"Sprint, based in Overland Park, Kansas, fell 60 cents, or 20 percent, to $2.41 in New York trading today, the most since December 2008. The shares have lost 43 percent this year." -Business Week
*Jaw drops*
Can't say I'm surprised. Sprint has 5.3 billion in cash and credit available and owes $19.8 billion. I dunno who told them to buy Nextel in 2005, a company who had totally different technologies. But that was the nail in their coffin in my opinion.
Sprint is definitely a case of doing too much. I read that they invested almost all their funds into obtaining the I-Phone on their network. Hmmm... I'm definitely not upgrading. I don't want to get stuck with an unusable handset like I did when Cingular and At&t mergered.
I hope Sprint doesn't go under. With Verizon number one and At&t trying to buy T-Mobile, America needs healthy competition in the wireless department.
-Toodles
Mother of three reporting about every other day life. Legggggooooo.
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