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 . ...
B.S. If both the U.S. and Mexico have fair and equitable trade where both countries can benefit, Western Union can prosper along with everyone else.
Build that wall!
Talking past the sale. Trump mastery.
B.S. article. The U.S. will still be doing business transactions with Mexico.
The wall is the stop Illegal Immigrants.
Yeah, Trump will tax those stage coaches. (Wells Fargo, I know)
If their customers are criminals, then they deserve to lose the business. How can a business, in broad daylight, proudly claim they depend on criminals for their livelihood?
Wells Fargo is one nasty illegal alien pandering bank. We ditched them many years ago.
It can still grow, but the Trump administration will be taking 17.5% to 35%* of all "remittances" to build a wall.
*I pulled those numbers out of thin air. It should be 100% if it comes from an illegal.
IIRC it wasn’t that many years ago Western Union was on the verge of declaring bankruptcy.
Good reason to have someone not in league with Lobbyists!
They would demand it not be touched!
Illegals can not send money.... is all the law we need...
Ridiculous — just more scare tactics to turn people against Trump. Hillary and the Dems aren’t wasting any time.
Hopefully people will know better.
“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.”
Or they could put cash in the mail.
Or a black market develops where illegals pay drug cartels to deliver money back home
The headline is a false conclusion of a faulty premise. The assumption is that “millions” of people are going to be deported and unable to return because of a wall. This will never happen. But they are trying to stick things onto Trump. He may have even said he wants to remove illegal immigrants, but he will most certainly clarify his plan in the general and I would wager that it will not include the round-up of masses of people for deportation.
IMO the best idea he had on this topic, and unfortunately it was a golden nugget lost in a ton of hyperbole and sloppy language, was that if people who came illegally want a path they would have to leave and come back with papers. I cannot speak for Trump obviously and I am not a psychiatrist, but the symbolism of this idea is enormous. If a person’s first task upon entering the country is to break the law, it has to play a part in their view of the country in general. By absolving that crime through a ritual like leaving and coming back the lawful way, it should also instill more pride and more respect for the country and its laws in general, the way people who go through the swearing in ceremony claim to feel.
Cracking down on prostitution hurts the pimps? Who knew?
Or mail a pre-paid debit card, or send money via PayPal, or mail gold coins, etc.
The PayPal and Western Union and Money Gram are the easy ones to capture, but the safest way for the send to be assured the receiver actually receives SOMETHING. Anything going physically will soon become a target for enterprising criminals in Mexico. So it is a matter of finding the tax level where the safety of the transaction is worth paying the tax. 10% on $25B/yr would take 5 years to pay for the wall and thereafter would pay for a tripled Border patrol.
Nothing would please me more than WU’s profits collapse and massive layoffs ensue as the remittance market tanks after President Trump levies a 20% tax (only a 2% tax over 10 years would be needed to fund the wall)
Who gives a rat’s *ss.
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