Worry not about social inequality. Because at this point the fat cats in the business world are as hungry as the rest of us. Sprint has been trying to sell off its Nextel brand while Verizon has been trying to expand its business with a purchase of Alltel. Unfortunately, both deals may go down the toilet as the current credit market remains airtight. The current instability in the market have led banks to halt its lending to many businesses and individuals. As a result, people are struggling to purchase things such as automobiles and homes while businesses are struggling to keep their businesses afloat. Sprint is alredy certian to be on the losing end in this situation because it now only has a 5 billion dollar price tag on Nextel, a company which it had purchased for about seven times as much. Verizon, on the other hand, would have to shoulder more out of pocket expenses to complete its buyout of Alltel. Either way, these two instances show that this financial crisis is widespread and the only way to solve it is for the nation to quit the class warfare between the "Wall Street" and "Main Street" and actually work towards a more pragmatic solution.
ORIGINAL ARTICLE: http://www.informationweek.com/news/telecom/business/showArticle.jhtml?articleID=211100163&cid=RSSfeed_IWK_All
PHOTO SOURCE: http://www.harrythompson.com/demo/img/nextel_2d.JPG
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