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To celebrate the advertising agencies that pump much cash into the city, this week is Advertising Week NYC. There are many events, such as panels about politics and advertising, cities and brand (the city's partnership with Snapple will be mentioned, and that panel is at the Bloomberg headquarters!), and the legends of advertising, exhibits of famous campaigns and icons at Grand Central Terminal and various agencies, and a festival of commercials. About forty years ago, you could expect Madison Avenue ad execs to be having three-martini lunches, expensing everything. It's unclear whether that will be celebrated.

Today, there will be procession of "America's Favorite Ad Icons," which starts in Times Square at 10:15AM then travels up to Madison and 50th Street, culminating in the announcement of who America's favorite ad icons are. Expect to see Mr. Owl, the Pillsbury Doughboy, and more friends in Midtown. Gothamist is most excited about the exhibits at Grand Cetnral - one is about "I Love NY."

The Daily News had some suggestions about what icons could be doing. And Gothamist on the ad icons visiting City Hall