The presence of Western Union Gold Card at the client greatly simplifies the process of further processing of money transfers of and reduces the operation time for the sending of money, as the "Gold Card" is a carrier of the personal information about the client. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. Most service points of Western Union work in the time convenient for customers throughout the week and throughout the year. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp. Before transition to remittances Western Union company rendered services on sphere of cable communication. The Western Union Company is a financial services and communications company based in the United States.