Cape Cod hires Baltimore ad agency
Economic development officials in Cape Cod, Mass., have hired Trahan, Burden & Charles of Baltimore to help boost tourism in the off-season and promote the area to international visitors, the advertising and public relations company said yesterday.
The Cape Cod Economic Development Council will pay an estimated $100,000 for the area's first market analysis and tourism development plan in 18 years, said John P. O'Brien, the council's executive director. The effort will be led by Trahan Executive Vice President Sandra S. Hillman, he said.
Saatchi chairman steps down
Maurice Saatchi, who built the Saatchi & Saatchi advertising empire and then nearly drove it to ruin through overexpansion, was forced out last night as the company's chairman under pressure from shareholders angry over his pay and his role in internal squabbles.
Mr. Saatchi, along with his brother, Chalres, built a small London agency into a powerhouse through a series of acquisitions on Madison Avenue during the 1980s that earned them the nickname "Snatchit and Snatchit." Charles Saatchi left the board at the end of last year.
Martek has 4th-quarter loss
Martek Biosciences Corp. announced yesterday a fourth-quarter loss of $2.09 million, or 26 cents per share, compared with a loss of $856,000, or 16 cents per share, in the same period last year.
Revenue for the three months that ended Oct. 31 was $425 million, down 54 percent from last year's period.
For the fiscal year, the Columbia-based company lost $5.29 million, or 67 cents per share, on revenue of $3.04 million. In fiscal 1993, Martek lost $2.45 million, or 43 cents per share, on revenue of $4.52 million.
Microsoft is victim of hoax
Software giant Microsoft Corp., the victim of an electronic hoax on the Internet, issued a statement yesterday denying it was seeking to acquire the Roman Catholic Church.
The false report, written in the guise of a news article, has been circulating for about a week on the global web of computer networks.
"The story has no truth and was not generated by the company," the Microsoft statement said.
First Financial chief retires
First Financial Corp. of Western Maryland announced
yesterday that Richard C. Deckerhoff, 67, has retired as chairman and chief executive. Mr. Deckerhoff will be suceeded Jan. 1 by Patrick J. Coyne, 52, formerly president and chief executive officer of Johnstown (Pa.) Savings Bank.
@