Word: manhattanization
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...Citicorp, the biggest U.S. banking company, announced last week that its profits for the second quarter fell 37%, to $248 million, from the same period a year ago. Citicorp attributed much of the decline to increased losses on real estate lending, particularly to developers in the troubled Northeast. Chase Manhattan, the No. 2 banking concern, reported second-quarter profits of $52 million, a 62% plunge from the same period a year...
...years ago. Now the proportion is 17%, and Chemical has cut the number of countries where it has marketing offices from 30 to nine. Bankers Trust, First Chicago, Manufacturers Hanover Trust and other U.S. multinationals known as money-center banks have sliced their foreign presence just as dramatically. Chase Manhattan, which has been operating overseas for more than 100 years, has closed or sold offices in 22 (of 55) countries. Among the U.S. money-center banks, Citicorp is one of the few still trying to expand its international network...
...banks, 14 are Japanese, led by giant Dai-Ichi Kangyo (assets: $413 billion). Five are European, topped by France's Credit Agricole (assets: $243 billion). Only one, Citicorp ($231 billion), is American. In fact, of the 50 largest banks in the world, only three are American: Citicorp, Chase Manhattan and BankAmerica. "U.S. banks are pygmies in a world of giants," says Lowell Bryan, a banking analyst at the consulting firm of McKinsey & Co. in New York City. "Although we have the largest financial economy, we have the smallest banks...
Indeed, Quick Change is most successful with the slices of Manhattan life it depicts during the bank-robbery scenes: a hostage dictating his will into his microcassette recorder, a street vendor selling hot dogs to the crowd that has assembled to watch the stand...
...producers never make full use of the potential that the movie's setting offers. Although Quick Change--unlike many others of its genre--actually was filmed in Manhattan instead of Pasadena, many scenes have the familiar look of New-York-as-seen-by-people-from...