First Data

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Stargazer
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First Data

Postby Stargazer » Mon Apr 02, 2007 7:09 am

http://www.omaha.com/index.php?u_page=1 ... id=2358094

The World Herald is reporting that First Data is near an agreement to be bought by Kohlberg Kravis Roberts & Co for $27B... according to the New York Times.

I personally think that this is BAD BAD BAD news for Omaha.  The card services group is well publicized as being the least profitable portion of the company.  KKR is a notorious giant private equity group known for selling off, slashing staff, offshoring to gain a ROI.
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Re: First Data Corp to be bought out?

Postby lonnie » Mon Apr 02, 2007 7:48 am

Stargazer wrote:I personally think that this is BAD BAD BAD news for Omaha.  The card services group is well publicized as being the least profitable portion of the company.  KKR is a notorious giant private equity group known for selling off, slashing staff, offshoring to gain a ROI.
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I don't see the US moving a principle credit card printing business off-shore, mostly because of security issues.  A centrally located location is another plus for Omaha.

The First Data employee's salary's and jobs might get squeezed, though.

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Postby Stargazer » Mon Apr 02, 2007 7:53 am

Of course the time sensitive embossing/printing facilities are safe (in the continental US at least)... however, the high paying developer/administrative jobs which are supporting them are certainly fair game.

I wouldn't be surprised if CSG Systems comes to KKR's attention as well... they already have a history of buying out utilities billing companies.

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Postby TechnicalDisaster » Mon Apr 02, 2007 8:39 am

Edit: Removed Personal Information
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Postby Omaha Cowboy » Mon Apr 02, 2007 8:44 am

This is very unsettling news..

Lets hope the Omaha based card services division, one of 2 800 pound card processing gorillas in the US (the other being Atlanta GA based Total Systems Services), is not moved out of the city..I can't image that happening. But this news makes me very nervous all the same..

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Postby TitosBuritoBarn » Mon Apr 02, 2007 7:28 pm

Has KKR ever taken a company the size of First Data and moved it to another city? While this is a little scary, I'm still sure that the operations will remain here. Over 5000 people work for FDR in Omaha at a dozen different locations. I guess I just don't see the economics in moving that much capital to another place nor a reason for doing so.

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First Data to stay in Omaha

Postby Brad » Thu Jul 12, 2007 9:51 am

First Data to stay in Omaha

http://www.omaha.com/index.php?u_page=1 ... d=10076473

The future chief executive of First Data Corp. said twice Wednesday that there are no plans to sell the Omaha-based credit-card processing unit.

"No, that is not in the current plans," Michael Capellas said.

He cautioned against reading anything into "current" and restated his answer: "No, that is not in the plans."

He added, "I can't predict five years from now."

Capellas came to Omaha a day after the company, based in Greenwood Village, Colo., a Denver suburb, announced that the veteran technology executive will become CEO of First Data Corp. after its acquisition by Kohlberg Kravis Roberts & Co., a private investment firm.

First Data says the deal will close by the end of September.
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Postby Stargazer » Thu Jul 12, 2007 10:44 am

I can't predict five years from now


Yeah, I'm sure KKR is giving him a little more than a few months to pare FDR down to size.  Look out for the blood letting.

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Postby Brad » Wed Aug 01, 2007 7:30 am

Shareholders OK sale of First Data

http://www.omaha.com/index.php?u_page=1 ... d=10092392

As expected, First Data Corp. shareholders have approved a sale of the company to private investment firm Kohlberg Kravis Roberts & Co.

More than 98 percent of the shares voted on the question favored the sale, which would end the company's 15-year run as a publicly traded company. The $29 billion deal is to close in September. Stockholders will get $34 for each share they own.
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Postby Brad » Thu Aug 23, 2007 1:54 pm

First Data says deal gets OKs

http://www.omaha.com/index.php?u_page=1 ... d=10113865

First Data Corp. said Wednesday it has received all the federal and international regulatory approvals it needs for its $26 billion acquisition by an affiliate of Kohlberg Kravis Roberts & Co.

The privately held equity firm offered $34 a share, a premium of about 26 percent over First Data's closing price on March 30. The acquisition is expected to close by the end of September.

First Data shareholders overwhelmingly approved the acquisition in July
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Postby Stargazer » Tue Sep 18, 2007 12:44 am

And so it begins.

First Data will cut (outsource) staff

"We are presently implementing an outsourcing initiative to more efficiently compete on a global scale, better utilize our global talent and footprint, and leverage the labor pool in lower-cost locations," First Data said in the filing on progress in selling the company to private investment firm Kohlberg Kravis Roberts & Co.


The SEC filing also said the consolidation of data and command centers, disclosed earlier, is under way. The company plans to close nine of its 12 data centers and four of its seven command centers in the United States in the next few years.

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Postby Brad » Tue Sep 18, 2007 9:06 am

Some of the employees I have talked to think they are going to be ok here in Omaha.  I am glad I don't have any family working there anymore.
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Postby Brad » Mon Sep 24, 2007 2:11 pm

Private investment group purchases First Data Corp

http://www.omaha.com/index.php?u_page=1 ... d=10140762

The purchase of First Data Corp. by a private investment group has been completed, First Data said today.

The closing met, with several days to spare, the September closing target announced last April.

Kohlberg Kravis Roberts & Co. paid $34 a share for the company, a 26 percent premium to stockholders over the stock's closing price March 30, the last trading day before the deal was announced April 2.

First Data, based in Greenwood Village, Colo., a Denver

suburb, started as a credit-card transaction processor in Omaha

in 1969 and went public in 1992.
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Postby Stargazer » Thu Nov 15, 2007 9:53 am


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Postby TitosBuritoBarn » Thu Nov 15, 2007 11:52 am

FDR cutting jobs is as newsworthy as saying that the College World Series will be here next year. They do it on an annual basis, maybe even semi-annual, I don't remember, and it's always a bunch of people. That's unfortunately how they do business.

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Postby Stargazer » Thu Nov 15, 2007 12:33 pm

I'm a former FDR employee... and I have yet to have been associated with a company where there are not 'seasonal' layoffs.  That said, I expect to see these occur more frequently and in larger numbers under the new ownership.

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Postby joeglow » Thu Nov 15, 2007 2:59 pm

Stargazer wrote:I'm a former FDR employee... and I have yet to have been associated with a company where there are not 'seasonal' layoffs.  That said, I expect to see these occur more frequently and in larger numbers under the new ownership.


So, where in this town have you NOT worked?

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Postby CapitalGuy » Thu Nov 15, 2007 3:41 pm

So, where in this town have you NOT worked?


I am guessing Big E's company.

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Postby Big E » Thu Nov 15, 2007 5:01 pm

CapitalGuy wrote:
So, where in this town have you NOT worked?


I am guessing Big E's company.


Big E's company isn't in this town.   :;):

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Postby Stargazer » Thu Nov 15, 2007 5:12 pm

So, where in this town have you NOT worked?


OH, all sorts of places.

But when you spend time as a contract programmer, you tend to get around.  And you have to remember, I'm a pretty old guy by now, having worked in the field for 24 years now (well, not THAT old... I started young).

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Postby DTO Luv » Thu Nov 15, 2007 5:24 pm

Jeff you babe you! :)
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Postby Brad » Thu Nov 15, 2007 9:01 pm

At least this one was 5 weeks before Christmas not 1 like a year or two ago...
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Postby Uffda » Sat May 17, 2008 9:30 am

400 may lose First Data jobs
About 400 highly paid Omaha programmers will lose their jobs this year when First Data Corp. outsources some of its software programming work, probably to Argentina and Brazil.


The employees said they were told that 80 percent of the people in production programming stood to lose their jobs, which the workers said would be about 400. The first may be gone by the end of July; all probably will lose their jobs by the end of 2008.

Severance pay will be based on salary and years of service, workers said. For example, someone getting $60,000 a year with five years at the company would get six months pay and benefits. Somebody making $120,000 and with five years at the company would get a year's salary and benefits.


I know First Data is always laying people off but if these are high paying salaries in the 60,000 on up range this would have a definite effect on the economy around here.

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Postby DTO Luv » Sat May 17, 2008 5:26 pm

It must be that time of year again. This always seems to happen.
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Postby Stargazer » Sat May 17, 2008 11:40 pm

This is different... KKR in action.  First Data in Omaha will never be the same.

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Postby Uffda » Sun May 18, 2008 12:28 am

Also I have known a couple of people in the past who were laid off and they made nowhere near 60,000. If that is the type of employee they are laying off that is a major wage earner/house/condo owner

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First Data

Postby Coyote » Mon Jul 20, 2015 4:00 pm

Omaha-born First Data plans IPO

Cole Epley: World-Herald staff writer wrote:The Omaha-born credit card-processing firm and employer of 5,000 in the metro area filed a form with the U.S. Securities and Exchange Commission on Monday signaling its intent to conduct an initial public offering of stock.
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Re: First Data

Postby MTO » Mon Jul 20, 2015 4:41 pm

Was wondering when this was going to happen. My portfolio is going to be full of Omaha companies :cheers:
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Re: First Data

Postby MadMartin8 » Mon Jul 20, 2015 4:52 pm

Coyote wrote:Omaha-born First Data plans IPO

Cole Epley: World-Herald staff writer wrote:The Omaha-born credit card-processing firm and employer of 5,000 in the metro area filed a form with the U.S. Securities and Exchange Commission on Monday signaling its intent to conduct an initial public offering of stock.


Might be a little while before we actually go public, however.
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Re: First Data

Postby NEDodger » Mon Jul 20, 2015 8:05 pm

Bring the HQ back here!

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Re: First Data

Postby MadMartin8 » Tue Jul 21, 2015 6:20 am

NEDodger wrote:Bring the HQ back here!


It'll move to New York next most likely.
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Re: First Data

Postby Trips » Mon Jul 27, 2015 2:46 pm

I could see them losing jobs here, not expanding with the the IPO. Their Aksarben location would be a nice building for an employer in the area.

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Re: First Data

Postby RNcyanide » Mon Jul 27, 2015 9:04 pm

Trips wrote:I could see them losing jobs here, not expanding with the the IPO. Their Aksarben location would be a nice building for an employer in the area.


Or UNO. A new classroom building or a conversion into dorms.
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Re: First Data

Postby Omaha_corn_burner » Tue Jul 28, 2015 2:36 pm

MTO wrote:Was wondering when this was going to happen. My portfolio is going to be full of Omaha companies :cheers:

You would actually buy stock in FDR?

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Re: First Data

Postby MTO » Wed Jul 29, 2015 7:43 am

Omaha_corn_burner wrote:
MTO wrote:Was wondering when this was going to happen. My portfolio is going to be full of Omaha companies :cheers:

You would actually buy stock in FDR?


Hèll yes, if nothing else than for the novelty.
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Re: First Data

Postby Coyote » Fri Aug 28, 2015 7:23 am

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Re: First Data

Postby RNcyanide » Fri Aug 28, 2015 7:30 am

I wish they put the last line in the article as the first line, so I wouldn't have wasted my time.
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Re: First Data

Postby Coyote » Tue Sep 22, 2015 10:31 am

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Re: First Data

Postby Trips » Mon Mar 07, 2016 9:01 am

Has there been any recent news about First Data that I might have missed?

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Re: First Data

Postby Trips » Thu Mar 31, 2016 9:36 pm

It was finally announced today that UNO is taking over one of their buildings. Does anyone know how full First Data's other locations are? Could they be cutting jobs?


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