Mini Airstream, Smoking Smarties, Amex Simplifies, L-Shape

American Express launched a program in February 2009 to help consumers “simplify your finances” by paying off and closing their accounts. The carrot? A $300 cash card, redeemed when any outstanding balance is paid in full. The blogosphere is snarking at the campaign, pointing out that accepting the offer but not paying off the balance will still result in account closure — and no cash card. Not all cardholders “qualify.” AmEx has targeted specific customers that the company feels would benefit most from the offer. Those folks will receive the offer, including a special passcode, by snailmail.
Sir Martin Sorrell said last night he believed the current recession would be L-shaped ­or prolonged, rather than “bath-shaped” as he famously described a previous downturn. The WPP chief and one of the UK’s best-known business pundits was giving the annual lecture of the Stationers’ and Newspaper Makers’ Company in the City on the topic “Recession. Bath, shower or whirlpool — which is it to be?”. Economists define L-shaped recessions as protracted periods of economic stagnation, such as that experienced by Japan in the 1990s.
sir martin sorrell

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