Rob:
Thank you very much for the info on the quality of service in New York. This past week, I complained bitterly to the Nextel reps and specifically mentioned that with the reduction of 50% in my monthly bills, I had also received a 50% reduction in service. At first the reps tried to bs me with questions as to my location. He soon realized that my radios were spread thruout the metropolitan region and the trouble was pervasive. Soon I received another call from a higher up who told me that demand had exceed nextels ability to maintain quality and that new switches were being added. He told me I could expect a dramatic improvement before the end of May. Ironically, since I received his calls, the service has improved dramatically. It is too bad nextel could not have been proactive and not reactive. I believe, the poor quality at the time of increased competition caused them some new customers. It also happened when some big shots at some high powered brokerage house began service and it was immediately noted by their organizations that service was not that great. Enough complaining, I am happy to hear that they addressed the problem at the meeting. I am also happy to hear about the imminent expansion overseas and the future plans of the company.
It is clear, that nextel is taking a breather and waiting positive news on the planned expansion and improvement of service.
Technically, the stock is perched at the 200 day ma, which way will it break? The stock can consolidate its position at this level for awhile. However, being so close to a critical level and its high debt makes nextel vulnerable to a market correction. I would be happier for a return to the 28 range, it would give us a bit of a cushion. With options expirations lets see what next week brings.
Ken |
