By Compiled from Times wires
Published June 29, 2003
General Motors is taking an unusual approach in an ad campaign this summer: It admits it once had a lousy product, but now it's much, much better. Forbes reports that one print ad says "30 years ago, GM quality was the best in the world - 20 years ago, it wasn't." Then it details "the story of our long journey back." GM says it hopes to alter a widely held belief that American cars, especially GM, are poor quality.
If you've bought a product you saw on a television show, you're not alone. A quarter of viewers say they've bought an item they saw on a program, and they may have more opportunities. Media planners say they expect significant growth in product placement advertising next year.
As the summer heat rises, so do air-conditioning bills. Florida Power & Light Co. says consumers can take steps to reduce cooling costs, such as raising thermostats to 82 degrees or higher when away from home and checking or changing air-conditioning filters monthly.
The word on Wall Street is that the current bull market is real but will remain tame. BusinessWeek says in its midyear investment guide that the bullish environment "could last for a year, maybe even two," but look for annual gains only in the high single digits. Wall Street luminaries including Abby Joseph Cohen and Mario Gabelli tell Barron's they are "guardedly optimistic" on the economy and stock market, but "decidedly bearish on bonds."
Still skeptical that the bull market is for real? Barron's also offers this indicator as proof: Look at women's hemlines - they're rising. In Wall Street lore, that means stocks will move up, too.
