TS2 provides a much more flexible platform for the issuers.

I feel the valuation applied to that business (Western Union) has been severely depressed by being part of the whole First Data. I think the remaining businesses will be a significantly less attractive investment.

They had good gains on sales, which indicates good investment decisions ... their credit quality remains strong and their dividends are steady; all factors seem to indicate their life is OK.

The slow growth rate in the card-issuing business is masking the growth out of the remainder of the company.

We are already seeing the strategic benefits of the Keystone acquisition.

It's always been a kind of spur of the moment thing. If you bring it out all the time, it kind of loses its effect.