BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Sprint to spin off its WiMAX business?]]>http://www.bloggingstocks.com/2007/12/06/sprint-to-spin-off-its-wimax-business/http://www.bloggingstocks.com/2007/12/06/sprint-to-spin-off-its-wimax-business/http://www.bloggingstocks.com/2007/12/06/sprint-to-spin-off-its-wimax-business/#commentsFiled under: ,

After Sprint Nextel Corp. (NYSE: S) announced recently it would cease the buildout of its national 4G wireless network that was being constructed with WiMAX technology, many industry pundits wondered where that part of Sprint's business would end up.

After all, the wireless carrier has lost hundreds of thousands of customer in the last four quarters, has booted its CEO amid falling revenues and profits and seems to have lost focus of its core operation -- providing wireless service on its national network (not building a new one with billions of dollars).

Sprint has already dumped quite a bit of cash into the now-on-the-sideline WiMAX end of its business, and several rumors have surfaced on what the company planned to do with it now that it's returning its focus to restoring revenue and profit to its struggling wireless voice business. What to do? How about spin off the WiMAX end into another separate company?

Continue reading Sprint to spin off its WiMAX business?

Sprint to spin off its WiMAX business? originally appeared on BloggingStocks on Thu, 06 Dec 2007 13:22:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>paul salehPaulSalehSSprint NextelSprint WiMAXSprint WiMAX spinoffSprintNextelSprintWimaxSprintWimaxSpinoffWiMAXThu, 06 Dec 2007 13:22:00 EST<![CDATA[Why didn't Sprint and Nextel ever really merge?]]>http://www.bloggingstocks.com/2007/11/27/why-didnt-sprint-and-nextel-ever-really-merge/http://www.bloggingstocks.com/2007/11/27/why-didnt-sprint-and-nextel-ever-really-merge/http://www.bloggingstocks.com/2007/11/27/why-didnt-sprint-and-nextel-ever-really-merge/#commentsFiled under: , ,

When Sprint (NYSE: S) merged with Nextel Corp. in 2005, more than a few wireless industry eyebrows were raised. After all, the combination of then-Cingular and BellSouth was sitting on the horizon and Sprint was most likely desperate to not get left behind. At the time, Verizon Wireless was the largest wireless provider in the U.S. and the newly-combined Cingular/BellSouth venture was poised to raise those stakes. What was Sprint to do? Merge with a company itself.

The problem that would become apparently to everyone except boardroom ninnies was the technical incompatibility of the Sprint and Nextel wireless networks. Is it really economically feasible to operate two overlapping national wireless networks, even if the combined company were to see a combined customer (and revenue) count? That was the promise. It failed, and failed miserably.

Continue reading Why didn't Sprint and Nextel ever really merge?

Why didn't Sprint and Nextel ever really merge? originally appeared on BloggingStocks on Tue, 27 Nov 2007 12:34:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Gary ForseeGaryForseeNextel mergerNextelMergerPaul SalehPaulSalehSSprint mergerSprint NextelSprintMergerSprintNextelWiMAXTue, 27 Nov 2007 12:34:00 EST<![CDATA[Sprint CEO Gary Forsee resigns: Under pressure]]>http://www.bloggingstocks.com/2007/10/08/sprint-ceo-gary-forsee-resigns-under-pressure/http://www.bloggingstocks.com/2007/10/08/sprint-ceo-gary-forsee-resigns-under-pressure/http://www.bloggingstocks.com/2007/10/08/sprint-ceo-gary-forsee-resigns-under-pressure/#commentsFiled under: , ,

sprint ceo gary forseeIt can't be a good thing when a CEO resigns without even the pretense of "spending more time with his family." Sprint-Nextel Corporation (NYSE: S) CEO Gary Forsee has been the focus of investor and analyst anger for some time now; on Friday, the Wall Street Journal reported Sprint management was searching for his replacement and recently, he was targeted by activist investor Ralph Whitworth. In September, Eric Buscemi wondered if his time had run out thanks to his Failure to Turnaround. A whole year following the company's purchase of Nextel, integration was still questionable and EBITDA was forecasted to be billions lower than expected.

According to a statement from Sprint, CFO Paul Saleh will serve as interim CEO while the board finds (finishes finding?) a new CEO. Interestingly, Sprint says it is targeting candidates outside the company. And in what seems to be a "might as well dish all our dirt at once" move, Sprint said it was forecasting a third-quarter net loss of 337,000 post-paid subscribers (the ones who have annual contracts and pay their bills each month).

The news was already cheering up investors; after a nasty drop of 51 cents, or 2.68%, to $18.50 on the day, the stock was up in after-hours trading to $19.05; erasing all the day's losses and then some. The company's stock is near a two-year low.

Sprint CEO Gary Forsee resigns: Under pressure originally appeared on BloggingStocks on Mon, 08 Oct 2007 18:11:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>expire-images:2008-10-7featuredforseegary forseeGaryForseemergernextelpaul salehPaulSalehralph whitworthRalphWhitworthssalehsprintsprint nextelSprintNextelwhitworthMon, 08 Oct 2007 18:11:00 EST