Kenneth Chenault Quotes

While we were on target to meet prior consensus for third-quarter earnings, the terrorist attacks obviously had a significant impact on the overall economy and we saw clear evidence of that as consumer spending, business travel and investment activity slowed after Sept. 11. - Kenneth Chenault

While we are seeing signs of improvement in volumes, we are continuing to take a cautious view and expect the economy to remain weak throughout 2002. - Kenneth Chenault

The actions we announced today are being taken to ensure that we're in a strong position to navigate through what we expect to be a longer period of economic weakness. - Kenneth Chenault

I've been in the company since 1981 and involved in the card business since 1984, and I believe we are in the strongest position we've been in... I remain confident in our overall network strategy and our relationship with MBNA going forward. - Kenneth Chenault

In light of this decision, we plan to resume our conversations with a number of banks -- now free to make a choice -- about possible card-issuing ventures. - Kenneth Chenault

Fourth quarter results from continuing operations met or exceeded our long-term targets for earnings, revenues and, on a pro forma basis, return on equity. Higher spending by affluent consumers, small businesses and corporate Card members more than offset the impact of an industry-wide spike in bankruptcy filings before new legislation went into effect last October. - Kenneth Chenault

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