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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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time
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122589
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12258900.004
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1990-09-22
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BUSINESS, Page 69Business NotesADVERTISINGCelluloid Vs. Vinyl
Paul Newman, superstar, race-car driver and purveyor of his
own name-brand salad dressing, has long avoided the big-time
endorsement deals that many of his Hollywood peers covet. Too
commercial, he was thought to feel. But last week word circulated
that the star of Cool Hand Luke and Blaze had agreed to do a TV
spot for American Express for a reported $2 million to $5 million.
Meryl Streep, another holdout in the celebrity-endorsement
sweepstakes, is also believed to be considering a deal with Amex,
but corporate officials have refused to comment.
Both Oscar-winning stars are known for their charitable work
and have high credibility with consumers. Ad-industry sources
speculate that their commercials will be cause-related, perhaps
addressing the environment. The prime beneficiary, though, is Amex,
which can use the big box-office names to counter Visa's $8.5
million endorsement deal with Paul McCartney.