One of the few big U.S. industries in which the general public has never had a real chance to invest is the $12 billion-a-year advertising business. Last week admen from coast to coast were chattering over the news that a Manhattan agency had broken the pattern by asking the
SEC for permission to sell stock to the public. The pioneer was not one of Madison Avenue's Goliaths but Papert, Koenig, Lois, Inc., a fast-rising newcomer that in four years of existence has boosted its annual billings from $69,000 to $5,900,000 on accounts ranging...
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