Al, you either can't read or write, or you are still trying to pimp me through your misspelling of my last name. A persons name is sacred and to insult someone through intentionally misspelling or mispronunciation is a low blow and very immature. If you think the information I post on this thread is erroneous, or if you don't like my investment strategy, have enough balls to tell me. Don't try to play games.
You might be interested in knowing that I am a very fortunate individual. I am in my mid-forties and retired. Put my self through college, law school and the graduate tax law program at NYU.Practiced for a while, then bought a business and sold it a few years ago, affording me the ability to have a couple of houses and live most of the year next to a spectacular river on a small ranch in a beautiful valley in Montana. I got in early with McCaw Cellular and did very well when Craig sold to T, also got in early with Nextel, right after McCaw bought his stake. Nextel is my largest equity holding, I own both stock and options(short and long term). My average stock basis is less than 19, and I own a boatload. I also know a few people on the inside of Nextel, but they have not disclosed any confidential information. They do, however, continually recommend that I buy more and hold on. I did sell my FQCDE's on March 31 for about a 200% gain, and will sell my FQCEF's after the new add numbers are released for approximately the same percentage gain. I have leverage my position significantly through the use of LEAP calls, buying primarily in November and December as Nextel retreated from its October yearly high. I will admit that I did purchase some out of the money VFUAG's in October, and am just now starting to see a small profit. Al, I am very heavy into Nextel, a fact which always puts a smile on my face. I also own a 4-Runner(desert pearl), but plan on trading it in on the new Landcruiser, using a portion of my Nextel options gain.
It is a shame that you do not now own any shares in Nextel, particularly after all the encouragement you have received from the very generous posters on this thread. I suspect that if you would have held the stock you purchased shortly before you started posting here, you would be very happy now. And Al, as you have clearly experienced being out of a stock for even one day can be very costly and painful, as evidenced by Nextel's addition to the S&P 500. You snooze, you lose.
To address your question about Australia, if you did even the most cursory research on Nextel, you would know that the company is not operating in that country. The reason, very large geographic area and small population centered in a few large cities, coupled with an extensive existing cellular network.Moreover, Nextel has bigger fish to fry(sorry Frederick) with rest of southeast Asia.
Since you are always looking for reasons not to be invested in Nextel,here is another one.
SMR Dealer Files Suit Against Nextel
By Caron Carlson
WASHINGTON--Claiming to represent a class of at least 100 insufficiently compensated radio service dealers in the southwestern United States, Completely Wireless last week filed a lawsuit against Nextel Communications Inc.
The San Diego-based specialized mobile radio dealer filed the suit April 6, alleging that Nextel has not paid authorized representatives in Southern California, Arizona and Nevada correct commission and revenue percentages as stipulated in their contracts. The dealer also is suing for damages based on negligence, arguing that Nextel failed to properly collect and organize the data to
determine the correct payment amounts. The majority of dealers in the class likely have incurred damages of less than $75,000 apiece, according to the suit. Completely Wireless estimates its own damages are in the range of $8,000 to $14,000.
Nextel did not respond to Wireless Week's inquiry about the lawsuit.
Referring to Nextel as "hugely powerful," Completely Wireless claims the company has "immense power, control and leverage over its dealers." The complaint alleges that Nextel compelled its nonexclusive dealers to accept contracts without meaningful negotiation. Completely Wireless signed an agreement in July 1996 to become an authorized representative of Nextel services.
The putative class of plaintiffs includes dealers in the Southwest that are allegedly covered by one Nextel computer system. The suit claims that Nextel representatives previously indicated that a computer problem affecting that area caused the payment error.
During the past year, the suit claims, Nextel told dealers it was "working on the problem" but is no longer doing so and will not pay what was owed. According to the complaint, "... [Nextel] has also engaged in a consistent pattern of using its superior economic and adhesion-contract based power to stonewall, delay and avoid accountability to class members for the monies owed."
The filing asserts that identifying the class members is simple because Nextel has a complete list of the members with their names, addresses and telephone numbers. Additionally, the filing states that direct notice to each of the members could be accomplished through the mail at a relatively low cost.
In addition to damages and legal fees, the plaintiff is asking for "appropriate provisional remedies," including "any order necessary to prohibit improper, unethical and/or deceptive communications" by Nextel with the class of plaintiffs to undermine the action.
Al, get smart and get on the Nextel bandwagon.
Have a nice day.
Mark |
