Wednesday, June 25, 2008


Some good folks at AXP certainly did this morning.

By Erik Holm
June 25 (Bloomberg) -- American Express Co., the biggest
U.S. credit-card company by purchases and cash advances, said
customers are falling further behind on their debt, signaling the
economy is worsening.
``Business conditions continue to weaken in the U.S. and so
far this month we have seen credit indicators deteriorate beyond
our expectations,'' Chief Executive Officer Kenneth Chenault said
in a statement today announcing the company would receive as much
as $1.8 billion in a settlement with competitor MasterCard Inc.

1 comment:

Greenie said...

I can't pay my credit card bill, unless WFC and C go up more. The money is in the bank (pun intended) :)