Thread: Immigrants are big business

Monday November 26, 2007
Immigrants are big business
Western Union has profited by sending money home
ARMED with Morse code and the hot technology of the age, Western Union set out in 1851 to build an empire. In 10 years, it linked the United States from coast to coast.


But by 1992, the Internet age had arrived, and telegrams were as relevant as stagecoaches. The company sought protection in bankruptcy court.

Western Union emerged from insolvency two years later to focus on its money transfer service, and it’s anything but bankrupt now, as Jason DeParle of the New York Times outlined recently.

From 320,000 locations worldwide, Western Union cultivates and caters to the world’s migrants, legal and illegal, helping them safely send money home.

In doing so, the company has become a mighty force again. It earns almost $1 billion a year.

“With five times as many locations worldwide as McDonalds, Starbucks, Burger King and Wal-Mart combined, Western Union is the lone behemoth among hundreds of money transfer companies,â€

We have to hold these CEOs accountable. They should not be profiting from people here illegally.