 million uninsured patients suffering from diabetes,
hypertension and depression. Single persons who make less
than $16,000 a-year, and families with annual income of
$25,000 or less are eligible.
Departs Health Group
Joan Spivak has left Edelman
after 15 years to serve as president of Prime Medica, a
U.K.-based medical communications firm. She will head the
firm's U.S. operations from New York.
Most recently, Spivak
was executive VP and GM of Edelman's health practice. She
also had headed the firm's life sciences division for the
SHELDON, EX-H&K/NY HEAD,
Phil Sheldon, who left in June after a three-year stint
as head of Hill and Knowlton/New York, has joined Lippe
Taylor Marketing PR. He also headed Porter Novelli's healthcare
unit, and was PR director at Pharmacia, the former Upjohn
Co. that has agreed to be acquired by Pfizer in a deal worth
$60 billion. At PN, Sheldon counseled Pfizer, Novartis,
Maureen Lippe, CEO at LTMPR, has made expansion of the
firm's healthcare practice a key priority at the one-time
beauty and fashion PR boutique.
Sheldon joins LTMPR as managing director. He replaces Bill
Daddi, the Dilenschneider Group and Cotton Inc. PR veteran,
who joined Magnet Comms. in July as SVP in its national
Edition, September 18, 2002, Page 2
STANLEY SHELLS OUT FOR TAX
The Stanley Works paid
lobbyist Williams & Jensen a whopping $220K in fees
during the first-half of this year to deal with issues that
arose with the Corporate Patriot Enforcement Act of 2002.
SW's controversial plan
to reincorporate in Bermuda to escape $40 million in U.S.
taxes spurred widespread outrage that ultimately resulted
in legislative support for the Act, which is designed to
prevent corporate tax dodgers.
John Trani, CEO of the
New Britain, Conn.-based toolmaker, dropped plans to shift
its corporate headquarters to Bermuda on Aug. 1 even though
he said SW's "ability to compete is being undermined
by the U.S. tax code." He noted that U.S. competitors
Cooper Industries and Ingersoll-Rand Co. have already reincorporated
The company called in
Weber Shandwick to help deal with media requests about Bermuda.
SW outlays at W&J compare with the $100K that W&J
received from Coca-Cola; $60K from Norfolk Southern, and
$40K each from J.P. Morgan & Chase and Novartis during
the first six months.
DELL HALTS SEARCH
Tom Green, Dell Computer's senior VP of law and administration,
and secretary of Dell, issued the following statement regarding
the company contacting PR executive search firms. Elizabeth
Allen, VP-corporate communications at the $32 billion company,
reports to Green.
"At Dell, we periodically explore the outside market
for strong senior talent that could potentially strengthen
and enhance our internal capabilities. We recently initiated
this process for a global marketing and communications leader.
"After completing an exhaustive review, we are convinced
that our Vice President of Corporate Communications, Elizabeth
Allen, provides Dell with the most effective and strategic
communications leadership for the company.
"We know that to achieve our ambitious goals for the
future, we need the experience, customer-focused leadership
and passion that Elizabeth has brought to our senior team.
Therefore, we have ended our external search," said
ACCENTURE HIRES TLG FOR TAX
Accenture, the Hamilton, Bermuda-based consult ing giant,
has hired The Livingston Group as lobbyist for federal tax
and government contracting matters.
Former House Appropriations Committee chairman Bob Livingston
heads that firm. He resigned the Speaker of the House-elect
post when news of his extramarital affair received major
play during the Clinton impeachment proceedings.
Accenture has retained Jones Walker Waechter Poitevent
Carrere & Denegre for good measure. Paul Cambon, who
was Livingston's legislative director, is director of government
affairs at that firm.
The consulting giant issued a statement in April denying
that its Bermuda corporate headquarters was mainly a way
to dodge U.S. taxes. That statement followed the public
outcry over The Stanley Works plan to move its headquarters
to the Bahamas to avoid $40 million in federal tax, a plan
that led to the introduction of the Corporate Patriot Enforcement
That statement noted that Accenture did not " reincorporate
from the United States to Bermuda." Accenture, it said,
has never been a U.S.-based or -operated organization and
has never operated under a U.S. parent corporation.
In 2001, Accenture's 2,500 partners, more than half of
whom were non-U.S. citizens, decided to reorganize as a
corporation and go public. Bermuda was chosen as a headquarters
because it is a "neutral location," according
Accenture's revenues from its U.S. federal government business
tallied $334 million for its fiscal year ended Aug. 31,
B-M ON SIDELINES IN BOTOX
Burson-Marsteller, which generated the media buzz for Botox,
is sitting on the sidelines regarding the tussle between
client Allergan, maker of the wrinkle-remover, and the Food
and Drug Administration regarding Allergan's advertising.
The FDA claims Allergan is running misleading Botox ads,
and wants them pulled. (Grey Global Group was awarded the
$50 million ad campaign in April.) The agency contends the
ads do not specify the particular wrinkles that Botox has
been approved to treat.
Allergan has refused the FDA's request, but says it looks
forward to entering into "meaningful discussion"
with the Feds, said David Pyott, Allergan's CEO on Sept.
12. Pyott, however, has complained about media accounts
that give the impression that Allergan wants to 'take on
the FDA.' The FDA, he noted, has every right to express
its concern about promotional issues, just as Allergan has
the right to respond.
Ame Wadler, chair of B-M's healthcare practice, told this
NL that the WPP Group unit has nothing to do with the ad
flap. She helped spearhead the wave of publicity for Botox,
which culminated in a New York Times front page report
earlier this year.
Wadler said Allergan's in-house PR staff is well-equipped
to deal with media inquiries regarding the ad issue. Christine
Cassiano and Suki Shattuck are the key media contacts at
PUBLICIS NET INCHES AHEAD
Publicis Groupe recorded a two percent rise in first-half
net profit to 55 million euros ($53.6 million) on a 2.4
percent rise in revenues to 1.2 billion euros. Organic revenues
slipped 3.6 percent.
CEO Maurice Levy said the firm's growth was "not easy"
due to the global economic downturn. The outlook for the
advertising market is "difficult to assess," he
Edition, September 18, 2002, Page 3
TO TRY A BOOK CLUB
, a magazine for black women, is starting its own book club.
It will be run by Patrik Henry Bass, who is book editor
for the New York-based magazine, which has a circulation
of 1.1 million and claims a readership of seven million.
selections will be books about African-American experiences,
and selections will be displayed in the magazine quarterly.
books to be recommended, in the October issue, will be four
black classics chosen by Bass and his colleagues. Readers
will then have 30 days to vote-via e-mail or even postcard-on
which of the four they want to discuss in the magazine's
online chat room at www.essence.com.
readers will be asked to submit nominations for the club's
selections, which will then be determined by a combination
of members' submissions and a group of the magazine's editors.
will conduct a website chat for members with the author
if living, or a guest author if the writer is dead.
Winfrey gave up her book club in April, other book clubs
have been started by USA Today, the "Today"
show on NBC, ABC's "Good Morning America," and
"Live With Regis and Kelly."
SVP/executive director of publicity, promotion, and media
relations for book publisher Alfred A. Knopf, said the new
media-sponsored book clubs are driving "explosive sales"
in the retail marketplace (7/17 NL).
and LMNO Prods. have signed an agreement that allows the
Los Angeles-based reality TV producer to develop a TV series
based on the MH brand.
in development for the partnership include such non-scripted
concepts as "Let's Dare John," an adventure/science
program; "Second Chances," a reality-based program
that helps men correct a regret or mistake, and a cooking
show based on MH's best-selling book.
show based directly on the content of MH is also in development,
according to The Hollywood Reporter.
Entertainment's sister TV network, Style, is starting
two new series this month-"Style Star" and "Fashiontrance."
focuses on celebrities who are setting new fashion trends.
The show will debut on Sept. 22 at 10 p.m., and will continue
to air on Sundays at 9 p.m.
which will be an hour-long show featuring coverage of major
fashion shows, premiers Sept. 20 at 10 p.m.
Los Angeles, Style has 24 million subscribers.
a three-year-old magazine about cancer prevention
and treatment, uses only celebrities on its covers.
Gould, who is editor of the bimonthly, which is headquartered
in Melville, N.Y., told Newsday the celebrities generally
have either been diagnosed with cancer (such as current
cover subject Geraldine Ferraro, who is fighting multiple
myeloma) or are advocates because of special interests,
relative or friends (such as upcoming cover subject S. Epatha
Merkerson of "Law and Order," who had friends
die of lung cancer).
Gould, who is the magazine's only full-time staffer, likes
to add practical tips, such as how to deal with red tape
and what to say to a cancer patient who's just been diagnosed-a
topic that got Gould on the "Today" show last
is part of PRR Inc., which John Gentile founded 25 years
ago to publish scientific and professional journals and
books in the oncology field. It goes to 50,000 doctors'
waiting rooms, hospitals, bookstores and a few subscribers.
issues are available at www.intouchlive.com.
Chicago Tribune started
publishing a new section in its Sunday edition this
week, called "Q."
which is described in a press release as "quotable,
quirky and a quick read," will offer information on
a lot of different topics, with shorter items covering people,
fashion, entertainment, health and fitness, ethics, ideas
the Sunday "Health & Family" section.
a features editor, is overseeing the new section.
previously an editor with Amazon. com, will join Seattle
Weeklyon Sept. 30 as senior arts writer, focusing on
local and national arts and culture. Culture editor Mark
Fefer will continue to oversee the paper's arts coverage.
27, who was covering retail news for TheStreet.com,
will join The New York Post as a media beat reporter,
replacing Dan Cox, who left the paper.
who published Media Relations World Letter, a newsletter
about professionals in media, journalism and PR, is in a
geriatric institution following a heart attack Jan. 1.
36, who is fashion and beauty editor of The New York
Daily News, and Nelson
Thayer Jr., 38, an assistant U.S. attorney in Newark,
N.J., were married in June.
news continued on next page)
Edition, September 18, 2002, Page 4
McCORRY PUT IN
CHARGE OF REPORTERS
John McCorry was named by Bloomberg News to oversee all
of the news organizations' 1,200 print journalists worldwide.
McCorry, a former business reporter for The New York
Times , had been Bloomberg's Princeton, N.J., bureau
chief. He was president of the New York Financial Writers'
Assn. from 1994-95.
Ken Kohn, former chief of Bloomberg's European print news
operation, was named head of worldwide broadcasting operations,
which includes Bloomberg TV, a financial cable news network,
and WBBR-AM, a New York-based news radio station.
Kohn, who started out at Bloomberg as a corporate bonds
reporter, has spent his entire career in print journalism.
McCorry and Marty Schenker, who runs Bloomberg's domestic
radio and TV operations, will report to Kohn. Schenker had
been reporting to Matt Winkler, editor-in-chief.
NIEVES JOINS THE WASHINGTON
Evelyn Nieves, who has been San Francisco bureau chief
for The New York Times, is joining The Washington
Post as a national political correspondent.
She will remain in San Francisco for another year before
relocating to Washington, D.C.
Dean Murphy is replacing Nieves, whose departure is the
fifth by a bureau chief or correspondent at the Times
since the start of 2002.
Earlier, Atlanta bureau chief Kevin Sack took a job with
The Los Angeles Times , which permitted him to stay
in Atlanta, and Jim Sterngold, former Los Angeles correspondent,
joined The San Francisco Chronicle.
In Seattle, bureau chief Sam Howe Verhovek went to the
L.A. Times, and former Boston bureau chief Carey Goldberg
joined The Boston Globe.
OPC ELECTS NEW OFFICERS
Alexis Gelber, Newsweek's director of special projects,
was elected to succeed Larry Martz as Overseas Press Club
president for the next two years.
Other officers elected were: First VP-Marshall Loeb, senior
correspondent of CBSmarketwatch.com;
Second VP-Richard Stolley, senior editorial advisor of Time
Inc.; Third VP-Robert Dowling, managing editor of Business
Week International; Treasurer- Jacqueline Albert-Simon,
U.S. bureau chief and associate editor of Politique Internationale,
and Secretary-Michael Serrill, senior editor/international,
New associate board members elected were: Bill Collins,
PA dir., Ford Motor; Yvonne Dunleavy, author/journalist;
Minky Worden, electronic media director of Human Rights
Watch, and Peter Cullum, VP, Donley Comms., who is an associate
HAJARI NAMED M.E. OF NEWSWEEK
Nasid Hajari was named managing editor of Newsweek International.He
was previously Asia editor for the overseas editions since
his arrival at the magazine in Feb. 2001.
Hajari, who is based in New York, will oversee the content
and direction of Newsweek's overseas issues. Newsweek has
three distinct English-language international editions:
Atlantic (distributed throughout Europe, the Middle East
and Africa), Asia and Latin America.
Hajari replaces Steven Strasser, who retired after 25 years
William Dobson has joined the overseas staff as Asia editor.
He had been an associate editor at Foreign Affairs.
WILLEN IS EDITOR OF THE FEDERAL
Mark Willen, a 33-year veteran of Washington journalism,
who previously ran Bloomberg News' political unit, is editor
of The Federal Paper a new weekly paper making its
debut on Sept. 23.
Dan Leeds, a former principal at CMP Media before it was
acquired by United Media, is starting the weekly paper,
which will target White House officials, political appointees,
upper-level GS-grade decision-makers, members of Congress,
top state and local elected officials and private-sector
Willen also spent a decade at Congressional Quarterly
where he was editor of Congressional Monitor
and managing editor of CQ Weekly.
Stacy Mason, who spent 10 years at Roll Call, where
she held various positions including editor-in-chief, executive
editor and managing editor, is associate publisher, and
Chris Hertz, formerly the CEO of Evolving Data Corp., is
Nina Easton, formerly a writer for 10 years at The Los
Angeles Timesand author of "Gang of Five: Leaders
at the Center of the Conservative Ascendancy," is deputy
Other members of the editorial staff include senior staff
writers David Morris, and Stephen Norton. Morris most recently
was White House bureau chief for Bloomberg News, and Norton
is a former reporter with National Journal's CongressDaily
Kerry Kantin, previously a reporter for The Hill,
is a staff writer, along with Taylor Lincoln and Derrick
Wetherell. Ron Elving, currently the senior Washington editor
for National Public Radio news, is a political columnist.
The paper's offices are located at 1150 18th st., N.W.,
#475, Washington, DC 20036.
Dallas, will offer free airtime to qualified political candidates
and expand its coverage of the 2002 election on a national
and local level.
Additional information is available on Belo's website (www.belo.com)
and from Scott Baradell, VP/corporate communications (214/977-2067).
Edition, September 18, 2002, Page 7
PRSA & NIRI
HEADS ASK IR REFORM
incoming elected president of PR Society of America, and
Louis Thompson, paid president of the National IR Institute,
both called for reform of IR last week.
the American Electronics Assn., called on CEOs to break
their silence and become "vocal leaders" of the
are deafened by the silence of the majority of corporate
leaders," he said. Byrum also said CEOs should end
"pro forma" and other misleading financial reports.
The AEA is the largest high-tech industry association.
speaking to NIRI/Chicago, said, "The problem of restoring
investor confidence has moved far beyond accounting and
regulatory reform to one that is a major PR problem."
on NIRI members to assume an even greater role in their
before...have the opportunities to expand our role been
greater," he said.
called for a greater role for IR people, Byrum called for
PR people to become more involved in IR.
Byrum had previously said in an op-ed piece to the Austin
Business Journal that CEOs should use "professional
communicators" who will "bring clarity to financial
complexities...CEOs must start telling their company's story
to more than just Wall Street analysts."
Banned from Analyst Calls
are almost never allowed to ask questions at analyst teleconferences.
The conferences, con ducted via phone, do not allow the
analysts to see the reactions of the CEOs and CFOs to their
usually the IR person, decides who is allowed to ask questions.
Analysts complain that supportive analysts and those from
major brokerages have an edge on other questioners. Almost
all NIRI members have Wall Street rather than press backgrounds.
that there are only "a few rotten apples, corporate
criminals who deserve to be memorialized for future generations
as symbols of institutional avarice and hubris."
But the silence
of "well-performing CEOs in every activity other than
telecommunications have through their omissions allowed
these rotten apples to dominate perception," he added.
He also noted
that a survey by FD Morgen-Walke found that 54% of professional
investors say the current round of scandals represents "a
broader crisis of confidence" than just a few "bad
apples." Also, he said, "54% of the public do
not believe corporate financial results are credible."
noted the Enron scandal was followed by "accounting
scandals at Global Crossing, Tyco Int'l, ImClone and Adelphia
The 100 million
U.S. investors lost $7.9 trillion since March 2000 because
of the stock market slide and pulled a record $52.6 billion
from their mutual funds in July alone, he added.
is the time for companies to be aggressively telling the
investment community what they're doing to restore confidence,"
he said. At another point he said NIRI must help restore
"investor and public confidence in corporate America."
LERACH RIDES AGAIN, SAYS
Securities lawyer Bill Lerach, surviving the 1995 "Safe
Harbor" bill that was meant to cripple his business,
is back at the top of his game, according to the Sept. 9
His firm, Milberg Weiss Bershad Hynes & Lerach, which
recently sued Omnicom and Interpublic, files an estimated
half of all the shareholder class action suits nationwide
and 80% of those in California, where the firm is based.
The Private Securities Litigation Reform Act, passed at
the end of 1995, was in reality an act meant to cripple
Lerach, sources told New Yorker writer Jeffrey Toobin
(author of A Vast Conspiracy).
Major backers of the law included the then "Big Six"
accounting firms (now the "Final Four"), the National
IR Institute, Public Securities Assn., Nat'l Venture Capital
Assn. and numerous dot-com companies that were often the
object of stockholder suits.
They said a few specialist law firms like Milberg Weiss
were acting like "ambulance chasers" who practiced
The Securities Act made it harder for lawyers to involve
accounting firms in the lawsuits.
The bill also increased the likelihood that plaintiffs
would pay defendants' legal costs if a suit fails. NIRI
lobbied strenuously for passage of the bill. Literature
was distributed via Powell Tate, which represented the Big
Corporate-oriented NIRI has 14 corporate members on its
current board of 16 (plus CEO Lou Thompson). Mary Dunbar
of Dix & Eaton is the one counselor member from a major
PR firm. Counselor Donald Allen spent most of his career
in corporate jobs. Counselor Vickie Gorton has joined Carreker
Corp., Dallas software firm, as director of IR.
Thompson said that the Act was not designed to eliminate
legitimate lawsuits and that a number of them were filed
in the wake of the Act. It was meant to stop "frivolous"
lawsuits that followed whenever a stock took a dip, he told
Conference Statements Used
Milberg Weiss cited statements made by Omnicom CFO John
Wren and CFO Randall Weisenburger at a conference call June
12 in launching a suit June 17.
Statements made Aug. 13 by IPG CEO John Dooner and CFO
Sean Orr are cited in a suit launched Aug. 15 by the law
Among other charges, Dooner, Orr and 15 other IPG executives
are accused of selling $100 million worth of IPG stock at
prices inflated by erroneous earnings reports.
Edition, September 18, 2002, Page 8
Reed Byrum of PRSA and Lou
Thompson of NIRI have called for corporate reform in financial
reporting (page 7).
It certainly is a mess
with the profusion of outright false financial reports plus
the pestilence of "pro forma" and numerous other
types of misleading reports such as "headline"
earnings, "net debt," EBITDA (earnings before
taxes, etc.), and so on.
The Enron scandal alone
cost investors about $93 billion, which is nearly equal
to the amount President Bush had in his economic stimulus
package for the entire country.
IR, as presently practiced, blocks press access to CEOs
and CFOs. It even blocks analysts who show the slightest
hostility to the companies they cover.
One reason for the profusion
of corporate scandals now is that the press has not been
allowed to do its job of overseeing corporate behavior in
Not only have the CEOs
used their IR and PR people as shields, they have used their
CFOs to put out increasingly snarled and opaque financial
statements that hide key dealings. The reports are beyond
the expertise of all general and even most financial reporters.
Mountainous SEC filings loaded with doubletalk are the rule.
Reporters who go to the
SEC databank (EDGAR) are confronted with hundreds of filings
identified only by long series of letters and numbers. There
is usually no one at the company to help them decipher this
they're sincere in their efforts to bring about reform,
Byrum and Thompson have to call for the opening of analyst
conference calls to the press and for such exercises to
The slavish analysts are
at a huge disadvantage in these calls which former NIRI
chairman Tim Cost once called "Kubuki theater"
(i.e., a rigid, predictable ritual). The analysts can't
see the reactions of the CEOs and CFOs, don't follow up
on unanswered questions, and get cut off if they ask an
impertinent or probing question. They're quickly told to
call after the conference.
Some of these companies
(e.g., Omnicom, Interpublic) are in the New York area where
the bulk of analysts and press are located. The CEOs of
other companies could easily fly to New York if they wished
Companies have given short
shrift to the press for too long with disastrous results
for the U.S.
PRSA and NIRI have set a poor example for press relations.
PRSA, for the past 20 years or so, has had only one person
on PR, usually a junior or mid-level pro. For a year and
more at a time, there has been no one on PR at the Society.
The current staff at PRSA numbers 47 (one on PR). PRSA,
meanwhile, has a $10 million budget.
NIRI, with $4.6 million
in its treasury last Dec. 31, is worse. It has never had
an on-staff PR person in its 32 years. Thompson is often
on the road and says he is jammed with numerous tasks in
the rare instances he can be reached. Companies similarly
escape press relations by the simple expedient of having
little if any staff to handle press calls.
PRSA and NIRI, before
they can start lecturing CEOs to be more communicative,
must build up their own PR staffs.
IR people, almost all
of them with Wall Street or financial backgrounds and few,
if any, from the press, are culprits here. They have acted
very territorial, barring PR people from anything financial.
We don't see IR people holding classes in financial reporting
for their PR departments. NIRI, despite its huge treasury,
makes no move in this direction either for PR people or
the general or financial press. NIRI appears to have one
thing on its mind-NIRI. Its new, enlarged code, lacks the
This makes NIRI a non-professional
group since, by definition, a profession is concerned with
the welfare of the general public and not any one segment
of it (such as investors).
Huey, Atlanta PR pro, says it's about time that CFOs
retired "EBITDA" (earnings before interest, taxes,
depreciation and amortization). It is the equivalent of
a wage-earner reporting income before payroll deductions.
Huey, formerly with BellSouth and who now heads Strategic
Communications, said the letters might better stand for
"Earnings Before Information Technology Disasters Appeared."
He proposes a new phrase-EBAT-standing for "Earnings
Before Accounting Tricks." It could be teamed with
EAAT ("Earnings After Accounting Tricks") so that
companies could report earnings both ways, he said...a
consultant who was helping a client pick a PR firm said
he sat in on the presentations and that one firm
used the words "brand" and "branding"
at least 50 times within a half-hour. The client told him
during a break that he needed either earplugs or a scotch
before he could listen to more. The consultant said the
account was won by a "meat and potatoes" firm
that focused on the "ink" that it could win...moviegoers
in New York are greeted with five commercials before
the start of the feature. One of the commercials at a theater
on 32nd st. and Second ave. was by New York University Medical
in which it offers $7,000 for a woman who will donate one
of her eggs. This sounds like a quick way to make a lot
of money but medical sources said this is a very arduous
and possibly dangerous procedure.