Subject: [NEXTEL-1] BOOST CEO Quits After Timmy Tries To Run The "BOOST SCAM" ON The CEO

From: [email-masked]
Date: Mon, 24 Nov 2003 10:41:31 -0500

BOOST CEO Quits After Timmy Tries To Run The "BOOST SCAM" ON The CEO

Timmy shows the Aussie's " How Business Gets Done."

- "We Scam You"

"When Nextel bought our company, it was made clear to me that Boost would
continue
to operate independently and that our job was to build a brand that could
dominate the
youth wireless market," Adderton said. "Instead, they're trying to turn us into
Nextel in
jeans. Every day, Nextel reins us in a little more and makes us increasingly
corporate.
That's completely incompatible with what we're trying to accomplish."

======================================================
Press Release
Source: Furlow Wang Communications, on behalf of Peter Adderton

Founder Leaves Boost Mobile
Monday November 24, 3:08 am ET

CEO of Nextel Subsidiary Says Promises Were Not Kept

IRVINE, Calif., Nov. 24 /PRNewswire/ -- Peter Adderton, the driving force behind
Nextel
Communications' (Nasdaq: NXTL - News) entry into the youth cell phone market,
has
left the company in a disagreement over strategy and direction and the failure
of Nextel
to keep promises made to him.

Adderton, 36, was founder and CEO of Boost Mobile LLC, the Australian-born
company
that sells Nextel service using calling plans, features and cell phones designed

specifically for young consumers. Nextel purchased a majority stake in Boost
from its
Australian founders in August 2002 in what was widely seen as a bold initiative
by the
nation's fifth largest wireless company to branch out from its business base to
penetrate a largely untapped consumer segment. Nextel bought the balance of
Boost's
equity earlier this year.

Adderton said he told Nextel CEO Timothy M. Donahue during a meeting Sunday he
believes the company and several senior officers have failed to live up to
promises
made when Nextel completed its purchase of Boost this past August.

"When Nextel bought our company, it was made clear to me that Boost would
continue
to operate independently and that our job was to build a brand that could
dominate the
youth wireless market," Adderton said. "Instead, they're trying to turn us into
Nextel in
jeans. Every day, Nextel reins us in a little more and makes us increasingly
corporate.
That's completely incompatible with what we're trying to accomplish."

When the Nextel-Boost joint venture was announced, analysts praised it, with one

saying "Boost Mobile has demonstrated an ability to understand what makes
Generation Y tick." Nextel Executive Vice President and COO Tom Kelly said the
company had selected Boost because "one of the key requirements for the market
is
that it has to truly be an accepted brand by youth, and on their terms." Kelly
said
Boost's management team had "unparalleled expertise in developing wireless
offerings
that are uniquely suited to the lifestyle and behaviors of young people."

"To build a youth-oriented brand, you have to be immersed in youth culture,"
Adderton
said. "Since Nextel doesn't get that and doesn't want to operate that way, I
just want to
take Boost back and run it myself in the way I know will work."

Adderton said he believes Nextel's failure to roll out the Boost brand
nationwide and
decisions made by Nextel management to impose Nextel's corporate culture on
Boost
were taking the company in the wrong direction.

Adderton founded Boost Mobile in Australia and New Zealand in 1999, and it
remains
an independent company in those countries with him as CEO and major shareholder.

The company has had success targeting young consumers through its association
with
surfing, skateboarding and extreme sports. Not only is Boost a major sponsor of
those
types of competitions, but its phones are sold in surf shops and other
retailers, such as
Sam Goody stores, with youth clienteles. Among its phone offerings is one with
Quicksilver's Roxy brand. Another phone with the Quicksilver brand is scheduled
for
launch next year. In test markets in California and Nevada, Boost has signed up
more
than 250,000 subscribers, principally through pay-as-you-go plans that appeal to

young consumers.

http://biz.yahoo.com/prnews/031124/lam046_1.html

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