IBM: Lou Gerstner
Wisdom From The Top with Guy Raz
00:00
Travellers Checks - The American Express Card
In the early days of american express, you couldn't use it in a lot of places. A lot of huge retailers didn't even accept it ray says. mer express owned what i think might have been the greatest business created in the world - travellers checks. And so when i arrived, i had a senior management that wanted to protect travellers checks and not let the card grow very fast. The companies that hang on to their most profitable base business at the time of change are going to die doomedye.
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