West Corp. Business News

News and releases from metro area businesses

Moderators: Brad, nebugeater, Coyote, Omaha Cowboy

jsheets
Human Relations
Posts: 586
Joined: Tue Jul 06, 2004 12:06 pm
Location: Shadow Lake / Walnut Creek Lake

West Corp. Business News

Postby jsheets » Wed May 31, 2006 7:48 am

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-05-31T132948Z_01_WEN8606_RTRIDST_0_TECH-WESTCORP-TAKEOVER-URGENT.XML
NEW YORK, May 31 (Reuters) - West Corp. (WSTC.O: Quote, Profile, Research) on Wednesday said it agreed to be acquired by an investor group led by Thomas H. Lee Partners and Quadrangle Group LLC in a deal valuing the provider of outsourced communications services at $4.1 billion, including debt.

Omaha, Nebraska-based West said all shareholders, excluding founders Gary and Mary West, would receive $48.75 a share in cash, a 13 percent premium to its closing price Tuesday. The Wests meanwhile agreed to convert 85 percent of their holdings -- a 56 percent stake -- into $42.83 per share in cash and the remainder into shares of the company surviving the merger.

With all shares being bought back, it sounds like West will no longer be a publicly traded company (but someone else would know better than me).

User avatar
Omaha Cowboy
The Don
Posts: 5855
Joined: Wed Jan 07, 2004 5:31 am
Location: West Omaha

Postby Omaha Cowboy » Thu Jun 01, 2006 4:13 am

From the Thursday W-H:

'Ownership of West Corp. may change, but the company says it will be business as usual for employees and clients.

West's employees were notified by e-mail and conference calls Wednesday that the 20-year-old company plans to change from being owned by shareholders who invest through public markets to being owned by private investment companies. The private investors are based in New York and Boston.'..

The complete W-H story link:

http://www.omaha.com/index.php?u_pg=46&u_sid=2181222

..Ciao..LiO....Peace
Go Cowboys!

jsheets
Human Relations
Posts: 586
Joined: Tue Jul 06, 2004 12:06 pm
Location: Shadow Lake / Walnut Creek Lake

Postby jsheets » Thu Jun 01, 2006 8:23 am

That's one less Fortune 1000 (and future Fortune 500) for Omaha.

But I wouldn't be suprised if it goes public after resold in the next couple of years.

lonnie
Library Board
Posts: 283
Joined: Sat Sep 18, 2004 9:30 pm
Location: Douglas County NE

Postby lonnie » Thu Jun 01, 2006 10:07 am

jsheets wrote:That's one less Fortune 1000 (and future Fortune 500) for Omaha.
I don't think the Fortune 500 (or 1000) list requires the company to be a public company.

Cox Communications is #316 on the 2006 list, and COX has been private for a few years. (I was a COX shareholder before they bought it away from me.)

Getting finincal data is a lot harder for Fortune if the company is not public. I assume if they don't cooperate, they are not on the list.

Lonnie

User avatar
nebugeater
County Board
Posts: 5811
Joined: Wed Aug 04, 2004 6:07 pm
Location: Gretna NE

Re: West Corp. sold for $4.1 billion

Postby nebugeater » Wed Jan 07, 2015 4:39 pm

had a friend just post on Facebook that Westcorp cut heads by 2/3 and divested all live call center operations. Anyone know any more
For the record  NEBUGEATER does not equal BUGEATER    !!!!!!!

User avatar
Brad
City Council
Posts: 28077
Joined: Sat Feb 28, 2004 6:03 pm
Location: Omaha, NE
Contact:

Re: West Corp. sold for $4.1 billion

Postby Brad » Wed Jan 07, 2015 4:43 pm

nebugeater wrote:had a friend just post on Facebook that Westcorp cut heads by 2/3 and divested all live call center operations.  Anyone know any more


Interesting. They have to be one of Omaha's larger employers.
Image
Omaha Skyline Photos, Omaha Aerial Photos, and More.
http://www.bradwilliamsphotography.com
http://www.facebook.com/bradwilliamsphotography
@bradwphoto on Twitter
Greater Omaha Chamber of Commerce Member

User avatar
Brad
City Council
Posts: 28077
Joined: Sat Feb 28, 2004 6:03 pm
Location: Omaha, NE
Contact:

Re: West Corp. Business News

Postby Brad » Wed Jan 07, 2015 4:47 pm

Article:
http://money.cnn.com/news/newsfeeds/art ... 114573.htm" onclick="window.open(this.href);return false;

CNN Money wrote:"The divestiture is consistent with the Company's stated objective of focusing on higher growth, more profitable assets," said Tom Barker, chairman and chief executive officer. "We expect this transformative action will result in a faster growing organization with enhanced revenue visibility and reduced customer concentration. We will also become a significantly less labor-intensive company. Approximately 25,300 West employees will move to Alorica and our employee count will go from approximately 35,000 to 9,700."
Image
Omaha Skyline Photos, Omaha Aerial Photos, and More.
http://www.bradwilliamsphotography.com
http://www.facebook.com/bradwilliamsphotography
@bradwphoto on Twitter
Greater Omaha Chamber of Commerce Member

Louie
Library Board
Posts: 373
Joined: Fri Dec 23, 2011 4:23 pm
Location: Park Ave>NW Omaha>Millard

Re: West Corp. Business News

Postby Louie » Wed Jan 07, 2015 9:20 pm

For the employees switching to Alorica, is that a local move? Or will they be relocated elsewhere?

User avatar
Brad
City Council
Posts: 28077
Joined: Sat Feb 28, 2004 6:03 pm
Location: Omaha, NE
Contact:

Re: West Corp. Business News

Postby Brad » Thu Jan 08, 2015 9:42 am

West Corp. to sell several business units; 3,000-plus Omaha workers expected to keep jobs

http://www.omaha.com/money/west-corp-to ... eafdf.html" onclick="window.open(this.href);return false;

Barbara Soderlin / World-Herald staff writer wrote:The sale will affect about two-thirds of the company’s more than 3,000 Omaha workers. West informed employees of the news Wednesday by email, and a spokesman said the company does not anticipate any of its Omaha workers will lose their jobs in the transition.
Image
Omaha Skyline Photos, Omaha Aerial Photos, and More.
http://www.bradwilliamsphotography.com
http://www.facebook.com/bradwilliamsphotography
@bradwphoto on Twitter
Greater Omaha Chamber of Commerce Member

User avatar
guitarguy
Parks & Recreation
Posts: 1292
Joined: Thu Sep 27, 2007 1:39 am
Location: New York City..Soon To Be Omaha
Contact:

Re: West Corp. Business News

Postby guitarguy » Fri Jan 09, 2015 7:44 pm

Well thats some pretty good news!
mountzenith New Album Releasing This Week.. Download For Free Here

User avatar
jessep28
Planning Board
Posts: 2307
Joined: Wed Sep 03, 2008 4:10 pm
Location: Omaha Metro Area

Re: West Corp. Business News

Postby jessep28 » Fri Jan 09, 2015 8:22 pm

Telemarketing is high turnover and people mostly complain about their company on the internet when reviewing them, but this new company has about the same rating as West Corp.
Verbum Domini Manet in Aeternum

Linkin5
County Board
Posts: 3782
Joined: Tue Feb 10, 2004 7:59 pm

Re: West Corp. Business News

Postby Linkin5 » Sat Jan 10, 2015 9:17 am

jessep28 wrote:Telemarketing is high turnover and people mostly complain about their company on the internet when reviewing them, but this new company has about the same rating as West Corp.



West is bottom of the barrel when it comes to telemarketing jobs, they have a pretty awful business structure from what I have seen/talked to people that worked there.

GRANDPASMUCKER
Human Relations
Posts: 805
Joined: Tue Mar 11, 2014 3:10 pm
Location: Omaha

Re: West Corp. Business News

Postby GRANDPASMUCKER » Sat Jan 10, 2015 4:56 pm

Linkin5 wrote:
jessep28 wrote:Telemarketing is high turnover and people mostly complain about their company on the internet when reviewing them, but this new company has about the same rating as West Corp.



West is bottom of the barrel when it comes to telemarketing jobs, they have a pretty awful business structure from what I have seen/talked to people that worked there.


This company was born by dealing from the bottom of the barrel. How could we forget the fact that the Wests sold this company for millions in the 80's to First Data or American Express and then came back a year later and weaseled around the NO COMPETE CLAUSE and stole all their old clients back essentially getting away with highway robbery. Steve Idleman did the exact same thing. If I was the new buyer I would be afraid that West will try it again.

User avatar
skinzfan23
County Board
Posts: 4940
Joined: Mon Feb 09, 2004 11:26 am
Location: Omaha/Bellevue

Re: West Corp. Business News

Postby skinzfan23 » Wed Mar 23, 2016 8:47 am

Alorica plans will add 600 workers 
to its Omaha call center operations

Alorica, which last year purchased West Corp.’s Omaha-area call center operations, said it plans to hire 600 additional full-time workers this year, bringing its local employee total to 2,400.
The Irvine, California-based company now employs 1,800 at its seven Omaha call centers.

User avatar
choke
Human Relations
Posts: 643
Joined: Sun Nov 01, 2015 8:46 am
Location: North Omaha

West Corporation

Postby choke » Wed Nov 02, 2016 10:23 am

West Corporation seeks strategic alternatives. Another Omaha company bites the dust. West Corp., a Fortune 1000 company, employs 1,000 Omahans, for now. Stay tuned.

User avatar
Coyote
City Council
Posts: 20004
Joined: Tue Nov 18, 2003 11:18 am
Location: Three floors down
Contact:

Re: Another one bites the dust....

Postby Coyote » Wed Nov 02, 2016 11:31 am

"To maximize long-term shareholder value." and |expletive| the people who actually work.
Image

User avatar
iamjacobm
City Council
Posts: 8652
Joined: Sat Apr 10, 2010 6:52 am
Location: Midtown

Re: West Corp. Business News

Postby iamjacobm » Wed Nov 02, 2016 12:44 pm

I am not suggesting that these businesses leaving have anything to do with the R or D in front of our Governor or Mayor. I will guarantee that there would be impeachment cries like crazy if we still had a D Mayor that "lost" ConAgra or West, considering that every D mayor for over a decade faced impeachment challenges. As little influence as they have on these happenings Ricketts and Stothert's legacies could be tied to thousands of job losses in our city and state, it comes with the territory of public office.

Our state is facing a billion dollar revenue gap and is looking like it will be losing a lot more of our corporate and income tax. Going to be a really interesting decade...

User avatar
choke
Human Relations
Posts: 643
Joined: Sun Nov 01, 2015 8:46 am
Location: North Omaha

Re: West Corp. Business News

Postby choke » Wed Nov 02, 2016 1:10 pm

In all fairness. CONAgra was a mess and what can you do if West Corp. is antiquated technology? You'd hope some of the West infrastructure remains in Omaha.

User avatar
iamjacobm
City Council
Posts: 8652
Joined: Sat Apr 10, 2010 6:52 am
Location: Midtown

Re: West Corp. Business News

Postby iamjacobm » Wed Nov 02, 2016 1:24 pm

choke wrote:In all fairness. CONAgra was a mess and what can you do if West Corp. is antiquated technology? You'd hope some of the West infrastructure remains in Omaha.


That is why I prefaced my comment. The reality is that the reaction here would be to blame a D Mayor if this happened under their watch is all I am saying.

MadMartin8
Planning Board
Posts: 2009
Joined: Sun Mar 11, 2012 12:48 pm
Location: Beyond Thunderdome

Re: West Corp. Business News

Postby MadMartin8 » Wed Nov 02, 2016 2:40 pm

Didn't a large chunk of West get bought by Alorica anyways?
No posts exist for this topic

User avatar
choke
Human Relations
Posts: 643
Joined: Sun Nov 01, 2015 8:46 am
Location: North Omaha

Re: West Corp. Business News

Postby choke » Wed Nov 02, 2016 4:52 pm

iamjacobm wrote:
choke wrote:In all fairness. CONAgra was a mess and what can you do if West Corp. is antiquated technology? You'd hope some of the West infrastructure remains in Omaha.


That is why I prefaced my comment. The reality is that the reaction here would be to blame a D Mayor if this happened under their watch is all I am saying.


Certainly. I also agree with Coyote though. West is putting their share holders above a 1000 employees' jobs. Talk about having no conscious. Even CONAgra showed some compassion even if it wasn't sincere.

User avatar
choke
Human Relations
Posts: 643
Joined: Sun Nov 01, 2015 8:46 am
Location: North Omaha

Re: West Corp. Business News

Postby choke » Fri Feb 03, 2017 8:10 am

Per Russell Hubbard / World-Herald staff writer:

West Corp. declines to give more info on strategic alternatives


Tom Barker, the chief executive of the Omaha-based communications services company, said on a conference call with analysts and investors that the company is “deeply engaged” in the process it announced last year. But that was it: Barker said no further comment would be forthcoming on that process.

GRANDPASMUCKER
Human Relations
Posts: 805
Joined: Tue Mar 11, 2014 3:10 pm
Location: Omaha

Re: West Corp. Business News

Postby GRANDPASMUCKER » Fri Feb 03, 2017 8:35 am

choke wrote:
iamjacobm wrote:
choke wrote:In all fairness. CONAgra was a mess and what can you do if West Corp. is antiquated technology? You'd hope some of the West infrastructure remains in Omaha.


That is why I prefaced my comment. The reality is that the reaction here would be to blame a D Mayor if this happened under their watch is all I am saying.


Certainly. I also agree with Coyote though. West is putting their share holders above a 1000 employees' jobs. Talk about having no conscious. Even CONAgra showed some compassion even if it wasn't sincere.



West and Idleman telemarketing were two of the most slimey and ruthless companies that ever existed in Omaha! Both companies were started by Gary West and Steve Idleman after they sold their companies for millions to American Express and signed non compete agreements. Less then a year after selling their firms both Gary West and Steve Idleman reopened under their wives names and began stealing their former clients and former employees back. Idleman promised a bunch of the employees he stole that he would make them millionaires if they came and joined him. :roll: I think most of those employees never got squat from Idleman and are lucky if they could afford a sack lunch today much less be worth millions.


Return to “Business”

Who is online

Users browsing this forum: No registered users and 1 guest