Word: expression
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Dates: during 1980-1989
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...repair costs in case their vehicles were damaged. But many major credit-card companies now offer such coverage to their cardholders at no cost whenever they charge a rental. As a result, more and more consumers decline the pricey waivers. In the most sweeping move so far, American Express began offering the collision coverage last week to its more than 11 million green-card holders. The American Express action, says Joseph Russo, a Hertz vice president, "begins the de facto elimination of the CDW by car-rental companies...
...most of the revenues from them go toward repairing vehicles. But now at least some car-rental executives concede that the CDW has been a money-maker all along. The Hertz rate increase, says Russo, is "primarily designed to take care of the revenue loss" that will follow American Express green-card coverage...
...growing resentment against CDWs created a marketing opportunity for credit-card firms, which concluded that such coverage would be so inexpensive that they could offer it free. (The credit-card coverage is typically supplement insurance, which pays damages if other policies cannot be tapped.) American Express began providing the coverage in November 1987 to its gold- and platinum-card holders. Last year MasterCard and Visa did the same for their premium customers, but they have not yet done so for regular cardholders...
...banks to write off the loan- loss reserves they have set aside against the possibility of defaults. But countries that have tried to declare moratoriums, like Peru and Brazil, have learned they merely forfeit all chance of fresh credit. Yet another plan, advocated by James Robinson III of American Express, urges creation of an international debt-management authority. The body would buy all outstanding downgraded bank loans. The difference between the loans' current discounts and their face values would be absorbed by the contributors to the authority, comprised mainly of wealthy countries. Once the loans are settled, the debtor countries...
...remembers, as he sought to enlist public and private support for his cause. "Being able to fail is a key to the volunteer process," he adds now. "In their jobs, people aren't allowed to do that. The real joy of being a volunteer is the freedom to express yourself without fear that it will be held against...