It's unsecured. They can try to collect it, but the consumer can basically tell the bank to stick it. And COF went on a rampage a few years ago issuing CC lines to everyone, anyone. It didn't matter if they were working or bankrupt. And now they must pay the price.
The market is in the younger generation. High school and college. Give away some watches to the top performers. Tailor some ads toward the young crowd. DO SOME MARKETING!!
Milton, a long time resident of Queens, ran thru his front door and onto the street reiterating ;Strong Buy'. A bottle of whiskey in one hand and an apple in the other, folks around him assumed he was talking about Apple stock. A close friend of Cramer, Milton has been looked at as a market guru. Dressed only in pajama pants and totally intoxicated, he was quickly subdued by police and locked up. When questioned, he said: ' I was referring to the sale on apples down at the local grocery store'.
They BEAT estimates. They are changing their basic business model. They got 4 major upgrades to a target of 37 - 40.