Jump to content

BK knocking down AMEX


jq26
 Share

Recommended Posts

This isn't a question, just more applicable to those in this forum.

This just came across my DJ Newswire...thought I'd share. Apparently the BK bill that big CC companies lobbied hard for is having a larger than expected affect on their share price.

"NEW YORK (Dow Jones)--U.S. stocks bounced around the flatline in midday trading Wednesday amid a spike in oil prices, with American Express a notable decliner after the credit card company warned bankruptcy losses would hurt coming quarter earnings."

Link to comment
Share on other sites

Nothing is ever as it seems. Lower earnings this quarter (and maybe for the year) means lower taxes, so that won't hurt the company much...and lower stock prices means that the insiders that control the company can purchase more stock now...so that when the rebound occurs because nobody can file BK on them, the stock price will double.

At least for me, anyway, us puny consumers tend to thing in terms of what will happen next week, or next month. Some of us might even look a few years down the road. The people that actually control this world think in terms of decades.

If I had it to do over, I'd gladly lobby for a law in my forties that would make me rich in my sixites...

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.