Word: expressed
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MISA FLAMENCA (Nimbus). Guitarist Paco Pena has adapted the texts of the Roman Catholic liturgy and set them to the extroverted melodic and rhythmic emotions of flamenco to compose this earthy, passionate Mass. His musicians and singers charismatically express love of freedom, resignation under oppression and an unconquerable faith that soars from an anguished soul...
...race to create vast financial supermarkets, American Express was among the first in line. Backed by a blue-chip image and the clout of its ubiquitous green charge cards, the Manhattan-based conglomerate went on a spending spree in which it acquired brokerage firms, insurance companies and a real estate business in an ambitious bid to offer a grocery list of investment services under one roof...
Initially, the strategy produced one success after another, contributing to American Express's almost mythic reputation for savviness and invincibility. But a recent chain of misfortunes, miscues and poor managerial decisions is prompting a reappraisal of Amex's sterling reputation. Acquisitions that looked like masterstrokes only a few years ago are now facing criticism; the managerial decision-making process that was once considered fine-tuned and flawless is suddenly being second-guessed; businesses that were thought to be impervious to economic downturns have proved to be vulnerable after all. In short, American Express is showing that it has chinks...
...week that it is conducting an internal investigation to see whether Optima executives, either at its operations office in Jacksonville or at Manhattan headquarters, falsified records to hide the true degree of card-holder defaults. The Federal Deposit Insurance Corp. is probing the matter as well, because the American Express Centurion Bank, which issues Optima, filed incorrect documents with federal regulators as a result of the apparent cover-up. Amex investors, who suffered from a sharp drop in the company's stock when the Optima trouble came to light, have filed a class-action lawsuit claiming that the company misrepresented...
...unemployment report came two days after American Express said it would lay off 1,700 workers and take a $265 million write-off because of rising defaults among holders of its new Optima credit card. Ames Department Stores, meanwhile, said it would close 77 of its 448 stores and lay off about 4,500 employees early next year...