Magnises Provides Impressive Credit Card Rewards

McFarland’s source of inspiration

McFarland was inspired by the desire to own an American Express Centurion card. He came across this card while having dinner with his friends. This desire prompted him to develop a card that pays the bills and grants one access to exclusive clubs and restaurants.

According to The Guardian, after that dinner with his buddies, Billy McFarland set out to find a way to implant a magnetic strip on a metal card. In an interview with CNBC, McFarland revealed that his company connects a credit card to the Magnises card through data transfers. When the transfer is complete, the Magnises black card is used as a formal platinum card. McFarland’s company also set up a mobile app. This app serves as a guide to exclusive events at discounted rates. Since it was launched, Magnises has attracted over 10,000 members in Washington D.C and New York City. McFarland’s goal is to conquer other cities on the West Coast.

Magnises’ membership and profitability

According to McFarland, Magnises membership is by referral. Before a person is considered a member, he/ she is invited to a Magnises event and is vetted by the other millennials. Magnises members get to decide if a person is social and fit for the club membership. After the vetting process is over, a prospective member is required to pay a registration fee of $250.

A Magnises card is not prone to legal risks since all the transactions go through the bank. Additionally, Magnises is not a credit card but a brand that networks people. McFarland further elaborated that his startup generates revenue through membership, organizing events, and the Magnises Club, and brand partnerships.

Magnises spends at least $70 on each member annually. Magnises partners include Samsung, Tesla, and Virgin. These partners contribute to the Magnises’ revenue by paying a licensing fee. Within the past year, this startup has raised a record $3 million in revenue.

Anthony Petrello: The Oil Drilling Guru

Anthony G. Petrello is the president of Nabors Industries, a Hamilton-based oil, natural gas, and geothermal drilling contractor. The company was unveiled in 1968, and it operates in Africa, America, Far East, and the Middle East. Petrello holds a Doctor of Jurisprudence degree from Harvard Law School and Bachelor’s & Master’s degrees in Mathematics from the acclaimed Yale University.

Career Journey

Tony’s business management career began in 1986 when he was appointed by Baker & McKenzie law firm as the head of its New York office. In 1991, he moved to Nabors Industries Ltd, and he was named the Company’s Chief Operating Officer. A year later, Petrello was promoted to the president position. In 2011, he became the company’s Chief Executive Officer. He served as the Deputy Chairman of Nabors Industries Ltd from 2003 to 2012 before becoming the chairperson in June 2012. On February 28, 2011, he joined Stewart & Stevenson, LLC and became the firm’s director, a position he holds to date.

Petrello’s record of accomplishments

Under the leadership of Mr. Petrello, Nabors has made remarkable achievements. In 2015, the company merged its completion and production services business with C&J Energy Services. This move allowed Nabors to renew its objective on drilling services and technologies. Consequently, the company has managed to grow its position in the global oil market. In the recent past, the company has diversified their oilfield services in The United States and Canada, developing international growth potential.

Nabors Industries Ltd. embraces innovation and cultural diversity. With Mr. Anthony Petrello as its CEO, the company has contracted and employed skilled personnel of distinct genders, continents, political ideologies, and cultures. Nabors cares about the safety of its employees. For this reason, all workers were provided with fire retardant coveralls. On top of that, a rescue kit, which can retrieve employees who fall in well-servicing derricks, was developed. The company has established camps for the employees working in remote regions to improve oil driving services. Today, Nabors boasts of more than 29,000 employees.

Promoting environmental sustainability

Air pollution is a major problem in the oil industry. Nabors Ltd. has developed the silica dust collection system, a new technology that has significantly reduced dust pollution. This system collects silica dust during offloading from the conveyor belt and during blending. This system also ensures that workers and the general public do not inhale poisonous crystalline silica.

Petrello’s engagement in charity work

Mr. Petrello is a leading philanthropist. Together with his wife, Cynthia Petrello, they donated over $5 million to The Neurological Research Institute. This donation helped the Institute in conducting research on neurological disorders.