Class-action lawsuit filed against MBNA

[Maine-ah]

DELAWARE - A national law firm has filed a federal class-action suit alleging that MBNA Corporation and some of its top executives violated provisions of the Securities Exchange Act of 1934 by knowingly projecting false earning estimates for 2005. MBNA has denied the allegations.
(snip)

On April 21, 2005, MBNA "shocked the market" according to the court documents, by announcing earnings of just two cents per share for the first quarter of 2005, "a 94 percent decline from the $0.59 per share it reported in Q4 2004 - and that it was guiding 2005 EPS growth down to 'significantly below' its prior 10 percent growth estimate." The complaint alleges that MBNA officials were aware at the time that revenues were lower and expenses higher than the financial projections indicated.

http://www.courierpub.com/articles/2005/05/11/republicanjournal/local_news/2mbna.txt

[AP]

1. Could "buy Blue" really be working? I stopped using my MBNA cards...

...and I never shop at WalMart, but I will go to Costco and Target.

Target is going gangbuster.

Apple is doing great too.

I think Netflix challenges the hegemony of cable, and they're doing really well. Meanwhe Bill O'Reilly isn't. (And neither is Blockbuster, which, I understand, isn't a big fan of the liberal films.)

I like my podcast of Counterspin, but I understand that NPR affiliates-- which whored it up for the Republicans mightily duing the invasion and the election -- are having a tough time raising money these days

[Toots]

2. This is one company I would love to see broken

I used to have a loan with them and they continually charged me interest on the interest. They are also one of the Republican's largest contributors. If you have a loan with them or a credit card you should see if you can find alternatives. They are scum....

[nannah]

3. mbna has the working assets account

i've had a working assets credit card for years; at some point the card company changed from fleet to mbna.