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
2013-05-20
41
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 hi California, 1,100 more than the U.S. 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 while 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 bureancracy, 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 Line 2, 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
指代题。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/SC4O777K
0
专业英语八级
相关试题推荐
______wasthemostprominentAmericanplaywrightintheearly1920s.
Asaversatileman,HenryFieldingisNOTa______.
TheU.S.wonthe______andcompletelygotridoftheBritishcontrol.
Mostembeddedclausesrequireanintroductorywordcalledasubordinator,suchas"that,until,before,______,"andsoon.
______doesnotbelongtoNewEngland.
Researchersinvestigatingbrainsizeandmentalabilitysaytheirworkoffersevidencethateducationprotectsthemindfromthe
Humanityusesalittleleasthanhalfthewateravailableworldwide.Yetoccurrencesofshortagesanddroughtsarecausingf
Therearemanyacareerinwhichtheincreasingemphasisis(1)______inspecialization.Youfindthesecareersinengineering,
Thechangesinlanguagewillcontinueforever,butnooneknowssurewhodoesthechanging.Onepossibilityismatchildrenare
______wasthefounderofthePlantagenetDynastyandruledEnglandfor35years.
随机试题
(2019年聊城茌平区)心理科学研究中应用最广、成就最大的一种方法是()
生产、销售《刑法》第141条至148条所列产品(假药、劣药、有毒、有害食品等),构成该条规定的犯罪,同时又构成生产、销售伪劣产品罪的()
高血压病患者睡眠时突感极度胸闷,气急,大汗淋漓,咳大量粉红色泡沫痰,端坐呼吸,血压26.6/14.7kPa(200/110mmHg),心率110次/分。下列哪项护理是错误的()。
下列存款人中,需要向开户银行提出撤销银行结算账户的申请的有()。
某公司需要招聘一名采购经理。公司人事部门在当地晚报上刊登了一份招聘启事,内容如下:招聘采购经理大专以上学历,3年相关工作经验,较好的英语水平和计算机能力,有高度的工作责任感和沟通协调能力。主要工作职责是联系供货公司,及时准确地在规定时间内将企业各
根据《破产法》的有关规定,下列各项中属于清算组职责的有()。
从社会总成本角度分析社会资本再生产问题的核心是()。
列举教育研究假设的三种分类方式,并简述假设表述的基本要求。
“谷撒地,薯叶枯,青壮炼铁去,收禾童与姑,来年日子怎么过?”这首诗反映的是20世纪50年代末中国农村生活景况。造成这利,状况的主要原因是()。(北航2010翻译硕士)
CREATEDATABASE命令用来建立( )。
最新回复
(
0
)