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Article: Diners Club Braces for Loss of Large Federal Contract
- Article from:
- THE JOURNAL RECORD
- Article date:
- October 2, 1993
- Author:
CopyrightCopyright 1993 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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By Rob Wells
Associated Press
NEW YORK _ Diners Club's future was questioned Friday when the
grandfather of the plastic money era lost its single biggest
account, a federal contract to provide charge cards to nearly 1
million traveling bureaucrats.
Officials of the 43-year-old Diners Club card were
disappointed, but said the outlook for their core business of
catering to traveling executives remained vibrant.
Industry analysts disagreed. They said Diners Club, a pioneer
that forged its image as the trademark of big-spending
businessmen and jet setters, is now clouded, since the government
contract amounted to about 25 percent of its annual domestic
business.
"There's just no ...