The Underhanded Reason Sprint May Be Letting Donald Trump Take Credit For Jobs He Didn’t Create
Why Is Sprint Allowing Trump To Take Credit?
President-elect Donald Trump is making demonstrably false claims about creating 5,000 jobs at Sprint. A quick fact-check shows that the company made the announcement about the jobs back in October, before the election. Furthermore, a spokeswoman for Sprint, upon being pressed and presented with facts, admitted that the 5,000 jobs of which Trump spoke were part of a plan in place before Trump’s election.
Yet, Sprint’s CEO seemed happy enough to allow Donald Trump to take credit where absolutely no credit is due. In fact, he tweeted out the following:
— MarceloClaure (@marceloclaure) December 28, 2016
But if Sprint had already made the promise to create or keep 5,000 jobs months ago, why allow Trump to take credit?
Of course, it’s simply good business to be on the side of the incoming president. Especially when that president has shown himself ready and willing to tank an American company’s stock via Twitter, at will.
The Reason Is Obvious
But the reason why Sprint may be gladly allowing Trump to revel in a victory that truly is not his may actually be much more specific – and more ominous.
“Sprint has struggled since 2013, when [SoftBank Chairman Masayoshi] Son hinted he could try to buy T-Mobile, only to abandon the effort after signals from the U.S. Federal Communications Commission and Justice Department that they could oppose the move. While T-Mobile has rebounded, becoming the country’s fastest growing carrier, Sprint has cut costs and mortgaged assets to contain its debt.”
Japan-based SoftBank Group Corp. is Sprint’s parent company.
As Forbes reported, the deal fell through “after the Obama administration cited antitrust concerns on account of higher industry concentration.”
But a new president could absolutely mean a new deal. And the company finds itself doing better financially – a lot better, amid renewed speculation that a merger, even with anti-trust concerns, could be likely. Bloomberg reported:
“Sprint shares have more than doubled this year on improving subscriber gains and speculation that the company could revisit a long-speculated merger with T-Mobile US Inc., the third-largest wireless provider, under the Trump administration. The stock rose less than 1 percent in early trading Thursday.”
Simply put, Sprint may step back and allow Trump to laud himself as the great businessman he has pretended to be for years. Sprint may even actively applaud Trump for creating jobs he didn’t actually create. And they may do so for the simple good of their bottom line. And what is good for their bottom line is not necessarily what’s best for consumers – especially if they may be violating anti-trust laws.
It’s frightening to think that the next president is so susceptible to flattery that it could cause him to ignore shrug off those anti-trust concerns.
It’s even more frightening that everyone but Donald Trump seems to know it.
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