Wednesday, September 25, 2013

The firm was originally headquartered

The firm was originally headquartered in the Empire Building at 71 Broadway in New York City and maintained another main office in Chicago.[5] By the end of World War I, Shearson Hammill had six branch offices and seven correspondents.[6] HP G42-380LA Laptop Keyboard

In the 1960s Shearson, Hammill became well known for its commercials that suggested "If You Want To Know What’s Going On On Wall Street, Ask Shearson Hammill."[7] The firm had 63 offices in the US and internationally supported by a well-regarded securities research department.

In the early 1970s, Shearson faced financial difficulties as did many of the venerable Wall Street firms in the midst of the1973–1974 stock market crash. HP 636376-001 Laptop Keyboard

In response to the crisis, Shearson laid off a large portion of its staff in 1973.[9] Meanwhile, through the 1960s and 1970s, Sanford I. Weill, the chairman of the up-and-coming Cogan, Berlind, Weill & Levitt, had been acquiring many of Wall Streets oldest and most venerable investment banking and brokerage firms. COMPAQ Presario CQ40-117TU Laptop Keyboard

By 1973, Weill's firm was known as Hayden Stone, Inc. following CBWL's acquisition of Hayden, Stone & Co. Despite its strong retail brokerage business, Shearson's capital reserves were diminished and by 1974, it was clear that Shearson did not have sufficient capital to survive as an independent firm, opting to merge with Weill's better capitalized Hayden Stone, LENOVO V022402AS1 Laptop Keyboard

Inc.. The combined firm was renamedShearson Hayden Stone, as Weill retained the Shearson brand, which was widely recognized as a major underwriter and brokerage.

Weill's next major target in 1979 was another prominent investment bank, Loeb, Rhoades, Hornblower & Co., which like Shearson had been suffering financial difficulties and was looking for a potential acquiror. HP G62-a38SE Laptop Keyboard

During Mothers Day Weekend 1979, Shearson and Loeb agreed to an $83 million ($262.5 million today) all-stock merger to form Shearson Loeb Rhoades, with Weill assuming the position of CEO of the combined firm. At the time of the merger, Shearson Loeb Rhoades, with $260 million of combined assets and approximately $550 million of revenue, Lenovo ThinkPad Edge E520 Laptop Keyboard

was among the largest investment banking houses. By most measures, Shearson became the second largest brokerage firm in the U.S. trailing only Merrill Lynch. The merger with Loeb Rhoades was more notable for introducing a stronger investment banking business to Shearson.

During the 1980s, American Express embarked on an effort to become a financial services supercompany. HP Pavilion dv5-1160ep laptop keyboard

In mid-1981 it purchased Sanford I. Weill's Shearson Loeb Rhoades, the second largest securities firm in the United States to form Shearson/American Express. Shearson Loeb Rhoades, itself was the culmination of several mergers in the 1970s as Weill's Hayden Stone, Inc. merged with Shearson, Hammill & Co. in 1974 to form Shearson Hayden Stone. HP Pavilion DV6-1145ew laptop keyboard

Shearson Hayden Stone then merged with Loeb, Rhoades, Hornblower & Co. (formerly Loeb, Rhoades & Co.and Hornblower & Weeks) to form Shearson Loeb Rhoades in 1979. With capital totalling $250 million at the time of its acquisition, Shearson Loeb Rhoades trailed only Merrill Lynch as the securities brokerage industry's largest firm. After its acquisition by American Express, the firm was renamed Shearson/American Express.  HP G61-435ST laptop keyboard

After selling Shearson to American Express, Weill was given the position of president of American Express in 1983. The following year, Weill was named chairman and CEO of American Express's insurance subsidiary, Fireman's Fund Insurance Company. Weill grew increasingly unhappy with responsibilities within American Express and his conflicts with American Express' CEO James D. SONY Vaio PCG-K315S laptop keyboard

Robinson III. Weill soon realized that he was not positioned to be named CEO and after the firm's merger with Lehman Brothers Kuhn Loeb, Weill chose to resign from American Express in August 1985. Weill would return to building a large financial services company of his own, which would become Citigroup and would go on to acquire the core Shearson brokerage business that he had built in the 1960s and 1970s. Lenovo 3000 G450 2949 laptop keyboard

In 1984, American Express acquired the investment banking and trading firm, Lehman Brothers Kuhn Loeb, and added it to the Shearson family, creating Shearson Lehman/American Express.

Lehman Brothers Kuhn Loeb, which itself was the merger of Lehman Brothers and Kuhn Loeb in 1977 was led by Pete Peterson, COMPAQ Presario R3000 laptop keyboard

a formerUnited States Secretary of Commerce and future founder of the Blackstone Group. However, by the early 1980s, hostilities between the firm's investment bankers and traders, who were driving most of the firm's profits, prompted Peterson to promote Lewis Glucksman, the firm's President, COO and former trader,  COMPAQ Presario CQ41-219AX laptop keyboard

to be his co-CEO in May 1983. Glucksman introduced a number of changes that had the effect of increasing tensions. Coupled with Glucksman’s management style and a downturn in the markets, these tensions resulted in a power struggle that ousted Peterson and left Glucksman as the sole CEO.[13] Upset bankers who had soured over the power struggle left the company. HP 407218-001 laptop keyboard

The company suffered under the disintegration, and Glucksman was pressured into selling the firm. After the merger, Peter A. Cohen was named Chairman and CEO of Shearson Lehman,[14]

During this period, Shearson Lehman was aggressive in building its leveraged finance business in the model of rival Drexel Burnham Lambert. TOSHIBA Satellite M645-S4070 laptop keyboard

In 1989, Shearson backed F. Ross Johnson's management team in its attempted management buyout of RJR Nabisco but were ultimately outbid by private equity firm Kohlberg Kravis Roberts, who were backed by Drexel.

In 1984 Shearson/American Express purchased the 90-year old Investors Diversified Services, bringing with it a fleet of financial advisors and investment products.  SONY VAIO VGN-NW15L laptop keyboard

In 1988, Shearson Lehman acquired E.F. Hutton & Co., a brokerage firm founded in 1904 by Edward Francis Hutton and his brother Franklyn Laws Hutton. Under the Hutton brothers and later Robert M. Fomon and the well-known Wall Street trader Gerald M. Loeb, E.F. Hutton became one of the largest brokerage firms in the U.S. HP 576835-001 laptop keyboard

Hutton was best known for its commercials in the 1970s and 1980s that used the phrase, "When E. F. Hutton talks, people listen."

In the 1980s Hutton was caught up in a number of difficulties that ultimately led the firm to seek a buyer. Hutton's most serious trouble came from a check kiting scandal that was uncovered in 1985. HP G62-450SV laptop keyboard

Hutton branches were writing checks against accounts at various regional banks and then funding those accounts with checks from yet other banks. This strategy, known as "chaining," gave Hutton the use of money in both accounts until the checks cleared. In effect, Hutton was giving itself a free loan that also did not carry any interest.[15][16] SONY VAIO VGN-FZ21E laptop keyboard

Then, in early 1987, an internal Hutton probe revealed that brokers at an office in Providence, Rhode Island,laundered money for the Patriarca crime family. Although Hutton reported the investigation to the SEC, it was not enough to stop prosecutors from all but announcing that Hutton would be indicted.[17] SONY VAIO VGN-N250E/B laptop keyboard

 This last scandal was uncovered only a week before the 1987 stock market crash. By the end of November 1987, Hutton had lost $76 million, largely due to massive trading losses and margin calls that its customers could not meet. HP Pavilion dv6-3089la laptop keyboard\

On December 3, 1987, Hutton agreed to a merger with Shearson Lehman in a $1 billion ($2,020,796,719 today) deal. The merger took effect in 1988, and the merged firm was named Shearson Lehman Hutton, Inc.[18]

Following the merger, dozens of Hutton brokers left the firm to join competitors. SONY VAIO VGN-N38Z/W laptop keyboard

At the same time, the combined firm suffered dwindling business from individual investors as its focus was shifted to large corporate transactions.[19] The Hutton brand was used until 1990, when American Express abandoned the name and the business was renamed Shearson Lehman Brothers. Joe Plumeri became the President & Managing Partner of Shearson Lehman Brothers in 1990.[20][21] HP Pavilion dv6-3190ee laptop keyboard

In 1992, Shearson sold the Boston Company, an asset management group, to Mellon Financial. In December 1988, the Boston Company, had disclosed that it had overreported its earnings by $30 million.

When Harvey Golub became CEO of American Express in 1993, he negotiated the sale of Shearson's retail brokerage and asset management business to Primerica.

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Primerica's Sanford I. Weill had been the architect of what had become Shearson/American Express in the 1960s and 1970s building up his small firm Cogan, Berlind, Weill & Levitt into one of the largest brokerage firms in the US. The Shearson business was merged with Primerica's Smith Barney to create Smith Barney Shearson. Ultimately, the Shearson name was dropped in 1994.[3] DELL NSK-D8001 Laptop Keyboard

In 1994, American Express spun off of the remaining investment banking and institutional businesses as Lehman Brothers Holdings Inc which after almost fifteen years of independence would file for bankruptcy protection in 2008.

The American Express Centurion Card, known informally as the Black Card, is an LENOVO IdeaPad S10 20015 Laptop Keyboard

invitation-only charge card issued byAmerican Express[1] to platinum card holders after they meet certain criteria.[2] There are two different issues of the Centurion Card, personal and business. The company's promotional material describes centurion members as "super-affluent high net worth individuals on a continual quest for the best and most exclusive. HP G62-450SV Laptop Keyboard

They own companies and frequently travel. Exceptionally discerning and style-conscious, they live vicariously through themselves. Centurion members are global players who gain truly worldwide access to the inaccessible."

American Express introduced the Centurion Card in 1999 to cater to a more affluent customer segment. TOSHIBA Satellite L300 Laptop Keyboard

The card was initially available only to select users of the company's Platinum Card. To become a Centurion cardholder, one must meet American Express' eligibility criteria. Cardholders are required to pay an annual fee, and in some countries also an initiation fee (In the United States, the first-year initiation fee is $7,500 plus the $2,500 yearly fee, followed by $2,500 each year thereafter).[2] HP G72-b52SF Laptop Keyboard

In addition to a variety of exclusive benefits, the card itself is made of anodized titanium[2] with the information and numbers stamped into the metal (It should be noted that in some markets, the plastic version of the card is still issued, with or without the titanium card.) American Express created the card line amid rumors and urban legends in the 1980s that it produced an ultra-exclusive black card for elite users who could purchase anything with it. IBM Lenovo Thinkpad X201 Laptop Keyboard

The Centurion Card is invitation-only after an appropriate net worth, credit and spending criteria are met.[2] American Express does not publicly disclose the requirements necessary for getting a card except that the cardholder has a substantial net worth and they are a former platinum card holder.[2] GATEWAY AEPA6TAU111 Laptop Keyboard

 For reference, the average Centurion cardholder has $16.3 million in assets and an annual household income of $1.3 million.

The card, available for personal and business use, offers services such as a dedicated concierge and travel agent, complimentary, companion airline tickets on international flights on selected airlines with the purchase of a full-fare ticket, HP 496878-001 Laptop Keyboard

personal shoppers at retailers such as Gucci, Escada, and Saks Fifth Avenue, access to airport clubs, first-class flight upgrades, membership in Sony's Cierge personal shopping program and dozens of other elite club memberships.[2] Hotel benefits include one free night when at least one paid night is booked during the same stay in every SONY VAIO VGN-FZ21E Laptop Keyboard

Mandarin Oriental hotel worldwide once a year[2] (except for the New York City property),[7] and privileges at hotel chains like Ritz-Carlton, Leading Hotels of the World, and Amanresorts. All of the benefits mentioned above are for United States-issued cards. American Express Centurion Cards issued in other countries may include different benefits.  Lenovo 04W0872 Laptop Keyboard

The card has recently added new amenities, including access into the Gulfstream Aerospace Private Flyers Club, Virgin Atlantic Flying Club Gold, as well as US Airways Platinum Preferred and Delta SkyMiles Platinum Medallion status. In 2007, American Airlines Admirals Club access was added to the list of amenities.[8] HP 519265-001 Laptop Keyboard

As of 2010, the card provided unlimited access to all US Airways Clubs regardless which carrier the cardmember is traveling on (unlike Delta, and American)[citation needed]. The card also features complimentary enrollment in Hertz Rent-A-Car #1 Club Gold and the Avis Rent-A-Car President's Club.[9] Lenovo ThinkPad Edge E520 Laptop Keyboard

The titanium-crafted "Centurion" card was first issued as an upgrade for all plastic U.S. "Centurion" cards in the first half of 2006, with the titanium version being rolled out to certain other countries as well.

Some Centurion customers have purchased Bentley automobiles using the card or made purchases exceeding €1 million. TOSHIBA Satellite L775D-S7305 Laptop Keyboard

The card has no limit; the largest purchase supposedly ever made on it exceeded $52 million for a private jet by Victor Shvetsky.

Since the inception of the card, members have received a copy of Departures, which is also sent to all Platinum Card cardholders. HP G42-164LA Laptop Keyboard

However, in 2004, American Express Centurion members in the US began receiving an exclusive "no name" magazine, which was not available by any other means. Starting with the Spring 2007 edition, this magazine was officially titled Black Ink. The magazine is available only to individual Centurion cardholders, not to the business-edition customers.  HP G42-415DX Laptop Keyboard

European, Asian, and Australian Centurion members receive quarterly the Centurion magazine, published by Journal International GmbH (Munich, Germany). In June 2011, the Centurion Magazine website was launched, offering daily updates for Centurion Card members.  DELL Vostro 3450 Laptop Keyboard

According to Journal International, the average age of a Centurion reader from Europe or the Middle East is 49 years. Ninety-four percent of primary cardholders are male and they have an average of 3.3 properties. Their average household income is €653,000 and their average total net worth is €4.5million.  DELL FM8 Laptop Keyboard

They have an average disposable monthly income of €8,800. Centurion has been published since 2001 and has a circulation in Europe and the Middle East of 44,100, in Asia of 13,900, and in Australia of 6,000.

The American Express Red is an American Express credit card that was launched in the United Kingdom in March 2006. TOSHIBA Mini NB 505-SP0160 Laptop Keyboard

Applicants had to be UK residents, but as of August 2011, all applications for new cards are closed. The card is part of the Product Red initiative.

The principle of the card is that every time money is spent with it, 1% of the amount is sent to a fund called Global Fund, created in 2002 to fight againstAIDS, tuberculosis, and malaria. DELL Vostro PP37L laptop keyboard

When the yearly spending amount exceeds £5000 a year, this percentage is increased to 1.25%.

In the UK, the card was advertised by celebrities such as Bono, Gisele Bündchen and Elle Macpherson. The American Express Red card is mentioned in the songs "The Way I Are" by Timbaland and "She Mine" by Bow Wow. Compaq Presario CQ56-110SE laptop keyboard, Compaq Presario CQ56-102SE laptop keyboard,HP 9J.NOL82.W01 laptop keyboard

In the final episode of  The Dukes of Hazzard

In the final episode of The Dukes of Hazzard, Boss Hogg is shot at by a former associate, the bullet striking a wallet he had kept in his pocket and being lodged in several credit cards. ASUS X53S laptop keyboard

  • Narrator Waylon Jennings takes note of the situation and says, "I bet he's glad he didn't leave home without them" (referring to his credit cards).

On the 1997 film Hercules during the song "Zero to Hero", the credit card is "Grecian Express". HP G71-445US laptop keyboard

The 1989 movie Major League also parodied the campaign. In one scene, in which every player is dressed in a tuxedo, the Cleveland Indians tell viewers of the film why every player carries the American Express Card with much of the explanation done one line at a time by players Jake Taylor (Tom Berenger), Lenovo 3000 G530 4151 laptop keyboard

Eddie Harris (Chelcie Ross), Rick "Wild Thing" Vaughn (Charlie Sheen), Pedro Cerrano (Dennis Haysbert), and Roger Dorn (Corbin Bernsen), and Manager Lou Brown (James Gammon). The scene ends with Willie "Mays" Hayes (a tuxedo-clad Wesley Snipes) sliding into home plate in front of the rest of the team, holding up his card and saying to the viewers: "The American Express Card. Don't steal home without it." SONY VAIO VGN-CS110D/W laptop keyboard

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  • In Batman & Robin Batman pulls out a Bat-Credit card and says he never leaves the cave without it.

Yakov Smirnoff's book cover, America on Six Rubles a Day ISBN 978-0-394-75523-6 depicts a Russian card with the slogan "Don't leave home."  ACER Aspire 5610Z Laptop Keyboard

American Express continues to use celebrities in their ads. Some notable examples include a late 1990s ad campaign with comedianJerry Seinfeld, including the two 2004 webisodes in a series entitled "The Adventures of Seinfeld & Superman." In late 2004, American Express launched the "My life. My card." COMPAQ Presario CQ60-201EP Laptop Keyboard

brand campaign (also by Ogilvy & Mather) featuring famous American Express cardmembers talking about their lives. The ads have featured actors Kate Winslet, Robert De Niro, Ken Watanabe and Tina Fey,Duke University basketball coach Mike Krzyzewski, fashion designer Collette Dinnigan, SONY Vaio PCG-K23 Laptop Keyboard

comedian and talk show hostess Ellen DeGeneres, golfer Tiger Woods, professional snowboarder Shaun White, tennis pros Venus Williams and Andy Roddick, Real Madrid manager José Mourinho, and film directors Martin Scorsese, Wes Anderson, M. Night Shyamalan and most recently singer Beyoncé Knowles. SONY 147664712 Laptop Keyboard

In 2007, a two-minute black-and-white ad entitled "Animals" starring Ellen DeGeneres won the Emmy Award for Outstanding Commercial.

Many American Express credit card ads feature a sample American Express Card with the name "C F Frost" on the front. This is not a fabricated name, as Charles F. Frost was an advertising executive from Ogilvy & Mather.[48] SONY Vaio PCG-K215S Laptop Keyboard

In addition, American Express was one of the earliest users of cause marketing, to great success.[49] A 1983 promotion advertised that for each purchase made with an American Express Card, American Express would contribute one penny to the renovation of the Statue of Liberty. The campaign generated contributions of $1.7 million to the Statue of Liberty restoration project. TOSHIBA Satellite L775D-S7226 Laptop Keyboard

What would soon capture the attention of marketing departments of major corporations was that the promotion generated approximately a 28% increase in American Express card usage by consumers. Building on its earlier promotion, American Express later conducted a four-year Charge Against Hunger program, which generated approximately $22 million for a charity addressing poverty and hunger relief.  HP G42-164LA Laptop Keyboard

In 2006, as part of Bono's Product Red, American Express launched the American Express Red Card with campaign starred by supermodel Gisele Bündchen. The card, currently available only in the United Kingdom, makes a donation to fight AIDS with every purchase made using the card. In May 2007, American Express launched an initiative called the Members Project.[50][51] Lenovo 04W0872 Laptop Keyboard

Cardholders were invited to submit ideas for projects and American Express is funding the winning (provide clean drinking water) project $2 million.

In April 1986 American Express moved its headquarters to the 51-story Three World Financial Center in New York City. HP Envy 15 Laptop Keyboard

After the events of September 11, 2001, American Express had to leave its headquarters temporarily as it was located directly opposite to the World Trade Center and was damaged during the fall of the towers. The company began gradually moving back into its rehabilitated building in 2002. GATEWAY NX570X Laptop Keyboard

The company also has major offices in Fort Lauderdale, FL; Salt Lake City, UT; and Phoenix, AZ. It has a technology center in Weston, FL. The main data center is located in Phoenix.

AMEX Bank of Canada was founded in 1853 in Toronto, however it currently has its headquarters of 3,000 employees in Markham, Ontario (a northern suburb of Toronto), as well as an office in Hamilton, Ontario. HP G61-336NR Laptop Keyboard

The company began operations as a bank on July 1, 1990 following an order-in-council made by the Brian Mulroney government on November 21, 1988. This decision was not without controversy as federal banking policy at the time would not ordinarily have permitted American Express to operate as a bank.[52] ASUS X53S Laptop Keyboard

It is also a member of the Canadian Bankers Association (CBA) and is a registered member of the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks.

American Express has several offices in the UK, including a 9-story European Service Center, HP Pavilion DV7-3065dx Laptop Keyboard

known as Amex House, in the Carlton Hillarea of Brighton, England. It is a large white tower block, built in 1977[53] and surrounded by several other smaller offices around the city. Amex House deals with card servicing, sales, fraud and merchant servicing. The official Europe, Middle East, and Africa HQ is located in the Belgravia district of Westminster, HP 519265-001 Laptop Keyboard

in central London, at Belgrave House on Buckingham Palace Road, SW1; other UK offices are based in Sussex at Burgess Hill. In November 2009, Brighton and Hove City Council granted planning permission for American Express to redevelop the Amex House site.  HP Compaq NW8440 Laptop Keyboard

It is anticipated, in line with the Council's plan for the Edward Street Quarter, that the existing Amex House will be demolished by 2016. More information on this development is available at edwardstreet.co.uk.[54]

The Japan, Asia-Pacific, and Australian Headquarters is co-located in Singapore, at 16 Collyer SONY VAIO VPCF126FM Laptop Keyboard

Quay, and in Sydney's King Street Wharfarea, with the new state-of-the-art building receiving greenhouse status due to the environmentally friendly workspace that it provides.

The headquarters of the Latin America and Caribbean division is in Miami.

American Express also has a significant presence in India. SONY VAIO VGN-N21E/W laptop keyboard

Its two centres are located at Gurgaon, Haryana and one at Mathura Road, New Delhi. The Indian operations of American Express revolves around the back office customer services operations apart from the credit card business for the domestic Indian Economy, arguably the American Express campus in Gurgaon is the largest employee location by head count forACER TravelMate 2403 Series laptop keyboard

Amex and supports business continuity objectives of Amex including during Hurricane Sandy, the center works 24/7 and includes a co-located second building which was recently transferred to a third party service provider but does much work for Amex.

For 2008, American Express was named the 62nd best company to work for in the United States by Fortune, ranking it number one for bank card companies.[55] DELL Vostro PP38L laptop keyboard

In October 2008, Amex Canada Inc. was named one of Greater Toronto's Top Employers by Mediacorp Canada Inc., which was announced by the Toronto Starnewspaper

Falmer Stadium, known for sponsorship purposes as the American Express Community Stadium, Lenovo Thinkpad X220 laptop keyboard

or simply The Amex, is a football stadium near the village of Falmer in Brighton and Hove and is the home of Brighton & Hove Albion F.C.. The stadium was handed over from the developers to the club on 31 May 2011. The first competitive game to be played at the stadium was the 2010–11 season final of the Sussex Senior Cup between Brighton and Eastbourne Borough on 16 July 2011.[2] Compaq Presario CQ42-173TU laptop keyboard

 The first ever league game was against Doncaster Rovers, who were also the opponents in the last ever game played at Brighton's former stadium, the Goldstone Ground, 14 years earlier.

In May 2013 it was announced that on the 19th and 20th of September 2015 the stadium will host games of the 2015 Rugby World Cup. HP Pavilion dv6-2124eo laptop keyboard

The plans were initiated by Brighton & Hove Albion after the club's previous home, the Goldstone Ground, was sold by the club's former board (consisting of Greg Stanley, Bill Archer and David Bellotti) to developers in 1995 with no new home arranged.

When the club was evicted at the end of the 1996–1997 season, it ground-shared for two seasons at Gillingham’sPriestfield Stadium, 75 miles away in Kent. TOSHIBA Satellite P305-S8906 laptop keyboard

Two years later, the club returned to Brighton as tenants of Withdean Stadium, which was upgraded to Football League capacity requirements and later expanded when Brighton reached Division One (now the Football League Championship) in 2002 following two successive promotions. GATEWAY NX570X laptop keyboard

The site at Falmer was identified during the 1998–99 season and it was hoped that the stadium would be ready in the early to mid-2000s. However, subsequent delays in gaining planning permission meant that the club would have to wait until August 2011 before being able to play their home games there – more than a decade after the stadium was first proposed. HP Pavilion dv5-1044ca laptop keyboard

The stadium is also being considered for becoming a major music venue. On June 1 and June 2, 2012, Brighton DJ Fatboy Slim played two nights at the venue. The success of these shows may lead to the stadium becoming a regular music venue.

Planning permission was given by the unitary authority of Brighton and Hove in June 2002, with the intention of the stadium being ready for the 2005–06 season.[4]  HP Pavilion dv5-1050ed laptop keyboard

The plans for the stadium were fought by neighbouring Lewes District Council and local residents. While the stadium lies completely within Brighton and Hove, the once vacant field to the north-east of the site is in Lewes. Bennet's field as it is known is now used for parking. Lenovo 3000 G430 4153 laptop keyboard

Further complications were due to both vacant fields, and the campus of the adjacent University of Sussex, being included in the South Downs Area of Outstanding Natural Beauty, although outside the National Park. This led to the designation of the stadium plans being the subject of a separate planning inquiry by theOffice of the Deputy Prime Minister.  SONY VAIO VGN-CR23G laptop keyboard

John Prescott, then Deputy Prime Minister, approved the plans on 28 October 2005. However, Lewes District Council immediately mounted a new legal challenge to the stadium plan. In April 2006, Prescott admitted that he had given his approval based on the misconception that only a small part of the stadium site lay on the Lewes side, and withdrew it. HP Pavilion G6-1B87CL laptop keyboard

Hazel Blears, the Secretary of State responsible for planning, re-affirmed the approval on 25 July 2007. Her decision went against the advice of planning inspectors. Lewes district council, Falmer Parish council and the South Downs Joint Committee (the three main opponents) announced shortly afterwards that they would not mount a high court challenge. HP Mini 110-3004tu laptop keyboard

On 4 September 2007, the deadline for appealing the new grant of permission expired and the club received full permission to proceed.

On 27 November 2008 the Buckingham Group signed the construction contract for the new stadium[5] and began preparation work on the site on 17 December. HP Pavilion dv6-2150es laptop keyboard

The stadium is set three storeys down into the ground. 138,000 cubic metres of chalk was excavated for its construction, which was put on the field on the south side of Village Way. This has been estimated to prevent 20,000 lorry trips taking the chalk to landfill.[6]

Construction at the site officially started on 17 December 2008 and finished in May 2011. SONY 148084122 Laptop Keyboard

The stadium was designed with scope for expansion, and plans were put in place to increase the capacity.

The stadium was designed by London-based Architects, KSS.[7] The stadium capacity has been expanded, with an extra seating tier being installed above the East Stand (Family stand), which increases the stadium attendance to a total of about 30,000 seats. TOSHIBA Mini NB 505-SP0160 Laptop Keyboard

The deal with American Express Europe, Brighton and Hove's biggest private-sector employer, confirming the naming rights of the stadium was announced on 22 June 2010.

The stadium officially opened on 30 July 2011, hosting a friendly match against manager Gus Poyet's old club Tottenham Hotspur, the home-side narrowly losing 3-2. SONY VAIO VGN-CR520E Laptop Keyboard

The first competitive match was held on 6 August 2011, when Brighton beatDoncaster Rovers 2–1, after being 1–0 down.[9]

The stadium set its first record attendance with 21,897 against Liverpool. They were also the first away team to win a competitive match at the stadium, beating Brighton 2–1 in a League Cup tie in September 2011.[10] ACER Aspire 5610Z Laptop Keyboard

The stadium however witnessed it first ever league defeat in its history when fierce rivals Crystal Palace came from behind to win 3-1.[11]

On 2 January 2012, Brighton & Hove Albion submitted an application to Brighton and Hove City council to increase the stadium capacity by a further 8,000 seats as well as to add additional corporate boxes, new television facilities and a luxury suite.[12] TOSHIBA Satellite A110 Series Laptop Keyboard

 This was granted unanimously by Brighton & Hove City Council's Planning Committee on 25 April 2012. The stadium was expanded to 27,250 by the start of the 2012-13 season, 27,750 by December 2012 and will stand at 30,250 by the start of the 2013-14 season.

A new record attendance was set on 15 December 2012 when 26,684 saw Brighton draw 0–0 with Nottingham Forest.[13] HP Pavilion dv5-1104tu Laptop Keyboard

This record attendance was broken on 26 January 2013, when 27,113 attended a 3-2 defeat against Arsenal in the fourth round of the FA Cup [14][15] Less than two months later and the record was broken again; this time 28,499 people watched Brighton beat Crystal Palace 3-0 on 17 March 2013.[16]

 This record was broken once again on 4 May 2013, on the last league game of the season against Wolverhampton Wanderers, 30,003 attended the game.

The West Stand is the largest three-tiered stand, which holds 11,833 fans, including 14 luxury boxes and the premium fans' 1901 Club. HP Envy 15 Laptop Keyboard

The East Stand (including the Family Stand) holds 5,404 fans, with 10% reserved for away fans during cup games. The North Stand has 2,688 seats. The South Stand, is for visiting away supporters which contains 2,575 seats.

As well as football matches, the stadium is also designed for other sports such as rugby and hockey, and music concerts, conferences and exhibitions.[17] HP 640892-001 Laptop Keyboard

 The stadium's drinking outlets offer real ales from two local breweries, Harveys and Dark Star, both organisations having supported the club's appeal for a new stadium at Falmer, along with special guest beers from breweries local to the away teams.[18]

The stadium also incorporates a banqueting and conference facility, a nursery school/crèche, HP G56-118CA Laptop Keyboard

720 square metres of teaching space for the University of Brighton, 1,200 square metres of office space, the club shop for tickets and merchandise and above it the 200 capacity bar/lounge named Dick's Bar after the club's life president, Dick Knight.

The stadium is close to the A27 Brighton by-pass,[19] TOSHIBA Satellite L550-ST5701 Laptop Keyboard

 linking it northbound to the A23 and M23 motorway towards London and southbound to the A270 and the city centre. There is pre-paid parking available for 2000 cars on the University of Sussex and the Falmer Academy sites. The club runs several park and ride services to the stadium. One of these is at Mill Road situated at the A23/A27 intersection, which holds 500 cars. Compaq Presario CQ42-228LA Laptop Keyboard

Another is at Brighton Racecourse, holding approx. 700 cars. The third site is at Mithras House (Brighton University) on the Lewes Road, holding approx 300 cars. Match tickets come with travel vouchers valid for train, bus, and park and ride. The stadium is served by Falmer railway station which is a nine-minute journey from Brighton railway station and seven minutes from Lewes railway station, both of which are served by trains from London. HP 488590-001 Laptop Keyboard

The Wealden Line Campaign promotes the creation of direct rail services from London via a "Brighton Main Line 2" (BML2). This would mean supporters could reach Falmer without the need to change trains at Lewes station or Brighton's busy main terminus.

The site also includes: a new link road from the A270 through the southern edge of Stanmer Park to the Sussex campus; a new high capacity footbridge over the railway at Falmer station; HP 519265-001 Laptop Keyboard

a transport interchange/coach park to the south of the stadium across Village Way; a 1,000-space car park at Falmer High School; alterations to the A27/A270 road junction, including a new flyover; a combined footpath/cycleway; a 150-space car park for club officials, players and disabled drivers; 220 cycle spaces.  HP AEUT3U00140 Laptop Keyboard

Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named forEdward Shearson[1][2] and the firm he founded, Shearson Hammill & Co. Among Shearson's most notable incarnations were Shearson / American Express, Shearson Lehman / American Express, Shearson Lehman Brothers, Shearson Lehman Hutton and finally Smith Barney Shearson. TOSHIBA Mini NB 505-SP0160 Laptop Keyboard

For its first eight decades, the firm operated independently and merged with a number of Wall Street's most venerable securities firms including Hayden Stone & Co. and Loeb Rhoades & Co.. In 1981, Shearson was acquired by American Expressand operated as a subsidiary of the financial services company before being merged with Lehman Brothers Kuhn Loeb in 1984 and E.F. Hutton & Co. in 1988.  Lenovo ThinkPad Edge E520 Laptop Keyboard

In 1993, Shearson was sold to Primerica, the predecessor of Citigroup, and merged with its retail brokerage business,Smith Barney to create Smith Barney Shearson'. The Shearson name was discontinued in 1994.

Shearson Lehman Hutton was the result of the combination of a number of venerable Wall Street firms over a 25 year period beginning in the early 1960s that included Lehman Brothers, TOSHIBA Satellite L505-S5984 Laptop Keyboard

Kuhn Loeb, E.F. Hutton, Hayden Stone & Co., Shearson, Hammill & Co., Loeb, Rhoades & Co., Hornblower & Company and Cogan, Berlind, Weill & Levitt, which ultimately came together under the ownership of American Express.

The Shearson name traces its origins to the formation of Shearson, Hammill & Co. a Wall SAMSUNG R522 Laptop Keyboard

Street brokerage and investment banking firm founded in 1902 by Edward Shearson and Caleb Wild Hammill.[4] The firm originally built its business as a stock broker as well as a broker of various commodities, particularly grain and cotton. The firm was a member of the New York Stock Exchange, the Chicago Stock Exchange and the Chicago Mercantile Exchange.[5] HP 597635-001 Laptop Keyboard

Before forming the firm, Shearson had served as comptroller of U.S. Steel and of Federal Steel Company before that. Shearson, who was raised in Ontario, Canada began his career as an auditor for the Wisconsin Central Railroad before taking a position in the steel industry in 1898. Shearson was an active member of New York society.[1]  ACER TravelMate 4150 Series Laptop Keyboard

Hammill, who was raised in Albion, Michigan, moved first to Chicago and subsequently to New York in 1890.

In late 2012, American Express and Walmart

In late 2012, American Express and Walmart announced the launch of Bluebird, a prepaid debit card similar to that of Green Dot.[27] TOSHIBA Satellite M645-SP6001L laptop keyboard

 Bluebird is being touted as having lower fees than other prepaid debit cards with some of the benefits of traditional American Express cards, such as roadside assistance and identity theftprotection. The card can also be used as a substitute to a traditional checking account. Unlike other such cards, Bluebird is FDIC-insured.TOSHIBA MP-06863US-9308 Laptop Keyboard

FDIC backing means Bluebird accounts now have deposit insurance, check writing capabilities and customers can now have Social Security checks, military pay and other government benefits deposited directly into their accounts.

The company mascot, the Roman Gladiator or Centurion, appears at the center of the iconic Zync, Green, Gold, Platinum, and Centurion cards. Lenovo 63Y0047 Laptop Keyboard

The figure and his pose evoke classical antiquity. These cards also feature intricate border and background designs that read "American Express." The unique designs on these cards, especially the Green card, bear resemblance to those on United States Federal Reserve Notes, and enhance the image of the cardholder as an affluent andconspicuous consumer. HP 608558-001 Laptop Keyboard

In 2005, American Express introduced ExpressPay, similar to MasterCard PayPass and Visa payWave. It is a contactless payment system based on wireless RFID, where transactions are completed by holding the credit card near a receiver at which point the debt is immediately added to the account. DELL 454RX Laptop Keyboard

The card is not swiped and no PIN is entered. Many U.S. merchant and restaurant partners now offer ExpressPay, including Meijer, CVS/Pharmacy, Best Buy, Chevron Corporation, Noah's Bagels, and some McDonald's locations. Office Depot has implemented ExpressPay in all 1200 of its stores. ACER MP-04653U4-698 Laptop Keyboard

American Express offers various types of charge cards for small businesses to manage their expenses, and the company is also the largest provider of corporate cards.

In late 2007, the company announced the new Plum Card as the latest addition to their card line for small business owners.[30] DELL Latitude D620 Laptop Keyboard

The card provides a 1.5% early pay discount or up to two months to defer payment on purchases. The 1.5% discount is available for billing periods where the cardmember spends at least $5,000. The first 10,000 cards were issued to members on December 16, 2007.[31] GATEWAY NV-54 Laptop Keyboard

In 2008, American Express made a decision to close all Business Line of Credit accounts. This decision was reached in tandem with the Federal Reserve's approval of American Express's request to become a Commercial Bank.

American Express also offers a comprehensive range of cards designed to support mid-sized and large companies manage their travel and day-to-day operational expenses. HP Pavilion G6-1B59WM Laptop Keyboard

The core product, the American Express Corporate Card is offered in over 40 countries, and a number of complementary products for specific types of spending are offered for special needs. Examples of these products include the Corporate Meeting Card, the Corporate Purchasing Card, HP Mini 110-1150LA Laptop Keyboard

and the Business Travel Account. Commercial Cards differ from Business Cards as they enable company liability (business cards are issued as extensions of credit to the company's owner). In addition, Commercial Cards offer a comprehensive suite of data and reporting solutions that help clients gain visibility and control over employee expenditures.  TOSHIBA 9J.N7482.901 Laptop Keyboard

As part of supporting Corporate clients, American Express offers a number of online solutions delivered through the American Express @ Work website. From American Express @ Work, clients have access to program management capabilities, online statements, reporting and data integration products. Compaq Presario CQ42-228LA Laptop Keyboard

Information @ Work, a reporting tool targeted at mid-size companies to give them quick and easy access to their employees' spend data; Customized Reporting is provided to larger clients who require more advanced analytics and data consolidation capabilities. American Express also provides data files to clients to power expense reporting and reconciliation tools. HP Pavilion dm1-1010st Laptop Keyboard

In 2008, American Express acquired the Corporate Payment Services business of GE, which primarily focused on providing Purchasing Card solutions for large global clients.[32] As part of the $1b+ transaction, American Express also added a new product, called V-Payment, to its product portfolio. DELL 454RX Laptop Keyboard

V-Payment is unique in that it enables a tightly controlled, single-use card number for increased control.In December 2000, American Express agreed to acquire the US$226 million credit card portfolio of Bank of Hawaii, then a division of Pacific Century Financial Corp.[33] In January 2006, American Express sold its Bank of Hawaii card portfolio to Bank of America (MBNA). SAMSUNG R522 Laptop Keyboard

Bank of America will issue Visa and American Express cards under the Bank of Hawaii name.

Until 2004, Visa and MasterCard rules prohibited issuers of their cards from issuing American Express cards in the United States. This meant, as a practical matter, that U.S. banks could not issue American Express cards.  Compaq Presario CQ57 Series Laptop Keyboard

These rules were struck down as a result of antitrust litigation brought by the U.S. Department of Justice, and are no longer in effect.[34] In January 2004, American Express reached a deal to have its cards issued by a U.S. bank, MBNA America.[35]Initially decried by MasterCard executives as nothing but an "experiment", these cards were released in October 2004.[36] TOSHIBA Satellite L755D-SP5165RM Laptop Keyboard

Some said that the relationship was going to be threatened by MBNA's merger with Bank of America, a major Visa issuer and original developer of Visa (and its predecessor, BankAmericard). However, an agreement was reached between American Express and Bank of America on December 21, 2005.[37] SAMSUNG NP-Q320-FS01UK Laptop Keyboard

Under the terms of the agreement, Bank of America will own the customer loans and American Express will process the transactions. Also, American Express will dismiss Bank of America from its antitrust litigation against Visa, MasterCard, and a number of U.S. banks. TOSHIBA Qosmio F20 Series Laptop Keyboard

Finally, both Bank of America and American Express also said an existing card-issuing partnership between MBNA and American Express will continue after the Bank of America-MBNA merger. The first card from the partnership, the no-annual-fee Bank of America Rewards American Express card, was released on June 30, 2006. SONY VAIO PCG-F20 Laptop Keyboard

Since then, Citibank, GE Money, and USAA have also started issuing American Express cards. Citibank currently issues several American Express cards including anAmerican Airlines AAdvantage co-branded card.[37] In January 2006[38] Amex issued Dillard's American Express card in joint cooperation with GE Money, however, in Mar 2008[39]  HP G42-364LA Laptop Keyboard

GE sold its card unit to Amex for $1.1bn in cash only deal.[32] HSBC Bank USA is currently testing both HSBC-branded and Neiman Marcus co-branded American Express rewards credit cards, with a full rollout scheduled for late 2007 or early 2008. Also, UBS launched its Resource Card program for  HP AESP7U00110 Laptop Keyboard

US Wealth Management clients issuing Visa Signature credit cards and American Express charge cards linked to their customers accounts and employing a single rewards program for the two cards. Fidelity operates a similar program, issuing both American Express and Visa Signature cards through FIA Card Services. HP G61-425ES Laptop Keyboard

Amex is the largest provider of traveler's checks in the world.

In 2005, American Express released the American Express Travelers Check Card, a stored-value card that serves the same purposes as a traveler's check, but can be used in stores like a credit card. HP 640436-001 Laptop Keyboard

The card has since been discontinued as of October 31, 2007, due to "changing market conditions". All cardholders were issued refund checks for the remaining balances.

During the 1980s, American Express began purchasing stock brokerage firms as part of an expansion. Lenovo 3000 N200 Laptop Keyboard

In mid-1981 it purchased Sanford I. Weill's Shearson Loeb Rhoades, the second largest securities firm in the United States to form Shearson/American Express. Shearson Loeb Rhoades, itself was the culmination of several mergers in the 1970s as Weill's Hayden, Stone & Co. merged with Shearson, Hammill & Co. in 1974 to form Shearson Hayden Stone.  DELL XPS 15 L502X Laptop Keyboard

Shearson Hayden Stone then merged with Loeb, Rhoades, Hornblower & Co. (formerly Loeb, Rhoades & Co. to form Shearson Loeb Rhoades in 1979. With capital totalling $250 million at the time of its acquisition, Shearson Loeb Rhoades trailed only Merrill Lynch as the securities industry's largest brokerage firm. IBM Lenovo ThinkPad R51 1833 Laptop Keyboard

After its acquisition by American Express, the firm was renamed Shearson/American Express.

In 1984 Shearson/American Express purchased the 90-year-old Investors Diversified Services, bringing with it a fleet of financial advisors and investment products. Also in 1984, American Express acquired the investment banking and trading firm, Lehman Brothers Kuhn Loeb, HP G62-a20EJ Laptop Keyboard

and added it to the Shearson family, creating Shearson Lehman/American Express. In 1988, the firm acquired E. F. Hutton & Co., forming Shearson Lehman Hutton until 1990, when the firm's name became Shearson Lehman Brothers. When Harvey Golub took the reins in 1993 he negotiated the sale of Shearson's retail brokerage and asset management business to  ACER Aspire 5742 Laptop Keyboard

Primerica and in following year, spun off of the remaining investment banking and institutional businesses as Lehman Brothers Holdings Inc.

On September 30, 2005, American Express spun off its American Express Financial Advisors unit as a publicly traded company, Ameriprise Financial, Inc..[41] HP Pavilion DV7-3186cl laptop keyboard

 Due to this, American Express revenues for 2005 are down around $5 billion, however, like-for-like they are up 10.5% in 2005. Also, on September 30, 2005, RSM McGladrey acquired American Express Tax & Business Services (TBS).[41]

On September 18, 2007, Standard Chartered Bank agreed to acquire American Express Bank Ltd, a commercial bank, SONY VAIO VGN-CR231E laptop keyboard

from American Express Co,[42] for an estimated US$823 million, through a friendly divestiture process.

American Express established a Travel Division in 1915 that tied together all of the earlier efforts at making travel easier, and soon established its firsttravel agencies. In the 1930s, the Travel Division had grown widely. HP Pavilion dv6-2115so laptop keyboard

Albert K. Dawson was instrumental in expanding business operations overseas, even investing in tourist relations with the Soviet Union. Dawson during World War I had been a photographer and film correspondent with the German army. Today the focus of The Travel Division is on business customers and business travel. HP Pavilion dv6-2141ee laptop keyboard

The American Express Publishing Corporation publishes the Travel + Leisure, Food & Wine, Executive Travel, and Departures magazines, as well as American Express Skyguide and is based in New York City.

In 1975, David Ogilvy of Ogilvy & Mather developed the highly successful HP Mini 210 laptop keyboard

Don't Leave Home Without Them ad campaign for American Express Traveler's Cheques, featuring Oscar-award-winning actor Karl Malden. Karl Malden served as the public face of American Express Travelers Cheques for 25 years. In the UK the spokesman was instead the television personality Alan Whicker. IBM Thinkpad R40 laptop keyboard

After Karl Malden's departure and as the card was promoted over the traveller's cheques, American Express continued to use celebrities, such as Mel Blanc and ballerina Cynthia Gregory. A typical ad for the American Express Card began with a celebrity asking viewers: "Do you know me?" DELL Inspiron 6000 laptop keyboard

Although he/she gave hints to his/her identity, the star's name was never mentioned except as imprinted on an American Express Card, after which announcer Peter Thomas told viewers how to apply for it. Each ad concluded with the celebrity reminding viewers: "Don't Leave Home Without It." HP Pavilion dv6-2124eo laptop keyboard

The "Don't Leave Home Without It" slogan was revived in 2005 for the prepaid American Express Travelers Cheque Card.

These slogans have been parodied numerous times:

In The Sopranos episode, "Mr. & Mrs. John Sacrimoni Request...", Christopher Moltisanti concludes his sale of stolen credit card numbers to Middle Easterners with a quip: HP Pavilion dv6-2173cl laptop keyboard

  • "Don't leave home without them!" This statement confuses the Middle Easterners, who are unfamiliar with the ad campaign.

The long-running PBS children's TV series Sesame Street parodied the "Do you know me?/Don't Leave Home Without It" ad campaigns with three skits involving aMuppet character holding a Grown-Up Friend's hand while crossing the street.  ASUS A9R laptop keyboard

One skit featured Forgetful Jones (performed by Richard Hunt) with Olivia (Alaina Reed Hall) as his Grown-Up Friend, a second featured Bert and Ernie (Frank Oz and Jim Henson respectively) with Gordon (Roscoe Orman) as their Grown-Up Friend, and the third featured Big Bird (Caroll Spinney) with Bob (Bob McGrath) as his Grown-Up Friend. Lenovo ThinkPad Edge E525 laptop keyboard

All three skits ended with their names being embossed at the bottom of a card looking like an American Express card that had a big human left hand in the middle with the words "Grown-Up Friend's Hand" above it, and a voiceover saying "A Grown-Up Friend's Hand. Don't cross the street without it." GATEWAY MX6956 laptop keyboard

Another parody was seen on an episode of the CBS game show Press Your Luck, when the animated "Whammy Character" would give the "Do you know me?" tag line, followed by the display of an AmEx card-parody, which then had "WHAMMY" typed in on the bottom line of the card. GATEWAY NX570X laptop keyboard

  • In the pilot episode of "Masquerade (TV series)", a KGB general says the line "I suppose you never leave home without it", to a KGB agent when he sees that agent's 'National American' card.

In a campaign speech during the 1984 Election, President Ronald Reagan said "If the big spenders get their way, IBM Thinkpad Z60m laptop keyboard

  • they'll charge everything to your taxpayer's express card, and believe me, they never leave home without it."

American Express Company

American Express Company, also known as AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average.  Compaq Presario CQ42-228LA Laptop Keyboard

The company is best known for its credit card,charge card, and traveler's cheque businesses. Amex cards account for approximately 24% of the total dollar volume of credit card transactions in the US.[5][6]

BusinessWeek and Interbrand ranked American Express as the 22nd most valuable brand in the world, estimating the brand to be worth US$14.97 billion.[7]  DELL Precision M4500 Laptop Keyboard

Fortune listed Amex as one of the top 20 Most Admired Companies in the World.[8]

The company's logo, adopted in 1958, is a Roman gladiator[9] whose image appears on the company's travelers' chequesand charge cards.

American Express was started as an express mail business in Buffalo, New York, in 1850.[10] DELL Latitude D620 Laptop Keyboard

 It was founded as a joint stock corporation by the merger of the express companies owned by Henry Wells (Wells & Company), William G. Fargo (Livingston, Fargo & Company), and John Warren Butterfield (Wells, Butterfield & Company, the successor earlier in 1850 of Butterfield, Wasson & Company).[1][2] HP Pavilion dv5-1104tu Laptop Keyboard

The same founders also started Wells Fargo & Co. in 1852 when Butterfield and other directors objected to the proposal that American Express extend its operations to California.

American Express first established its headquarters in a building at the intersection of Jay Street and Hudson Street in what was later called the Tribeca section of Manhattan.  DELL 454RX Laptop Keyboard

For years it enjoyed a virtual monopoly on the movement of express shipments (goods, securities, currency, etc.) throughout New York State. In 1874, American Express moved its headquarters to 65 Broadway in what was becoming the Financial District of Manhattan, a location it was to retain through two buildings.  TOSHIBA PK130260100 Laptop Keyboard

In 1854, the American Express Co. purchased a lot on Vesey Street in New York City as the site for its stables. The company's first New York headquarters were in an impressive[..marble Italianate palazzo at 55–61 Hudson Street between Thomas Street and Jay Street (1857–58, John Warren Ritch), which had a busy freight depot on the ground story with a spur line from the Hudson River Railroad. SONY VAIO VGN-N11S laptop keyboard

A stable was constructed nearby at 4–8 Hubert Street, between Hudson Street and Collister Street (1866–67, Ritch & Griffiths), five blocks north of the Hudson Street building.

The company prospered sufficiently that headquarters were moved in 1874 from the wholesale shipping district to the budding Financial District, SONY VAIO VGN-FS215Z laptop keyboard

and into rented offices in two five-story brownstone commercial buildings at 63 and 65 Broadway, between Exchange Alley and Rector Street, and between Broadway and Trinity Place that were owned by the Harmony family.[12]

In 1880, American Express built a new warehouse behind the Broadway Building at 46 Trinity Place, between Exchange Alley and Rector Street. HP Pavilion dv5-1120ez laptop keyboard

The designer is unknown, but it has a façade of brick arches that are redolent of pre-skyscraper New York. American Express has long been out of this building, but it still bears a terracotta seal with the American Express Eagle.[13] In 1890–91 the company constructed a new ten-story building by Edward H. Kendall on the site of its former headquarters on Hudson Street. HP Pavilion DV7-3067cl laptop keyboard

By 1903, the company had assets of some $28 million, second only to the National City Bank of New York among financial institutions in the city.]To reflect this, the company purchased the Broadway buildings and site.

At the end of the Wells-Fargo reign in 1914, an aggressive new president, George Chadbourne . ASUS M70 laptop keyboard

Taylor (1868–1923), who had worked his way up through the company over the previous thirty years, decided to build a new headquarters. The old buildings, dubbed by the New York Times as "among the ancient landmarks" of lower Broadway, were inadequate for such a rapidly expanding concern. In March 1914, Renwick, HP Pavilion DV6-1110eg laptop keyboard

Aspinwall & Tucker filed for the construction of a 32-story concrete-and steel-framed office tower in which all of the company's operations, then in four separate buildings, were to be consolidated. The building proposal of 1914 was abandoned, probably due to the war in Europe, but was resurrected two years later in a reduced form, at an estimated cost of $1 million. IBM ThinkPad T42 laptop keyboard

The 21-story (plus basement), neo-classical, American Express Co. Building, was constructed in 1916–17 to the design ofJames L. Aspinwall, of the firm of Renwick, Aspinwall & Tucker, the successor to the architectural practice of the eminentJames Renwick, Jr.. The building consolidated the two lots of the former buildings with a single address: 65 Broadway.  Lenovo 3000 Y500 laptop keyboard

This building was part of the "Express Row" section of lower Broadway at the time. The concrete-and-steel-framed building has an H-shaped plan with tall slender wings arranged around central light courts, a type of plan employed from the 1880s through the 1910s to provide offices with maximum light and air. ASUS X88S laptop keyboard

Faced in white brick and terra cotta above a granite base, both facades employ the tripartite composition of base-shaft-capital then popular for the articulation of skyscrapers, with a colonnaded base and upper portion. The famous American Express Eagle adorns the building twice: there is an asymmetric eagle on the lower arch, while a symmetric eagle adorns the arch atop the building.  Lenovo 04W2236 laptop keyboard

The Broadway entrance features a double-story Corinthian colonnade with large arched windows. The building completed the continuous masonry wall of its block-front poda nae and assisted in transforming Broadway into the "canyon" of neo-classical masonry office towers familiar to this day[14]  Lenovo 04W0872 laptop keyboard

American Express sold this building in 1975, but retained travel services here. The building was also the headquarters over the years of other prominent firms, including investment bankers J.& W. Seligman & Co. (1940–74), the American Bureau of Shipping, a maritime concern (1977–86), and currently J.J. Kenny, and Standard & Poor's, who has renamed the building for itself. TOSHIBA Satellite L750-ST4N02 laptop keyboard

American Express extended its reach nationwide by arranging affiliations with other express companies (including Wells Fargo – the replacement for the two former companies that merged to form American Express), railroads, and steamship companies. Acer eMachines E640 laptop keyboard

In 1882, American Express started its expansion in the area of financial services by launching a money order business[11] to compete with the United States Post Office's money orders.

Sometime between 1888 and 1890, J. C. Fargo took a trip to Europe and returned frustrated and infuriated. Despite the fact that he was president of American Express and that he carried with him traditional letters of credit,  TOSHIBA K000009780 laptop keyboard

he found it difficult to obtain cash anywhere except in major cities. Fargo went toMarcellus Flemming Berry and asked him to create a better solution than the traditional letter of credit. Berry introduced the American Express Traveler's Cheque which was launched in 1891 in denominations of $10, $20, $50, and $100.[15] HP G56 laptop keyboard

Traveler's cheques established American Express as a truly international company. In 1914, at the outbreak of World War I, American Express offices in Europe were among the few companies to honor the letters of credit (issued by various banks) held by Americans in Europe, despite other financial institutions having refused to assist these stranded travelers. HP Mini 210-1073TU laptop keyboard

American Express became one of the monopolies that President Theodore Roosevelt had the Interstate Commerce Commission investigate during his administration. The interest of the ICC was drawn to its strict control of the railroad express business. However, the solution did not come immediately to hand.[11] IBM Lenovo ThinkPad X300 6478 laptop keyboard

The solution to this problem came as a coincidence to other problems during World War I.

During the winter of 1917, the US suffered a severe coal shortage and on December 26 President Woodrow Wilson commandeered the railroads on behalf of the US government to move US troops, their supplies, and coal. Compaq 6720s Laptop Keyboard

Treasury Secretary William Gibbs McAdoo was assigned the task of consolidating the railway lines for thewar effort. All contracts between express companies and railroads were nullified and McAdoo proposed that all existing express companies be consolidated into a single company to serve the country's needs. GATEWAY MT6730 Laptop Keyboard

This ended American Express's express business, and removed them from the ICC’s interest. The result was that a new company called the American Railway Express Agency formed in July 1918. The new entity took custody of all the pooled equipment and property of existing express companies (the largest share of which, 40%, came from American Express, who had owned the rights to the express business over 71,280 miles (114,710 km) of railroad lines, and had 10,000 offices, with over 30,000 employees). HP Mini 210-2004sa Laptop Keyboard

During the 1980s, American Express embarked on an effort to become a financial services supercompany and made a number of acquisitions to create an investment banking arm. In mid-1981 it purchased Sanford I. Weill's Shearson Loeb Rhoades, the second largest securities firm in the United States to formShearson/American Express. Lenovo ThinkPad Edge E520 Laptop Keyboard

After the purchase of Shearson, Weill was given the position of president of American Express in 1983. Weill grew increasingly unhappy with responsibilities within American Express and his conflicts with American Express' CEO James D. Robinson III. Weill soon realized that he was not positioned to be named CEO and left in August 1985.  ASUS M70 Laptop Keyboard

In 1984, American Express acquired the investment banking and trading firm, Lehman Brothers Kuhn Loeb, and added it to the Shearson family, creating Shearson Lehman/American Express. It was Lehman's CEO and former trader Lewis Glucksman who would next lead Shearson Lehman/American Express.  IBM Thinkpad R61i Laptop Keyboard

In 1984 Shearson/American Express purchased the 90-year-old Investors Diversified Services, bringing with it a fleet of financial advisors and investment products. In 1988, Shearson Lehman acquired E.F. Hutton & Co., a brokerage firm founded in 1904, this was merged with the investment banking business and the investment banking arm was renamed Shearson Lehman Hutton, Inc.[16] Lenovo 3000 Y500 Laptop Keyboard

However, when Harvey Golub became CEO of American Express in 1993, American Express decided to get out of the investment banking business and negotiated the sale of Shearson's retail brokerage and asset management business to Primerica. The Shearson business was merged with Primerica's Smith Barney to create Smith Barney Shearson.  Lenovo 0A62039 Laptop Keyboard

Ultimately, the Shearson name was dropped in 1994.[17]

In 1994, American Express spun off of the remaining investment banking and institutional businesses as Lehman Brothers Holdings Inc which after almost fifteen years of independence would file for bankruptcy protection in 2008 as part of the Late-2000s financial crisis. ASUS X88S Laptop Keyboard

Current CEO Ken I. Chenault took over leadership of American Express in 2001 from Harvey Golub, CEO from 1993 to 2001. Prior to that, the company was headed byJames D. Robinson III from 1977 to 1993.

American Express executives discussed the possibility of launching a travel charge card as early as 1946,  Lenovo 63Y0047 Laptop Keyboard

but it was not untilDiners Club launched their card in March 1950 that American Express began to seriously consider the possibility. At the end of 1957, American Express CEO Ralph Reed decided to get into the card business, and by the launch date of October 1, 1958 public interest had become so significant that they issued 250,000 cards prior to the official launch date.  Lenovo 04W0872 Laptop Keyboard

The card was launched with an annual fee of $6, $1 higher than Diners Club, to be seen as a premium product. The first cards were paper, with the account number and cardmember's name typed. It was not until 1959 that American Express began issuing embossed ISO/IEC 7810 plastic cards, an industry first. Lenovo 63Y0047 Laptop Keyboard

In 1966, American Express introduced the Gold Card and in 1984 the Platinum Card, clearly defining different market segmentswithin its own business, a practice that has proliferated across a broad array of industries. The Platinum Card was billed as super-exclusive and had a $250 annual fee (it is currently $450). HP G62-225NR Laptop Keyboard

It was offered by invitation only to American Express customers with at least 2 years of tenure, significant spending, and excellent payment history; it is now open to applications on request.

In 1987, American Express introduced the Optima card, their first credit card product. Previously, all American Express cards had to be paid in full each month,  HP 519265-001 Laptop Keyboard

but Optima allowed customers to carry a balance (the charge cards also now allow extended payment options on qualifying charges based on credit availability). Although American Express no longer accepts applications for the Optima brand of cards, since July 13, 2009, Optima cards are still listed on the American Express website, as a reference to existing members only.  IBM Lenovo Thinkpad X201 Laptop Keyboard

According to American Express, Optima accounts were not converted or closed. However, Blue from American Express has prevailed as the replacement for the original Optima style of credit card. Blue includes multiple benefits free of charge, unlike Optima, including the Membership Rewards program. HP COMPAQ NX6325 Laptop Keyboard

In October 2012, The Consumer Financial Protection Bureau (CFPB) announced an enforcement action with orders requiring three American Express subsidiaries to refund an estimated $85 million to approximately 250,000 customers for illegal card practices. This action was the result of a multi-part federal investigation which found that at every stage of the consumer experience, TOSHIBA 9J.N7482.901 Laptop Keyboard

from marketing to enrollment to payment to debt collection, American Express violated consumer protection laws. American Express did send letters to some previous customers: "We invite you to apply for the Optima Card from American Express. This opportunity is in connection with a settlement solicitation, HP Mini 210-1073TU Laptop Keyboard

which did not clearly disclose that a settlement could prevent you from being approved for a new account with us in the future. This is in response to an enforcement action by the Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau regarding this issue. Lenovo Thinkpad T520 Laptop Keyboard

Your attached application will be approved unless we determine that you do not have the financial capacity to make the minimum payment on this new Optima Card account, or we receive the application after 04/25/2013."

In April 1992, American Express spun off its subsidiary, First Data Corp., in an IPO.  IBM Lenovo ThinkPad X300 Laptop Keyboard

Then, in October 1996, the company distributed the remaining majority of its holdings in First Data Corp., reducing its ownership to less than 5%.In 1994, the Optima True Grace card was introduced. The card was unique in that it offered a grace period on all purchases whether a balance was carried on the card or not (as opposed to traditional revolving credit cards which charge interest on new purchases if so much as $1 was carried over). HP 519265-001 Laptop Keyboard

The card was discontinued a few years later; the now discontinued One from American Express card offered a similar feature called "Interest Protection."

From early 1980s until the early 1990s, American Express was known for cutting its merchant fees (also known as a "discount rate") to merchants and restaurants if they accepted only American Express and no other credit or charge cards.  HP G61-400SP laptop keyboard

This prompted competitors such as Visa and MasterCard to cry foul for a while as the tactics "locked" restaurants into American Express. The practice ended in 1991, as several restaurants in Boston started accepting and encouraging the use of Visa and MasterCard because of their far lower fees as compared to American Express' fees at the time SONY VAIO PCG-F50/BP laptop keyboard

 (which were about 4% for each transaction versus around 1.2% at the time for Visa and MasterCard). A few even stopped accepting American Express credit and charge cards. The revolt, known as the "Boston Fee Party" (alluding to the Boston Tea Party), was orchestrated by a PR firm hired and paid by Discover Card. SONY VAIO VGN-NW320F/T laptop keyboard

The campaign spread to over 250 restaurants across the United States, including restaurants in other cities such as New York City, Chicago, and Los Angeles. In response, American Express reduced its discount rate gradually to compete more effectively and add new merchants such as supermarkets and drugstores to its network. TOSHIBA MP-06863US-9308 laptop keyboard

Many elements of the exclusive acceptance program were also phased out and American Express pursued other programs to effectively encourage businesses to add American Express cards to their existing list of payment options.

American Express formed a joint venture with Warner Communications in 1979 called Warner-Amex Satellite Entertainment, TOSHIBA NB100 laptop keyboard

which created MTV, Nickelodeon, and The Movie Channel. The partnership lasted only until 1984. The properties were sold to Viacom soon after.

On November 10, 2008, during the financial crisis of 2008, the company won Federal Reserve System approval to convert to a bank holding company, making it eligible for government help under the Troubled Asset Relief Program.[18][19] SONY Vaio PCG-K33 laptop keyboard

At that time, American Express had total consolidated assets of about $127 billion.[19] In June 2009, $3.39 billion in TARP funds were repaid plus $74.4 million in dividend payments, and in July 2009 they ended their obligations under TARP by buying back $340 million in Treasury warrants. ACER Extensa 5235 laptop keyboard

In November 2010 the UK division of American Express was cautioned by the Office of Fair Trading for the use of controversial charging orders against those in debt.[23] The regulator said that the company was one of four companies who were encouraging customers to turn their unsecured credit card debts into a form of secured debt. HP Mini 110-1150LA laptop keyboard

In March 2011, American Express completed a $685m purchase of Loyalty Partner, which operates the Payback loyalty program in Germany and Poland, and the i-Mint loyalty program in India.

When a consumer makes a purchase using a credit or charge card, a small portion of the price is paid as a fee (known as the merchant discount), with the merchant keeping the remainder. HP AE0P7U00010 laptop keyboard

There are typically three parties who split this fee amongst themselves:

  1. Acquiring bank: the bank which processes credit card transactions for a merchant, including crediting the merchant's account for the value charged to a credit card less all fees.

Issuing bank: the bank which issues the consumer's credit card. SONY VAIO VGN-NW110D laptop keyboard

  1. This is the bank a consumer is responsible for repaying after making a credit card purchase. The issuer's share of the merchant discount is known as the interchange fee.

Network: the link between acquiring banks and issuing banks. These banks have relationships with a network, rather than with each other, for fulfilling card purchases. TOSHIBA Satellite P300-1AO laptop keyboard

This allows a card issued by a community bank in Peru to be used at a shop in South Africa, for instance, without requiring the banks to have a direct relationship with each other. The two largest networks in the world are Visa and MasterCard. American Express operates its own network. HP Mini 210-2015la laptop keyboard

The average merchant discount in the United States is 1.9%. Of this, approximately 0.1% goes to the acquirer, 1.7% to the issuer, and 0.09% to the network.[25]

Most Prime and Superprime card issuers use the majority of their interchange revenue to fund loyalty programs like frequent flyer points and cash back, and hence their profit from card spending is small relative to the interest they earn from card lending. HP G42-272BR laptop keyboard

American Express is best known for its iconic Green, Gold, and Platinum charge cards, and offers credit cards of similar color levels in most countries.

In the 1950s, American Express issued its first credit card, which caught on quickly in the booming postwar economy and signaled the company's transition to a wider consumer base. HP Pavilion dm3-1080EF laptop keyboard

In 1966, the company issued its first gold card, in an effort to cater to the upper echelon of business travel. Its platinum card debuted in 1984 and continues to be immensely popular as it is second in exclusivity only to the Centurion Card.

In 1999, American Express introduced the Centurion Card, often referred to as the "black card," DELL 454RX laptop keyboard

which caters to an even more affluent and elite customer segment. The card was initially available only to select users of the Platinum card. The annual fee for the card is $2,500 (up from $1,000 at introduction) with an additional one-time initiation fee of $5,000. American Express created the card line amid rumors and urban legends in the 1980s that it produced an ultra-exclusive black card for elite users who could purchase anything with it.[26] HP Pavilion dm1-1002tu laptop keyboard

American Express cards range between no annual fee (for Blue and many other consumer and business cards) and a $450 annual fee (for the Platinum card). Annual fees for the Green card start at $95 (first year free), while Gold card annual fees start at $125. SAMSUNG R522 laptop keyboard

American Express has several co-branded credit cards, with most falling into one of three categories:

Airlines: e.g., Aerolineas Argentinas, Air Canada, Air France, Alitalia, British Airways, Cathay Pacific, Delta Air Lines, JetBlue Airways, Qantas,Scandinavian Airlines, Singapore Airlines, Virgin Atlantic, among others. HP 519265-001 laptop keyboard

  • Hotels: e.g., Hilton Hotels. Starwood Hotels & Resorts Worldwide
  • Retailers: e.g., Costco, David Jones, Holt Renfrew, Harrods, Macys, Bloomingdales, Lowe's, Mercedes Benz, and others.

Their card aimed at young adults is called Blue from American Express. SONY VAIO VGN-N110G laptop keyboard

A television media campaign for Blue adopted the 1979 UK Synthpop hit "Cars" by Gary Numan as its theme song. Based on a successful product for the European market, Blue had no annual fee, a rewards program, and a multi-functional onboard smart chip. A cashback version, "Blue Cash", quickly followed. SAMSUNG NP-NB30-KP01 laptop keyboard

Amex also targeted young adults with City Reward Cards that earn INSIDE Rewards points to eat, drink, and play at New York, Chicago and LA hot spots. American Express began phasing out the INSIDE cards in mid-2008, with no new applications being taken as of July 2008.

In 2005, American Express introduced Clear, advertised as the first credit card with no fees of any kind.  HP Pavilion dv5t-1200se CTO laptop keyboard

Also in 2005, American Express introduced One, a credit card with a "Savings Accelerator Plan" that contributes 1% of eligible purchases into a High-Yield Savings Account insured by the Federal Deposit Insurance Corporation. Other cards introduced in 2005 included "The Knot" and "The Nest" Credit Cards from American Express, co-branded cards developed with the wedding planning website theknot.com. SAMSUNG Q320 laptop keyboard

In 2006, the UK division of American Express joined the Product Red coalition and began to issue a Red Card. With each card member purchase the company contributes to causes through The Global Fund to Fight AIDS, Tuberculosis and Malaria to help African women and children suffering from HIV/AIDS, malaria, and other diseases. HP Pavilion dv6-2155dx laptop keyboard

In 2009, American Express introduced the ZYNC charge card. White in color, this card was created for people in their 20s and 30s. American Express is no longer taking applications for the ZYNC charge card.