Financial Institutions manufacture spend themselves?
May 22, 2013, 11:29 am
#1
Original Poster
Join Date: Feb 2013
Posts: 1,818
Financial Institutions manufacture spend themselves?
Out of randomness, i've always wondered what the percentage of Banks, Paypal, AP, Google Wallet, and VR employees are on FlyerTalk everyday racking up miles thanks to our savvy selves.
More ironically, I wonder what the percentage of the people in charge of shutdowns actually manufacture spend themselves because they know exactly what NOT to do? And also talk with us everyday as if they're just "one of us".
Penny, err...mile for your thoughts?
More ironically, I wonder what the percentage of the people in charge of shutdowns actually manufacture spend themselves because they know exactly what NOT to do? And also talk with us everyday as if they're just "one of us".
Penny, err...mile for your thoughts?
May 22, 2013, 12:13 pm
#2
Join Date: Nov 2011
Posts: 1,944
Out of randomness, i've always wondered what the percentage of Banks, Paypal, AP, Google Wallet, and VR employees are on FlyerTalk everyday racking up miles thanks to our savvy selves.
More ironically, I wonder what the percentage of the people in charge of shutdowns actually manufacture spend themselves because they know exactly what NOT to do? And also talk with us everyday as if they're just "one of us".
Penny, err...mile for your thoughts?
More ironically, I wonder what the percentage of the people in charge of shutdowns actually manufacture spend themselves because they know exactly what NOT to do? And also talk with us everyday as if they're just "one of us".
Penny, err...mile for your thoughts?
May 26, 2013, 9:05 am
#5
Join Date: Jan 2003
Location: Fairfield County, CT USA
Programs: AA PLT+2MM / DL DM+1MM / A3 *G / Fairmont LT Plat / Ritz Gold / SPG Gold
Posts: 4,077
Question for you: how much net profit has the government realized from their 2008 investments in banks, insurance companies and maiden lane assets (bear portfolio, AIG, etc)?
I'll make it easy, multiple choice...
A)$5-10 billion
B)Over $10 billion
May 27, 2013, 11:53 am
#7
Join Date: May 2010
Programs: UA MileagePlus
Posts: 138
While this doesn't directly address the OP's question, I do work at one of the major companies which has been the subject of several churn opportunities over the past few years.
I'm not at liberty to disclose anything specific. But I will say that with all our extensive monitoring systems in place, sudden spikes in high-volume/high-value activity definitely do not go unnoticed for very long. I remember that for one particular time-limited promotion which was the subject of intense churning within a (roughly) 24 hour period, our key decision makers were made aware of the churning activity within the first two hours.
In my company's case, we generally deliberately do allow such activities to continue, since they are not illegal (even if they occasionally do skirt the boundaries of our T&Cs) and ultimately represent a very small percentage of our overall business (and thus are easily absorbed within our normal margins). As such, it is usually not worth the administrative costs and potential negative publicity to clamp down on such activities. Moreover, my company's corporate culture emphasizes siding with our customers whenever possible (which by the way was one thing that attracted me to work for them to begin with), so for most issues we give folks a lot of leeway anyway.
Having said that, my company's very healthy profit margin makes maintaining this benign attitude far easier for us than it might be for a company in a different financial situation....
I'm not at liberty to disclose anything specific. But I will say that with all our extensive monitoring systems in place, sudden spikes in high-volume/high-value activity definitely do not go unnoticed for very long. I remember that for one particular time-limited promotion which was the subject of intense churning within a (roughly) 24 hour period, our key decision makers were made aware of the churning activity within the first two hours.
In my company's case, we generally deliberately do allow such activities to continue, since they are not illegal (even if they occasionally do skirt the boundaries of our T&Cs) and ultimately represent a very small percentage of our overall business (and thus are easily absorbed within our normal margins). As such, it is usually not worth the administrative costs and potential negative publicity to clamp down on such activities. Moreover, my company's corporate culture emphasizes siding with our customers whenever possible (which by the way was one thing that attracted me to work for them to begin with), so for most issues we give folks a lot of leeway anyway.
Having said that, my company's very healthy profit margin makes maintaining this benign attitude far easier for us than it might be for a company in a different financial situation....
May 27, 2013, 1:32 pm
#8
Join Date: Jul 2008
Location: CLL
Programs: MS Plat, AOR ninja
Posts: 2,177
While this doesn't directly address the OP's question, I do work at one of the major companies which has been the subject of several churn opportunities over the past few years.
I'm not at liberty to disclose anything specific. But I will say that with all our extensive monitoring systems in place, sudden spikes in high-volume/high-value activity definitely do not go unnoticed for very long. I remember that for one particular time-limited promotion which was the subject of intense churning within a (roughly) 24 hour period, our key decision makers were made aware of the churning activity within the first two hours.
In my company's case, we generally deliberately do allow such activities to continue, since they are not illegal (even if they occasionally do skirt the boundaries of our T&Cs) and ultimately represent a very small percentage of our overall business (and thus are easily absorbed within our normal margins). As such, it is usually not worth the administrative costs and potential negative publicity to clamp down on such activities. Moreover, my company's corporate culture emphasizes siding with our customers whenever possible (which by the way was one thing that attracted me to work for them to begin with), so for most issues we give folks a lot of leeway anyway.
Having said that, my company's very healthy profit margin makes maintaining this benign attitude far easier for us than it might be for a company in a different financial situation....
I'm not at liberty to disclose anything specific. But I will say that with all our extensive monitoring systems in place, sudden spikes in high-volume/high-value activity definitely do not go unnoticed for very long. I remember that for one particular time-limited promotion which was the subject of intense churning within a (roughly) 24 hour period, our key decision makers were made aware of the churning activity within the first two hours.
In my company's case, we generally deliberately do allow such activities to continue, since they are not illegal (even if they occasionally do skirt the boundaries of our T&Cs) and ultimately represent a very small percentage of our overall business (and thus are easily absorbed within our normal margins). As such, it is usually not worth the administrative costs and potential negative publicity to clamp down on such activities. Moreover, my company's corporate culture emphasizes siding with our customers whenever possible (which by the way was one thing that attracted me to work for them to begin with), so for most issues we give folks a lot of leeway anyway.
Having said that, my company's very healthy profit margin makes maintaining this benign attitude far easier for us than it might be for a company in a different financial situation....
Allowing churning is quite nice. thanks!
Money is needed to play these games, yes?
Ever do a churn yourself?
Rewards are often worth the risk
I love earning rewards!
Can I earn unlimited rewards with your company?
All rewards I earn I really enjoy!
Never do I take for granted that the endless bounty of points will last forever!
Earn then burn is a good practice.
Xipwire was good while it lasted.
Proper planning prevents poor performance
Rival companies are always trying to get customers with high credit scores, yes?
Every member is an opportunity to realize profit.
Several FTers earn millions of points each year.
Speaking of points, how many does your company pay out on an annual basis?
May 27, 2013, 3:16 pm
#9
Original Poster
Join Date: Feb 2013
Posts: 1,818
While this doesn't directly address the OP's question, I do work at one of the major companies which has been the subject of several churn opportunities over the past few years.
I'm not at liberty to disclose anything specific. But I will say that with all our extensive monitoring systems in place, sudden spikes in high-volume/high-value activity definitely do not go unnoticed for very long. I remember that for one particular time-limited promotion which was the subject of intense churning within a (roughly) 24 hour period, our key decision makers were made aware of the churning activity within the first two hours.
In my company's case, we generally deliberately do allow such activities to continue, since they are not illegal (even if they occasionally do skirt the boundaries of our T&Cs) and ultimately represent a very small percentage of our overall business (and thus are easily absorbed within our normal margins). As such, it is usually not worth the administrative costs and potential negative publicity to clamp down on such activities. Moreover, my company's corporate culture emphasizes siding with our customers whenever possible (which by the way was one thing that attracted me to work for them to begin with), so for most issues we give folks a lot of leeway anyway.
Having said that, my company's very healthy profit margin makes maintaining this benign attitude far easier for us than it might be for a company in a different financial situation....
I'm not at liberty to disclose anything specific. But I will say that with all our extensive monitoring systems in place, sudden spikes in high-volume/high-value activity definitely do not go unnoticed for very long. I remember that for one particular time-limited promotion which was the subject of intense churning within a (roughly) 24 hour period, our key decision makers were made aware of the churning activity within the first two hours.
In my company's case, we generally deliberately do allow such activities to continue, since they are not illegal (even if they occasionally do skirt the boundaries of our T&Cs) and ultimately represent a very small percentage of our overall business (and thus are easily absorbed within our normal margins). As such, it is usually not worth the administrative costs and potential negative publicity to clamp down on such activities. Moreover, my company's corporate culture emphasizes siding with our customers whenever possible (which by the way was one thing that attracted me to work for them to begin with), so for most issues we give folks a lot of leeway anyway.
Having said that, my company's very healthy profit margin makes maintaining this benign attitude far easier for us than it might be for a company in a different financial situation....
May 27, 2013, 3:25 pm
#10
Join Date: Aug 2011
Posts: 1,689
Nice info. Couple questions/comments:
Allowing churning is quite nice. thanks!
Money is needed to play these games, yes?
Ever do a churn yourself?
Rewards are often worth the risk
I love earning rewards!
Can I earn unlimited rewards with your company?
All rewards I earn I really enjoy!
Never do I take for granted that the endless bounty of points will last forever!
Earn then burn is a good practice.
Xipwire was good while it lasted.
Proper planning prevents poor performance
Rival companies are always trying to get customers with high credit scores, yes?
Every member is an opportunity to realize profit.
Several FTers earn millions of points each year.
Speaking of points, how many does your company pay out on an annual basis?
Allowing churning is quite nice. thanks!
Money is needed to play these games, yes?
Ever do a churn yourself?
Rewards are often worth the risk
I love earning rewards!
Can I earn unlimited rewards with your company?
All rewards I earn I really enjoy!
Never do I take for granted that the endless bounty of points will last forever!
Earn then burn is a good practice.
Xipwire was good while it lasted.
Proper planning prevents poor performance
Rival companies are always trying to get customers with high credit scores, yes?
Every member is an opportunity to realize profit.
Several FTers earn millions of points each year.
Speaking of points, how many does your company pay out on an annual basis?
In fact, most are probably trade secrets that cannot be disclosed by employees.
May 27, 2013, 3:26 pm
#11
Join Date: Jul 2008
Location: CLL
Programs: MS Plat, AOR ninja
Posts: 2,177
May 27, 2013, 10:41 pm
#12
Join Date: Feb 2004
Location: Seattle
Programs: United 1P, Alaska MVPG 75K, Hyatt Daimond
Posts: 428
You must be confusing banks with auto companies.
Question for you: how much net profit has the government realized from their 2008 investments in banks, insurance companies and maiden lane assets (bear portfolio, AIG, etc)?
I'll make it easy, multiple choice...
A)$5-10 billion
B)Over $10 billion
Question for you: how much net profit has the government realized from their 2008 investments in banks, insurance companies and maiden lane assets (bear portfolio, AIG, etc)?
I'll make it easy, multiple choice...
A)$5-10 billion
B)Over $10 billion
Whiles we were lucky, the governments of Ireland, Spain and others who also backstop the banks are not doing so well.