Business Notes ADVERTISING

Paul Newman, superstar, race-car driver and purveyor of his own name-brand salad dressing, has long avoided the big-time endorsement deals that many of his Hollywood peers covet. Too commercial, he was thought to feel. But last week word circulated that the star of Cool Hand Luke and Blaze had agreed to do a TV spot for American Express for a reported $2 million to $5 million. Meryl Streep, another holdout in the celebrity-endorsement sweepstakes, is also believed to be considering a deal with Amex, but corporate officials have refused to comment.

Both Oscar-winning stars are known for their charitable work and have high credibility with consumers. Ad-industry sources speculate that their commercials will be cause-related, perhaps addressing the environment. The prime beneficiary, though, is Amex, which can use the big box-office names to counter Visa's $8.5 million endorsement deal with Paul McCartney.