American Express Co.: The New York-based financial...
From Times Staff and Wire Reports
American Express Co.: The New York-based financial services firm said its fourth-quarter net income fell 46.4% to $137.9 million, compared to the year-ago period. Net income for the year was $181.5 million, versus $1.16 billion for 1989. The company attributed the decline to restructuring costs for its Shearson Lehman Bros. brokerage unit, including a $787-million charge in the first quarter and $50 million in the fourth quarter.
