Sprint (NYSE:S) announces a $100 million hurricane preparedness program suspiciously just in time for the beginning of this years hurricane season.
A close reading of the press release indicates that the money will be spent throughout the remainder of 2006 primarily in Florida. Other regions will have to wait until the end of 2008 for completion. That's just three more hurricane seasons!
Clearly certain area's will be out of luck. It's almost one year since Katarina. Sprint is slow and grand standing. Hurricanes are not a new problem. The system was under-equipped creating short term profitability. Customers and long term shareholders will just have to suffer.
Sprint 1-yr chart: