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Essay / Research Paper Abstract
A 5 page research paper that analyzes the recent financial situation of American Express. The writer gives background on the company before discussing its current marketing strategy and offering recommendations as to whether or not American Express stock is a good investment. Bibliography lists 1 source.
Page Count:
5 pages (~225 words per page)
File: KE9_99amex.rtf
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Unformatted sample text from the term paper:
overriding financial goals for American Express. These are: 1) to boost earnings per share by 12% to 15% annually; 2) to maintain a return on equity of 20%; and 3)
to increase revenues by at least 8% per year (Bianco 60). The first two objectives have been easily met, but the management team of Golub and Chenault has experienced difficulty
in creating cost efficiencies that serve to spur revenue growth (Bianco 60). Nevertheless, improvements are being made. For the first three quarters of 1998, American Express had a revenue gain
of 7.5%, which pulled up its three-year average to 6.4% (Bianco 60). Golub has overseen bringing American Express back to business basics by getting rid of many of the
assets it acquired during the 1980s and by restructuring the ones that remained (Bianco 60). However, now that the company has been restored to profitability, Golub and Chenault still face
the same questions that first motivated the acquisition of all those assets in the first place?Can American Express develop the "heft and global reach it needs to remain self-sufficient, or
will it have to seek a merger partner?" (Bianco 61). While things have admittedly looked bleak for American Express in the past, even a cursory look at the career of
Ken Chenault inspires confidence in his ability to negotiate a company toward financial stability. Also the team of Golub and Chenault appear to have an almost symbiotic relationship that should
continue to aid American Expresss fortunes. In the late 1980s, Chenault was one of a rising generation of American Express managers who could see that MasterCard International and Visa
USA posed a dire competitive threat (Bianco 63). At this time, the bank-card associations were flooding the market with a variety of low-fee cards that offered such perks as frequent-flier
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