CORPORATIONS: Embassies of Money

Currency crises are supposed to exert a dangerously depressing force on international business, because they create devastating uncertainty about the value of paper money. But the effect on that exemplar of corporate internationalism, American Express Co., has been quite the opposite. Despite, or indeed partly because of the monetary upheavals of the last two years, the company is making more money than ever in its 123-year history. During 1972 its profits rose 20% for the 24th consecutive yearly increase. This year is starting out even better. Chairman Howard L. Clark disclosed last...

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