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To: Alex who wrote (73588)	7/18/2001 12:25:35 PM
From: Ken Benes	Read Replies (5) \| Respond to of 116752

Excellent bit of information. Unfortunately, projections are out to 2006. For the short term, there is still plenty of ammunition to keep the pog contained. Ken

To: Alex who wrote (73588)	7/18/2001 12:30:04 PM
From: Ahda	Read Replies (1) \| Respond to of 116752

Wednesday July 18 10:10 AM ET American Express to Slash Jobs By Brian Kelleher NEW YORK (Reuters) - American Express Co. (NYSE:AXP - news) said on Wednesday it will slash up to 5,000 jobs, or 5.6 percent of staff, and take up to $1.2 billion in charges, the latest large financial services firm to fall victim to the slowing U.S. economy. ``We now believe the high level of defaults will continue through next year,'' Chief Executive Kenneth Chenault said on a conference call. The company also expects the U.S. economy to be weak through next year, he said.