E American Express Attitude On A Monday

Today's blog was delayed by an enormously complicated and wrong charge notice from American Express whose Amazon credit card was stolen from me back in November 2020. I sent all my credit card firms copies of the report after I reported the pickpocketing to my local police precinct. And it turned out that AmEx, whose shares I have long owned, was trying to bill me for payments I had in fact made using another autopay card. This is fraud in my view and I am going to sell my shares. The threat to my credit rating and the fines they said were pending were both known to be wrong by the fellow who demanded an immediate auto payment. They gave me lists of bills I owed that had been paid using a different Amazon card from Visa, so I didn't owe them at all for the bulk of what they were demanding about 40 payments. 

This is the baba Of course, my exit will not hurt AXP which is why I am sharing my experience with you. I am also plotting to inform the State of New York, home both of me and the company, of this nasty experience. AmEx needs not only payments but also protection of its good name. That is why I am sending my blog of today to American Express. I cannot believe that this kind of behavior is good for the company. By the way, the people who picked up the phone when I called (3x) never gave me their names or extension numbers which should have been a tip-off. They then hung up and I started all over. I know I used my corporate credit card to buy groceries at Whole Foods because I never got a second card from AmEx as I should have. But I then paid from my personal bank account to my corporate bank account to avoid having my company billed for the meatloaf.

The last week in May (because next Monday is Memorial Day) has begun and things are weird because Canada is celebrating its war dead today but will be open next Monday. We are close neighbors but cannot coordinate very well. The US dollar is up, in part because Canada is in mourning.

Today we have no reporting company, hip hip hurray! But we do have news. Let's start with copy and copycat:

*Coupang is up 6.34% because Bill Gates bought shares of the Korean online sales and finance group at the IPO, it was revealed today. Gates is a person lots of investors like to copy. We didn't pay the IPO price but bought too soon.

*Royal Dutch Shell was upped on Seekingalpha by anonymous writers called Portfolio Navigator. He or she wrote about both Shell stocks, the B which pays normal dividends, and the A which pays dividends chopped by Dutch taxes. The editors on Seekingalpha.com were too lazy to explain this and because A comes earlier in the alphabet, the poor readership was steered to the A shares, which are really only good for people on a polder. More on Shell in America's news below.

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