We believe this premium valuation ... is difficult to justify.

It makes it far more difficult for Sprint Nextel to argue for a valuation materially below current trading levels of Nextel Partners, ... Nextel Partners has a far superior growth profile than Alamosa.

We will always have enough reasons to justify what we believe and what we do not believe.

These three transactions ... are a lot for any management team to digest. We believe the execution risks have increased dramatically.

With the stock trading at premium multiples and momentum investors exiting the stock, it may take some time ... to re-establish an upward trend.

They are coming out with costs too high. They are going after the premium customer, and they believe they can get it. If they don't get the revenue, they are in deep trouble.