Word: easylink
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Western Union has gambled its future on EasyLink, an electronic mail service that zips messages between users of computers. So far, however, the two-year-old EasyLink has been the company's biggest cash drain, consuming more than $110 million in 1984 alone. The electronic mail business suffers from a surplus of competing services, including Federal Express's ZapMail and GTE's Telemail. Few, if any, are making money...
...EasyLink is only one of Western Union's woes. Some of the company's traditional businesses, notably telegrams and telex, remain profitable but have come under pressure from new rivals like in-house corporate message networks. In seeking other opportunities, Western Union has gone off in an unwieldy number of directions. Its ventures have ranged from making mobile- telephone equipment to building ground stations that beam messages to satellites...
Some Wall Street observers expect EasyLink to catch on and rescue Western Union. Many others, though, think the company will eventually have to merge with a corporate giant such as General Motors, which could benefit from direct access to Western Union's worldwide message-sending capabilities...
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