Thread: Mexico sees 20% jump in money sent back home

http://www.tucsoncitizen.com/index.php? ... 05d1_remit

Mexico sees 20% jump in money sent back home
The Associated Press
May 9, 2005

MEXICO CITY - Mexicans living abroad sent more than $4 billion home in the first quarter of 2005, a 20 percent increase over the same period a year before, the Bank of Mexico said.
The largest sum of money was sent to western Michoacan state, where residents received $546.2 million in the first three months of the year, according to figures posted in recent days on the Bank of Mexico's Web page.

The remittances are Mexico's second-largest source of foreign income after oil.

Last year, Mexicans sent home $16.6 billion, 24 percent more than in 2003.

Officials believe remittances have been increasing in part because it has become cheaper and easier to send money home.

Of the nearly 11 million people born in Mexico who live abroad, 98 percent are in the U.S.

Officials believe remittances have been increasing in part because it has become cheaper and easier to send money home.

RICO ?

I wonder if we take a look at Western Union if we will notice the increase in money sent to Mexcio reflects in their profits?

JP, I don't know how to go about it, however, their profit MUST SHOW % INCREASE if Mexicans do business with them. {good idea}

Well it does appear that their gross slaes are increrasing. Western Union is owned by First Data Corp.

http://money.excite.com/ht/rs/fin/ai/f/ ... oney/cm/rs

FIRST DATA CORP (FDC)
12/31/04 12/31/03 12/31/02 12/31/01 12/31/00
Sales 10,013.20 8,400.20 7,636.20 6,450.80 5,705.20

Wait a minute........didn't I post something on "First Data".......they're funding something!!

I think it might be one of those Mex groups but I can't remember.
They have a history that's negative.

http://www.alipac.us/ftopict-2556-first.html+data

FIRST DATA Corp. Funding Immigration

HMMMMMMMMM

MY OH MY OH MY

Could it be a CONFLICT OF INTEREST? Hmmmmm
Are they pushing and funding for an underhanded purpose? Hmmmmm