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| Topic: |
Business
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| Number of pages / Number of words: |
13 / 3450 |
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Sonic's first television advertising campaign was launched also.
When Cliff Hudson joined the legal department in 1984, Sonic had a loose collection of around 1000 independent restaurants in 19 states. There was no national advertising program, accounting was done manually, and packaging was inconsistent, and even the menu varied from store to store...
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He realized that changes had to be made to turn Sonic's poor financial performance around. After he led a successful buyout in 1986, Hudson was instrumental in the resurrection of Sonic.
Hudson headed two different stock offering in 1991 and 1995. These offerings raised enough capital to pay off the company debt and add to working capital...
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