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Technology Stocks : FDC : First Data Corp
FDC 31.690.0%Aug 5 5:00 PM EST

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To: Uncle Mikey who wrote (142)12/6/1997 12:22:00 PM
From: Gullapalli  Read Replies (1) of 323
 
FDC - First Data Corporation was spun off byRobinson (three sticks) of American Express to save himself from the disatrous mistakes he made in buying Shearson, Lehman and subsequently firing Sandy Weill. Robinson is out of American Express and Sandy is now the king of the heap (runs Travelers which bought Searson). Back to FDC. They specialized in the back office work for Credit Card issuers. It is also in mutual fund accounting, Share Holder Accounting and Benefits administartion. It has an excelent data processing center, the primary reason MSFT teamed up for bill payment. The joint venture with MSFT (MSFDC) competes with the likes of CheckFree (CKFR). Go to CKFR thread to learn more about bill payments. FDC is a solid investment for any time and not for trading.
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