Sprint Nextel Corporation (NYSE: S) is a telecommunications company based in Overland Park, Kansas. The company owns and operates Sprint, the third largest wireless telecommunications network in the United States, with 49.9 million customers, behind Verizon Wireless and AT&T Mobility.
Sprint is a global Internet carrier and makes up a portion of the Internet backbone. In the United States, the company is the third largest long distance provider and also owns a majority of Clearwire, which operates the largest wireless broadband network.
The company was renamed in 2005 with the purchase of Nextel Communications by Sprint Corporation. The company continues to operate using two separate wireless network technologies, CDMA and iDEN (for Nextel and some Boost Mobile subscribers). In 2006, the company spun off its local landline telephone business, naming it Embarq (which was subsequently acquired by CenturyTel). In 2009, Sprint reached an agreement to outsource management of its wireless networks to Ericsson.
Sprint Nextel launched its first WiMAX wireless card on December 21, 2008 (The Franklin Wireless u300 broadband card), and the first WiMAX phone available in the United States (The HTC Evo 4G) on June 4, 2010, utilizing its WiMAX technology from Clearwire Corp. A recent Consumer Reports survey tied Sprint with perennial front-runner Verizon Wireless in terms of customer satisfaction, a big improvement over previous years.
The Sprint Nextel Corporation (“Sprint Nextel”) Board of Directors (“Board”) oversees the
management of Sprint Nextel for the benefit of its owners, the shareholders. Corporate
governance is one of the important ways the Board carries out those oversight duties. The
Board and management recognize that the interests of our shareholders are advanced by
responsibly addressing the interests of our shareholders, customers, employees,
communities, suppliers and other relevant stakeholders.
Sprint Nextel is committed to responsible and responsive corporate governance. The formal
requirements pertaining to Sprint Nextel’s corporate governance structure are contained in
Sprint Nextel’s Amended and Restated Articles of Incorporation (“Articles of Incorporation”)
and Amended and Restated Bylaws (“Bylaws”), as well as in applicable state and federal
laws and regulations and stock market regulations. The Board has adopted the following
guidelines to guide it in performing its functions and to provide insight into Sprint Nextel’s
system of corporate governance.
Sprint Nextel Corporation, incorporated in 1938 under the laws of Kansas, is mainly a holding company,
with its operations primarily conducted by its subsidiaries. Our Series 1 voting common stock trades on the New
York Stock Exchange (NYSE) under the symbol “S.” Sprint Nextel Corporation and its subsidiaries (“Sprint,”
“we,” “us,” “our” or the “Company”) is a communications company offering a comprehensive range of wireless
and wireline communications products and services that are designed to meet the needs of individual consumers,
businesses, government subscribers and resellers. Our operations are organized to meet the needs of our targeted
subscriber groups through focused communications solutions that incorporate the capabilities of our wireless and
wireline services. We are the third largest wireless communications company in the United States based on the
number of wireless subscribers, one of the largest providers of wireline long distance services and one of the
largest carriers of Internet traffic in the nation. Our services are provided through our ownership of extensive
wireless networks and a global long distance, Tier 1 Internet backbone.
We offer wireless and wireline voice and data transmission services to subscribers in all 50 states,
Puerto Rico and the U.S. Virgin Islands under the Sprint corporate brand which includes our retail brands
consisting of Sprint®, Nextel®, Boost Mobile®, Virgin Mobile® and Assurance WirelessSM on networks that
utilize code division multiple access (CDMA), integrated Digital Enhanced Network (iDEN), or internet protocol
(IP) technologies. We utilize these networks to offer our wireless and wireline subscribers differentiated products
and services whether through the use of a single network or a combination of these networks. Through our
partnership with Clearwire Corporation and its subsidiary Clearwire Communications LLC (together
“Clearwire”), and their development of a fourth generation (4G) network utilizing Worldwide Interoperability for
Microwave Access (WiMAX) technology, we are establishing ourselves as a leader in the deployment of nextgeneration
wireless broadband services. We offer wireless services on a post-paid and prepaid payment basis to
retail subscribers and also on a wholesale basis.
On November 9, 2009, we entered into an investment agreement with Clearwire to contribute an
additional $1.176 billion increasing our ownership percentage to 56% as of December 31, 2009 and enhancing
Clearwire’s ability to further its 4G network buildout. To strengthen our position in the growing prepaid market,
we completed our acquisition of Virgin Mobile USA, Inc. (VMU) on November 24, 2009. In addition, on
December 4, 2009, we completed the acquisition of iPCS, Inc. (iPCS). iPCS was previously a Sprint PCS
affiliate that sold services under the Sprint® brand name and in Sprint-branded stores
Sprint advertises their new 4G phones like the Evo 4G. 4G service promises to allow the customer to use the phone and utilize the mobile network on the phone at the same time. Sprint charges an additional $10 per month for this service. HOWEVER, Sprint customer service representatives state they do not guarantee 4G service even in areas where they have 4G coverage. The Evo 4G does not offer the user the ability to talk on the phone and search the web or other websites for a nearby restaurant or find other information while on the phone.
This is the entire selling point for these phones, yet Sprint does not guarantee this service. Sprint also offers a "HotSpot" service to provide WiFi to your computer. This "HotSpot" rarely works either. Sprint has further changed all of their corporate numbers so that customers can not reach anyone to escalate problems with their device or service. Their customer service representatives go through the same routine over and over.
"Ok, lets try a hard reset of the phone." which loses data, photos, phone numbers, email accounts and everything else on the phone and has to be re-entered as it was when the phone first came out of the box. There is currently a class action law suit in progress for this exact reason. Advertising a 4G phone that does not provide 4G service is FRAUD! Then when you finally get fed up with paying over $150 per month for inferior service, they want to charge you an early termination fee.
Sprint is a global Internet carrier and makes up a portion of the Internet backbone. In the United States, the company is the third largest long distance provider and also owns a majority of Clearwire, which operates the largest wireless broadband network.
The company was renamed in 2005 with the purchase of Nextel Communications by Sprint Corporation. The company continues to operate using two separate wireless network technologies, CDMA and iDEN (for Nextel and some Boost Mobile subscribers). In 2006, the company spun off its local landline telephone business, naming it Embarq (which was subsequently acquired by CenturyTel). In 2009, Sprint reached an agreement to outsource management of its wireless networks to Ericsson.
Sprint Nextel launched its first WiMAX wireless card on December 21, 2008 (The Franklin Wireless u300 broadband card), and the first WiMAX phone available in the United States (The HTC Evo 4G) on June 4, 2010, utilizing its WiMAX technology from Clearwire Corp. A recent Consumer Reports survey tied Sprint with perennial front-runner Verizon Wireless in terms of customer satisfaction, a big improvement over previous years.
The Sprint Nextel Corporation (“Sprint Nextel”) Board of Directors (“Board”) oversees the
management of Sprint Nextel for the benefit of its owners, the shareholders. Corporate
governance is one of the important ways the Board carries out those oversight duties. The
Board and management recognize that the interests of our shareholders are advanced by
responsibly addressing the interests of our shareholders, customers, employees,
communities, suppliers and other relevant stakeholders.
Sprint Nextel is committed to responsible and responsive corporate governance. The formal
requirements pertaining to Sprint Nextel’s corporate governance structure are contained in
Sprint Nextel’s Amended and Restated Articles of Incorporation (“Articles of Incorporation”)
and Amended and Restated Bylaws (“Bylaws”), as well as in applicable state and federal
laws and regulations and stock market regulations. The Board has adopted the following
guidelines to guide it in performing its functions and to provide insight into Sprint Nextel’s
system of corporate governance.
Sprint Nextel Corporation, incorporated in 1938 under the laws of Kansas, is mainly a holding company,
with its operations primarily conducted by its subsidiaries. Our Series 1 voting common stock trades on the New
York Stock Exchange (NYSE) under the symbol “S.” Sprint Nextel Corporation and its subsidiaries (“Sprint,”
“we,” “us,” “our” or the “Company”) is a communications company offering a comprehensive range of wireless
and wireline communications products and services that are designed to meet the needs of individual consumers,
businesses, government subscribers and resellers. Our operations are organized to meet the needs of our targeted
subscriber groups through focused communications solutions that incorporate the capabilities of our wireless and
wireline services. We are the third largest wireless communications company in the United States based on the
number of wireless subscribers, one of the largest providers of wireline long distance services and one of the
largest carriers of Internet traffic in the nation. Our services are provided through our ownership of extensive
wireless networks and a global long distance, Tier 1 Internet backbone.
We offer wireless and wireline voice and data transmission services to subscribers in all 50 states,
Puerto Rico and the U.S. Virgin Islands under the Sprint corporate brand which includes our retail brands
consisting of Sprint®, Nextel®, Boost Mobile®, Virgin Mobile® and Assurance WirelessSM on networks that
utilize code division multiple access (CDMA), integrated Digital Enhanced Network (iDEN), or internet protocol
(IP) technologies. We utilize these networks to offer our wireless and wireline subscribers differentiated products
and services whether through the use of a single network or a combination of these networks. Through our
partnership with Clearwire Corporation and its subsidiary Clearwire Communications LLC (together
“Clearwire”), and their development of a fourth generation (4G) network utilizing Worldwide Interoperability for
Microwave Access (WiMAX) technology, we are establishing ourselves as a leader in the deployment of nextgeneration
wireless broadband services. We offer wireless services on a post-paid and prepaid payment basis to
retail subscribers and also on a wholesale basis.
On November 9, 2009, we entered into an investment agreement with Clearwire to contribute an
additional $1.176 billion increasing our ownership percentage to 56% as of December 31, 2009 and enhancing
Clearwire’s ability to further its 4G network buildout. To strengthen our position in the growing prepaid market,
we completed our acquisition of Virgin Mobile USA, Inc. (VMU) on November 24, 2009. In addition, on
December 4, 2009, we completed the acquisition of iPCS, Inc. (iPCS). iPCS was previously a Sprint PCS
affiliate that sold services under the Sprint® brand name and in Sprint-branded stores
Sprint advertises their new 4G phones like the Evo 4G. 4G service promises to allow the customer to use the phone and utilize the mobile network on the phone at the same time. Sprint charges an additional $10 per month for this service. HOWEVER, Sprint customer service representatives state they do not guarantee 4G service even in areas where they have 4G coverage. The Evo 4G does not offer the user the ability to talk on the phone and search the web or other websites for a nearby restaurant or find other information while on the phone.
This is the entire selling point for these phones, yet Sprint does not guarantee this service. Sprint also offers a "HotSpot" service to provide WiFi to your computer. This "HotSpot" rarely works either. Sprint has further changed all of their corporate numbers so that customers can not reach anyone to escalate problems with their device or service. Their customer service representatives go through the same routine over and over.
"Ok, lets try a hard reset of the phone." which loses data, photos, phone numbers, email accounts and everything else on the phone and has to be re-entered as it was when the phone first came out of the box. There is currently a class action law suit in progress for this exact reason. Advertising a 4G phone that does not provide 4G service is FRAUD! Then when you finally get fed up with paying over $150 per month for inferior service, they want to charge you an early termination fee.
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