Word: amex
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...Hilfiger, daughter of Tommy, and her pal Jamie Gleicher travel to lots of beautiful locales (Paris, Mustique, Nantucket), shop together at Saks and Bergdorf Goodman, and giggle about their closets, which are stuffed with a million bucks worth of clothing. Isn't life wonderful? Whatever. Fashion forecast: plastic (Visa, Amex) fantastic...
Hordes of hungry parents and their graduated progeny descend on Square restaurants this week. This much we know. If you are keen to avoid the hundreds of other newly crowned Harvard grads enjoying lunch out courtesy of their parents’ Amex, but still want to enjoy a good old fashioned bite at your folks’ expense—sans the crowds—the Four Seasons in Boston may have just the thing to celebrate those two new letters after your name. In the finest tradition of the genteel English high tea, the haute cuisine gurus at Boston?...
...Wall Street in 1955, he had built a respectable brokerage in Cogan, Berlind, Weill & Levitt by 1969. He then swallowed Shearson, Hayden Stone and other houses before selling the whole shebang in 1981 to American Express. By 1985, when Weill lost a power struggle with white-bread Amex CEO James D. Robinson III and was ousted as president, it wasn't because Weill was Jewish. He was just outmaneuvered. And he left as a multimillionaire. It's difficult for Langley to set a good sob story at Weill's palatial New York City apartment, his Greenwich, Conn., mansion...
After the Amex embarrassment, Weill and his band of mercenaries took over Baltimore's Commercial Credit Co. (CCC), a substandard subprime lender, then used CCC to go after bigger and bigger deals until they got to Citicorp. The bottom line wasn't the main thing; it was the only thing. As Langley shows, in Weill's world, anything that didn't produce revenue was gone. No perks were too small to eliminate...
Most corporate boards will not be able to meet these new standards without shuffling or adding directors. IBM, for instance, may have to replace American Express CEO Kenneth Chenault as a member of its compensation committee because AmEx is a $4 billion customer...