Word: teller
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Dates: during 1980-1989
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Some banks, on the other hand, have decided to go after consumer business and de-emphasize the corporate side of finance. The most innovative of these is Citibank, which has sunk $225 million into new consumer technology. It has installed 468 automated-teller machines that now dot the streets of New York City like so many telephone booths. The new tellers can take deposits, issue cash and transfer funds from a savings account to checking. The machines already handle about 30% of the bank's consumer business at one-half the cost of transactions handled by human tellers. Says...
DIED. Robert McNeil), 75, who as chairman of Manufacturers Hanover Trust from 1963 to 1971 led the banking industry in a successful four-year fight for federal clarification of how antitrust laws affect bank mergers; in Orlando, Fla. McNeill worked his way up from a small-town bank teller to become a vice president of Hanover Bank in 1940, and went on to help engineer its merger with Manufacturers Trust...
...second largest bank ($102 billion in assets), Wriston has replaced David Rockefeller as the premier spokesman for America's moneymen. A graduate of Tufts University's Fletcher School of Law and Diplomacy, Wriston has pushed Citibank into the forefront of the banking revolution symbolized by automatic teller machines. Low interest rate ceilings on passbook deposits, he maintains, discourage the savings that are desperately needed to spur investment. Says he with characteristic bluntness: "We're being forced to rip off the public. The savers are subsidizing the borrowers...
...choice was between working for a local lawyer who wanted to improve the Ivy-League image of his office, or for a bank--a little slow, perhaps, behind the teller's window, but good money for smiling and counting. So I wore tweed and joked with earnest sophistication everywhere I applied for a summer...
...decision, as a friend said, "almost killed" Oppenheimer. But despite Oppenheimer's tragic fate. Else refrains from blaming Teller or any government officials. Using a sequence of pictures taken shortly before Oppenheimer's death in 1967. Else simply shows the process by which Oppenheimer withered away. The sequence proves more powerful than any battery of accusations could ever...