Word: creditcard
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...Netscape Communications. The Mountain View, California, start-up commands more than 70% of the market for software that enables networkers to "browse" the World Wide Web--the fast-growing multimedia portion of the Internet. Having promised it would make the Net safe for business--including home banking and online creditcard shopping--Netscape has become a fat target for anybody with the time or skill to prove that it hasn't achieved that goal. Just last month the company had to rush out a new version of the Netscape browser after two groups of hackers cracked its security code...
...chamber-of-commerce oration. In 1904 an immigrant's son, Amadeo Peter Giannini, founded a poor man's bank in a San Francisco saloon. Today the Bank of America is the world's largest, with assets of $25 billion, 952 Stateside branches and 94 overseas, and a creditcard system used by 25 million worldwide subscribers. Another poor boy. Charles B. ("Tex") Thornton, who started out as a government clerk, is one of the pioneers of the conglomerates with his Litton Industries. It was California that sent the aerospace industry rocketing; today companies like Lockheed and North American Rockwell command...
...fast-spreading use of bank credit cards, which have become the hottest topic of debate and a source of frenetic competition among U.S. bankers. During the past twelve months, estimates the Federal Reserve Board, more than 1,000 banks have moved into the field. "We're on a creditcard binge," says Executive Vice President Paul Welch of Atlanta's Citizens & Southern National Bank. And most bankers agree that neither banking nor business will ever be the same...
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