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NEWS
January 31, 1993
James D. Robinson III, who led American Express Co. for 1 years, stepped down under increasing pressure from shareholders and the board of directors. His resignation came just days after he successfully staged a countercoup to thwart the board's attempts to oust him. Article on Page 3A
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BUSINESS
Lorraine Mirabella | August 14, 2014
If you had a complaint about your credit card last year, about billing or fraud, for instance, you were more likely to live in Maryland than North Dakota. Mid-Atlantic residents had the most credit card complaints per capita, with Maryland ranked overall in the U.S. as the state with the third highest number of complaints, according to a new study. Consumer website ValuePenguin analyzed the more than 13,000 complaints collected by the Consumer Financial Protection Bureau in 2013 to come up with its findings.
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BUSINESS
By American Banker | May 29, 1991
NEW YORK -- American Express Co., still reeling from a revolt by restaurateurs over its card fees, is now facing dissension from another big merchant group.Catalog companies are grousing that the fees they pay American Express on card transactions are too high."There is a discrepancy between the cost of taking American Express and other cards," said Claire Gruppo, president of Special Interest Video, a direct-mail marketer in New York.A protest by a group of Boston restaurants in March forced American Express to reduce the fees it charges eateries for transactions authorized through electronic terminals.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 1, 2012
The Consumer Financial Protection Bureau announced Monday that it had ordered three subsidiaries of American Express to refund about $85 million to roughly a quarter-million consumers for violating consumer protection laws. In addition, several federal agencies fined the credit card giant $27.5 million. The CFPB said illegal activity at the American Express subsidiaries was uncovered by the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions during a regular examination of American Express Centurion Bank.
BUSINESS
By Anthony Ramirez and Anthony Ramirez,New York Times News Service | June 14, 1991
NEW YORK -- In its latest counterattack against growing challenges from Visa and MasterCard, American Express Co. said yesterday that it would sharply expand the ways travelers could accumulate frequent-flier credits.Like competing bank "affinity cards" with ties to airlines, American Express will give its cardholders one frequent-flier mile for every dollar they charge on their Green, Gold, Platinum, Optima or Corporate cards.Any purchase, whether it be flowers, sweaters, college tuition or vacations, earns the miles, which are redeemable for free airline tickets or ticket upgrades to first class.
FEATURES
By Roger Catlin and Roger Catlin,The Hartford Courant | March 7, 1991
Paul Simon regrets his decision to have his current tour sponsored by American Express Gold Card, after receiving criticism that it was elitist. The Gold Card carries a $75 annual fee and is issued only to approved applicants older than 18 with a minimum annual salary of $20,000.Critics say the sponsorship doesn't fit Simon's image as a socially conscious singer-songwriter.In an interview, Simon called corporate sponsorship for his tour, which employs 17 musicians, "an economic fact of life."
BUSINESS
By BLOOMBERG BUSINESS NEWS | August 19, 1996
NEW YORK -- American Express Co. is missing a crucial ingredient in its quest to become a "growth" company: rising sales.For almost four years, the company has boosted the bottom line by firing people, spending less and buying back stock.Now, its challenge is to wring more value from its venerable charge card and travel businesses.Unless the company can make its products stand out in a crowded marketplace, Chairman and Chief Executive Harvey Golub could see his goal for the 146-year-old company -- sustained earnings growth of 12 percent to 15 percent -- slip away.
BUSINESS
By BLOOMBERG NEWS | July 19, 2001
NEW YORK - American Express Co. said yesterday that it will eliminate 4,000 to 5,000 jobs and take an $826 million pretax charge after junk bond losses reduced profit at the credit-card company for a third consecutive quarter. American Express, whose stock is the worst performer in the Dow Jones industrial average this year, also will take a third-quarter charge of $310 million to $370 million to cover expenses related to the job cuts. The company said its second-quarter profit fell 76 percent from the second quarter of 2000.
BUSINESS
By BLOOMBERG BUSINESS NEWS | July 30, 1996
NEW YORK -- Microsoft Corp. and American Express Co. said yesterday that they are developing an online reservation system for corporate travelers.The service will let executives make airline, hotel and rental car reservations and buy tickets using personal computers. It also will let companies monitor employees' spending habits to make sure that they conform to travel policies.Financial terms of the agreement, which gives American Express a two-year exclusive right to use the system, weren't disclosed.
BUSINESS
By Kurt Eichenwald and Kurt Eichenwald,New York Times News Service | October 3, 1991
NEW YORK -- American Express Co., faced with mounting problems in its credit-card operations, said yesterday that it was setting aside $265 million for expected losses and to pay for a reorganization of its flagship business that will involve the loss of 1,700 jobs.The reserves principally reflect major problems with the company's 4-year-old Optima credit-card program, which has encountered larger-than-expected delinquencies from its wealthy cardholders.Unlike the company's charge cards, which must be paid monthly, the Optima card, like Visa and Master Card, extends credit in exchange for a finance charge.
FEATURES
By John-John Williams IV, The Baltimore Sun and Baltimore Sun reporter | September 13, 2012
One of the best kept secrets of Mercedes-Benz Fashion Week has to be the VIP treatment received by American Express card members. Let's start with the American Express Skybox. Card members are escorted through a door in front of show guests - you can almost see them drool as you walk by - and up a flight of stairs to the opulent suite, which is perched above the top row of the actual runway show. The suite features a fully stocked bar, a mini stage where Q and A sessions are held between shows, and comfy seats for guests to watch each sashay and swivel on the runway.
SPORTS
By Matt Vensel | November 28, 2011
The Ravens and the San Francisco 49ers on Saturday night were featured on NFL Network's “Sound FX,” which gave viewers new audio and video of the Ravens' Harbaugh Bowl win from Thanksgiving night. This may come as a shock, but Ravens linebacker Terrell Suggs noticed that the cameras were rolling. There were many entertaining highlights, but my favorite was Suggs going nuts about tight end Dennis Pitta, who moved the chains with a diving third-down catch on the team's game-deciding touchdown drive.
BUSINESS
Eileen Ambrose | November 3, 2011
There are so many made-up days of celebration or awareness - National Mayonnaise Day or Annual Broccoli Week - that I don't even pay attention to them anymore. But something caught my eye when the BBB of Greater Maryland sent out a release on Small Business Saturday on Nov. 26 th . If you have an American Express card and use it to spend $25 or more at a small business on that Saturday, the credit card company will credit your account with $25 later. The company's generosity only goes so far. The offer is good for the first 200,000 cards registered.
BUSINESS
August 12, 2009
Fed approves acquisition of Towson's AmericasBank Capital Funding Bancorp Inc. in Baltimore said Tuesday its application to acquire AmericasBank Corp. has been approved by the Federal Reserve Bank of Richmond. The deal already has the blessing of the boards of both companies and AmericasBank shareholders, Capital Funding said. Details of the cash acquisition were not released. Towson-based AmericasBank, hobbled by losses in its mortgage-lending business, has three branches in Maryland.
FEATURES
By David Zurawik and David Zurawik,david.zurawik@baltsun.com | August 9, 2009
The new ad campaign from Liberty Mutual features a shaken father sharing his anxiety about losing his job. Another TV commercial reminds viewers that Allstate was founded in the darkest days of the Great Depression. And the latest spot from American Express opens on this note: "During times like these, it seems like the world will never be the same." Viewers turning to TV for an evening of escape from the gloom of the Great Recession have been finding something else altogether lately: more and more such ads reminding them of our economic woes.
BUSINESS
By DAN THANH DANG and DAN THANH DANG,dan.thanh.dang@baltsun.com | November 2, 2008
Sometimes, there is just no explanation. For 43 trouble-free years, John Murray never left home without his American Express card. The retired data coordinator dutifully paid an annual fee every year and diligently paid his balance in full every month. When it came time to renew in April, Murray paid the $85 due and then called the toll-free number to activate the new card sent him in the mail. Only this time, Murray encountered something new. "I was told that I must give American Express my Social Security number before the card could be activated," said Murray, 81, who spent 30 years with the Social Security Administration.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | April 18, 2001
American Express Co. introduced a new program yesterday that will help fund loans to the tiniest of the nation's companies. The financial services company said it will funnel 1 percent of spending from a new small-business credit-card program to three organizations that lend money and provide training to microenterprise businesses - companies with fewer than five employees and annual capital needs of less than $35,000. Yesterday's announcement highlighted Baker in a Bottle, a small business based in Mount Airy, as a successful example.
NEWS
By JACQUES KELLY | July 11, 2008
Frazier Yearley, a retired American Express manager and World War II veteran, died of cardiovascular disease Saturday at Keswick Multi-Care Center. The North Baltimore resident was 90. Born in Baltimore and raised in Roland Park, he was a 1936 City College graduate. He attended the Johns Hopkins University and left in his senior year to volunteer for military service. He joined the Army Air Forces and served with the 322nd Troop Carrier Command in Australia, New Guinea, the Philippines, Okinawa and Japan, family members said.
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