Nextel faced significant levels of bad credit from 2001-2002, which required major changes to remain profitable in the communications industry. To maintain the company's health, Nextel deemed it necessary to improve their systems and policies. A tighter policy regarding credit card transactions was imposed by Nextel, requiring two identifiers when the credit card cannot be inspected in person due to a large portion of debt stemming from fraudsters. The credit card fraud dropped significantly within five months of implementing the new system. Nextel streamlined its processes and consolidated its various systems, particularly the billing and collection system, to eliminate redundant and time-consuming processes. Employees from customer finance services helped design, use, and provide feedback on the new system. One-call resolution scheme was implemented, enabling resolution of a customer's concern or problem i
...n a single phone call. Employees identified and solved problems quickly to prevent customers from not paying.Nextel was able to significantly reduce its debt from 4.7% to around 1% after merging with Sprint. This led to a boost in productivity by up to 30%, improved overall cost and capital structure, and decreased customer churn rate. As for common stock, it is the most widely-held type of stock in a company and provides some voting rights for owners in corporate decisions. However, preferred stockholders typically hold priority over common stock owners in terms of their rights and claims during a company's liquidation. Common stock owners can receive dividends and profit through capital appreciation, but dividends go to preferred shares first before being distributed to common stock shareholders. Though there are different types of common stock, they share key characteristics such as ownership of voting right
and potential benefits for owners.While common stock can provide potential returns and come with investment risks such as loss of principal, there are various ways to categorize it. One method is by potential for return and investment risks, but it can also be classified based on the issuing company's market capitalization or industry and sector - like manufacturing or financial services.
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