Posted on 05/03/2016 8:24:59 PM PDT by Trumpinator
Trump Wall Plan Could Stunt Western Union's Fast-Growing Mexico Business
By Emily StewartFollow | 05/03/16 - 04:26 PM EDT
Donald Trump's plan to deport all illegal immigrants and build a wall at the southern U.S. border and make Mexico pay for it could cause some collateral damage, including to cash transfer company Western Union (WU - Get Report) .
The Englewood, Colo.-based company sees a significant chunk of its business come from Latin America and the Caribbean, as well as Mexico. Latin America and the Caribbean comprised about 11% of Western Union's revenues in the first quarter, and Mexico, which it includes in its North America figures, is 4%. Most revenues are derived from funds being transferred out of the U.S., also known as remittances.
"Mexico for us continued to grow faster than the rest of the market," said Western Union Chief Financial Officer Raj Agrawal. "We're pleased on the overall growth there."
(Excerpt) Read more at . ...
Oh noes! The money-changers can’t get a percentage of their usuary! I must retire to my fainting couch
That’s business we don’t need to grow.
After the wall is built, it will level off.
Good!
Eggs, omelets, etc.
I first saw the very, very earliest suggestions for using Western-Union to tax Mexico RIGHT HERE ON FREEREPUBLIC..!
Over 6 years ago...!
I used to work for MoneyGram. We could have wiped out illegal immigration with one law that you must be in a country legally to wire money. There were all kinds of laws and regulations we had to abide by, but that was not one.
could you check the link?
Aiding and abetting crime on a massive scale - Western Union could easily be shut down on RICO grounds, if anyone at DoJ had any loyalty to the United States.
At $ 24-billion a year that’s being wired from the U.S. to Mexico, you could build a wall just by stacking up all the money.
You mean...money xferred to Mexico is couriered across the border? The wall will be electron-tight?
I don’t think so. If there comes to be a small tax on remittances, then what are the remitters going to do, return to Mexico where the wages are so much higher?
Besides, is the security of the nation supposed to be beholden to the revenue projections of one company?
you mean WU is going to be hurt?!?!!
Bernie! Bernie! lol
Get the #$ out of here WU. Your sending dollars out of the country days are coming to an end soon
LOL
The elites have likely been skimming the top off of these transfers, for some time. Just like they have off of all of the social programs. Gravy train coming to a stop.
...... HAHAHA ..... Considering most of that money is US dollars going into Mexico and parts unknown ...... GOOD!!!
..... Keep America Green!
What a shame.
I’ll do Western Union a favor and trade them my assets for theirs.
Sorry about that: http://www.thestreet.com/story/13555411/1/donald-trump-immigration-and-wall-plans-would-be-a-blow-to-western-union.html
Tax the hell out of any Western Union money transfers to Mexico.
That will either help pay for the wall or force illegals to ride or drive
themselves back to Metico to deliver their money personally.
And that gets them out of our country and back into their country.
So western Union is admitting it is making a ton of money from Illegals sending American money from American jobs back to Mexico. That money is not being spent for American anything.
Anyhow here is the math I wanted to do:
WU total annual revenue: $5.5 billion
Percent that is remittances to Mexico: 4%
%5,500,000,000 * .04 = $220,000,000
The Great Wall of Trump will cost $10 billion....
Thus, charging a 4.5% fee on every dollar sent from the US to Mexico by one company alone (WU) will generate enough money to pay for the wall in just one year.
Factor in Moneygram and Paypal and the fee could probably drop to around 2%. Built that wall!
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