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Discover is a credit card brand issued primarily in the United States. It was introduced by Sears in 1985. When launched, Discover did not charge an annual fee and offered a higher-than-normal credit limit. A subsequent innovation was "Cashback Bonus" on purchases. [1]
Discover Financial Services, Inc. is an American financial services company that owns and operates Discover Bank, an online bank that offers checking and savings accounts, personal loans, home equity loans, and credit cards. It also owns and operates the Discover and Pulse networks, and owns Diners Club International.
Sears, Roebuck and Co., commonly known as Sears (/ s ɪər z / SEERZ), [6] is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail-order catalog company migrating to opening retail locations in 1925, the first in Chicago. [7]
In February and March 1993, Sears sold 20% of the company in an initial public offering, and the company was subsequently renamed Dean Witter, Discover & Co., with two primary operating subsidiaries: Dean Witter Reynolds and Discover Card. Later that year, the remaining 80% of shares were distributed to Sears' shareholders, giving Dean Witter ...
Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois.It was the parent company of the chain stores Kmart and Sears and was founded after the former purchased the latter in 2005. [7]
As CEO, although in 1985 he presided over the introduction of the Discover Card, the first new major credit card in twenty years, [10] [13] during the 1990s he dismantled the conglomerate that Telling had assembled, spinning off Discover, Dean Witter, Coldwell Banker, the Sears Mortgage Banking Group, and also Allstate Insurance, [10] which was ...
He played a leading role in Sears's acquisition of Dean Witter Reynolds on December 31, 1981, and became President in 1982 and Chairman and CEO in 1986. In 1993, Purcell led the spin-off from Sears and initial public offering of Dean Witter Discover. Shareholders buying the IPO made 20% per year, or 9 times their original investment by March ...
This page was last edited on 10 October 2013, at 23:37 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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