Good morning, AdLand. Here’s what you need to know today:
The tax reform plan proposed Wednesday by Rep. Dave Camp (R-Mich.) includes new limits on the provision that has for years allowed companies to deduct their advertising expenses from their taxes. The proposal was met with outrage by a number of industry groups, which can best be summed up by this quote from Clark Rector, evp of government affairs for the American Advertising Federation: “It’s a sledge hammer to business, a dis-incentive to advertise, and counterproductive to stimulating the economy.”
JCPenney says it has completed the most difficult part of its turnaround and that it is planning to run six ads during Sunday night’s Academy Awards. The ads will push the company’s new tagline, “When it fits, you feel it.”
Puma’s Cobra Golf brand named VML its agency of record. The account was previously held by id29.
The Interactive Advertising Bureau announced it is promoting senior vice president and general counsel Mike Zaneis to the position of executive vice president and general counsel.
Former DDB New York design director Juan Carlos Pagan will take up the same role at Deutsch New York.
IBM is soliciting mobile app developers to help get its famed Watson technology on smartphones and tablets.
Digiday says the advertising student portfolio no longer demonstrates that students have the skills they need to be competitive in an industry that increasingly requires them to build things rather than make traditional ads.
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