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.
The right enemy
5 years ago