American Express

Paper Summary:

The paper discusses American Express and the development of an export plan for businesses. The paper notes that assisting companies in developing an export business has been a company process for some years. The paper describes how American Express offers help through a number of venues. The small business unit provides recommendations for any business plan, including for export and import businesses, beginning with the admonition to develop a good plan for internal planning and for garnering support from external sources.

From the Paper:

"The American Express Company has a long history. It was formed in 1850 by Henry Wells and his two main competitors when they combined their delivery services into American Express. The founders are related to another important American financial institution; when directors of the company balked at expanding to California in 1852, Wells and his vice president William Fargo formed Wells Fargo. American Express itself merged with Merchants Union Express in 1868 and developed a money order to be in competition with the postal money order offered by the government. When Fargo had difficulty cashing a check in Europe, the company developed the idea of offering Travelers Cheques in 1891 and other services for U.S. travelers followed. During World War I, the government nationalized and consolidated all express delivery services, offering compensation to the owners."

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