European Stars And Stripes (Newspaper) - December 5, 1986, Darmstadt, Hesse                                Christie makes a Cornel continued from Page 13 air ,1 Newsweek Magazine Story Playboy the parly 5 Over " said Cohen. You Gol lived o answering questions from your neighbor. I Ley Cohen you got a of our december Issue proved Lobo a shot in the Arm everyone go cranking 1 rungs Star cd of tall in place there s 3 feeling right now. T Ley. Come on we 10 going to make it " Lui Bowitz. An investment banker with american Sec Iril ies corp in n new York agrees this is a very Strong company and a Leader m its  to Sairaj it has been brought Down to its Core businesses bul each offers n Good oppo Rumly Lor Lulu re growth " other Wall is incl analysts Are a Ettla More tempered saying Playboy is a speculative investment. Bul they agree that the company is manually Strung with plenty of assets and no debt Hugh Hefner. 60, is still chairman of the Board. Bul he now pretty much slays on the sideline at the Playboy mansion in los Angeles particularly since having a stroke last year Chris no is clearly a lung into one of Iho finest executives on the scene today Leibowiz said Sheamo Al a Lime when she company was in a stale of transition the company Loday is Lar stronger and boiler equipped to meet the Buluro than it was As recently As 24 or 36 months ago Ai in d Mancial Peak fiscal 1981. Fio Playboy  earned t3 7 million in fiscal 10b5. It made a 7 million must Otine 1986 Lodics were from now discontinued opera Lions Playboy clubs accounted for $ 13 million of the red Ink while $40 million was attributed to a bankrupt firm thai defaulted on payment for its 1984 Purchase of a Lormer Playboy hotel in Atlantic Fly. N a the now &549.000 prof in was underscored by a 30 percent increase in revenues from the Home video division. That s a surprisingly Good number considering the Tirol Quarter is traditionally the weakest said one Wall Street analyst three decades ago. Playboy burst onto the american scene As a daring provocative publication. It featured and still does photos of naked women articles by top writers and interviews with leading figures. Today compared to a clutch of More esque and Raunchy imitators. Playboy seems tame. Yet. Feminist Gloria Steinem has said when she tips through Playboy she feels like a jew Reading nazi literature. And others including a wave of citizen and fundamentalist groups lha push for a tougher enforcement of obscenity Laws Lump the Magazine As among those it finds object enable. Last february. The Meese commission sent its Teller to retailers of Playboy warning the stores thai they had been accused of being involved in the Sale or distribution of  Playboy obtained a court order that directed the commission to rescind and to repudiate the loiter lawyers for Playboy and the Justice department Are now trying to reach a settlement on the Playboy lawsuit that seeks damages. In july the commission capped a year Long study on pornography by issuing a report that cited a casual relationship disputed in other studies Between pornography and violence. All Erward following widespread criticism and oven ridicule the commission said it was referring Only to hard Core pornography in its report not Playboy and other such publications or Park Dieltz a commission member and a sociologist and psychologist even said Playboy Centrefolds Are in a category thai the commission says is harmless and that i personally think is actually heal Why in Many  despite the decline in circulation Over the past decade Playboy remains America s Best Selling men s Magazine. It Playboy s annual revenues Nat sates and revenues bom Yonl Inuos operations i Chioino pubic Tats fashion and Homo video of Playboy enterprises inc. By your 1982 1983 1984 source Playboy enterprises 1985 1986 up graphic tops the More sexually explicit Penthouse and Hustler As Well As such mainstream publications As sports illustrated Newsweek and people. In 19b2, under Christie Hefner s direction o keep Pace. With the times and to find More Markeis Playboy formed its Home video and merchandising and licensing  video Branch reflecting some Industry wide problems had a drop in Cable television subscribers in 1986, but the division still made Money and several cassettes hit billboard s top 40 list including Thiee \ video versions of Playboy Magazine. Playboy and playmate merchandise from bedsheets and jewelry to jeans and shirts Are also turning a profit. Helping sates is the Playboy logo the Bow tied Rabbit second Only to the coca cola Emblem As the world s most recognized. As part of the Playboy transformation some longtime ctv., Utor Bof dam Ulm  club Page 14 the stars and stripes