Bruised AmEx Returns to Roots†

Wall Street Journal, March 2, 2009 — American Express Co., after outclassing its rivals for the past 50 years, is looking uncomfortably like just another credit-card company.

AmEx is reeling from late payments and defaults by customers it aggressively wooed before the U.S. economy tumbled into recession. Its sterling reputation for customer service is under attack from longtime clients. Even cardholders with plenty of money are putting away their plastic, pushing shares of the New York company to a 12-year low.