Word: amex
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Dates: during 1980-1989
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...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...
...Amex Life Assurance Co. decided to award the money despite the Navy's conclusion that Hartwig may have engineered the blast to commit suicide. But the company disputes the claim by Truitt's lawyer that the payoff disproves the Navy's findings. Said a spokesman: "Amex is not saying that ((Hartwig)) did or did not commit suicide. What Amex is saying is that there is not enough evidence to deny a claim based on suicide...
...Once in, you can stop making new contributions -- but it's expensive to get old ones out. So don't think you'll just pocket that 12% for a year and then move on to something else. If you withdraw your money, Amex charges a penalty, 7% the first year, which gradually evaporates in seven years. But there's also the 10% IRS penalty on withdrawals before age 59 1/2 and, whatever your age, the income tax due on the interest your funds have earned...
...Amex shows how $200 a month for 25 years would grow to $183,000, assuming 12% the first year and 8% each subsequent year, vs. just $124,000 outside the shelter of a tax-deferred annuity. But that's $183,000 before tax vs. $124,000 after tax. And it assumes that the best you could earn on your own is a fully taxable 8% a year...