Sprint's Losing Ways Linger

A Sprint representative declined to comment on fourth-quarter numbers, adding that "we are preparing our earnings report for next month." Sprint has not yet scheduled an earnings release date.

Sprint's two-year post-Nextel merger slide hasn't exactly slowed down.

The stock has fallen 21% in the past month even as the board picked a capable successor to ousted CEO Gary Forsee.

"At $12, it's trading at asset value at this point, and I still can't say that it has reached a bottom yet," says one telecom investor who has no Sprint position.

The company has put a freeze on all new deals and development in its crucial WiMax wireless network effort, say people familiar with the moves. Hesse has been scheduling sitdowns with each of his top managers as he attempts to put a plan together, one source says.

Analysts and sources close to the company expect Hesse to announce a major management shakeup and a shift of headquarters back to Kansas.

If true, the consolidation in Sprint's home campus will spell even more neglect for the Nextel side of the company.

Sprint shares were recently up 4 cents to $12.38 Thursday.

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