Sorry, this is not about layoffs but I have a serious question. With pretty much everything being First Data now (software, people, processes, etc.), why did they not change the name to First Data? I'm not asking this tongue in cheek, I'm really asking why is the company still called Fiserv when everything is First Data? And by now, the stock holders and market all know this by now as well. After two years, that fact is no longer a secret.
13 replies (most recent on top)
Wow yea what's up with no earnings date? Juggling the books?
No earnings date announced yet and it's the 20th? Something is going on and I'm betting it is not good.
Go ahead and pat Frank on the back for "saving" First Data...but the real Fiserv didn't need "saving". Keep telling yourself Fiserv is better now. What a joke.
Excellent analysis of FData and the KKR association - study business mergers and hostile take-overs such as Henry Kravis and the RJR Nabisco fight, BARBARIANS AT THE GATES is an great read. KKR is scum but they k–l a business to load up debt and sell the parts that died. Fiserv thought they were buying First Data ... nope, they were instead bought. Now we know it and all has gone to pieces. Yabuki is doing well though, having turned traitor too.
Newflash - Fiserv DID NOT acquire First Data
Answer is really a simple one. First Data wanted to merge with Fiserv but their name and reputation s—ed. Only two ways to fix that, change your name or merge and adopt the name of the company with the GOOD reputation. Done and done.
You actually ask a very good question. No more complex than Fiserv acquired First Data. Beyond that Fiserv built strong brand equity in the investment world and First Data was kicked around from the KKR LBO in 2007 until Frank arrived in 2013 (after 5 CEO’S failed before him) and saved the company and pulled the KKR investment out of the ditch. Do some research, who is Fiserv’s largest investor? Also who can argue with orange?
I knew why, just wanted the OFD people to say it
So we are living the plot of the movie "The Founder" and we are the character who is his wife?
Had more to do with the reputation of Fiserv stock than what the customers think. Fiserv had a reputation with analysts as a strong performer year over year, and excellent return on investment. First Data had a reputation of high debt load and KKR ownership that would sell large chunks of stock when the price got even a little above average. The concept was take the great reputation of Fiserv stock and combine with the cost cutting efforts of FB and the stock price will soar! I think reality may be coming out a little differently but hey, that is what the smart people that organized this merger thought.
@ytk+18Ro6so2 Gee, I wonder why...
- and how many would leave if they ever found out that Frank and his merry band of OFD tards are running Fiserv now.
Yeah, it had to do with Branding and Fiserv had a stronger brand name. A lot of small business owners didn't like dealing with First Data.
Because the Fiserv name has more respect among our customers