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