Advisory Board Meeting #3

Executive Management came to Beijing this week for a number of meetings with our prospective business partner. The last time they were in Beijing was on April 29th.

On Wednesday we held our third joint credit card advisory board meeting. The meeting was scheduled for 2+ hours. It started with a nice draft video that the partner did on the evolution of the credit card business and the cooperation between the two organizations. Then two of JPM board advisors were presented with live plastics from our inaugural credit card product in China. I then presented the status of the credit card business and thoughts on strategic direction for profitiability. The Executives then had a discussion about transition plans (without me in the room. . . . . yahoo).

Later in the day we had an update on the status of the international business, JPM, and the Card business in the US. Then a nice dinner at the Ritz Carlton.