Word: amex
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Dates: during 1980-1989
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...York City restaurant patrons who charge their meals to American Express got something extra last week: a thank-you note. Amex is contributing 3 cents from each bill to Citymeals-on-Wheels, a program that delivers food to the elderly and homebound. To encourage customers to contribute directly toward more charity meals, Amex provided postage-paid envelopes for donations using check or charge. During the month of November, the company expects to collect more than 1.6 million three-penny chit donations, enough for 10,000 meals-on- wheels, at the more than 3,500 New York City restaurants that accept...
...National Association of Securities Dealers Automated Quotations) composite index of OTC stocks rose a record 17 days in a row before it fell last Friday. The previous mark: eight consecutive days in April 1983. OTC shares took a pounding in 1984, but now they are rebounding almost as fast. Amex's Market Value index has jumped 9.6% in 1985, and the Nasdaq has shot up 12.6%. In the past two weeks the daily volume of trading in Nasdaq shares has averaged 97 million shares, in contrast to 60 million in 1984. OTC stocks are often so inexpensive that even...
Compared with an annual fee of $35 for the green version and $50 for the gold, the new platinum card will cost a plush $250 when it is offered this summer to some 500,000 of Amex's best customers. To qualify, users must have run up charges of at least $10,000 during the past year, and must have a record of prompt payment. Those eligible for a platinum card will receive services unavailable to other American Express customers. They will be able to tap 1,200 automatic tellers around the U.S. for cash advances...
...Qube service enables subscribers using hand-held terminals to participate from their homes in programs ranging from quiz shows to televised public opinion polls. But after finding a lack of interest in the two-way offerings, Warner Amex decided to virtually close down its Qube network, which had been supplying 90 minutes of nightly two-way programming to 325,000 homes in six cities. While Qube subscribers will still receive up to two hours of locally originated two-way shows each day, they will have only occasional access to new network programs...
...blackout represents the latest cost-slashing move by former Transportation Secretary Drew Lewis, 52, who left the Reagan Cabinet last January to become chairman of Warner Amex. It currently operates 121 cable systems in addition to the six Qube outlets in Columbus, Cincinnati, Pittsburgh, Dallas, Houston and St. Louis. Under Lewis, Wirner Amex has embarked on such steps as an effort to cut existing cable service in Dallas, Pittsburgh and Milwaukee. Even so, some analysts expect Warner Amex to run up more than $100 million in losses this year, on top of an estimated 1983 deficit of as much...