[lbo-talk] ss online only

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Sat Jul 23 20:36:20 PDT 2011



> Iggy Pop said it's a good thing they didn't have ATM cards in the '70s
> because if they had he would have od'd for sure.


:-)

I found these two nuggets:

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1969 - First use of ATM magstripe cards - In 1969 Docutel installed its Docuteller machine at New York's Chemical Bank - This is the first use of magnetically encoded plastic. Chemical Bank's ad campaign said: "On September 3, 1969, our branch will open its doors at 9:00 a.m. and we'll never close again!"

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In 1996, Chemical acquired The Chase Manhattan Corporation in a merger valued at $10 billion to create the largest financial institution in the United States. Although Chemical was the acquirer, the bank adopted the Chase brand, which was considered to be better known, particularly internationally. Chase, which had been the largest bank in the U.S. had fallen to sixth, while Chemical was the third largest bank at the time of the merger. The merger resulted in the reduction of more than 12,000 jobs between the two banks and merger related expenses of approximately $1.9 billion.

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So I guess "never" means really about 27 years.

/jordan



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