Word: amex
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Dates: during 1990-1999
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There are three Net indexes on which you can buy put options: Amex Inter@ctive Week, Goldman Sachs and TheStreet.com The Amex also sells long-term options (LEAPS) on individual stocks, including aol, Yahoo, @Home and Ascend. Those expire in January 2001 and give plenty of time for the bubble to burst. But the stock would have to fall 50% in that time for the LEAP...
INDEXCLOSE CHANGE Dow Jones Industrial 8986.64 +118.32 S&P 500 1120.01 +11.86 NYSE 582.04 +5.63 Nasdaq 1852.96 +5.30 AMEX...
...part Amex vows that the wars have just begun. "We are by no means uncorking the champagne bottle," says Chenault, 46, Golub's heir apparent and the architect of the company's comeback in cards. "But we are very much in the game, which is a very different situation from three or four years ago." Chenault still winces at the memory of a focus group back then, when the holder of a rival card that earned free airline miles declared, "I want to go with you guys, but you guys are so stupid that you're not offering this product...
Golub's most ambitious plan so far remains only a gleam in his eye. He wants to transform the credit-card business by plugging U.S. banks into the American Express network and thereby enabling the lenders to issue Amex credit cards. That's the last thing Visa and MasterCard want to see happen, and they've stymied Golub with bylaws that prevent their U.S. bank partners from offering other cards. Golub may get some help from the Justice Department, which is reportedly investigating the competitive behavior of the two big credit-card associations...
...Britain's NatWest and France's Credit Lyonnais now put their names on American Express cards. As a result, Golub says, the number of merchants that accept American Express plastic outside the U.S. "is coming up rapidly." That means the card will be even less exclusive than ever, but Amex has learned that it no longer pays to thumb its nose at the masses...