Bankers Trust Co., New York, will introduce a new corporate image campaign this fall, nearly a year after negative publicity surrounded derivatives transactions the company was involved in. Print ads from Merkley Newman Harty, New York, will emphasize "client-firm relations"; $3 million to $4 million has been budgeted for the campaign. Bank clients including Procter & Gamble Co. filed lawsuits against Bankers Trust in 1994, claiming its information concerning derivatives swaps was inaccurate and not fully disclosed.
Yee sale is set
After months of delay, K-III Communications said it has finalized a deal for automotive specialty magazine publisher McMullen & Yee. The Placentia, Calif.-based company publishes Truckin', Street Rodder and about a dozen other titles on trucks, motorcycles and watercraft. The company was put on the block following the death of company co-owner Kenneth Yee in March 1994. Terms of the deal were not disclosed but industry executives estimated the purchase price at $50 million.
A new chewing gum launched by Leaf Iberica in Spain is proving controversial because its wrapping incorporates a picture of a model in a bikini. When licked, the top part of the bikini disappears. Parents, school and consumer lobbying groups are calling for its withdrawal. Leaf, owned by Finnish company Huhtamaki, says it has no intention of taking the product off the market. The National Consumers Institute in Madrid says it cannot order Leaf to stop selling the gum. However, it has agreed to conduct tests to establish whether the labeling contains any toxic substances.
Cadbury Schweppes, London, Tuesday said shareholders of Dr Pepper/Seven-Up Cos. approved the purchase of the Dallas-based soft drink marketer by Cadbury Schweppes. The necessary two-thirds affirmative vote was certified by the company's transfer agent during the annual shareholders meeting at Dr Pepper/Seven-Up headquarters Monday.
Celestial Seasonings, Boulder, Colo., is introducing two iced tea lines to select markets. Brews In Your Fridge, iced black teas, will be available in three flavors: Classic, Sunny Lemon and Raspberry Kiwi. Three regular iced tea mix flavors will also be in stores soon: Impeccably Peach, Sunny Lemon and Strawberry Kiwi. Both product lines will hit full national distribution in 1996. No advertising is planned this year.
Copyright June 1995 Crain Communications Inc.