Melissa Block explores the long family history of the companies that comprise what became Sprint. It all began in Kansas in the late 19th century and came to include a long distance system created by the Southern Pacific Railroad Internal Network Telecommunications, or SPRINT.
Japan's Softbank has announced it will spend $20 billion to take a majority stake in Sprint-Nextel. The deal will provide Sprint, the third largest carrier in the U.S. market, with some much needed cash. It also gives Softbank the opening it's been looking for to break into the U.S. market.
The U.S. economy will continue to grow throughout the rest of the year and in 2013, but at a tepid rate that fails to lower unemployment, according to a new survey of business economists. The forecast, from the National Association of Business Economists, also expects consumer spending to weaken.
Japanese mobile phone company Softbank has announced it has agreed to buy 70 percent of Sprint Nextel for $20 billion. The deal would make Sprint Nextel a tougher competitor against its bigger rivals, Verizon Wireless and AT&T.
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Two Americans have been awarded this year's Nobel Prize for Economics for work that has to do with matching in business, medicine and marriage. The two, whose work turned out to be a good match, are Alvin Roth of Harvard and Lloyd Shapely of the University of California, Los Angeles. They will share the $1.2 million prize.
Over the past decade, Chinese companies have become major players in the global telecommunications market. This week the House Intelligence Committee issued a report that could interrupt that growth. The committee warned American companies not to do business with two of China's main telecom manufacturers, saying they posed a security threat.
Huawei Technologies is the miracle story of the Chinese high-tech industry, says telecommunications consultant Roger Entner.
Originally published on Thu October 18, 2012 12:20 pm
Willow Tufano became a homeowner earlier this year. This was newsworthy because Willow was 14 years old. She raised money to buy the house by selling stuff on Craigslist.
I spoke to Willow again last week and got an update. She's 15 now, and her life over the past few months was sort of surreal. She got caught up in two dramas: America's housing market and America's media circus.
A life well-worth noting has caught the attention of obituary writers:
-- "Andrew F. Brimmer, a Louisiana sharecropper's son who was the first black member of the Federal Reserve Board and who led efforts to to reverse the country's balance-of-payments deficit, died on Sunday in Washington. He was 86." (The New York Times)
"U.S. consumer sentiment unexpectedly rose to its highest in five years in October as consumers became more optimistic about the economy in a possible boost to President Obama's reelection hopes," Reuters reports.