Sprint Nextel Corporation

Landline (in order of size). Main article: History of banking. Wireless (in order of size). has acquired Bank One Corp., making the combined 6/30/04 deposit total for the merged company $377 billion, vaulting it to second place on the list. Sprint Nextel also holds naming rights to the Sprint Center in Kansas City, Missouri. Morgan Chase & Co. It is expected that the name of the series will be changed to the Sprint Cup for 2007. (1) Since this report, J.P.

Sprint Nextel is the major title sponsor of NASCAR’s top racing series, called the NEXTEL Cup. based global banks. Below are some of those companies which Sprint Nextel has agreed to acquire:. This is not a ranking of the largest U.S. In several cases the newly formed company was forced to acquire affiliated companies in exchange for them dropping their opposition of the merger. deposits only. Some had even threatened to push for the outright blocking of the merger.[3] In order for Sprint Nextel to allay some of this opposition by affiliates, they were forced to initiate discussions of either acquiring some of these affilates or renegotiate existing agreements. These are U.S.

Following the announcement of the merger agreement, some of of these affiliates came forward with a strong opposition to the Sprint Nextel merger on the grounds that the merged company may violate existing agreements or significantly undercut earnings to these affiliates. As of June 30, 2004. Prior to the merger, the Sprint Corporation and Nextel Communications were dependent on a network of affiliated companies. The banks' main obstacles to increasing profits are existing regulatory burdens, new government regulation, and increasing competition from non-traditional financial institutions.
. NII Holdings owns Nextel-branded networks in many Latin American countries, under license by Sprint Nextel, which owns 18% of that company. Banks make money from card products through interest payments and fees charged to consumers and companies that accept the cards. According to documentation filed earlier by Sprint, iDEN was, at that time, to be sold. However, with convenience there is also increased risk that consumers will mis-manage their financial resources and accumulate excessive debt.

By 2010, Sprint Nextel plans to absorb the Nextel brand into the Sprint PCS brand. These products make it easier for consumers to conveniently make transactions and smooth their consumption over time (in some countries with under-developed financial systems, it is still common to deal strictly in cash, including carrying suitcases filled with cash to purchase a home). Currenty Sprint PCS has a push-to-talk service called ReadyLink which is based on the SIP VoIP protocol but cannot currently make or receive calls with the iDEN based PTT system. These products include debit cards, pre-paid cards, smart-cards, and credit cards. The new push to talk platform will be based on Qualcomm's Qchat product, which has been under development between Nextel and Qualcomm since January 2002. Third, they have sought to increase the methods of payment processing available to the general public and business clients. The push-to-talk feature with which Nextel has gained its fame is also expected to be released on the CDMA network in 2006 when Sprint deploys their successor to the first phase of their high speed wireless network EV-DO. This dramatically helps to offset the losses from bad loans, lowers the price of loans to those who have better credit histories, and extends credit products to high risk customers who would have been denied credit under the previous system.

However, Sprint Nextel has assured its customers that both the current iDEN and CDMA technologies will continue to be supported and that dual-band phones are being researched to work on both networks simultaneously. Second, they have moved toward risk based pricing on loans, which means charging higher interest rates for those people who they deem more risky to default on loans. Initially, speculation that current Nextel subscribers would be required to replace their existing handsets due to incompatibility between Nextel technology and Sprint technology was put forth. Merging banking, investment, and insurance functions allows traditional banks to respond to increasing consumer demands for "one stop shopping" by enabling cross-selling of products (which, the banks hope, will also increase profitability). subscribers, particularly popular in the south. First, this includes the Gramm-Leach-Bliley Act, which allows banks again to merge with investment and insurance houses. The Nextel brand has over 18.5 million U.S. In the past 10 years in the United States, banks have taken many measures to ensure that they remain profitable while responding to ever-changing market conditions.

A downside of this sole-source (Motorola) and proprietary standard has been a lack of innovation in handset size and weight, compared to mobile telephony industry trends, though this too is changing. industries combined. Some of Nextel's special features include its push to talk feature, which simulates the half-duplex operation of a two-way radio. Now if Citigroup were to be as dominant in its industry as a Home Depot, Starbucks, or Wal Mart in their respective industries, with a 30 percent market share , it would make more money than the top ten non-banking U.S. Unlike other cellular operators, Nextel utilizes the specialized mobile radio band (SMR) and was one of the first operators in the United States to offer a national digital cellular coverage footprint. For example, the largest bank, Citigroup, which for the past 3 years has made more profit than any other company in the world, has only a 5 percent market share. Nextel is the former wireless brand of NEXTEL Communications, and it operates on Motorola's iDEN protocol that uses time division multiple access (TDMA) technology. This amount is even higher if one counts the credit divisions of companies like Ford, which are responsible for a large proportion of those company's profits.

SprintPCS also offers WiFi 802.11 service in some major airports, cafes, hotels and convention centers. Large banks in the United States are some of the most profitable corporations, especially relative to the small market shares they have. Sprint also has more roaming agreements then any other US carrier, *offering service in more then 150 countries World Wide. Specific concerns are policies that permit banks to hold deposited funds for several days, policies that permit banks to apply withdrawals before deposits, policies that permit applying withdrawals from greatest to least, which is most likely to cause the greatest overdraft, policies that allow backdating funds transfers and fee assessments, and policies that authorize electronic funds transfers despite an overdraft. Giving them the largest coverage area of any US carrier. Currently, many people are outraged due to various banking policies that take advantage of consumers. Along with 295 Million through roaming agreements (290 Million with a Digital Only phone). Jackson fought against the bank as a symbol of greed and profit-mongering, antithetical to the democratic ideals of the United States.

Sprint also covered over 250 Million people in the US on it's own native network. In United States history, the National Bank was a major political issue during the presidency of Andrew Jackson. At the end of Q105, there were Sprint 28 million wireless subscribers. There is almost always a lender of last resort—in the event of a liquidity crisis (where short term obligations exceed short term assets) some element of government will step in to lend banks enough money to avoid bankruptcy. (See Merger of Sprint and NEXTEL section above) [2]. Another reason banks are thoroughly regulated is that ultimately, no government can allow the banking system to fail. Alamosa PCS is the largest of its affiliate carriers, the others are Ubiquitel, iPCS, Shentel, Enterprise, Northern PCS, and Swiftel. In addition, banks are usually required to purchase deposit insurance to make sure smaller investors are not wiped out in the event of a bank failure.

In most cases, these affiliate carriers are transparent to the end user or consumer. Major banks are subject to the Basel Capital Accord promulgated by the Bank for International Settlements. In exchange, the smaller companies receive usage of Sprint's brand, radio spectrum, customer service and billing. The amount of capital a bank is required to hold is a function of the amount and quality of its assets. These smaller companies, in agreement with Sprint, build network infrastructure as well as operate retail stores. The combination of the instability of banks as well as their important facilitating role in the economy led to banking being thoroughly regulated. Sprint Nextel maintains its nationwide PCS presence with the help of affiliates. Savings and Loan crisis in 1980s and early 1990s, the Japanese banking crisis during the 1990s, and the bank run that occurred during the Great Depression,and the recent liquidation by the central Bank of Nigeria.where about 25 banks were liquidated.

Qualcomm collects royalties for anything related to Code Division Multiple Access (CDMA). Prominent examples include the U.S. GSM's upgrade path of UMTS *Wide-Band Code Division Multiple Access (W-CDMA) is based on the CDMA protocal. Banking crises have developed many times throughout history when one or more risks materialize for a banking sector as a whole. CDMA 1X data speeds can reach 144 Kbps, while EV-DO has speeds of 2 Mbps. Risks include liquidity risk (the risk that many depositors will request withdrawals beyond available funds), credit risk (the risk that those that owe money to the bank will not repay), and interest rate risk (the risk that the bank will become unprofitable if rising interest rates force it to pay relatively more on its deposits than it receives on its loans), among others. The speeds will be slower on the 1X network though. Banks are susceptible to many forms of risk which have triggered occasional systemic crises.

Unlike Verizon's EV-DO offering, Sprint's Power Visions content is available off of Sprint's EV-DO network. Even where the reserve ratio is not controlled by the government, a minimum figure will still be set by regulatory authorities as part of bank regulation. It is currently being offered in 41 states in the US. Some governments (or their central banks) restrict the proportion of a bank's balance sheet that can be lent out, and use this as a tool for controlling the money supply. Sprint's EV-DO (Power Visions) offering includes Sprint TV, Sprint Radio (Both Streaming and SIRIUS Satellite Music ) Stations, Sprint's Music Store, Sprint On-Demand, Unlimited Web Access, Video and Picture Mail, Wireless Chat, Games and More. This behaviour is called fractional-reserve banking and it is a central issue of monetary policy. They expect to spend over two and one half billion dollars upgrading the existing network to EV-DO technology. Bank reserves are typically kept in the form of a deposit with a central bank.

Sprint is currently rolling out a higher speed wireless network using EV-DO technology. It must keep a certain proportion of its funds in reserve so that it can repay depositors who withdraw their deposits. The Sprint PCS network operates a 3G wireless network, using the 1xRTT standard, which is part of the Code Division Multiple Access (CDMA) standard. However, it would not be prudent for a bank to lend out all of its balance sheet. Sprint PCS is the main wireless brand of Sprint Nextel, and was the main brand of the former Sprint Corporation. The bank then lends out most of these funds to borrowers. The company also continues to reinforce the idea of a combination of brand strengths on several levels of marketing including a voice over exclaiming "Sprint, together with Nextel" or "Nextel, together with Sprint" as a way to play on the idea of a merger of equals. A bank raises funds by attracting deposits, borrowing money in the inter-bank market, or issuing financial instruments in the money market or a capital market.

[1]. They act as Lender of last resort in event of a crisis. The logo is a blend of the former Sprint "pin drop" marketing image as well as the colors of Nextel's bright yellow and black logo design with its cellular service level bars that, from past marketing would get 'typed' from a single vertical black line. Central banks are non-commercial bodies or government agencies tasked with responsibility for controlling interest rates and money supply across the whole economy. The new logo of the Sprint Nextel Corporation was one of the first attempts at seamlessly meshing the initial brands of both the Sprint Corporation and NEXTEL Communications. In some jurisdictions retail and investment activities are, or have been, separated by law. On September 1, 2005, Sprint Nextel combined plan offerings of its Sprint PCS and Nextel brands to bring more uniformity across the company's offerings. However, some are owned by government, or are non-profit making.

Analysts speculate that Sprint Nextel will acquire additional affiliates. Most banks are profit-making, private enterprises. In 2005, Sprint Nextel acquired three of its wireless affiliates, US Unwired (deal closed in August), Gulf Coast Wireless (deal closed in October), and IWO Holdings (deal closed in October). Banks' activities can be characterised as retail banking, dealing direct with individuals and small businesses, and investment banking, relating to activities on the financial markets. The new local phone company will be the fifth largest local exchange carrier in the United States (under the Baby Bells) and the largest independent local provider, serving customers in 18 states and providing local, long distance and high-speed data services to residential and business customers. Although the type of services offered by a bank depends upon the type of bank and the country, services provided usually include:. Sprint Nextel is expected to spin off its local telephone division into a separate company officially named Embarq Corporation and traded on the New York Stock Exchange under the symbol EQ. .

Sprint Nextel has also announced other upcoming MVNO partnerships, including ESPN, Movida Wireless, and Disney. In recent history, with historically low interest rates a limited ability to earn money by lending deposited funds, much of a bank's income is provided by overdraft fees and riskier investments. Current MVNOs using the PCS network to provide coverage include Virgin Mobile, EarthLink, Working Assets, Telispire, Excel Wireless, STI Mobile, Liberty, Powernet Global, Platinum Tel, ConnexOne, and Qwest. Traditionally, a bank generates profits from transaction fees on financial services and on the interest it charges for lending. The MVNOs resell wireless services using their own brand. Money lenders in Northern Italy originally did business in open areas, or big open rooms, with each lender working from his own bench or table. Sprint Nextel wholesales capacity on its PCS wireless network to companies called Mobile Virtual Network Operators (MVNO); this means the MVNO uses the Sprint PCS network for coverage. The terms bankrupt and "broke" are similarly derived from banca rotta, which refers to an out-of-business bank, having its bench physically broken.

Sprint Nextel also offers pre-paid services through the Boost Mobile brand, and it provides services in the Philippines through the Next Mobile brand. The word bank is derived from the Italian banca, which is derived from German language and means bench. It is also a provider of landline, long distance, business telecommunications, and Tier 1 internet service provider under the name SprintLink. Banks have a long history, and have influenced economies and politics for centuries. Sprint Nextel currently offers cellular phone service under its Sprint PCS and Nextel brands. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-banking financial company. Nextel is known for its free incoming call plan. Banking licenses are granted by bank regulatory authorities and provide rights to conduct the most fundamental banking services such as accepting deposits and making loans.

Other affiliates have also filed lawsuits against Sprint Nextel. Currently the term bank is generally understood as an institution that holds a banking license. Sprint Nextel has made a settlement with an affiliate named Ubiqutel that Sprint won't be providing any Nextel service within the Ubiqutel service limits. A bank is an institution that provides financial service, particularly taking deposits and extending credit. These regional affiliates felt that the new company would be violating non-compete agreements that the former companies had made with the affiliates. Imperial Bank of Persia — History of banking in the Middle-East. Sprint and NEXTEL both faced opposition to the merger, mostly from regional affiliates that provide wireless services on behalf of the companies. United States Banking.

Sprint Nextel was officially formed on August 12, 2005, when the deal was completed. Swiss bank. The FCC placed a condition on the merger that Sprint Nextel is to provide wireless service within the 2.5 GHz band within the next four years. Bank of America — The invention of centralized check and payment processing technology. Department of Justice on August 3, 2005. Bank of England — The evolution of modern central banking policies. The merger deal was approved by the Federal Communications Commission (FCC) and U.S. Bank of Sweden — The rise of the national banks.

Sprint and NEXTEL shareholders overwhelmingly approved the merger on July 13, 2005. Bank of Amsterdam. 5 leading providers in the US mobile phone industry. Banknotes — Introduction of paper money. 3 and No. Florentine banking — The Medicis and Pittis among others. At the time of the merger announcement Sprint and NEXTEL were the No. — 64 billion.

While billed as a merger of equals, the transaction was actually the purchase of NEXTEL Communications by Sprint Corporation. National City Corp. On December 15, 2004, Sprint and NEXTEL announced they would merge to form Sprint Nextel Corporation. BB&T Corporation — 67 billion. NEXTEL was formerly traded on the NASDAQ under the ticker "NXTL". — 78 billion. Mark Warner, a former Virginia Governor and possible 2008 presidential candidate was one of the company's co-founders. SunTrust Banks, Inc.

In 1995, wireless pioneer Craig McCaw became a significant investor in the company. Bancorp — 112 billion. O'Brien, a Washington, DC, communications attorney, and changed its name to NEXTEL Communications in 1993. U.S. NEXTEL was founded as FleetCall in 1987 by Morgan E. — 150 billion (1). In 2005, Sprint merged by buying out competitor Nextel, forming Sprint Nextel,. Bank One Corp.

(FON meaning "Fiber Optic Network", which was Sprint's bragging right.). — 193 billion. In April 2004, the separately traded wireless tracking stock, "PCS", was absorbed into the New York Stock Exchange (NYSE) "FON" ticker, Sprint's former ticker. Citigroup Inc. In 2003, Sprint began recombining their local telecom, long distance, wireline, and wireless business units into a new company, marketing the combined company as "One Sprint". — 227 billion (1). However the deal did not go through because of pressure from the United States Department of Justice and the European Union on concerns of it creating a monopoly. Morgan Chase & Co.

The deal would have been the largest corporate merger in history at the time. J.P. On October 5, 1999 Sprint and MCI WorldCom announced a $129 Billion dollar merger agreement between the two companies. — 238 billion. In 1995, the company began to offer wireless service under the Sprint PCS brand. Wachovia Corp. That same year United Telecom changed its name to Sprint (dropping the US). — 256 billion.

In 1991 United Telecom completed its acquisition of US Sprint. Wells Fargo & Co. In 1989 United Telecom purchased controlling interest in US Sprint. — 526 billion. This was a partnership owned by GTE and United Telecom. Bank of America Corp. In 1986, Sprint was merged with US Telecom (the long distance arm of United Telecom) to form US Sprint. Merrill Lynch — 4 billion.

Southern Pacific Communications became part of GTE in 1982. Morgan Stanley — 5 billion. Some claim it was a acronym for "Southern Pacific Railroad Information NeTwork or Switched PRIvate Network Telecommunications.". Wachovia — 5 billion. According to company employees, Sprint was a name chosen by a contest sponsored within the company by Rex Hollis, the VP of Marketing at the time. UBS AG — 6 billion. Prior attempts at offering long distance service were disapproved by the Federal Communications Commission, though the company's fax service (SpeedFAX) had been permitted. JP Morgan Chase — 7 billion.

The Railroad had extensive rights of way that could be used to lay long-distance communications. Wells Fargo — 7 billion. Southern Pacific Communications Company (SPCC), a unit of the Southern Pacific Railroad began offering their dial-up service shortly after the Execunet II decision late in 1978. Royal Bank of Scotland — 8 billion. That company changed its name to United Telecommunications in 1972, as it began to offer a more diversified product range. HSBC — 10 billion. In the mid 20th century, Brown changed its name to United Utilities. Bank of America — 15 billion.

The company was a landline telephone company that operated as a competitor to the Bell System. Citigroup — 21 billion. The Sprint Corporation was founded in 1899 by Cleyson Brown under the Brown Telephone Company in the small town of Abilene, Kansas. Mitsubishi Tokyo Financial Group — 832 billion. . BNP Paribas — 835 billion. The company maintains operational headquarters in Overland Park, Kansas. ING Group — 843 billion.

The new company, formerly known as Sprint Corporation, was created from the $35 billion purchase of NEXTEL Communications by Sprint, though the entire deal was billed as a merger of equals. Fannie Mae — 888 billion. It also operates landline and long distance business, as well as several units that provide businesses and governments with communications services. Deutsche Bank — 892 billion. With 45.6 million subscribers, under the Sprint PCS and Nextel brands—behind Cingular Wireless and Verizon Wireless. Sumitomo Mitsui Financial Group — 903 billion. based on total wireless customers. UBS — 907 billion.

It operates the third largest wireless network in the U.S. Allianz — 1,002 billion. With a combined market cap of *$68.99 billion as of early 2006. Citigroup — 1,097 billion. Sprint Nextel Corporation (NYSE: S), headquartered in Reston, VA, is one of the largest telecommunications companies in the World. Mizuho Financial Group — 1,265 billion. Qwest. BNP Paribas — 35 billion.

Verizon. HBOS — 36 billion. AT&T (recent merger of SBC and AT&T). Mizuho Financial Group — 39 billion. Cellular. Mitsubishi Tokyo Financial Group — 40 billion. U.S. Royal Bank of Scotland — 43 billion.

Alltel. Credit Agricole Group — 63 billion. T-Mobile. Bank of America — 64 billion. Verizon Wireless. HSBC — 67 billion. Cingular. JP Morgan Chase — 69 billion.

Once completed the Nextel Partners deal will add more than 2 million customers directly to the Sprint Nextel company. Citigroup — 73 billion. [8]. Also, deposit makers earn a share of the Bank’s profit as opposed to a predetermined interest. [7] finally reach an agreement for a $6.5B deal where the Sprint Nextel Corporation will acquire the largest of Nextel's affilates to end Nextel Partners' opposition to any changes by Sprint in relation to the NEXTEL merger. Instead of interest, the Bank earns profit (mark-up) and fees on financing facilities that it extends to the customers. December 21, 2005: Sprint Nextel Corporation and Nextel Partners, Inc. Since the concept of Interest is forbidden in Islam, all banking activities must avoid interest.

[6] - (velocitawireless.com). Islamic banking revolves around several well established concepts which are based on Islamic canons. The transaction will enhance the iDEN network's 900 MHz spectrum position. Islamic banks adhere to the concepts of Islamic banking. December 16, 2005: Sprint Nextel announces acquisition of non-affiliate Velocita Wireless. In Europe and Asia, big banks are very diversified groups that, among other services, distribute also insurance, whence the bancassurance term. December 16, 2005: Sprint Nextel announces a $98 million agreement to acquire Enterprise Communications of Columbus, Georgia, thus adding over 52,000 customers to the company's PCS Wireless division.[5]. Almost all large financial institutions are diversified and engage in multiple activities.

Potentially adding an additional 1.48 million customers to Sprint Nextel. For example, Citigroup, a very large American bank, is involved in commercial and retail lending; it owns a merchant bank (Citicorp Merchant Bank Limited) and an investment bank (Salomon Smith Barney); it operates a private bank (Citigroup Private Bank); finally, its subsidiaries in tax-havens offer offshore banking services to customers in other countries. acquisition agreement for Texas-based Sprint PCS affilate Alamosa Holdings. Universal banks, more commonly known as a financial services company, engage in several of these activities. November 21, 2005: Sprint Nextel announces a $4.3B. Unlike Venture capital firms, they tend not to invest in new companies. (With that closing on October 3, 2005). The modern definition, however, refers to banks which provides capital to firms in the form of shares rather than loans.

Another acquisition forced by Gulf Coast Wireless, added an additional 95,000 customers mainly in Louisiana and Mississippi to Sprint Nextel's CDMA network. Merchant banks were traditionally banks which engaged in trade financing. (This acquisition closed on October 20, 2005.). Examples of investment banks are Goldman Sachs of the USA or Nomura Group of Japan. August 30, 2005: Sprint Nextel announces the intention to acquire IWO Holdings, Inc. a mainly New England-based network affiliate for the Sprint PCS business. Investment banks "underwrite" (guarantee the sale of) stock and bond issues and advise on mergers. [4]. Building societies and Landesbanks both conduct retail banking.

Thus adding some 500,000 additional direct customers to the Sprint Nextel company. Today, some countries have broadened the permitted activities of savings banks. August 12, 2005: Sprint acquires the Sprint PCS affiliate US Unwired for $1.3B. Savings banks traditionally accepted savings deposits and issued mortgages. Sprint EV-DO/1X coverage maps. Many offshore banks are essentially private banks. Offshore banks are banks located in jurisdictions with low taxation and regulation, such as Switzerland or the Channel Islands.

Private banks manage the assets of high net worth individuals. Japan and Germany are examples of countries with prominent postal savings banks. Postal savings banks are savings banks associated with national postal systems. Community development bank are regulated banks that provide financial services and credit to underserved markets or populations.

Since the two no longer have to be under separate ownership, some use the term "commercial bank" to refer to a bank or a division of a bank that mostly deals with corporations or large businesses. Commercial bank, is the term used for a normal bank to distinguish it from an investment bank. Storing valuables, particularly in a safe deposit box. Issuing credit cards, ATM, and debit cards.

Facilitating money transactions such as wire transfers and cashiers checks. Cashing cheques. Making loans to indivudals and businesses. Taking deposits from the general public and issuing checking and savings accounts.