Spanx, Inc. is a U.S. company that mainly manufactures footless pantyhose and other undergarments for women, particularly "body shaping" undergarments and bodysuit shapewear intended to give the wearer a slim and shapely appearance. They have been endorsed by celebrities like Oprah Winfrey and Miranda Lambert.[1]
About 5.4 million Spanx power panties have been sold since the year 2000, and the global retail sales for Spanx products exceeded $750 million for 2008.[2]
Company founder Sara Blakely received the Ernst & Young Entrepreneur of the Year Award in 2002, and appeared on Fox's 2004 reality television show titled The Rebel Billionaire: Branson's Quest for the Best. She has also appeared on the second season of American Inventor as a panel judge. She is a member of the Atlanta chapter of Entrepreneurs' Organization.
Sprint Nextel Corporation (Sprint) is a US-based provider of wireless and wireline communications products and services. It offers CDMA wireless services on a wholesale basis to the major resellers in the US over its CDMA network. It also offers digital wireless services under Nextel brand employing integrated Digital Enhanced Network, or iDEN technology. The company serves as a reseller for Clearwire Corporation’s WiMAX wireless services. The company has classified its business services through two reportable segments namely, Wireline and Wireless. Sprint is headquartered at Reston, Virginia, US. In December 2009, the company acquired iPCS, Inc. for about USD 831 million
Jones Day represented Sprint Nextel Corporation in its acquisition of next generation wireless infrastructure equipment to be used to upgrade Sprint’s nationwide wireless network. The transaction involved the purchase of equipment and implementation services from Samsung, Alcatel-Lucent and Ericsson. The project includes the purchase of multi-modal base stations capable of supporting advanced 3G and 4G technologies (i.e., LTE and WiMax). The implementation of the equipment will take several years and upon completion, by many accounts, will result in Sprint having one of the most advanced wireless networks in the United States.
Sprint’s projection of the total deal value is confidential. The total estimated incremental cost of the Network Vision program during the deployment period is between $4 billion and $5 billion. This deal is widely thought to be the largest single purchase of telecommunications equipment and services ever. Sprint estimates that the upgrade will save Sprint $11 billion over the next seven years in operating expenses by allowing Sprint to cut its roaming costs and eliminate cell towers that support Sprint’s iDEN network.
One novel aspect of this transaction was the competitive bidding process whereby numerous potential providers participated in a real-time, electronic reverse auction. In consultation with Sprint, Jones Day created the initial terms and conditions, including all exhibits containing the product specifications, service levels and other business requirements, which were provided to all potential suppliers prior to the auction. Potential suppliers were instructed to bid to those terms and conditions. During the three-day reverse auction, potential suppliers submitted bids on various equipment and service components using an electronic auction tool. Bidders were allowed to see competitor’s bids but did not know competitor’s identity. Potential suppliers could then determine if they needed to bid lower to be more price competitive.
Sprint Nextel Corp. discontinued offering pension benefits to its employees Jan. 1, a spokesman said Friday.
The move by Sprint Nextel, which employs more than 800 locally, will shift the burden to employees to save
for retirement through a 401(k) program the company offers.
"It gives associates increased flexibility to manage their retirement and also allows us to have success in the
marketplace," Sprint Nextel spokesman David Gunasegaram said Friday.
Employees who have a pension will not lose their balance, Gunasegaram said, but they will not be able to earn
any additional pension benefits starting in 2006.
"It's not like the money goes away," he said.
Sprint Nextel's 401(k) program provides a dollar-for-dollar match of as much as 5 percent of an employee's
contributions.
Before merging with Nextel Communications Inc. in August 2005, Sprint Corp. reported a pension liability of
$4.5 billion in its 2004 annual report. Nextel did not have a pension plan.
Sprint contributed $300 million to its pension fund in 2004 and 2005, according to the annual report. The report
said the company expected to pay out pension benefits of $177 million in 2005, $180 million in 2006 and $1.7
billion between 2007 and 2014.
It is unclear where those balances stand today and how much of the pension liability will be shifted to Sprint
Nextel's local phone spinoff, which employs several thousand unionized employees.
The spinoff, which will have 5,000 local employees and 20,000 total, will continue to have both 401(k) and
pension benefits.
Sprint Corp. and Nextel Communications Inc. received full regulatory approval from federal authorities in
August to complete a $36 billion merger to create Sprint Nextel Corp. (NYSE: S).
About 5.4 million Spanx power panties have been sold since the year 2000, and the global retail sales for Spanx products exceeded $750 million for 2008.[2]
Company founder Sara Blakely received the Ernst & Young Entrepreneur of the Year Award in 2002, and appeared on Fox's 2004 reality television show titled The Rebel Billionaire: Branson's Quest for the Best. She has also appeared on the second season of American Inventor as a panel judge. She is a member of the Atlanta chapter of Entrepreneurs' Organization.
Sprint Nextel Corporation (Sprint) is a US-based provider of wireless and wireline communications products and services. It offers CDMA wireless services on a wholesale basis to the major resellers in the US over its CDMA network. It also offers digital wireless services under Nextel brand employing integrated Digital Enhanced Network, or iDEN technology. The company serves as a reseller for Clearwire Corporation’s WiMAX wireless services. The company has classified its business services through two reportable segments namely, Wireline and Wireless. Sprint is headquartered at Reston, Virginia, US. In December 2009, the company acquired iPCS, Inc. for about USD 831 million
Jones Day represented Sprint Nextel Corporation in its acquisition of next generation wireless infrastructure equipment to be used to upgrade Sprint’s nationwide wireless network. The transaction involved the purchase of equipment and implementation services from Samsung, Alcatel-Lucent and Ericsson. The project includes the purchase of multi-modal base stations capable of supporting advanced 3G and 4G technologies (i.e., LTE and WiMax). The implementation of the equipment will take several years and upon completion, by many accounts, will result in Sprint having one of the most advanced wireless networks in the United States.
Sprint’s projection of the total deal value is confidential. The total estimated incremental cost of the Network Vision program during the deployment period is between $4 billion and $5 billion. This deal is widely thought to be the largest single purchase of telecommunications equipment and services ever. Sprint estimates that the upgrade will save Sprint $11 billion over the next seven years in operating expenses by allowing Sprint to cut its roaming costs and eliminate cell towers that support Sprint’s iDEN network.
One novel aspect of this transaction was the competitive bidding process whereby numerous potential providers participated in a real-time, electronic reverse auction. In consultation with Sprint, Jones Day created the initial terms and conditions, including all exhibits containing the product specifications, service levels and other business requirements, which were provided to all potential suppliers prior to the auction. Potential suppliers were instructed to bid to those terms and conditions. During the three-day reverse auction, potential suppliers submitted bids on various equipment and service components using an electronic auction tool. Bidders were allowed to see competitor’s bids but did not know competitor’s identity. Potential suppliers could then determine if they needed to bid lower to be more price competitive.
Sprint Nextel Corp. discontinued offering pension benefits to its employees Jan. 1, a spokesman said Friday.
The move by Sprint Nextel, which employs more than 800 locally, will shift the burden to employees to save
for retirement through a 401(k) program the company offers.
"It gives associates increased flexibility to manage their retirement and also allows us to have success in the
marketplace," Sprint Nextel spokesman David Gunasegaram said Friday.
Employees who have a pension will not lose their balance, Gunasegaram said, but they will not be able to earn
any additional pension benefits starting in 2006.
"It's not like the money goes away," he said.
Sprint Nextel's 401(k) program provides a dollar-for-dollar match of as much as 5 percent of an employee's
contributions.
Before merging with Nextel Communications Inc. in August 2005, Sprint Corp. reported a pension liability of
$4.5 billion in its 2004 annual report. Nextel did not have a pension plan.
Sprint contributed $300 million to its pension fund in 2004 and 2005, according to the annual report. The report
said the company expected to pay out pension benefits of $177 million in 2005, $180 million in 2006 and $1.7
billion between 2007 and 2014.
It is unclear where those balances stand today and how much of the pension liability will be shifted to Sprint
Nextel's local phone spinoff, which employs several thousand unionized employees.
The spinoff, which will have 5,000 local employees and 20,000 total, will continue to have both 401(k) and
pension benefits.
Sprint Corp. and Nextel Communications Inc. received full regulatory approval from federal authorities in
August to complete a $36 billion merger to create Sprint Nextel Corp. (NYSE: S).
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