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On the air

By TIMES WIRES
Published November 3, 2006

Biz tidbits from and about television and radio

Wal-Mart shows ad agency the door

Wal-Mart Stores Inc. is severing ties with another longtime ad agency as it struggles to communicate its new image of being a trend purveyor and a low-price operator. The world's largest retailer informed Omnicom Group Inc.'s GSD&M in Austin, Texas, that it would no longer need its services as of Jan. 31. The agency had worked with Wal-Mart for almost 20 years and had developed the "always low prices" motto, said Eric Webber of GSD&M. In August, Wal-Mart notified another longtime agency Bernstein-Rein Advertising Inc., that it would be dismissed at the end of January, said Neil Neumeyer of the ad agency. Bernstein-Rein, which worked with the discounter for 32 years and helped brand the smiley face for the retailer, created the discounter's holiday campaign, to be unveiled next month. According to reports on adage.com and adweek.com, Wal-Mart plans to replace the agencies with Draft FCB, a division of Interpublic Group, and Aegis Group's Carat USA.

Late-night yuk-yuks

Jay Leno: "Oil prices have now dropped below $58 a barrel, which if my math is correct, means the election is less than a week away. Better fill up by Tuesday."

Seth Meyers: "Many say that London has replaced New York City as the world's undisputed financial capital. Hear that terrorists? The world's undisputed financial capital is London."

Conan O'Brien: "This week the British government hired Al Gore as a global warming adviser. Gore says he's looking forward to being completely ignored in a new country."

On Mad Money

6 p.m./9 p.m./midnight most weekdays, CNBC

Jim Cramer suggested this stock on his CNBC show this week:

Chevron Corp. (CVX): The stock will become a good buy next week if California passes a ballot initiative to tax oil extraction, Cramer said. If the initiative, called Proposition 87, passes, the stock is likely to fall because the company will have to pay about $200-million in additional state taxes. But the stock will continue to perform well because the company has improved its marketing, has a good downstream chemical business, is cheaper than competitor Exxon Mobil Corp., has a dividend, is buying back stock and has "fabulous" long-term prospects in Canada and the Gulf of Mexico, Cramer said.

[Last modified November 3, 2006, 00:13:13]