The Western Union Company (NYSE: WU) is a financial services and communications company based in the United States. Its North American headquarters is at Englewood, Colorado, and its international marketing and commercial services headquarters are in Montvale, New Jersey. Until it discontinued the service, Western Union was the best known US company in the business of exchanging telegrams.
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Because Western Union Money Transfer has been used widely to transfer funds and ... ella villanuevas last blog post..What is the Getmodule30.exe, Getmodule30, ...blog.jammedph.com/a-western-union-money-transfer-scam/The Western Union Company (NYSE: WU) is a financial services and communications company based in the United States. Its North American headquarters is at Englewood, Colorado, and its international marketing and commercial services headquarters are in Montvale, New Jersey. Until it discontinued the service, Western Union was the best known US company in the business of exchanging telegrams.
Western Union has a number of divisions, with products such as person-to-person money transfer, money orders, and commercial services. As of September 9, 2008, the company has 350,000 Western Union agent locations in over 240 countries and territories. Reported revenues top $5 billion annually.
History
Western Union was founded in Rochester, New York, in 1851 as The New York and Mississippi Valley Printing Telegraph Company.
After a series of acquisitions of competing companies by Hiram Sibley and Don Alonzo Watson the company changed its name to Western Union Telegraph Company in 1856 at the insistence of Ezra Cornell, one of the founders of Cornell University, to signify the joining of telegraph lines from coast to coast.
The telegraph was dominated by Western Union, an industrialized monopoly. They were the first communications empire and the beginning of what was to come for the future of communications as it is known today.
When the Dow Jones Transportation Average stock market index for the NYSE was created in 1884, Western Union was one of the original eleven companies tracked.
Western Union became the first American telecommunications corporation to maintain its own fleet of geosynchronous communication satellites, starting in 1974. The fleet of satellites, called Westar, carried communications within the Western Union company for telegram and mailgram message data to Western Union bureaus nationwide. It also handled traffic for its Telex and TWX (Telex II) services. The Westar satellites' transponders were also leased by other companies for relaying video, voice, data, and facsimile (fax) transmissions.
Due to declining profits and mounting debts, Western Union slowly began to divest itself of telecommunications-based assets starting in the early 1980s. Due to deregulation at the time, Western Union began sending money outside the country, re-inventing itself as "The fastest way to send money worldwideSM" and expanding its agent locations internationally.
In the 1980s Western Union organized its cable systems properties and its right-of-way rights of its telegraph lines into a subsidiary called Western Union International. In 1990 it sold this subsidiary to MCI Communications which renamed it to MCI International and moved its headquarters from New York City to Westchester County, New York.
