Hikmet Ersek Net Worth is5.3 $Million
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Company Name: The Western Union Company
Company Type: Public company
Traded As: WU, S&P 500
Foundation: 1851
Founder: Ezra Cornell
Location: Englewood, Colorado, United States
Key People: Jack M. Greenberg,
Industry: Financial services
Services: Wire transfers, Money orders
Revenue: url
Operating Income: net income
Assets: equity
Num Employees: 7,000 (December 2010) Homepage: [http://www.westernunion.com/ WesternUnion.com]
The Western Union Company is a financial services and communications company based in the United States. Its North American headquarters is in Englewood, Colorado. Up until it discontinued the service in 2006, Western Union was the best-known U.S. company in the business of exchanging telegrams.[citation needed]
Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services.
Western Union, as an industrialized monopoly, dominated the telegraph industry in the late 19th century. It was the first communications empire and set a pattern for American-style communications businesses as they are known today.
In 1851, the New York and Mississippi Valley Printing Telegraph Company was organized in Rochester, New York by Hiram Sibley and others, with the goal of creating one great telegraph system with unified and efficient operations. Meanwhile, Ezra Cornell had bought back one of his bankrupt companies and renamed it the New York & Western Union Telegraph Company. Originally fierce competitors, by 1855 both groups were finally convinced that consolidation was their only alternative for progress. The merged company was named The Western Union Telegraph Company at Cornell's insistence, and Western Union was born.
Western Union bought out smaller companies rapidly, and by 1860 its lines reached from the East Coast to the Mississippi River, and from the Great Lakes to the Ohio River. In 1861 it opened the first transcontinental telegraph. In 1865 it formed the Russian American Telegraph in an attempt to link America to Europe, via Alaska, into Siberia, to Moscow. (This project was abandoned in 1867.) The company enjoyed phenomenal growth during the next few years. Its capitalization rose from $385,700 in 1858 to $41 million in 1876. However it was top-heavy with stock issues, and faced growing competition from several firms, especially the Atlantic and Pacific Telegraph Company--it

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Hikmet Ersek Latest News

Western Union Advances Commitment to Global Refugee Crisis Launching Company-wide Global Initiative Supporting Economic Opportunities

During a White House Call-to-Action meeting today in New York, Western Union CEO, Hikmet Ersek reaffirmed exploring the opportunity to use Western Union’s cross-border platform, marketplace voice, charitable giving and talent to help refugees participate ...
Posted: September 20, 2016, 3:16 am

Western Union uses its scale to take on startups

the chief executive told CNBC. Fintech start-ups such as TransferWise and WorldRemit are challenging companies such as Western Union by claiming to offer cheaper and faster online money transfers. But Hikmet Ersek, CEO of Western Union, said that the ...
Posted: April 6, 2016, 8:03 am

Western Union Co. (WU) Receives Consensus Recommendation of “Hold” from Brokerages

The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hikmet Ersek sold 276,127 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was ...
Posted: October 13, 2016, 10:39 am
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