24/7 Wall St. (Free subscription) | 14 hours ago
The CEO of American Express (NYSE:AXP) Kenneth Chenault said that credit card spending by his customer was up 3% in October compared to September and up 1% from October of last year. That is barely a rounding error. Amex shares rose on the news. Fedex (NYSE:FDX) said it expects shipping traffic to move up during the holidays. [...]
CNNMoney.com (Free subscription) | 10/15/2009
An interactive presentation: The Amex CEO talks about how his company is dealing with new rules after the financial crisis as it looks abroad for new opportunities.
HomeATM (Free subscription) | 10/10/2009
Source: BusinessWeek: American Express Co.'s departing president will receive separation payments totaling $9.7 million along with a $4 million performance bonus and his regular salary, the company said in a regulatory filing on Tuesday. Alfred F. Kelly, who plans to leave the company effective April 10, 2010, will receive a salary of $765,000 per year through Dec. 31 and $850,000 per year from Jan....
HomeATM (Free subscription) | 10/05/2009
Image via Wikipedia New York, Oct. 5, 2009 -- American Express Company (NYSE: AXP) today announced several senior leadership and organizational changes to position the company for growth during a time of change in the payments industry and take advantage of opportunities as the world economy comes out of the recession. Effective immediately: The company’s global consumer, small business and...
San Fransisco Chronicle (Free subscription) | 10/05/2009
American Express Co. says its president, Alfred F. Kelly Jr., will step down early next year. The payment card company said Monday that Kelly wants to run a company as chief executive. American Express Chairman and CEO Kenneth I. Chenault says in the... Sponsored Topics: American Express - Kenneth Chenault - Chief executive officer - Business - Credit card
Market Watch (Free subscription) | 10/05/2009
SAN FRANCISCO (MarketWatch) -- American Express Co. said Monday that President Alfred Kelly will leave the company early next year due to organizational changes. "In the context of discussions we have had about longer term plans for the organization, Al made clear to me that he wanted the opportunity to run a company as chief executive," said Kenneth Chenault, chairman and chief executive,...
Msquared2 PR/Talent Agency (Free subscription) | 08/25/2009
Is Sapphire The New Black? by Deidre Woollard Aug 20th 2009 at 11:02AM You wouldn't think that this would be the time to launch a luxury credit card but JPMorgan Chase & Co. has come out with a new card, Chase Sapphire , which is aimed at the affluent. Bloomberg News reports that Chase Sapphire is for households with incomes exceeding $120,000. The new card has no pre-set spending limit and holders...
Luxist (Free subscription) | 08/20/2009
You wouldn't think that this would be the time to launch a luxury credit card but JPMorgan Chase & Co. has come out with a new card, Chase Sapphire , which is aimed at the affluent. Bloomberg News reports that Chase Sapphire is for households with incomes exceeding $120,000. The new card has no pre-set spending limit and holders earn a point for every dollar they spend. There are two Chase Sapphire...
HomeATM (Free subscription) | 07/27/2009
News Alert from The Wall Street Journal American Express reported second-quarter net fell 48% to $337 million, while revenue dropped 18% to $6.09 billion. AmEx said its loan-loss provisions totaled $1.6 billion, compared with $1.8 billion, reflecting lower average cardmember receivables and loans. "Given the cutbacks in discretionary spending among affluent consumers, small businesses and corporations,...
BAYSTREET NEWSWIRE (Free subscription) | 07/24/2009
Credit card giant American Express Company ( AXP ) said Thursday that its second quarter profit fell 48%, amid mounting loan losses and the economic recession. The New York City-based company reported second quarter net income of $337 million, or 9 cents per share, down from $653 million, or 56 cents per share, in the year-ago period. Excluding one-time charges of 18 cents per share related to buying...
SeekingAlpha Retail Stocks (Free subscription) | 07/24/2009
Matthew Rafat submits: 1. American Express ( AXP ) CEO Kenneth Chenault had these sobering words to say (from American Express's 2008 Annual Report): The experience of the past year reinforces the principle that people should not spend more than they have the capacity to earn and pay back. And financial services companies should not encourage people to get over their heads in debt. Healthier consumer...
Got Shares? (Free subscription) | 07/24/2009
1. American Express (AXP) CEO Kenneth Chenault had these sobering words to say (from American Express's 2008 Annual Report): The experience of the past year reinforces the principle that people should not spend more than they have the capacity to earn and pay back. And financial services companies should not encourage people to get over their heads in debt. Healthier consumer behavior is better for...
Calculated Risk (Free subscription) | 07/08/2009
First, a stick save for the market today (end of day rally) ... Click on graph for larger image in new window. This graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears". Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500. From CNBC: AmEx CEO: Way Too Early To Call A Recovery American Express Chief Executive Kenneth Chenault...
Fund my Mutual Fund (Free subscription) | 07/08/2009
This seems like a reasonable point of view - a good 12 minute interview with Kenneth Chenault, the CEO of a stock we've had some battles with: American Express (AXP) . Certain companies provide good overviews of what the US economy has become - the Fedex's, the railroads, the credit card companies... hence, I'd rather listen to a reality check from this sort of perspective rather than panting over...
HomeATM (Free subscription) | 06/12/2009
Evan Schuman writes in his StorefrontBacktalk Blog that the National Retail Federation and several other retail organizations sent a letter to Bob Russo (pictured on left) asking for time for implementation. NRF and Other Retail Groups Gang Up On PCI, Demand More Reasonable Rules Written by Evan Schuman Representatives of seven of the largest retailer organizations sent a strongly-worded letter to...
Videos