In his oak-paneled Park Avenue office one morning last week, Manhattan Adman Emerson Foote chewed gum and chain-smoked Lucky Strikes while he waited impatiently for the reporters to crowd into his press conference. Then he quietly dropped his bombshell. He announced that high-powered Foote, Cone & Belding, Inc. had resigned its $12,000,000-a-year account as advertising agent for The American Tobacco Co.
The resignation reduced F. C. & B.'s commissions by about $1,800,000 a year, 20% of its total volume. Never before had any agency voluntarily given up such a fat account (one of the twelve largest in the U.S.). Foote's...
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