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philip morris which became the u.s. 's largest food company last year with its $ N billion acquisition of kraft inc. seems determined to <unk> beyond its roots in <unk> country |
the company 's research suggests that its name recognition among most consumers remains unusually low although its array of brands including maxwell house coffee <unk> <unk> <unk> and miller beer blanket supermarket shelves |
the company is expected to spend about $ N million a year on its two-year corporate campaign created by wpp group 's ogilvy & mather unit in new york |
the initial spots will appear during morning and prime-time news shows |
philip morris hopes that by taking its bill of rights theme to the <unk> in addition to publications it will reach the <unk> possible audience |
until now its corporate ads mainly promoting its <unk> of the arts have appeared almost exclusively in newspapers and magazines |
most people whether in toledo tucson or <unk> have n't got a clue who we are says guy l. smith philip morris 's vice president of corporate affairs |
if they think well of the company through our support of the bill of rights it follows they 'll think well of our products |
mr. smith says the bill of rights commercial which <unk> the themes of liberty and freedom of expression is n't designed to have any special appeal for smokers |
although philip morris typically tries to defend the rights of smokers with <unk> arguments this has nothing to do with cigarettes nor will it ever the spokesman says |
but some <unk> activists disagree <unk> anger at what they see as the company 's attempt to purchase <unk> by association |
i 'm <unk> because this company is portraying itself at the heart of american culture and political freedom and in fact it 's a killer says michael <unk> former chairman of the federal trade commission and a <unk> critic |
it should be treated like the <unk> drug mafia not the founding <unk> |
mr. <unk> adds that the new commercial <unk> perfectly with major aspects of philip morris 's political strategy |
these include trying to protect its print advertising by <unk> the first amendment and wooing blacks by portraying itself as a <unk> of civil rights |
the commercial features among others the voice of martin <unk> king jr. the <unk> civil rights leader |
many marketers say philip morris 's approach will be effective but they agree that the ads ' implied smoking message is <unk> |
this is <unk> <unk> advertising that really says smokers have rights too says al <unk> chairman of <unk> & <unk> inc. a greenwich conn. marketing strategy firm |
this is designed to get the <unk> in a circle and defend the smoking franchise |
richard <unk> a partner at boston consulting group adds it 's very popular to <unk> yourself in the flag these days |
if you can do that and at the same time send a message that supports your business that 's brilliant |
rjr nabisco inc. and american brands inc. say they have no plans to follow philip morris 's lead |
indeed rjr nabisco is currently under fire for having sent <unk> <unk> touting its now brand to consumers who smoke american brands ' <unk> |
despite the criticism philip morris 's corporate campaign runs little risk of getting <unk> off the tube |
they are n't showing james madison taking a <unk> or lighting up says laurence tribe a professor of constitutional law at harvard university |
all they are trying to do is borrow some of the legitimacy of the bill of rights itself |
technology stocks <unk> up helping the over-the-counter market rise from its recent doldrums |
the nasdaq composite index surged N or about N N to N |
it was the market 's biggest gain since rising more than N points on oct. N |
advancing otc stocks <unk> decliners by N to N |
but the move lagged a stronger rise in new york stock exchange issues |
the big board 's composite index was up more than N N and the dow jones industrial average jumped N N |
nasdaq 's gain was led by its biggest industrial stocks |
the nasdaq N rose N to N |
the financial index of N biggest banks and insurance issues added N to N |
other strong sectors were indicated in gains of the transportation index up N to N and the utility index up N to N |
national market system volume improved to N shares from N million monday |
many of nasdaq 's biggest technology stocks were in the <unk> of the rally |
microsoft added N N to N N and <unk> systems rose N N to N N |
intel was up N N to N N |
but traders who watch the stocks warned the rise may be yet another one-day phenomenon |
technology stocks <unk> the brunt of the otc market 's recent sell-off and traders say it 's natural that they rebound sharply now that the market has turned around |
but they caution conservative investors would do well to sell into the strength |
they are always the first to be sold when people are taking profits because people are most scared of the high-technology stocks said robin west director of research for <unk> <unk> 's <unk> division which specializes in emerging growth stocks |
the technology group includes many of the otc market 's biggest stocks which dominate the <unk> nasdaq composite index |
analysts say rallies in the group historically have lifted the market while weakness in the sector often sank <unk> share prices broadly |
but increasing volatility in the sector has exhausted investors who try to follow its <unk> and swings |
the stocks have been <unk> repeatedly by inventory <unk> and disappointing earnings as the industry <unk> and <unk> |
some even claim the group has become a lagging not leading indicator |
the technology sector of the dow jones equity market index has risen only about N N this year while the nasdaq composite index has gained N N |
while the composite index lost less than a third of its <unk> gains in the market 's recent decline the technology group 's gains were more than <unk> |
the otc technology sector is far from a <unk> unit |
the group is divided primarily between software semiconductors and computers |
while computer stocks have taken the biggest hit from the slowdown in the industry many software and semiconductor stocks have continued to outperform the market |
microsoft is up more than N N this year while intel is up more than N N |
the technology group is also split between large companies and small with the biggest stocks trading as blue-chip issues in the institutional marketplace while the smaller stocks <unk> on their individual merits or <unk> analysts say |
the volatility of smaller technology companies has served the group well overall in recent stock trading according to hambrecht & quist 's technology stock indexes |
the brokerage firm tracks technology stocks with its technology index which <unk> only N N in the first nine months of this year |
but the firm also tracks smaller technology companies as a <unk> of the larger group |
that index which contains technology companies with annual revenues of $ N million or less gained N N by sept. N this year still lagging the s&p N but leading larger technology firms |
yesterday bank stocks lagged behind the overall otc market |
the nasdaq bank index rose N to N |
george <unk> who trades bank stocks for shearson lehman hutton said the stocks tend to fall behind because they are n't traded as much as many other issues |
but he added <unk> stocks in general are stalled |
the interest-rate <unk> are n't <unk> with the rest of the market because of fears about what the federal reserve will do mr. <unk> said |
he said that investors will <unk> the october employment report due out friday for clues about the direction of the economy and the immediate outlook for interest rates |
on the other hand mr. <unk> noted that the recent slide in bank and thrift stocks was at least halted yesterday |
shearson lehman hutton gave small investors some welcome news by announcing that it would no longer handle <unk> program trades for its accounts |
shearson with its in-house order execution system has handled the bulk of such program trades in the over-the-counter market |
the trading has been blamed for much of the market 's recent volatility |
jaguar topped the <unk> list as its american depository receipts climbed N N to N N with more than N million adrs traded |
britain said it would waive its golden share in the luxury auto maker if shareholders vote to allow a suitor to acquire more than N N of the company |
the announcement effectively <unk> the british government as an <unk> to a takeover of the company which is being <unk> by general motors and ford |
gen-probe was another active takeover stock |
it surged N N to N on volume of more than N million shares after the company agreed to be acquired by japan 's chugai pharmaceutical for about $ N million almost double the market price of gen-probe 's stock |
<unk> corp. lost N to N after filing for protection from its creditors under chapter N of the federal bankruptcy code |
mci communications added N N to N N |
the company has <unk> up over $ N million in contracts in the past two days |
monday mci announced a $ N million <unk> contract with the investment bank <unk> |
yesterday it received a $ N million three-year contract from drexel burnham lambert |
florida national banks of fla. slid N N to N N |
late monday the federal reserve board said it is delaying approval of first union corp. 's proposed $ N million acquisition of florida national banks pending the outcome of an examination into first union 's lending practices in low-income <unk> |
florida national said yesterday that it remains committed to the merger |
<unk> industries gained N to N N after it said it agreed to buy <unk> & associates and two affiliates for cash and stock |
the value of the transaction was n't disclosed |
the companies being acquired provide telecommunications services to the telephone industry |
<unk> industries whose stock has suffered steep losses in recent sessions surged N N to N |
the stock was one of many in the paper products industry that rose following georgia-pacific 's $ N billion bid for great northern nekoosa |
a permanent smoking ban on virtually all domestic airline routes won approval from the house which separately sent to president bush a nearly $ N billion fiscal N bill including the first construction funds for the space station |
the smoking prohibition remains attached to a $ N billion transportation bill that must still overcome budget obstacles in congress |
but yesterday 's action put to rest any <unk> resistance from tobacco interests |
faced with inevitable defeat the once dominant industry declined any recorded vote on the ban which covers all but a fraction of N N of daily flights in the u.s. |
the sole exceptions are an estimated N flights of six hours or more beginning or ending in hawaii and alaska |
assuming final enactment this month the prohibition will take effect N days later or in early february |
on a N roll call the house adopted the underlying transportation measure |
but the bill still faces budget questions because it also is the vehicle for an estimated $ N billion in supplemental appropriations for law enforcement and anti-drug programs |
the additional spending <unk> the measure more than $ N billion above its prescribed budget ceiling and the house appropriations committee leadership must now seek a waiver in hopes of completing action today |
the separate $ N billion bill sent to the white house had budget difficulties too but was saved ultimately by its importance to a broad spectrum of interests in congress and the administration itself |
no single bill this year includes more discretionary spending for domestic programs and apart from the space station the measure <unk> far-reaching provisions affecting the federal mortgage market |
the current ceiling on home loans insured by the federal housing administration is increased to $ N during fiscal N |
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