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Prospector
Profile
118-04
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| MoneyGram International, Inc. |
NAICS |
522390 |
| 1550 Utica Avenue South
Minneapolis, MN 55416 |
Description |
Money Transmission Services |
| (952) 591-3000 |
Employees |
2076 |
| http://www.moneygram.com/index.htm |
Revenue |
(mil) |
1159.5590 |
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Income |
(mil) |
124.0540 |
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Assets |
(mil) |
9276.1370 |
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Liability |
(mil) |
8607.0740 |
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(for the year ended 2006-12-31) |
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Category:
Loss/Deficit
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Event:
MoneyGram International, Inc. disclosed in a regulatory filing with the SEC that it has completed the valuation of its investment portfolio as of Nov. 30, 2007, and has experienced additional net unrealized losses of $571 million from Sept. 30, 2007, bringing cumulative net unrealized losses to $860 million. According to the company, the additional losses largely result from deterioration in the value of the company's holdings of asset-backed securities, which were negatively impacted by changes in the credit ratings of the securities or the underlying collateral supporting these securities. The Company has also engaged in exclusive negotiations with an investment group led by Thomas H. Lee Partners L.P. concerning a comprehensive recapitalization of the company. The negotiations, currently contemplate a transaction pursuant to which the company would receive a capital infusion of both equity and debt capital, comprised of approximately $750-850 million of equity from the Investors and approximately $550-750 million of new debt facilities from third parties.
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Intellectual Property:
The Company's U.S. patents have in the past given them competitive advantages in the marketplace, including a number of patents for automated money order dispensing systems and printing techniques. It also has patent applications pending in the United States that relate to money transfer, money order, PrimeLink and bill payment technologies and business methods. The Company anticipates that these patents will give continued competitive advantages in the marketplace. The Company also maintains a portfolio of trademarks representing substantial goodwill in its businesses. Many of the trademarks, including the MoneyGram®, ExpressPayment®, the globe with arrows logo, PrimeLink®, PrimeLinkplus®, AgentConnect®, DeltaWorks®, and Delta T3® marks have substantial importance and value to its business. [SEC Filing 10-K 03-01-07]
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Description:
MoneyGram International is a 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.
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Officers:
Philip W. Milne (Pres. & CEO); David J. Parrin (EVP & CFO); David A. Albright (EVP & Chief Information Officer); Mary A. Dutra (EVP); Teresa H. Johnson (EVP, Sec. & Gen. Counsel); William J. Putney (EVP & Chief Investmer Officer); Anthony P. Ryan (EVP); Cindy J. Stemper (EVP)
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Auditor:
Deloitte & Touche LLP
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Securities:
Common Stock-Symbol MGI; NYSE;
82,871,794 common shares outstanding as of August 3, 2007.
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