Western Union 2009 Annual Report Download - page 16
Download and view the complete annual report
Please find page 16 of the 2009 Western Union annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6 -
7 -
8 -
9 -
10 -
11 -
12 -
13 -
14 -
15 -
16 -
17 -
18 -
19 -
20 -
21 -
22 -
23 -
24 -
25 -
26 -
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
 |
 |
• failure to maintain sufficient amounts or types of regulatory capital to meet the changing
requirements of our regulators worldwide;
• our ability to maintain our agent network and business relationships under terms consistent with or
more advantageous to us than those currently in place;
• failure to implement agent contracts according to schedule;
• deterioration in consumers’ and clients’ confidence in our business, or in money transfer providers
generally;
• failure to manage credit and fraud risks presented by our agents, clients and consumers or non-
performance by our banks, lenders, other financial services providers or insurers;
• any material breach of security of or interruptions in any of our systems;
• adverse rating actions by credit rating agencies;
• liabilities and unanticipated developments resulting from litigation and regulatory investigations and
similar matters, including costs, expenses, settlements and judgments;
• failure to compete effectively in the money transfer industry with respect to global and niche or
corridor money transfer providers, banks and other money transfer services providers, including
telecommunications providers, card associations, card-based payment providers and electronic and
internet providers;
• our ability to protect our brands and our other intellectual property rights;
• our failure to manage the potential both for patent protection and patent liability in the context of a
rapidly developing legal framework for intellectual property protection;
• cessation of various services provided to us by third-party vendors;
• changes in industry standards affecting our business;
• changes in accounting standards, rules and interpretations;
• our ability to attract and retain qualified key employees and to manage our workforce successfully;
• significantly slower growth or declines in the money transfer market and other markets in which we
operate;
• adverse consequences from our spin-off from First Data Corporation;
• decisions to downsize, sell or close units, or to transition operating activities from one location to
another or to third parties, particularly transitions from the United States to other countries;
• decisions to change our business mix;
• catastrophic events; and
• management’s ability to identify and manage these and other risks.
2