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Blum Capital Ups MoneyGram Intl Stake To 21.4% From 20.9% Friday 01/02/2009 4:40 PM ET - FF DOW JONES NEWSWIRES San Francisco-based investment firm Blum Capital Partners LP reported Friday that it has raised its stake in MoneyGram International Inc. (MGI) to 21.4% from 20.9%.
Blum Capital Reports 21.4% MoneyGram Intl Stake
Posts: 4381 | From: houston | Registered: Mar 2006
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MoneyGram Doubles Number of ExpressPayment® Locations in Two Years Thursday December 18, 10:00 am ET Consumers can now access MoneyGram bill payment, prepaid and money transfer services at 40,000 locations nationwide
MINNEAPOLIS--(BUSINESS WIRE)--MoneyGram International, a leading global payment services company, announces it has expanded to 40,000 ExpressPayment® agent locations in the U.S. with the rollout of its payment services at CVS and 7-Eleven stores across the country. MoneyGram agents provide consumers with a variety of payment solutions including urgent bill payment, prepaid card and money transfer services. ADVERTISEMENT
In the past two years, MoneyGram has nearly doubled its number of its ExpressPayment locations, which include prominent retailers such as Walmart, Advance America and Albertsons stores as well as U.S. Bank branch locations. MoneyGram recently completed rolling out its services in 6,200 CVS stores and, through an agreement with Cardtronics, in 2,250 7-Eleven locations.
“The addition of the CVS and 7-Eleven stores allows MoneyGram to provide consumers with more convenient locations to choose from when they need to transfer money, pay bills, reload cards or top up phones,” said Greg Waltz, vice president and general manager of payment products at MoneyGram. “With our robust network of 40,000 ExpressPayment locations, it is likely that a consumer will be able to access MoneyGram’s affordable payment services in their own neighborhood and in the establishments they are likely to frequent on a regular basis.”
Waltz expects more retailers to add financial services in the near future as they seek ways to increase foot traffic and generate revenue. He says retailers are also recognizing an opportunity to serve the growing number of Americans who do not use banks or prefer to pay bills in-person.
“Urgent or same-day bill payment, in particular, is on the rise as more Americans are waiting longer to pay bills and looking for last-minute bill payment alternatives,” said Waltz. “Our agents provide a valued service with our ExpressPayment service that enables consumers to make a same-day, cash payment to MoneyGram’s more than 2,300 direct billers including credit card, telephone, mortgage and auto finance companies.”
About MoneyGram
MoneyGram International, Inc. is a leading global payment services company. The company’s major products and services include global money transfers, money orders and payment processing solutions for financial institutions and retail customers. MoneyGram is a New York Stock Exchange listed company with approximately 162,000 global money transfer agent locations in 180 countries and territories. For more information, visit the company’s website at www.moneygram.com.Posts: 4381 | From: houston | Registered: Mar 2006
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> 13D Filings MONDAY, JANUARY 12, 2009 13D FILINGS
13D Filings
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13Ds are filed with the Securities and Exchange Commission within 10 days of an entity's attaining a 5% or more position in any class of a company's securities. Any subsequent change in holdings or intentions must be reported on an amended filing. This material has been extracted from filings released by the SEC from Jan. 1 through Jan. 7.
Source: Corporate Filings Alert, Washington
Activists
Tier Technologies (TIER) Giant Investment is nominating two representatives for election to Tier Technologies' board at the annual meeting, scheduled for March 11. Giant Investment contends that Tier lacks the necessary scale to continue as an independent public company and that it should explore strategic alternatives. Giant Investment currently holds 1,799,322 shares (9.1% of the total outstanding). (For more on this, see The Activist Spotlight, at left.)
The Activist Spotlight
Tier Technologies (ticker: TIER) Business: Information-technology services Stock-Market Value: $114.5 mil Investor's Average Cost: $8.43 a share. What's Happening: Parthenon Investors nominated two directors for election to the board at the 2009 annual meeting. Parthenon believes that Tier Technologies should aggressively focus on right-sizing its overhead, return excess capital to shareholders and explore strategic alternatives, including a merger or sale, as it lacks the necessary scale to continue as an independent public company. Key Numbers and Dates: 8: Number of directors on the company's board. 12: Number of director candidates expected at the annual meeting (eight on the company's slate, two nominated by Parthenon and two by shareholder Discovery Group). March 11: the date of the annual meeting. Behind the Scenes: Parthenon isn't an activist investor, and this is its first 13D filing. Tier Technologies' bylaws allow for cumulative voting, so Parthenon would need the support of only 12.5% of the shares (3.4%, in addition to its own shares) to receive one board seat. The company's second-largest shareholder, Discovery Group, also has nominated two candidates, and should cumulate their votes in favor of their candidates (they would need the support of an additional 2.6% of shares to win one seat). Additionally, Tier Technologies' two other largest shareholders (which together own 21.2% of the stock), generally don't support shareholder nominees, so it's unlikely that either Discovery or Parthenon will get both of their candidates elected. However, they are each very likely to get one elected, and they have similar views on the changes needed to enhance shareholder value. ________________________________________ This item is by 13D Monitor, a consulting firm specializing in shareholder activism and 13D filings. For a full report, go to www.13Dmonitor.com or call Ken Squire at 212-223-2282.SciClone Pharmaceuticals (SCLN) Sigma-Tau Finanziaria nominated four directors to the board of directors of SciClone. The vote will be held at SciClone's 2009 annual stockholders' meeting. The nominees are Roberto Camerini, Trevor Mervyn Jones, Gregg Lapointe and Alberto Mantovani.
Sigma-Tau Finanziaria currently holds 9,853,261 shares (21.3%).
Original Filings
IntegraMed America (INMD) Shareholders including BlueLine Partners reported ownership of 735,734 shares (8.5%), after buying 349,304 from Dec. 17 to Dec. 23, at prices ranging from $6 to $6.36 a share. Blueline partners, which said that the purchase was made for investment purposes, also said that it has had conversations with IntegraMed regarding "shareholder-value issues," and expects discussions with management to continue.
Barnes & Noble (BKS) Supermarket magnate Ron Burkle's Yucaipa American Management reported ownership of 4,584,313 shares (8.3%), purchased from Nov. 24 to Dec. 31, 2008 at prices that ranged from $13.20 to $16.39.
Increases in Holdings
Media General (MEG) Funds managed by Mario Gabelli's Gamco Investors (GBL) raised their stake to about 6.16 million shares (27.73%) from the 5.92 million (26.64%) that they had reported owning in December.
MoneyGram International (MGI) Blum Capital Partners boosted its position to 17.6 million shares (21.4%), from the 17.2 million (20.9%) that it had reported owning on Dec. 8.
Home Inns & Hotels Management (HMIN) Chinese travel-site operator Ctrip.com International (CTRP) raised its stake to 6.19 million shares (8.72%), from the 5.36 million (7.55%) that it had reported owning on Dec. 10.
Tongjitang Chinese Medicines (TCM) Fosun Industrial increased its holdings to 16,330,112 ordinary shares (12.07%) from 14,445,112 (10.67%). Fosun said that all of its position is made up of American depositary shares, each of which represents four ordinary shares.
Decreases in Holdings
99 Cents Only Stores (NDN) Akre Capital Management reduced its holdings to 7.16 million shares (10.24%), from the 7.88 million (11.3%) it had reported owning on Aug. 21. Last January, Akre Capital urged NDN to formally reevaluate key decisions with "thorough financial analysis and the goal of maximizing intrinsic value per share." In the current filing, Akre said that there has been "no change" since it wrote to the company last year.
Posts: 4381 | From: houston | Registered: Mar 2006
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Up again on a down day. Interesting. Did anyone hear any recent news regarding a takeover?
The last I heard is that Euronet Worldwide Inc ended talks with Moneygram back in Feb. 2008.
Posts: 426 | From: Philadelphia, PA | Registered: Nov 2008
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I agree. Blum must know something or are getting a vibe that something is going to happen.
Posts: 426 | From: Philadelphia, PA | Registered: Nov 2008
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MoneyGram International Adds 13 Countries, 33,000 Locations to Global Money Transfer Network Monday 01/19/2009 8:30 AM ET - Businesswire
Related Companies Symbol Last %Chg MGI 1.22 0.00%
As of 12:00 AM ET 1/16/09 MoneyGram International (NYSE: MGI) today announced that in 2008 the company added 13 countries and territories and more than 33,000 locations to its global network, helping people and communities around the world by providing more convenient choices for safe and reliable money transfer services.
"Our continued growth--both international and domestic--is a reflection of growing consumer demand, fueled by ongoing global migration trends and our ability to deliver value to our customers and agents across the globe," said Tony Ryan, MoneyGram chief operating officer and executive vice president.
"MoneyGram's diverse, global agent network is our competitive advantage," said Ryan. "We will continue to invest in strategic growth by adding agent locations in key growth areas as well as expanding existing agent relationships, and growing our owned-retail presence."
In 2006, in response to business and market needs, MoneyGram launched its owned-retail strategy in France and Germany, and today operates more than 50 stores and kiosks in high-traffic areas in immigrant communities. Half of the countries joining MoneyGram's network last year are French-speaking, reflecting the company's commitment to serving the needs of France's large immigrant population. According to the World Bank, France is a top-five immigration country with 6.5 million immigrants.
"Our growth in France was vital to adding Algeria, which according to the World Bank, produced the largest influx of immigrants into the country," Ryan said. "Today, we have stronger prospects in the country for expansion through more traditional agent locations."
Germany is a similar success story for MoneyGram. The company established service to Serbia this year, which produces a high volume of immigrants to the country. MoneyGram has 30 owned locations strategically located in Germany.
"Network breeds network and feeds both expansions to new countries and increased locations in key areas around the globe," Ryan said. "The more we grow, the more interested retailers, post offices and financial institutions are in seeking our service to expand and grow their own businesses and offer more services to their customers."
Countries and territories added to MoneyGram's global network include the French-speaking Algeria, Central African Republic, Comoros, French Polynesia, Gabon, Madagascar and New Caledonia. Other countries include Angola, Bermuda, Bhutan, Czech Republic, Serbia, and Slovenia.
About MoneyGram International, Inc.
MoneyGram International, Inc. is a leading global payment services company. The company's major products and services include global money transfers, money orders and payment processing solutions for financial institutions and retail customers. MoneyGram is a New York Stock Exchange listed company with approximately 176,000 global money transfer agent locations in 180 countries and territories. For more information, visit the company's website at www.moneygram.com.
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MoneyGram Names New Chairman, CEO After Recapitalization Wednesday 01/21/2009 6:20 PM ET - Dow Jones News
Related Companies Symbol Last %Chg MGI 1.31 0.00%
As of 10:24 AM ET 1/22/09
DOW JONES NEWSWIRES
MoneyGram International Inc. (MGI) named a new chairman and chief executive Wednesday, about seven months after the ailing money-transfer company said its former leader had resigned. The move also comes about 10 months after MoneyGram completed a recapitalization with investors led by Thomas H. Lee Partners and Goldman Sachs Group Inc. (GS). The company appointed Pamela Patsley as chairman and Anthony Ryan as president and chief executive. Ryan, who oversaw the company's day-to-day operations in the interim and is also chief operating officer, was elected to the board. Patsley spent seven years at First Data Corp., most recently as president of its international division. MoneyGram's former chairman and chief executive, Philip W. Milne, resigned in June. Under the recapitalization in March, investors purchased $760 million of Series B and Series B-1 preferred stock, convertible into 79% of the common equity of the company at an initial price of $2.50 a share. MoneyGram also received $500 million in debt financing and an additional $250 million in senior debt financing. Before the recapitalization, the company sold the vast majority of its impaired asset-backed securities, resulting in a loss of about $1.6 billion. It has said it intends to invest mainly in cash and in highly liquid, highly rated short-term government securities, which pay lower returns than riskier asset-backed securities. MoneyGram is the second-largest money-transfer company with about 4% of the market, well behind Western Union Co.'s (WU) 17% but far ahead of other competitors. Shares fell 7.6% in after-hours trading after jumping 8.3% in the regular session. The stock is off 69% over the past year.
-By Lauren Pollock, Dow Jones Newswires; 201-938-5964; lauren.pollock*dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/nae/al?rnd=lonEDYmMi3szTsKMONzhJw%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires 01-21-09 1820ET Copyright (c) 2009 Dow Jones & Company, Inc.
Posts: 4381 | From: houston | Registered: Mar 2006
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I was just reading analysts estimates on MGI. An analyst from Morgan Keegan upgraded MoneyGram in August of 07 at $24 a share. It then fell to .80 a few weeks ago where he then downgraded it to a sell. It now trades at $1.31 and has been recapitalize with the help of Goldman Sachs. This guy is a true idiot in every sense of the word. LoL
Posts: 4381 | From: houston | Registered: Mar 2006
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good call.. are you keeping this one for a wile
-------------------- dont make yourself loose money in a stock that you had a resonable profit in Posts: 520 | From: houstonTX | Registered: Oct 2008
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quote:Originally posted by jdizz: good call.. are you keeping this one for a wile
Indeed. WAY to undervalued. Western Union has a 10 billion market cap. They control 17% of the wired money. Money gram controls 4% but only has a 120 million market cap. I see several 1000% gains here.
Posts: 4381 | From: houston | Registered: Mar 2006
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This is going to be huge. I would put even the smallest of positions here. Market cap is the lowest I’ve seen in years. It’s been thrown out with the bathwater.
Posts: 4381 | From: houston | Registered: Mar 2006
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