AMERICAN EXPRESS COMPANY New York, NY
The American Express Company, a leading US diversified financial services organization, has undergone a recent restructuring to reorient itself towards its three core businesses: Travel Related Services, IDS Financial Services and the American Express Bank. Though it is best remembered for its travelers checks and American Express cards, the company operates a worldwide travel agency in over 2000 locations within 120 countries. It also published several lifestyle and travel magazines and sells life insurance through AMEX Life Assurance.
IDS Financial Services offers insurance, annuities, investment products and financial planning and investment advisory services. A subsidiary, IDS Life Insurance, is the 14th largest life insurance company in the US.
For additional information, American Express
AMERICAN INTERNATIONAL GROUP, INC. New York, NY
American International Group (“AIG”) founded in Shanghai, China is now based in New York. It is the first western insurance company to be granted a license to do business in China since the Communists consolidated their power. AIG was founded 73 years ago. AIG is the US’s largest international insurer, the only US insurer found overseas and the US’s leading commercial and industry insurer. Its strength overseas, however, lies in life insurance. Through subsidiaries, AIG is the largest life insurer in Southeast Asia and in the Philippines. AIG’s success results from strong fiscal controls, product innovation and worldwide distribution of its products. The company is a master at finding unfilled niches, such as kidnapping and ransom insurance.
AMR CORPORATION Fort Worth, TX
AMR is a holding company for the world’s largest airline, American Airlines, and a group of regional airlines (e.g. American Eagle). With 18% of US air travel controlled by bankrupt carriers and with numerous small airlines taking off, competition among the airlines is fierce. AMR is building ground operations, such as network management, data processing , information services, management consulting and ground handling to help weather the current storms. AMR can rely on its SABRE Travel Information Network, the leading computer reservations system among travel agents.
For additional information, AMR
FORD MOTOR COMPANY Dearborn, Michigan
Ford is the world’s fourth largest industrial corporation and the second largest producer of cars and trucks (Automotive Group). It also ranks among the largest providers of financial services in the US (Financial Services Group). The Financial Services Group consists of Ford Credit, the ASSOCIATES, First Nationwide and US Leasing. It is also engaged in a number of other businesses, including electronics, glass, electrical and fuel-handling products, plastics, climate-control systems, service and replacement parts, vehicle leasing and rental and land development. The primary focus of finance at Ford is to provide timely and accurate financial analysis to company management in order to support a wide range of businesses.
For additional information, Ford Motor Company
GENERAL MOTORS CORPORATION New York, NY
GM designs, manufactures, and sells automobiles and trucks, locomotives and other components related to the worldwide transportation industry. In addition, the corporation is involved in the design and manufacture of satellites, integrated circuits, electronic optical sensors, guidance systems and other defense electronic systems.
GM’s Treasurer’s office plays an important role in the decisions that affect both the current operations of the corporation and its future direction. The office is extensively responsible for a broad range of financial strategic planning including: new business ventures, domestic and international subsidiary financing, investments, divestitures, capital planning and foreign exchange trading.
For additional information, General Motors
PHILIP MORRIS COMPANIES, INC. New York, NY
Through subsidiaries that include Kraft, General Foods, and Miller Brewing, the company makes everything from Raisin Bran to Miller Lite beer to Marlboro cigarettes. It is also involved in financial services and real estate.
Philip Morris is the world’s largest tobacco company and holds a 42% share in the US. While tobacco continues to be the company’s most lucrative business, accounting for 66% of operating profits, an increased regulatory environment and public anti-cigarette sentiment points to signs that the company’s cash cow might begin to experience a slower growth. Miller Brewing, the US’s second largest beer company, manufactures the US’s most popular low calorie beer, Miller Lite.
THE PROCTOR & GAMBLE COMPANY Cincinnati, OH
Long respected as America’s packaged consumer goods leader, P&G is wrestling with a fundamental shift in consumer preferences that emphasize price over brand loyalty. P&G maintains a number one or two market share in 31 of the 41 categories in which it competes. Since 1989, P&G has accelerated its new product introductions by 30%, currently producing approximately 2300 brand varieties. Global expansion is also important here, especially in Europe, which accounts for 29% of its sales.
THE SOUTHERN COMPANY Atlanta, GA
The Southern Company is the US’s second largest publicly-owned electric utility after Pacific Gas & Electric. It provides service to more than three million customers in four Southern and Southeastern states. It provides electricity through five utilities: Alabama Power Company, Georgia Power Company, Gulf Power Company, Mississippi Power Company and Savannah Electric & Power Company. Southern Electric Generating Company operates generating plants on Alabama’s Coosa River with Alabama and Georgia Power - each is entitled to 50% of the power they generate. Southern is looking for growth opportunities overseas. In 1992, it purchased 50% of Freeport Power, a Bahamian electric utility.
For additional information, Southern Company