FDC : First Data Corp Message Board

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Technology Stocks : FDC : First Data Corp

FDC 31.69

0.0%

Aug 5 5:00 PM EST

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To: Ben Beale who wrote (232)	1/5/1999 12:26:00 AM
From: Ben Beale	Read Replies (1) of 323

This is fascinating- Or at least Reuters thinks so. For the 8th time in 5 days, Reuters has posted the message: "First Data Corp. (NYSE:FDC - news), a payment systems and information management firm, announced plans on Thursday to close its Innovis consumer credit reporting operations, resulting in a pre-tax charge to earnings of about $145 million for the period ended Dec. 31." For a service that misses at least 50% of all the financial news that's out there, this is blanket coverage. Summing the "news" provided by Reuters since 31 Dec 98 as it appears on Yahoo!, FDC has laid off 1200 employees, vice the 150 actual, and taken a quarterly charge of $1.16 billion, vice the $145 mil. actual. Doesn't the term "news" imply something "new"? How many Innovis units does FDC have available for closure? How many Innovis units does FDC have available for closure anyway? Or is it just closing the same one over and over....?

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