***PLZ PIN***

I am in AMEX MGMT - on the front lines. We have halted all hiring, and have gone to absolute survival mode just within the last two weeks!

We went in survival mode back in fall of 2008 where we laid off 10k people, but that was after the financial storm had already hit and we were caught off guard. It is different this time. The "powers that be" with AMEX expect a huge turn of events with regards to the economy - A huge depression to be exact.

Warrent Buffet owns 12% of AMEX stock. I think he sees what is going to happen in the next month or so with the global markets and is advising Ken Chenault to batten down the hatches and keep as much cash on hand as possible. I believe they think it will start with the banks collapsing in europe, which in turn will collapse ours.

Just saying, in all the years I have been with AMEX, I have never experienced such tight measures being put in placed. We are asking our employees to work even harder and with less "down time" to make up for the lack of new hires.

***The employees here feel it - just ask one!***


Back in 2008 our stock had dropped down to about $13 or $14 a share. We went from making $900 million profit per quarter down to between $100-$200 million per quarter. They do not want this to happen again! We have fully recovered since then.


What say you?