Monday, August 11, 2014

NII Holdings Warns of Bankruptcy

My last employer, NII Holdings, just announced its earnings and warned it could go bankrupt.  The details are in this Bloomberg article.

The company went through a difficult transition from the old business using older wireless technology with Push-to-Talk (PTT) to a new 3G business with new IT systems, new geographic markets, more competition, new platforms, new business models like outsourcing, and new people.  It is too bad as a lot of good people worked really hard to make the company a success and a lot of them were laid off recently.

However, this is the way business works in the USA and the world in general.  Sometimes you win, sometimes you lose, and the market is always the judge and jury.

2 comments:

  1. The stock price has now dropped to $0.16, a 75% drop in one day. The 10 Year high was $89.51 in 2007 and the low is today's price.

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  2. They missed a big bond payment today so it looks like they are entering bankruptcy.

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