OTHER NEWS - July 22, 1992

American Express Ads Run Afoul of Olympics: A senior official of the International Olympic Committee said the organization is considering legal action against American Express Co. over a marketing campaign that attacks its rival Visa, an official sponsor of the Summer Games. Dick Pound, IOC marketing chief, accused the U.S. credit card company of “taking value from the Olympic movement without making any contribution to it.” Amex last week launched a hard-hitting advertising campaign in the United States to counter what it said was a misperception created by Visa commercials that Amex cards would not be accepted in Barcelona. Visa’s U.S. television ads end with the words, “Once again, the Olympics don’t take American Express.” Amex advertisements respond: “To visit Spain you don’t need a Visa.”