First Data
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First Data
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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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?
I don't see the US moving a principle credit card printing business off-shore, mostly because of security issues. Â A centrally located location is another plus for Omaha.Stargazer wrote:I personally think that this is BAD BAD BAD news for Omaha. Â The card services group is well publicized as being the least profitable portion of the company. Â KKR is a notorious giant private equity group known for selling off, slashing staff, offshoring to gain a ROI.
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The First Data employee's salary's and jobs might get squeezed, though.
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.
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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- Omaha Cowboy
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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..
..Ciao..LiO....Peace
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..
..Ciao..LiO....Peace
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- TitosBuritoBarn
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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.
First Data to stay in Omaha
First Data to stay in Omaha
http://www.omaha.com/index.php?u_page=1 ... d=10076473
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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Shareholders OK sale of First Data
http://www.omaha.com/index.php?u_page=1 ... d=10092392
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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First Data says deal gets OKs
http://www.omaha.com/index.php?u_page=1 ... d=10113865
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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And so it begins.
First Data will cut (outsource) staff
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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Some of the employees I have talked to think they are going to be ok here in Omaha. Â I am glad I don't have any family working there anymore.
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Private investment group purchases First Data Corp
http://www.omaha.com/index.php?u_page=1 ... d=10140762
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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- TitosBuritoBarn
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OH, all sorts of places.So, where in this town have you NOT worked?
But when you spend time as a contract programmer, you tend to get around. Â 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).
Shoot for the Moon... if you miss, you'll land among the stars.
At least this one was 5 weeks before Christmas not 1 like a year or two ago...
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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.
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.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.
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First Data
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.
Re: First Data
Was wondering when this was going to happen. My portfolio is going to be full of Omaha companies
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Re: First Data
Might be a little while before we actually go public, however.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.
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Re: First Data
Bring the HQ back here!
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Re: First Data
It'll move to New York next most likely.NEDodger wrote:Bring the HQ back here!
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Re: First Data
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.
Re: First Data
Or UNO. A new classroom building or a conversion into dorms.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.
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Re: First Data
You would actually buy stock in FDR?MTO wrote:Was wondering when this was going to happen. My portfolio is going to be full of Omaha companies
Re: First Data
Hèll yes, if nothing else than for the novelty.Omaha_corn_burner wrote:You would actually buy stock in FDR?MTO wrote:Was wondering when this was going to happen. My portfolio is going to be full of Omaha companies
15-17, 26, 32
Re: First Data
I wish they put the last line in the article as the first line, so I wouldn't have wasted my time.
When fortune smiles on something as violent and ugly as revenge, it seems proof like no other that not only does God exist, you're doing his will.
The Bride
The Bride
Re: First Data
Has there been any recent news about First Data that I might have missed?
Re: First Data
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?