From a May 10, 1998, article in the New York Post:
"Buffett apparently has plans to buy a lot more American Express. Berkshire Hathaway already owns 10.6 percent of American Express, but has petitioned the Federal Reserve to allow increasing that stake to 17 percent."
Buffett's plans to buy up to 17% of AmEx is what I have been saying all along. Apparently, the NY Post reporter, Beth Piskora, also read AmEx's "Notice of Annual Meeting" and saw the paragraph about how Buffett had petitioned the Federal Reserve to permit him to increase his AXP stake from 10.6% to 17%.