Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. 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. In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. Most service points of Western Union work in the time convenient for customers throughout the week and throughout the year. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. 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. 1970 - a new service called Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.