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Switched (Free subscription) | 11/19/2009
Highlights from this morning's other big tech headlines.... Apple still hasn't officially commented on its rumored development of a Tablet e-reader, but that silence hasn't stopped other professionals from spilling. The Executive Editor of the New York Times already revealed knowledge of the gadget's existence , and Conde Nast, publisher of magazines like GQ and Wired, has now claimed that it will...
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HomeATM (Free subscription) | 11/18/2009
American Express to Acquire Revolution Money to Develop Next Generation Payment Products Deal combines state-of-the-art technology platform with leading global brand ST PETERSBURG, Fla.--( BUSINESS WIRE )--American Express Company (NYSE: AXP) today announced it has agreed to acquire Revolution Money, a Revolution LLC company. Revolution Money, launched by AOL Co-founder Steve Case’s Revolution...
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Glick Report (Free subscription) | 11/18/2009
I've been down in D.C. at the Wall Street Journal CEO Council speaking with some of the biggest names in the corporate world. It's been extremely exciting and I can't wait to share with you what we discussed. (Expect lots of blog posts to follow!) American Express CEO Kenneth Chenault was kind enough to share his [...]
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24/7 Wall St. (Free subscription) | 11/11/2009
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. [...]
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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.
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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....
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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...
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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,...
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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...
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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...
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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,...
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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...
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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...
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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...
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