Subject: [NEXTEL-1] Nextel Pays Departing Mooney $2.5 Mln, Forgive $2 Mln Loan

From: Marcel <[email-masked]>
Date: Tue, 19 Nov 2002 16:46:59 -0500

Hey, They can forgive me too for $2M.
<Snip>
"Mooney was granted a $3 million interest-free loan when he joined the company in April
2001, according to a separate SEC filing. The company is  forgiving the $2 million balance
on the loan. Spokeswoman Audrey Schaefer declined to elaborate."

If she won't "elaborate" I know someone who will.
http://quote.bloomberg.com/fgcgi.cgi?T=marketsquote99_news.ht&s=APdWfWBOaTmV4dGVs
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Nextel Pays Departing Mooney $2.5 Mln, Forgives $2 Mln Loan
By Tom Giles

Reston, Virginia, Nov. 15 (Bloomberg) -- Nextel
Communications Inc., the wireless company controlled by
billionaire Craig McCaw, agreed to pay departing Chief Operating
Officer James Mooney $2.5 million and forgive a $2 million loan.

Mooney, who left in September for personal reasons, was paid
$550,000 in severance and $708,750 in lieu of any 2002 bonus he
would have been entitled to, Nextel said in a U.S. Securities and
Exchange Commission filing. The No. 5 U.S. mobile-phone service
provider also said in the filing that it will pay Mooney $1.29
million for agreeing not to seek employment with a competitor.

Shares of Reston, Virginia-based Nextel sank 16 percent on
Sept. 19, when the departure was announced. Mooney was credited by
investors with helping Nextel meet targets as some rivals trimmed
forecasts and lost customers. The stock has rebounded.

Mooney was granted a $3 million interest-free loan when he
joined the company in April 2001, according to a separate SEC
filing. The company is forgiving the $2 million balance on the
loan. Spokeswoman Audrey Schaefer declined to elaborate.

Nextel shares rose 20 cents to $13.38 at 4 p.m. in Nasdaq
Stock Market trading. Since Sept. 19, Nextel shares have surged 91
percent amid expectations that the company will boost sales faster
than rivals. Nextel phones include a walkie-talkie feature popular
among construction crews and other businesses.

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