Sprint-Nextel posts $29.5 billion loss

Sprint-Nextel’s stock dropped more than 9% after the company announced a $29.45 billion 4th quarter loss.The loss is being blamed on a huge write down related to the company’s merger with Nextel. The company also announced the suspension of dividend payouts and the borrowing of $2.5 billion from a revolving credit facility. Sprint-Nextel CEO Dan more »