[Rick Lee]

I think losing Costco was a $1 billion hit to Amex. They had layoffs because of it.

I haven't been to Costco's HQ, but I've heard they have a sign in their waiting room for all vendors there to make a sales pitch that says something to the effect that they expect to get the best deal vendors can offer, and, if they later find out someone else is getting better terms, that vendor will be dropped and blacklisted.

FWIW, I only go to Costco on my motorcycle, so I can only buy exactly what I went there for, which is usually bourbon.