Job Title: Mgr
Location: New York
Submitted on: 01-Feb-04
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Job Title |
Business Outlook
Survey |
| Mgr |
Business outlook? Well, they continue to hit their numbers with some
solid performance. However, this continues to be driven by their best
customers and best sectors. Like the 80/20 rule, 80% of their profit
comes from 20% of their customers.
The credit/charge card sector is the biggest contributor to their
profits and its future is debatable. Amex has perpetually lacked new
card products and been unable to tap into some key prospect markets for
the last 3 years or so. The recent ruling allowing banks to issue Amex
cards could help them from a distribution/revenue perspective, but may
also create servicing nightmares. It remains to be seen.
Employee morale? From colleagues I know, it is better now than it has
been in some time, but still not great.
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