Beware the "ghost of Marlboro Friday," warns UBS analyst Alan Erskine. In a note to clients, he recalls when Philip Morris slashed the price of Marlboro cigarettes in a bid to fight back against generic cigarettes. The April 1993 decision backfired big time. Consumers questioned the premium value of the historic brand; PM's shares took a beating. The dilemma PM faced is similar to the one facing the big brand owners now, Elizabeth Rigby reports. Shoppers have been happy to spend more on recognizable products such as Unilever's Dove shampoo and Procter & Gamble's Gillette razors when times were flush, …

Kellogg will let swimmer Michael Phelps' contract expire at the end of February and has also decided to not renew its Olympic Team sponsorship, which expired in December. "Michael's most recent behavior is not consistent with the image of Kellogg," the company said in a statement. A photograph of Phelps taking a hit from a bong has traveled wide and far in recent days. Emily Bryson York reports that the photo of Phelps' behavior was a "second black eye for Kellogg," which signed him to an exclusive-for-cereal deal, keeping him off General Mills' Wheaties box. But three months later, …

Saturn dealers left a private breakfast meeting last week with General Motors executives in New Orleans saying they learned little more than before about the future of the troubled brand, Tim Higgins reports. GM executives have said the brand is not profitable and that something must be done to correct the situation quickly. "Let's face it, if you tried to sell a Saturn franchise today, there are no buyers," says John Pohanka, chairman of a Maryland-based group that owns three Saturn dealerships. Mark LaNeve, vp of GM North America, says the automaker has been …

Twenty years ago, Patrón almost single-handedly elevated the image of tequila in the U.S. with the launch of its costly flagship beverage, Patrón Silver. It's hoping to do the same for vodka as its new $40-a-bottle Ultimat brand goes up against Grey Goose (about $30) and Ketel One ($23) for the attentions of premium vodka drinkers. Produced in Poland, it will be sold in 750-milliliter cobalt-blue crystal bottles. Ed Brown, Patrón Spirits' CEO, thinks Ultimat can be distinguished from other high-end vodkas through marketing and the product's unusual ingredients. Although vodkas are neutral in taste, Ultimat is purportedly the …

Right Guard's Xtreme Fast Break deodorant will hit shelves in March with multi-media marketing including product placement, print, Internet and a storyline in the new season of "The Apprentice," Barry Janoff reports. NBA all-star Chris Paul will be the spokesman, as the brand steps back a bit from extreme sports.

Dairy Queen is rolling out a value menu called "Sweet Deals" this week, Keller tells Elaine Wong. The nine-item combination brings together offerings from DQ's frozen treats and fast-food menu list for $5 or less. It also is placing greater emphasis on its "collective brand experience."

Procter & Gamble has asked Goldman Sachs to identify potential buyers for its pharmaceuticals business, which primarily sells prescription drugs that focus on women's health and gastrointestinal and musculoskeletal problems, sources tell Julie MacIntosh and Jonathan Birchall. The company's $14.6 billion healthcare division, which sells over-the-counter products such as heartburn treatment Prilosec and Pepto-Bismol, reported $2.5 billion in net earnings for its pharmaceuticals business in 2008. CEO AG Lafley told analysts in December that the company had stopped investing in new drug development and would consider divesting some of its key pharmaceuticals brands. He …

Procter & Gamble may not see a future in selling osteoporosis drugs to aging baby boomers but, among other things, it is mindful that those aging bones are less likely to want to wash their own cars. Combine this with the fact that more communities find themselves needing to conserve water, and Nathan Estruth, vp of P&G's FutureWorks, sees an opportunity to build a national car cleaning franchise under the Mr. Clean banner. In December, P&G added the franchise assets of Atlanta-based Carnett's Car Wash, which has 14 locations, to the two Mr. Clean Car Washes it has operated since …

What's in a good name? Apparently, less than there used to be. Celebrity fashion brands are far from immune from the recession, Claude Brodesser-Akner reports. Plus, there are just too many stars trying to transfer red-carpet celebrity into runway gold. Fashion insiders say LL Cool J's apparel line is hanging by a thread at Sears. It's being advertised at up to 50% off online. Sarah Jessica Parker's Bitten line of clothing -- perceived to have been a hit -- was left without a retail partner when Steve and Barry's went bankrupt, also stranding Amanda …