In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. 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. Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.