Sprint (S) appointed a new CEO today. He seems to be perfect for the job. The new man, Dan Hesse, comes from the top spot at Embarq (EQ) and used to work at Sprint. He won’t need any time to learn the ropes.
But, the stock is barely up on the news.
Sprint’s problems can’t be fixed in a quarter. It may take a year or two years. It may be that they can’t be fixed at all. That is a depressing comment to make about a company, but some issues become so malignant that they are beyond curing.
Many of Sprint’s customers don’t like the company. It has to maintain two networks. One is for the Nextel customers which the company picked up in the merger. The other is the old Sprint network. The company is thinking about building a third system of fourth generation WiMax high speed wireless. Putting that together is probably a $5 billion investment which will take two years or more.
In the meantime, Sprint is up against AT&T (T) Wireless and Verizon Wireless which is owned by Verizon (VZ) and Vodafone (VOD). Each of the larger companies is adding new customers. Sprint is not. To many people leave Sprint each quarter. There is no reason for the competition to help them with that problem.
Sprint hired the right guy, but he has a very tall mountain to climb in a very short period of time.
Douglas A. McIntyre
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.