In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. In 1935, Western Union has put into operation first intercity fax communication. The Western Union Company is a leader in global payment services The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - In the summer of 1990 top managers of the Western Union Company spent day and night in the main office in Englewood (Colorado, USA). They needed to meet the challenge: to save the Western Union from bankruptcy, paying off the debts of the company millions of dollars.