Word: mastercards
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Borrowing has become so easy, however, that it can take great willpower to resist. Perhaps the biggest lures are the credit cards that companies are so eager to hand out. "We've got this frenzy of gold MasterCard and gold Visa card offers in the mail during the past two months," says Cynthia Barnes, 28, a computer engineer at AT&T Bell Laboratories in suburban Chicago. "We got three of them in one day last week." The proliferation of plastic astonishes even bankers. Says John Godfrey, senior vice president and chief economist of Jacksonville-based Barnett Banks of Florida...
French banks and credit-card issuers plan to switch completely to smart cards by 1988. In the U.S., MasterCard will launch the first smart-card experiment this fall by giving out about 100,000 of them in Columbia, Md., and Palm Beach, Fla. If that pilot program goes well, MasterCard may begin national distribution as early...
Mulroney and Turner differed so little on the issues that New Democratic Party Leader Edward Broadbent dubbed them "MasterCard and Visa." Both candidates, for example, pledged to cut the government's deficit of $23 billion and increase defense spending. At times the only real squabble between them seemed to be how many promises Mulroney had made; by Turner's count, the Tory had made 338. One Liberal TV ad featured a shopping cart crammed with packages at a cash register; the items were labeled "Tory promises," but none carried prices...
...need to be merged with some stronger institution. The most attentive suitors for Continental appear to be New York's Chemical Bank and First National Bank of Chicago, Continental's neighbor and archrival. Chemical (1983 assets: $51.1 billion) last March acquired Continental's thriving Visa and MasterCard business for $176 million, outbidding First Chicago in the process. After poring over Continental's books last week, Chemical officers privately called the ailing bank's woes "not insuperable," and then publicly added that they were "taking a serious look...
...Right, they stopped you when the flight attendant got suspicious about a 4-ft., 6-in. fourth grader with a Mastercard...