Sprint Stock Sucks
Sprint.The cellular provider routinely shows up on lists of US companies with the worst customer service. That is not among phone companies, it is among all companies. Management did not bother to do a good job meshing its NexTel acquisition with the Sprint network and part of the result is that AT&T and Verizon Wireless walked off with the customers. At this point, there is little evidence that the company is viewed any more positively by its subscribers than it was a year ago. The largest single misstep after the merger occurred when the company's board lost its nerve on the matter of investing in a national WiMax network. It was definitely a gamble, but it could have given Sprint the chance to have a significant lead over its rivals in the business of super-fast wireless broadband. The cost of the roll-out might have been as high as $5 billion. The best indication of the board's error was that Sprint and a number of partners are going ahead with the WiMax deployment, but they have lost almost two years in the process. The capital to underwrite the project should have been raised long ago. In the process, Sprint has lost a great deal of the edge it might have had. A nice $26 stock two years ago, now trades at $8 on a good day.
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