Custom Search

American Express Handling Credit Crisis Methodically

Unlike most companies who are sulking their sorrows of a potent drop in the economy by 2009, American Express seems to have lined up its own share of contingency measures to keep its head above water. It is no secret that even the 4th U.S. credit issuer is having its own share of problems addressing the weakening economy and despite disturbing business scenarios in 2009, they are ready for it.

Of course, AmEx is not expected to drop down just like that. They have made the proper adjustments and have reportedly sought $3.5 billion from the U.S. government’s $700 billion financial services rescue fund, at an attractive rate of 5 percent on preferred stock with warrants, the publication said.

So while other companies are trying to figure out how they can make it through the year, here is a company looking ahead despite experiencing its shares fall 3.8 percent to close at $19.99 on Friday. They were trading at $51.90 at the beginning of the year.

Source

Technorati Tags: , , , , , , , , , , ,