Edit: Sprint now on Bankruptcy watchSprint's Dan Hesse just got a warning notice from his board
To be fair, Hesse inherited a load of problems. The Nextel acquisition that predated him hasn't paid off. Sprint's move to WiMax has been an albatross. Customers were fleeing before he got there. And he inherited dueling corporate cultures in two headquarters, one in Overland Park, Kan., and the other in Reston, Va.
But his fixes have come up short. The MetroPCS acquisition didn't pan out, nor did talks about sharing a network with T-Mobile. You'd think the failure of AT&T's planned acquisition of T-Mobile would have helped, but that didn't really move the needle. And even Hesse's Hail Mary pass with the iPhone 4S has done little to get the company back into the black. In fact, the hefty subsidy costs have dragged its bottom line further into the red. At the same time, he's asking investors to be patient as he embarks on a costly network upgrade.
All that said, the detail of board room machinations in the Journal was surprising. Board members of major companies rarely telegraph what they're doing