January 16, 2014 |
In the cutthroat competition for credit-card travel perks, the US Airways-American Airlines merger has dealt a blow to American Express Platinum and Centurion cardholders. The day after the merger was approved, creating the world's largest airline, American announced that AmEx Platinum and Centurion cards would no longer provide free entry to US Airways and American's airport lounges, effective March 22. Only Citibank's Citi Executive AAdvantage "world elite" MasterCard will carry complimentary access to American Admirals and US Airways club lounges.
December 19, 2012 |
Citibank , which spent millions in the last decade building branch offices in prime East Coast locations to lure small-business borrowers and middle-class savers, is preparing to shut its branches on the Main Line and other suburban locations, and focus instead on "the world's great cities. " Central Philadelphia apparently qualifies as a "world's great city. " All five Center City Citi offices will stay open, including the one that occupies the space long held by the old Doc's Leisure Time porno shop across from the Convention Center.
September 18, 2012
D EAR HARRY: I have written to you before concerning my reason for having more than two credit cards: I get a lot of frequent-flier miles by opening new credit cards. But this has now had an interesting twist. My accountant just informed me that those miles (really, their cash value) are going to be taxed by the high muckety-mucks at IRS. He said he'd get back to me when he got more info on just what I have to do. Is he on the ball here, or is he just setting me up for an additional fee?
September 29, 2011 |
A COMMUNITY-development arm of Citibank today announced a $125,000 grant to be split between two local nonprofits to provide microloans to entrepreneurs and small businesspeople. One of the nonprofits, Finanta, is based in the eastern part of North Philadelphia and has a large clientele in the Hispanic community, said Donald L. Haskin, senior vice president at Citi Community Development. The other non-profit, Entrepreneur Works, is based in Center City and has a large clientele in the African-American and African-Caribbean communities, he said.
November 6, 2007 |
The billions in losses at Citigroup Inc., which led to Sunday's departure of chief executive officer Charles O. Prince, will not derail Citibank's expansion plans in Philadelphia, a local executive said yesterday. "From my perspective, nothing changes" in terms of Citibank's effort to become "a leader in financial services here in Philadelphia," said William E. Brown, Citibank's marketplace leader. Brown said Citibank opened its 11th branch here last week on Cottman Avenue in Northeast Philadelphia and - after opening its first here last year - planned to have 22 open by the end of the year.
January 23, 2004 |
Citibank will close a former Sears, Roebuck & Co. credit-card operations center in Neshaminy, idling 930 workers, the bank confirmed yesterday. The collections and customer-service work done there will be transferred to other Citibank facilities, said Maria Mendler, a bank spokeswoman. Citigroup Inc., the bank's parent, paid $3 billion last year for Sears' credit-card portfolio. The deal was completed in November, and, Mendler said, "that's when you go in and decide how best to organize the business.
April 11, 2003 |
Vanguard Group has filed a civil fraud lawsuit against one of the world's largest banks, accusing Citibank of conspiring to sell Vanguard mutual funds $70 million of Enron Corp. bonds that turned out to be worthless. In a lawsuit filed in Chester County Court late Wednesday, Malvern-based Vanguard said Citibank "unjustly enriched itself" by setting up "complex financial schemes" in the Cayman Islands during the late 1990s. The point of the schemes, according to the suit, was to disguise Enron's mounting debts to Citibank as "normal" commodity investment accounts.
March 27, 2001 |
The state Senate Judiciary Committee postponed a confirmation hearing yesterday for the woman whom Acting Gov. Donald T. DiFrancesco nominated as state treasurer, after a published report said that she was fired from a former job for spending company funds on personal travel. At a brief news conference later, DiFrancesco and Isabel Miranda said the allegations were false and were generated by her ex-husband, with whom she had a difficult separation. The acting governor said he remained "definitely sure" about the nomination, adding that he was disappointed that the committee did not let Miranda speak yesterday.
February 24, 1998 |
Tom Cruise has sprung for a new airplane complete with a Jacuzzi that's put him back more than $30 mil. The top-of-the-line Gulfstream IV will allow the movie star and fam to travel between their American, European and Down Under homes in a style befitting. Among its other features: a movie viewing area with Dolby sound; a kitchen with microwave, refrigerator, and stove with a barbecuing grill; bedrooms and bathroom for the kids, Isabella, 4, and Connor, 3; plus a play area decorated in a Toy Story theme.
July 9, 1997 |
Tiger Woods will go head to head with golf legend Jack Nicklaus in the ultimate battle of the green: marketing mania. After more than 30 years of promoting golf balls, shirts and shoes, it took Nicklaus just months to add credit cards to his list of commercials after Woods inked a $13 million deal. On its new Citibank Jack Nicklaus Visa card, the credit company will call Nicklaus the "golfer of the century," pitting his reputation against the more recent success of Woods. Competing directly with American Express, where Woods is the spokesman, "The Bear's" Visa cards will earn him an undisclosed amount of money and a heap of free publicity for his Palm Beach, Fla., company, Golden Bear Golf Inc. While both golfers will inevitably attract credit customers of all ages and races, some sports marketers say Nicklaus was offered the contract only after Woods made golf a hot sport for Generation X crowds.