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Odessa American in Odessa, Texas

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Newspaper

Odessa American

Location

Odessa, Texas, United States of America

Date

Jan 16, 1981

Page

6

Reagan eyes cutting ads as US government spends big

The United States spent over 150 million dollars on advertising in 1979 and millions more on market research and production keeping it among the top advertisers. Agencies warn cuts could hinder public communication while defense and other departments defend heavy ad use for recruiting and public outreach. Advertising for Amtrak, Treasury, Energy, Public Broadcasting, Peace Corps, and USPS is cited along with per recruit costs of 410 dollars for the Army and 339 for Marines. Public service campaigns and the Advertising Council are noted for free or underwritten messaging.

United States Procter & Gam Ble Pillsbury Gillette Co Reagan General Electric Co Defense Department Amtrak Treasury Susan B. Anthony Energy Department Corporation For Public Broadcasting Peace Corps Postal Service Army Pentagon al Martin The Advertising Council United Auto Workers Union Ronald Reagan US News & World Report Chrysler Loan Board Lee Jacoces Lacocca Lacocea Mitsubishi Dodge Plymouth Washington Yoshitoshi Sone Mitsubisha

Banks Agree to Help Chrysler in Finance Rescue

The 125 banks owed money by Chrysler Corp agree to two major concessions to avoid bankruptcy. They will return 30 cents on the dollar on $500 million in loans and convert $568 million into preferred stock, relinquishing claims on assets in exchange for potentially nonredeemable certificates. The plan, to be reviewed by the Chrysler Loan Guarantee Board, signals a collaborative effort with government involvement and aims to avert a disorderly Chapter 11 process.

Detroit Chrysler Corp Automaker Chrysler Loan Guarantee Board Chrysler Pension Benefit Guarantee Corp Oan U.S

Also Mentioned on This Page

Advertising Age J. Walter Thompson Co Marine Corps Ted Bates Navy Wolfe Naan Cong Berta Serec Sap Stuart al RT Be Andrews Charlie CTU Koza Odessa Winwood Shopping Center Corduroy Blazers Permian Mall MasterCard Visa Midland Park Mail
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