Western Union F.A.Q.

In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it. In the summer of 1990 top managers of the Western Union Company spent day and night in the main office in Englewood (Colorado, USA). They needed to meet the challenge: to save the Western Union from bankruptcy, paying off the debts of the company millions of dollars.

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