2005年NPR美国国家公共电台七月-Bank of America Buys MBNA in Deal by Jim

.....the financial world today with a deal to acquire MBNA. MBNA is the largest independent issuer of credit cards in the world. If the deal goes through, Bank of America will pay about 35 billion dollars in cash and stock and wind up with about 20% of the nation's credit card business. As NPR's Jim Zarroli reports, it's part of an ongoing¹ consolidation² in the credit card business.

Only last year, Bank of America Chief Executive Kenneth Lewis oversaw³ the acquisition of FleetBoston Financial Center for 48 billion dollars. Lewis's announcement today that his company would acquire Delaware-based MBNA in a cash and stock deal was just as dramatic.

The result: We're the country's top retailer⁴ of financial services and one of the most powerful and profitable financial companies.
Lewis appeared alongside MBNA officials at a news conference at New York's Waldorf Astoria this morning. If the deal goes through, Bank of America will have about 40 million credit card accounts, double what it has now, and about 143 billion dollars in credit card balances. It will also acquire a company known for its marketing⁵ skill. Lewis called MBNA a selling machine today. MBNA pioneered so-called affinity⁶ credit cards. Banking⁷ industry analyst⁸ KSP says the company offers credit cards that are linked to sports teams, charities and other groups, and the groups in turn help sell the cards to their donors⁹.

That is, colleges, or ingroups, community groups, that people are involved with , send them letters that say "wouldn't you like to have a little piece of your purchases go to us? Because we do good work" and you say "sure". And that has been an extremely profitable marketing tool that's fueled MBNA's growth.
But P says the credit card business has become saturated¹⁰ in recent years, with more and more lenders competing for the best customers, and that raises questions about MBNA's long-term growth prospects¹¹. MBNA President Bruce Hammond who will run the credit card division in the new company says Bank of America's huge network of branches will give his division a new way to market its products.

MBNA can now solicit¹² through the mail, but we don't have direct contact with our customers. Bank of America has that contact with hundreds of their customers every second.

Hammond notes that Bank of America has recently invested in China, a huge, untapped market for credit cards, and also has significant operations in other countries. GN, an analyst at bancred.com says Bank of America's acquisition of MBNA could have a downside for some consumers. N says the tough competition in the industry has led to more and more consolidation, with the ten largest card issuers controlling 90% of the market.

And that competition among those large issuers to get bigger, maybe a good news for people who have very good credit in the offers they will receive, but for card-holders that have had prior credit missteps, there is one fewer option for them to look to.

That means people with poor credit histories are more likely to end up with issuers who charge higher fees and interests rates. The acquisition is also certain to be felt by the two companies' employees. Bank of America said it would eliminate about 6,000 jobs once the deal is approved by shareholders¹³ and regulators, that amounts to less than 3% of the combined company's work force. The company said it didn't yet know where the job cuts would take place. Jim Zarroli, NPR News, New York.

1 ongoing   

adj.进行中的，前进的

参考例句：

• The problem is ongoing.这个问题尚未解决。
• The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。

2 consolidation   

n.合并,巩固

参考例句：

• The denser population necessitates closer consolidation both for internal and external action. 住得日益稠密的居民，对内和对外都不得不更紧密地团结起来。 来自英汉非文学 - 家庭、私有制和国家的起源
• The state ensures the consolidation and growth of the state economy. 国家保障国营经济的巩固和发展。 来自汉英非文学 - 中国宪法

3 oversaw   

v.监督，监视( oversee的过去式 )

参考例句：

• He will go down as the president who oversaw two historic transitions. 他将作为见证了巴西两次历史性转变的总统，安然引退。 来自互联网
• Dixon oversaw the project as creative director of Design Research Studio. 狄克逊监督项目的创意总监设计研究工作室。 来自互联网

4 retailer   

n.零售商(人)

参考例句：

• What are the retailer requirements?零售商会有哪些要求呢？
• The retailer has assembled a team in Shanghai to examine the question.这家零售商在上海组建了一支团队研究这个问题。

5 marketing   

n.行销，在市场的买卖，买东西

参考例句：

• They are developing marketing network.他们正在发展销售网络。
• He often goes marketing.他经常去市场做生意。

6 affinity   

n.亲和力，密切关系

参考例句：

• I felt a great affinity with the people of the Highlands.我被苏格兰高地人民深深地吸引。
• It's important that you share an affinity with your husband.和丈夫有共同的爱好是十分重要的。

7 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

8 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

9 donors   

n.捐赠者( donor的名词复数 )；献血者；捐血者；器官捐献者

参考例句：

• Please email us to be removed from our active list of blood donors. 假如你想把自己的名字从献血联系人名单中删去，请给我们发电子邮件。
• About half this amount comes from individual donors and bequests. 这笔钱大约有一半来自个人捐赠及遗赠。 来自《简明英汉词典》

10 saturated   

a.饱和的，充满的

参考例句：

• The continuous rain had saturated the soil. 连绵不断的雨把土地淋了个透。
• a saturated solution of sodium chloride 氯化钠饱和溶液

11 prospects   

n.希望，前途(恒为复数)

参考例句：

• There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
• They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。

12 solicit   

vi.勾引；乞求；vt.请求，乞求；招揽(生意)

参考例句：

• Beggars are not allowed to solicit in public places.乞丐不得在公共场所乞讨。
• We should often solicit opinions from the masses.我们应该经常征求群众意见。

13 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任