I worked at Suncom from 2001- August 2003, I loved working for them and enjoyed the small team spirit that we shared in Financial services. I met some life long friends while working there ( chris, Don, etc). After leaving Suncom I have worked for every major cell phone provider and the team spirit that I loved at Suncom has never been duplicated... Verizon comes close. The problem with Suncom early on was that relied to heavily on Sales and not retention of customers, and that the company execs worked in a totaly different state and to me mismanaged company resources.
I hope the very best to all the employees at Suncom and that buyout helps you guys out.
â€œSuncom has never been duplicatedâ€ â€œVerizon comes close.â€ Never duplicated what? Donâ€™t put Verizon and Suncom even in the same sentence. Suncom is great at financial and operationally nightmare while Verizon doesnâ€™t even know what losses are.
Thats like comparing a local store to a national one. Out of all the carriers most has many many times the employees suncom has. They are a small regional carrier and the less employees the tighter it will be. 1000 is not that much when it comes to employees. I am in the marine corps and on a large base its the same. I am on a base with 140 and I know them all. If I was on a base with 45000 I might know 30.
That is my point. Entry-level employees to upper level employees they both would work harder to allow the company to do better. It seems like since Management did not care that means that the employees should not either. It is a true shame though. The company has some good assets but is failing miserably.
Kudos for you to getting out. hope you do not have any stock left.
Well they had some financial difficulties so they went chapter 11 and then did a few reverse splits then selling shares to make money. their stock is basically worthless and inflated especially since they are worthless. I would never own their company ever. A premium of course but over the time that they have been in between public and chapter 11 I doubt that people made money on it overall from before to now unless they made some few block transactions recently at $25 to $27. I remembered when Suncom went from 10 to 1 and then obviously delisted than with the reverse split.
Does not work that way. When it continuing going down under the $1 then it became threatened with delisting then it went onto the pink sheets. Then it went on that whole debt agreement situation which really meant that the shares are worthless. The only time that someone could actually make money was during these past few days if they bought within the $25-$26 level.