Word: amex
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...shock has been particularly strong in the service industries. At American Express, which expects to fill 75,000 entry-level positions in the next five years, profits depend on good customer relations. Says Amex President Lou Gerstner, whose company spends $10 million annually to teach its new workers basic English and social skills: "I lie awake at night wondering where I'm going to find well-qualified employees for the future." Even the art of cooking requires more of workers than ever before. Last year Domino's Pizza of Ann Arbor, Mich., discovered that its fledgling bakers had trouble understanding...
...survived the 1929 Crash and traded in USX Corp. and Royal Dutch/ Shell Group, among other stocks. Last week Tompane sold out to Merrill Lynch for an undisclosed sum. Also merged out of existence was W. Damm M. Frank & Co., an American Stock Exchange specialist that traded in 30 Amex stocks before the crash. The firm was acquired by Bear, Stearns. That could be only the beginning. Says Samuel Liss, an analyst at Salomon: "We are going to see more specialist firms merging with better-capitalized parents...
...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...