Airline Cards Lose Luster as Coronavirus Persists

Kimberley Moore called
JPMorgan Chase
& Co. in October to ask if it would lower the $450 annual fee on her
United Airlines Holdings Inc.
credit card. A United cardholder for roughly 15 years, Ms. Moore traveled often. Then the coronavirus pandemic hit and Ms. Moore, 53 years old, scaled back her spending and canceled travel plans.

Ms. Moore, a senior director at a national health care organization in Washington, D.C., decided to keep the card after JPMorgan offered her a $200 statement credit. But she has barely used the card since, and is instead mostly using debit cards.

Nearly nine months into the pandemic, banks and airlines are scrambling to rescue their airline rewards cards. The companies have deployed the cards for years to win big-spending customers, but the perks they offer—like flight upgrades and airport lounge access—are all but obsolete in a global pandemic.

Typically, card companies don’t

Read More

McKinsey Should Lose Federal Contracts over Proposal to Reimburse Pharmacies for Opioid Overdoses

Senator Josh Hawley (R., Mo.) released a letter on Tuesday condemning McKinsey & Company and suggesting the consulting firm should lose out on lucrative federal contracts over a proposal to reimburse pharmacies for every OxyContin overdose and instance of addiction among their customers.



Josh Hawley wearing a suit and tie: Senator Josh Hawley (R., Mo.) speaks at a committee hearing in Washington, D.C., June 10, 2020.


© Al Drago.Reuters
Senator Josh Hawley (R., Mo.) speaks at a committee hearing in Washington, D.C., June 10, 2020.

Court documents released in November showed that McKinsey advised the Sackler family, owners of Purdue Pharma, on how to increase sales of OxyContin even as overdose deaths from the opioid painkiller spiked across the U.S. Purdue Pharma pleaded guilty on November 24 to federal criminal charges for its role in the opioid epidemic.

Loading...

Load Error

In one presentation, McKinsey outlined several possible strategies, one of which was to give rebates to pharmacies for every overdose and case of addiction among their customers, the New York Times reported.

The

Read More