Word: amex
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...wave one's little piece of green, gold or platinum plastic, and waiters and clerks would fawn prettily. Such potent snob appeal once seemed irresistible -- until American Express "cardmembers" began weighing the costs of privilege against the benefits of more plebeian credit cards. While the AmEx elite shelled out annual fees, Discover clients were issued free cards. Amex users had to pay their bills in full each month; savvy bank-card customers enjoyed revolving credit at modest interest rates. AmEx clients could brandish their cards in 3.7 million upscale establishments worldwide; Visa cards opened 11 million doors, MasterCard 12.3 million...
...this effort Johnson and six cronies combined forces with James Robinson III, the well-liked but not especially effective CEO of American Express, and Peter Cohen, the not-so-well-liked and not-at-all-effective chairman and CEO of Amex's subsidiary, Shearson Lehman Hutton. The triumvirate offered stockholders a bid of $75 a share, which added up to billions less than RJR was worth, making it quite a steal. Worse, the deal left Johnson in control and allowed him a package under which he and his pals could haul in as much as $2.5 billion. Yes, billion...
...agreed to step down when a successor was found. Then, after a divisive battle, Robinson faced down the board and early last week held to the chairmanship, picking his chosen successor, Harvey Golub, as chief executive. Three dissident directors resigned. Robinson's triumph lasted just four days, during which Amex stock dropped 13%. Investor groups began to call in. On Friday, yielding to pressure from all sides, Robinson gave up. "We made what we thought was the best decision, the right decision. However, it led to unnecessary confusion in the minds of some investors and the press," he said...
...discusses credit-card interest rates with a goldfish, yet. In another ad, he watches as a wealthy consumer is rebuffed by the salesclerk when he proffers the card. Says Seinfeld: "What! You pick the clothes, he picks the card?" Perfect casting. Seinfeld's message drips with a sarcasm that Amex could not deliver directly...
...holiday cheer between American Express and Laura Ashley, the clothing chain. Last week the charge-card giant ceased doing business with the retailer, accusing Laura Ashley of persuading customers to use other cards. As a result, the 520 Ashley stores around the world have had to stop accepting Amex charges. Ashley had been trying for some time to bargain down the fees it pays for purchases on the card. The bicker exploded into a brawl when a shopper, who turned out to be an American Express executive, was discouraged from using her card at an Ashley store in New Jersey...