GENERAL MOTORS LEADS THE CHARGE:
The Launch of the GM Card

In 1992 at a convention, Visa USA president and CEO Robert Heller belittled the arrival of non-band credit-card issuers. He joked that it wouldn't be long before pizza parlors joined AT&T and General Motors in offering cards. Within a year he was punted and people were talking about McDonald's having a credit card.

The US Car Industry in the Early 90's
Flat demand and foreign competition made the early 90's tough for the big three. In 1992 GM chalked up the largest annual loss in US corporate history, around $4.5 billion.
Part of the solution to GM's problem was to make better cars and make them more efficiently.
That still left the issue of how cars were sold. End-of-the year rebates, cash-back, and dealer discounts were hard to control. Car buyers began to expect these incentives, so they waited and by waiting forced manufacturers to offer them earlier in the year.

The GM Card
In September 1992, GM teamed......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: General Motors Leads The Charge
Approximate Word Count: 425
Approximate Pages: 2 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on General Motors Leads The Charge, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!