首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Bank of America, holding company for the San Francisco-based Bank of America, was once unchallenged as the nation’s biggest bank
Bank of America, holding company for the San Francisco-based Bank of America, was once unchallenged as the nation’s biggest bank
admin
2017-04-21
102
问题
Bank of America, holding company for the San Francisco-based Bank of America, was once unchallenged as the nation’s biggest banking organization. At its peak, it had more branches in California — 1,100 — than the US Postal Service. It was also a highly profitable enterprise. But since 1980, Bank of America’s earnings have been down or flat. From March 1985 to March 1986, for example, earnings per share dropped 50. 8 percent. Samuel H. Armacost, president and CEO, has confessed that he doesn’t expect a turnaround soon.
Some of Bank of America’s old magic seems to have rubbed off on New York’s Citibank, perennial rival for top banking honors. Thanks to aggressive growth policies, Citicorp’s assets topped Bank of America’s for the first time in 1983 and by a healthy margin. Citibank has also been generating profits at a fast clip, enabling it to spend lavishly on campaigns to enter new markets — notably Bank of America’s turf in California.
The bad times Bank of America is currently facing are partly the result of the good times the bank enjoyed earlier. Based in a large and populous state and operating in a regulated environment, Bank of America thrived. Before deregulation, banks could not compete by offering savers a higher return, so they competed with convenience. With a branch at every crossroads, Bank of America was able to attract 40 percent of the California deposit market — a source of high earnings when the legal maximum payable to depositors was much lower than the interest on loans.
The progressive deregulation of banking forced Bank of America to fight for its customers by offering them competitive rates. But how could this mammoth bureaucracy, with its expensive overhead, offer rates as attractive as its loaner competitors? Pruning the establishment was foremost in the minds of Bank of America policymakers. But cutbacks have proceeded slowly. Although the bank is planning to consolidate by offering full services only in key branches, so far only about 40 branches have been closed. Cutbacks through attrition have reduced the work force from 83,000 to fewer than 73,000; wholesale layoffs, it seems, would not fit the tradition of the organization. And they would intensify the morale problems that already threaten the institution.
The phrase "mammoth bureaucracy" in paragraph 4 refers to ______.
选项
A、its expensive overhead
B、its large amount of branches
C、its long history
D、corruption of its leaders
答案
B
解析
在前文中指出,美国银行目前面临困境的原因也就是它过去成功的原因,而上一段表明,它成功是由于有庞大的分支机构来为用户提供便利,因此讲面临困难的原因时也是指过多的分支机构,这一点在下文中也可看出。
转载请注明原文地址:https://kaotiyun.com/show/Jx9d777K
本试题收录于:
BFT阅读题库国际化人才外语考试(BFT)分类
0
BFT阅读
国际化人才外语考试(BFT)
相关试题推荐
YougotaletterrequestinginformationfromAndreaPhilips,themarketingmanagerofLinguaServicesLtd.
Readthisnotefromyourboss,Mr.RichardWesley.May18th,2013Louise,Ourcompanyisworkingonopeninganewof
Usingtheinformationinthetext,completeeachsentence14-18withanexpressionfromthelistbelow.Foreachsentence(14
Directions:Usingtheinformationinthetext,completeeachsentence6-10,withawordorphrasefromthelistbelow.Foreach
Directions:Usingtheinformationinthetext,completeeachsentence6-10,withawordorphrasefromthelistbelow.Foreach
Thesingle,decisivefactorthatmadeitpossibleformankindtosettleinpermanentcommunitieswasagriculture.【R1】______Once
ItiscommonforAmericanstohavedifferent"circlesoffriends"suchaschurchfriends,workfriends,orsportsfriends.【R1】__
1.Properarrangementofclassroomspaceisimportanttoencourageinteraction.Mostofushavenoticedhowimportantphysicals
Couldthebadolddaysofeconomicdeclinebeabouttoreturn?SinceOPECagreedtosupplycutsinMarch,thepriceofcrudeoil
Beforehisretirement,Brianworkedasapilotforacompanycalled(9)______foralongtime.Brianfeelslikeabirdwhenfl
随机试题
导致肾盂肾炎常见的致病菌为
男者,45岁,近两个月出现肝区疼痛,乏力,消瘦明显,消化不良,腹胀,食欲减退,无黄疸,查体:肝于右肋下可触及3.0cm,移动性浊音(-),诊断为肝癌对诊断有重要意义的实验室检查是
对既往有高热惊厥史的患儿,下列预防高热惊厥发作的护理措施中正确的是()
(2007年)根据香港、澳门特别行政区基本法的规定,下列哪一选项是正确的?()
采用慢速维持荷载法对某直径为1.2m、桩长为20m的桥梁桩基进行竖向静载试验,已知桥位处地基土为坚硬黏质土,请回答以下问题。关于沉降观测仪器的叙述,正确的有()。
某桥梁工程施工前,施工单位了解工程地点的地形、工程地质、水文地质和水文条件,掌握了地基土壤种类及其物理学性质、各层土的厚度及标志、周围地区地下水位和地面排水情况,并办理了设计提供的控制桩的交接手续。施工单位为了做好桥梁工程前期质量控制,编制了
根据新《商检法》规定,当事人对商检机构作出的行政处罚决定不服的,必须先申请行政复议,对行政复议不服的才能向人民法院提起诉讼。( )
下列关于无代价抵偿货物的税、证管理规定的论述,错误的是()。
张某、李某、王某共同出资设立某普通合伙企业。后来张某死亡,继承人只有小张。合伙协议对合伙人资格取得或者丧失未作约定。根据《合伙企业法》的规定,下列表述中,正确的是()。
=_________.
最新回复
(
0
)