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The Nextel Nightmare
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Peter Pfeiffer
A Look Inside a Modern Telecommunications Company
In 2002 thousands of employees were laid off at Nextel and millions of dollars in stock and stock option losses occurred. The reasons may be corporate fraud, stock manipulation, fair disclosure violations, and insider trading -- Nextel was clearly misleading investors and profiting a select few. The culprits remain unexposed and free to continue but the FBI and the SEC continue investigating. Please read my report on what happened by going to my site (external link).
Thanks, Peter Pfeiffer
Just one of the characters involved:
Craig McCaw. As visionary as a tuna fish sandwich, Craig McCaw got lucky in the original United States cellular spectrum lottery. Relentlessly myth building, he convinced corporate America and the media that he actually knew something about wireless. Now everybody knows: he didn't. Sold a huge chunk of his shares while telling others not to.
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