and softbank sweetens its bid for sprint nextel. but will the new offer be enough to make sprint investors dis dish? >>> all right, good morning to you. throughout the show, we'll keep our eyes on what is going on in taksim square as riot police moved in to remove some protesters. the dollar is at 1.8944 at the moment, responding to some of the comments. you heard yesterday, last night, the turkish prime minister making his first gesture toward protesters, agreeing to meet with them this week and we saw the police trying to move into the square as well. we'll be speaking to a journalist who is in istanbul in and around 30 minutes time. any thoughts or comments, e-mail us, worldwide@cnbc.com. first up, mario draghi speaking last night, the ecb defended his bond buying program or the monetary transactions. today, germany's constitution court begins a two-day hearing to decide if the ecb is overstepping its mandate with the plan. here is an excerpt from the interview where draghi rejects accusations he artificially lowered the risk to s

mobile phone carrier sprint nextel. he told his annual shareholders meeting in tokyo the tide turns in softbank's favor earlier this week. that's when u.s. satellite tv firm dish network effectively gave up its counterbid. when the buyout is complete softbank will become the world's third largest mobile carrier in terms of sales. he aims to make softbank the number one carrier by boosting in the u.s. market. >> translator: i like the deal. i want softbank to become a global company. >> translator: i want softbank to show the world what japanese companies can offer. >> softbank plans to complete the acquisition by early july. one factor that would help him realize his dream is the prized internet bandwidth of a company called clear wire. shareholders in that firm say they're ready to accept a buyout by sprint nextel. sprint bosses already hold a controlling stake in clearwire, but they've struggled to wholly own the company if sprint succeeds in its bid for clearwire, this could potentially deliver all of clearwire's ban

shareholders at clear wire are to accept a buy out by mobile phone firm sprint nextel. that means they will wholly own clear wire and the range of band width. sprint bosses own a controlling stake in clear wire, but faced opposition in turning the company into a wholly owned subsidia subsidiary. satellite tv company dish network was also trying to buy out the provider. they said last week they would support a buy out from dish, but sprint offered them a better deal on thursday. bosses of japan can hope they can buy up sprint and gain access to all of the assets too. i will be back next hour with more business headlines. i will leave you with a check on regional markets. >>> the prime minister of singapore issing residents to stay indoors. from indonesia, it blanketed the city in a thick haze and the air quality is the worst on record. >> singapore is proud of its streets and clear air, but today a thick haze is blocking the view of a sky strainer. air quality in the city state deteriorated to levels classified as hazardous. on wednesday and thursday. the density of pollu

soft bank raised the bid for sprint nextel to close out dish network. shareholders vote in two weeks. sprint sharps gained more than 2%ed to and more than 28 since last october when soft bank made it's offer. >>> another set of shareholders at news corp voted today to split the company in two on june 28th. news corp will become the name of the publishing asset while 21st century fox will be the umbrella. news corp gained more than 66% in the year-long run up to the split. shares were down a fraction today closing at 3167. >>> the pharmacy benefit manager landed a ten-year deal with significa cigna to manage the plans. >>> quest core, a big mover today in a deal, the company acquired a treatment for auto immune diseases. it plans to seek u.s. approval for the drug called cinakvin. it traded at ten times normal volume closing at 42.11%. >>> bananas, now 90-year-old david murdoch wants to buy more of them. he owns 40% of the company and wants to buy the rest for a little more than a billion dollars. murdoch told the new york times back when he was 88 that h

soft bank raised the bid for sprint nextel to close out dish network. shareholders vote in two weeks. sprint sharps gained more than 2%ed to and more than 28 since last october when soft bank made it's offer. >>> another set of shareholders at news corp voted today to split the company in two on june 28th. news corp will become the name of the publishing asset while 21st century fox will be the umbrella. news corp gained more than 66% in the year-long run up to the split. shares were down a fraction today closing at 3167. >>> the pharmacy benefit manager landed a ten-year deal with significa cigna to manage the plans. >>> quest core, a big mover today in a deal, the company acquired a treatment for auto immune diseases. it plans to seek u.s. approval for the drug called cinakvin. it traded at ten times normal volume closing at 42.11%. >>> bananas, now 90-year-old david murdoch wants to buy more of them. he owns 40% of the company and wants to buy the rest for a little more than a billion dollars. murdoch told the new york times back when he was 88 that h

shares gained 4.2% after dish network dropped the bid for sprint nextel. and we've been watching hsbc hong kong because hong kong extended the rate of manipulation probe to this bank. shares ended down by 0.4%. and the big m&a story out of china is the country's biggest dairy producer signed another takeover deal after acquires kkr to modern dairy last month. and offered $1.6 billion to buy vashill. lots of consolidation in the tainted dairy sector. shares jumped almost 7% to a five year high. and actually gained 3% today. elsewhere south korean technology shares pulled back after yesterday's strong rally. samsung electronics and some lg units they lost more than 1%. back to you. >> all right. thanks for that. catch you a little bit later. still to come, samoa airlines is set to produce an extra large passenger class for people weighing over 130 kilos. is this a business opportunity of big proportions? or discriminatory practice? we'll discuss that. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a

telecommunications firm sprint nextel has basically pulled out of the running so we'll continue to watchoftbank shares today to see if that continues. >> the dollar gained quite a bit after the fed statement and bernanke's speech. where do we stand right now in tokyo? >> very good point about currencies. the dollar/yen is a big focus and with the dollar surging after the more optimistic stance on the economy by the fed it hit its highest level since june 12th and gained against other currencies. currently 96.47-51 and with the dollar having gained there's pretty good reason for exporters to come in for further buying as bargain hunting continues. let's look at the euro/yen as well, extending gains, 128.19-29 after positive data on business sentiment in germany so far this week. we'll continue to monitor exporters, banks, real estate firms and heavy industry stocks throughout today to see how they perform as well but we're in the negative for the nikkei and the topix. back to you, ai. >> ramin, thank you for that update. lm republic ramin mellegard from the tokyo stock exchange. >>> south

dish backs off its bid for sprint nextel corp.the satellite t-v provider said it was "impractical" to try and meet a tuesday deadline to submit a new offer. this means that sprint will most likely be acquired by japan's soft bank corp for $21.6 billion.sprint is the nation's third largest carrier. a new study finds many americans are overpaying for their smartphone plan, by about 52 billion dollars a year. analysts say cell phone plans have become more complex, throwing off consumers. "what happens is that people could understand minutes and messages...you know, we understand whats a minute...how long calls are....we understand what a message is, but gigabytes is this whole other realm. you don't really understand how much gigabytes youre using on pandora, or data youre using on email. so what we are seeing is people are overbuying their gigabytes." that was todd dunphy of save love give dot com, a company that analyzes cell phone bills. he notes many americans tend to think they need 6 gigabytes of data, when they really only need one or two. another day, another problem with a boein

the ceo said his takeover plans for sprint/nextel are on track. he is expecting to wrap up the deal next month. south korea, not a warm welcome for the new samsung galaxy. shares eased 0.3% after samsung tumbled more than 13% over the past two weeks. meanwhile, on the region's commodity plays, miners in china and australia also take the brunt of the selling as gold is still trading near the 1300 level. and the double hit of the weak chinese economy and also the fed's tapering continue to weigh on this sector. back to you. >> thanks for that. let's recap what happened in the u.s. as well. selling off for a second day. dow, s&p 500 suffering their worst day of the year. dow down 254 points. highest one day percentage drop since last november. all 30 components down with 29 of the 30 dropping more than 1%. s&p had its worst one day percentage drop since november as well. november 2011, i should say. all ten s&p sectors were down more than 2%. 96% of the stocks listed on the benchmark index ended in the red. the vix, the markets fair gauged up more th

sprint nextel attacking saying it violates agreements and contains illegal provisions. dish network is traded off 1% on the session. >> thank you very much. >> long time senator, a new jersey democrat and a very successful businessman, by the way, died at the age of 89. he was called out of retirement for a second tour of duty in the senate and announced recently he would not run again in 2014. he was the oldest member of the senate. he was the princeable sponsor of a law banning smoking on domestic airline flights. those clean erica bins you have to thank that man. he died at the age of 89. sue? >> as with continue continue, a growing threat, hackers taking over the cockpit of a major airline. take a look at this. Ñ!Ñ!Ñ#Ñ#Ñ#Ñ# mine was earned in djibouti, africa. 2004. vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's commitment to serve military members, veterans, and their families is without equal. begin

mobile as a alternative to the 20.1 billion acquisition of sprint-nextel. om talks have intensified, keeping track of all that. dish made a 25.5 billion counteroffer for sprint. sprint is the bell of the ball. softbank stand to gain if it decides to walk away. this exclusive report via reuters. we'll watch that for you. dish as you can see, not a lot of movement in sprint, but certainly incense filing story. got to tell you, take aalook at the dow. lori rothman and adam shapiro. we have made it a positive week for the dow, guys. many thanks to you, cheryl. rallying into the close. a great sign, wrapping up the week. we've got a positive close looks like for week on the jobs report today. kind of a perfect jobs report, right, adam? we added not enough to characterees overwhelmingly jobs report that the fed would pull out. adam: peter barnes says not too hot, not too cold. relief rally, will it change? who knows. >> let's go to nicole petallides live at new york stock exchange. nicole, bank stocks among the top performers. morgan stanley leading the s&p. >> we

sprint nextel devices applying acquisition. paying for 78% of the company.veiled a new version of the smart watch. alerting the wear of phone calls and e-mails an update on social media updates. that is today's speed read. moving on, a credit agency rating, chinese launched a new venture with russian and u.s. partners on tuesday. liz: how will this be able to challenge the dominant ratings agency contributing to the financial crisis? again, there is this chinese angle to this story. >> that is right. it is going international to try and provide "balance" in a great rating environment. they join forces with russia's rating and egan jones the u.s. to launch universal credit rating group. he is known for criticizing european and american rating firms for being soft on domestic financial problems. he was not shy about sharing why it was formed. in this statement he says it is not going to represent the you could argue interest of new york-based firms, they're going to be a variety of perspective included as a result of a variety of rating firms being part of it.

dish says it will not raise its bid for sprint nextel and instead it will concentrate its efforts to print for clearwire and men's warehouse firing its founder and executive chairman of 40 years george zimmer. while no reason was given, zimmer in a statement said he had expressed his concerns over the direction in which the company was heading. it's down 1.66% today. ty, up to you. >> the american medical association now classifying obesity as a disease, so what does it mean for insurers, your health plan and your employer, plus the final trade before the fed. the results will be out there. the fed statement comes out the top of the hour. we'll be right back. >>> five big wall street names from five big wall street firms with five big predictions on where wall street is heading in the second half. it's all on one big hour of "power lunch," tomorrow 1:00 p.m. eastern. you want to know where the market is going? these people get paid to look forward, and they are only on "power lunch." don't miss the power summit tomorrow at 1:00 p.m. eastern. ...for the year. hi. sorry. just want to sa

dish network said that it's withdrawn its offer for clearwire after a rival bid from sprint nextel, whenrom the shareholders. the bid was trumped by sprint's offer for $5 a share. sprint's higher bid won the backing of clearwire's board and a group of investors, including some hedge funds that had complained vocally that an earlier sprint bid was too low. and so, we're watching shares of clearwire in the after-hour session. they are down more than 2%. back to you. >> jackie, thank you so much. be sure to watch "closing bell" tomorrow. maria will be live from the aspen ideas festival with special guests such as goldman sachs lloyd blankfein and hank paulson. they'll talk markets, fed policy, the economy, beautiful aspen mounts, all sorts of things there. much, much more. all coming your way tomorrow. >> a great conference every year, exactly. >> yes. >>> this is an incredible story, unbelievable, still shaking our heads over this. the u.s. owner of a medical supplies factory in china is still being held captive. not by authorities, but by his own employees. i mean, it's the wild west meet

. >> yes, we were told it's the lee major carriers so it's verizon, at&t and sprint nextel. they have the same standing orders from the fisa court, the secret surveillance court. >> brown: today you reported on the cataloging of credit card transactions, that was new today. tell us what you can about that. what do we know? >> well, my understanding is that it's -- there have basically been a whole host of transactions that have been swept up in the wake of the september 11 attacks and this has been sort of an evolution. so one of the sets of transactions that has been funneled through the databases is credit card transactions. i do want to be careful what i was told. it's not clear there are standing orders for credit card transactions but there's certainly that data has been incorporated into these database vetting search types of investigations as well. as have lots of different types of information from data brokers which you can -- one can buy, you can buy it for direct marketing purposes. but in this case it's just being used to collect as much information as possible t

wireless market via sprint nextel, t-mobile could be a backup plan. nearly 4% right now. maria, back tos you. >> josh, thanks so much. >> we aren't seeing this upward bias that art cashin mentioned earlier. the dow is slowly creeping higher here. we have a gain of 185 points with about 15 minutes left in the trading session. >> so is the rally for real? up next, david darst will be laying out three things he says will signal whether this market can, in fact, head higher from here. and then we'll hear from the head of one company who says he wants to hire new employees, but he can't find enough people to fill the jobs for the positions he has open. this is coming up later on "closing bell." [ female announcer ] there's one thing dave's always wanted to do when he retires -- keep working, but for himself. so as his financial advisor, i took a look at everything he has. the 401(k). insurance policies. even money he's invested elsewhere. we're building a retirement plan to help him launch a second career. dave's flight school. go dave. when people talk, g

we are watching sprint nextel. japan's soft bank increased its bid for sprint. in cash than stock. dish network has been on the table. yes, dole foods, the shares are higher, chaerm ceo david murdock is offering to buy it for $12 a share. an 8% premium over yesterday's close. did you check? >> i he will. >> murdock is he 90? >> he's quite old. for me to say that, he's really got to be old. >> he's 90. >> really, right on the button. i knew it. wouldn't you like to own one? not unu up with of the small islands, one of the five or six whatever it is, for more on the nsa leak scandal, let's get back to becky in washington. beck. >> joe, thank you. you know that nsa leak scandal, it is raising all kind of questions about how close knit the intelligence community is with the private sector. joining us right now with more on this is jamie bamford, he is the investigative journalist and author of "the shadow factory." eamon javers is back with us. jails, we have been talking about this all morning long, i am told you are the absolute expert when it comes to knowing wha

there was a rival bid from sprint nextel that came in that had surpassed that of dish network, and sobid of $4.40, remember, we talked about sprint bid $5, this is for the part that sprint doesn't already own, and as a result, you're seeing dish hit this multiyear high as we noted. there it is, up 3% at the moment. back to you. tracy: nicole, she you in 15 minutes. adam: good news on housing, labor and american spending. how will that impact the fed's plans to start tapering? raymond james' economist scott brown weighs in next. tracy: but, first, as we head out to break, your dow's up 104 points. take a look at how the dollar is moving and, again, gold hanging out near that 1200 mark. we'll be right back. >> twenty minutes past the hour, hi, everybody, i'm jamie colby. a federal grand jury returning a 30-count indictment against boston marathoner suspect joe car tsarnaev. you'll recall in april three people were killed, more than 260 injured in two explosions near the marathon finish line. a epartment of justice news conference expected to begin at 3 p.m. eastern, that'll be from bost

after numerous twists and turns japan's soft bank is finally in the last leg of its bid to buy sprint-nextelint shareholders gave their stamp of approval. soft bank is expected to watch up the acquisition if it gets the green light from the u.s. fcc. if all goes well this is the biggest foreign acquisition by a japanese economy. soft bank shares jumped by 4% earlier in tokyo but gave up all of its gains finishing slightly in the red. >>> sharp will manufacture and advance l.e.d. panels for smartphones and computer tablets. with more, we go to tokyo. >> reporter: hi. sharp provided panel technologies to lcd giant china electronics panda group. production of the panels will start as early as 2015. at a new plant the chinese company is building and managing for $3 billion. aquos slashed power consumption so perfect for smartphones and l.e.d. computers. through the new arrangement it will receive hundreds of millions of dollars in licensing fees. some of the fund will go towards acquiring a 10% stake in the plant operator. the japanese firm will obtain right to sell up to half the output. sharp

will open up opportunities for them. >> he said there is a new sprint-brandedselves nextel users can switch to, but it's not as reliable. >> people want a smartphone now. they want it to be a dig display, and making a really rugged smartphone is it felt, not really ton. >> times have change the and sprint is trying to change with them. but now that this is being replaced by this, some businesses are finding they don't need the phone company to give them that walkie-talkie feature. they can download it from the app store. >> this is an app that turns it into the walkie-talk iie. >> they are using it in part because unlike nextel, voxer can take a message. anything you miss is recorded and weight on your phone. >> it came and went to another country overnight and if they are on a different time zone i get it in the morning. >> that was keith to make the old phone fit better in a world of e-mail and text messages. >> gives met option to answer mealedly live or watch we think about it the he had quit of text messaging but the rimness of voice. >> now voxer is offering a paid app with mor

nsa vast data gathering operation includes verizon customers that was revealed but sprint, nextel and at&t and others. we understand the nsa is also gaining access to purchase credit card companies, although reports are not naming which companies just yet. then there is this, the feds are tapping directly into central servers in the top internet companies, goog, facebook, skype and the rest, screening people's emails, video chats, photos and documents. those companies deny it. we've confirmed it, however, and there is a question why there is that discrepancy. one source telling the "washington post", quote, they quite literally watch your idea form as you type. moments ago president obama addressed the controversy notably he did not deny the existence of these programs. he just tried to qualify what it is the government is doing. listen. >> what the intelligence community is doing is looking at phone numbers and durations of calls. they are not looking at people's names and they are not looking at content. i with respect to the internet, emails, this does not apply to u.s. citizens an

. >>> this week marks the end of line the nextel known for walkie-talkie button. it's own by sprint and they are pulling the plug tomorrow. jonathan bloom found out, a bay area start-up is hoping to scoop up some of their customers. >> that sound will soon be a piece of history. nextel was the first phone to act like a walkie-talkie but sprint is shutting it down. >> sprint like other carriers need a lot of spectrum to build out on these services. >> they say there is new sprint brand that nextel users can use but it's they say it's not as reliable. they have big rugged phones and they aren't selling the way they used to. >> people want a smart phone and to make a rugged smart phone is difficult. >> the fact is times have changed. sprinted is trying too change with them. now this is being replaced by this, some businesses they don't need the phone company to get the features they, downtown led load it from the app store. that is vox store, it turns into a walk can i talk can i. -- walk can i talk day ki. >> it can take a message and record it and wait on your phone. >> it can go ove

. ♪ dennis: sprint and nextel shareholders approving a plan.the wireless market may not be competitive enough. we have former commissioner, robert mcdowell. thank you for being with us. rare opportunity for us to have an insider view of this. what do you think? >> what this shows is we have a far more competitive marketplace then people say. the huge engine of capital. you will have unlimited data plans. sprint has far more spectrum than at&t or verizon. one way to measure the marketplace is to look at all of the advertising out there. it is. dennis: four or five competitive on each. for two years in a row, the staff is at an annual assessment of wireless saying, you know what, we are not sure that is truly a competitive industry. >> it has been one of the crown jewels of the american economy. it is the leader. it always has been in the world. because it has been so unregulated, there are a lot of folks who want to regulate it even more. there is a concern that at&t and verizon combined have about 80% market share. that will start changing, i t

. >>> and an important thumbs up for softbank's bid for sprint nextel.o has the story for us from tokyo. >> hello, rots the. the vote of confidence came from isf, a advisory firm that advises investors on how to perform on corporate issues. iss says it supports soft bank's bid for sprint and it described the price tag as fair and said it would give the u.s. mobile carrier the much needed capital to improve its network and become more competitive. the recommendation may influence institutional investors that own shares of sprint as the meeting is scheduled on june 12th. but iss does not offer a view on a higher counteroff by dish saying the bid is still in its preliminary stage. now, softbank won u.s. snashl security clearance for its offer last month and the focus is now on the on outcome of the shareholders meeting as well as the ruling by the federal communications commission. if approved, softbank would own 70% of sprint which would provide the heavily indebted carrier with $8 billion in new capital. softbank is set to issue a record setting $4 billio

. >>> meanwhile, also in japan, softbank appears to be in the driver's seat to buy sprint nextel a dayg its bid. >> softbank's ceo appears confident about winning the bidding war with dish network. one factor that worked in his favor was a contingency plan he had up his sleeve which conveniently leaked out to the press. last weekend it was reported that softbank was considering taking over t-mobile if it failed to buy sprint. where that softbank that was not willing to play a waiting game, this prompted the u.s. company to announce tuesday it had accepted the revised deal. he recognized the original offer was not welcomed by short-term investors as warmly as expected. softbank was eager to avoid the worst case scenario, failing to win support from a major -- win support from a majority of shareholders. but song is not breaking out the champagne just yet. this ceo charles irgan is known as a shrewd business man who won a bidding war against rupert murdoch in 2001. back to you, ross. >> thank very much for that. the world's biggest gaming event is under way in l.a. this year sony and mic

nsa vast data gathering operation includes verizon customers that was revealed but sprint, nextel andnderstand the nsa is also gaining access to purchase credit card companies, although reports

sprint and nextel moving up above 2%. what's going on? well, you have as we did.hat's an important point. this network still has a bit then for 25 billion. we need on behalf of the south bank. like 21 billion, sprint gets to be that princessswaiting to be swept off her feet by whichever prince is going to win this one. watching that story very closely. analysts coming up. the doing rather well. confusion and sigma i getting all-time highs today hitting a three and a half year high. as a just some of the names that are looking very healthy at the moment. here on this floor is all about media coming up. we have liberty formal. they just finished, completed their acquisition of virgin media. with a big story. it will be talking about that. how far he has brought this channel in just a year's. we are talking homeland, six in denominations. not bad at all. so we will be talking now about that. please, let's get to the markets. it has been an interesting date. one point the dow jones industrials. "countdown to the closing bell," let's bring in our traders at the new yor

nextel. cell phone provider known for its walkie talkie button. they are now owned by sprintis pulling the plug on june 30 end of the month and as jonathan found out, bay area start up is hoping to scoop up some of nextel customers. >> that sound will soon be a piece of history. nextel was the first phone to act like a a walkie talkie but now sprint is shutting it down to make room for the new 4 g network. >> sprint like other carrier need spectrum to roll out the 4 g services and if they shut nextel down that opens opportunities for them. >> he says there's new sprint brand of the service that nextel can switch to but it's not as full feature or reliable as nextel. they still have big rugged phones for now. not selling the way they used to. >> that sort of market is going away. people want a smart phone. want it to be a big display. to have this and make a rugged smart phone is difficult. not really done. >> time to change. sprint is trying to change with them. but now that this is being replaced by this. some businesses are finding they don't need the phone company to give

. >> and sprint nextel has more than $1 billion battle as it battles with dish network. >>> and more of the administration finds that world shale holds 10 times more amount of oil than previously thought. >>> this morning, futures down sharply on the thought that central banks may wind down stimulus programs and not just talking about the fed. overnight the bank of japan left the monetary policy unchange and no new measures to calm market volatility and meantime, the german court is holding a hearing on the legality of the ecb's bond buying program. we are seeing a spike around the world including the 10-year hitting new 14-month highs. this jgerman court ruling won't come until september, jim, and people are worried about the two-day hearing and the bank of japan. >> i am going say that i feel like i have to worry in order to say that i'm rigorous, i have to worry, because i don't want to look stupid, but at the same time we look at thursday's low, we will see the buyers, tom koom yung, and because i'm old enough, i can say we are having that again. but i want to be in sync with all

sprint which is pulling the plug. >> and abc 7 news found out a bay' start sup now hoping to scoop up some customers. >> that sound will be soon a piece of history. nextel will be the foirts act like a walky talky. >> sprint like other carriers need a lot of spectrum and if they shut down that opens up opportunities r opportunities for them. >> kent german says there is a new brand users can switch to. he says it's not as reliable. they still have big, rugged phones. >> that market is going away. people want a smart phone now. they want it to have a rugged smart phone. it's difficult. >> the fact is that times have changed. and now this is being replaced by this, some businesses are finding they don't need the phone company. they can just down load it from the app store. that is the sound of a free app. turns the phone into a walky talky. >> thanks for letting me know. >> sure, thank you. appreciate it. >> staffing firm ccusa is using it in part because it can take a message. anything you miss is reportedded and waiting on phone it can go to another country. if on a different time zone, they respond. >> that was key to making the old walky talky fit bet

sprint which is pulling the plug. >> and abc 7 news found out a bay' start sup now hoping to scoop up some customers. >> that sound will be soon a piece of history. nextelbe the foirts act like a walky talky. >> sprint like other carriers need a lot of spectrum and if they shut down that opens up opportunities r opportunities for them. >> kent german says there is a new brand users can switch to. he says it's not as reliable. they still have big, rugged phones. >> that market is going away. people want a smart phone now. they want it to have a rugged smart phone. it's difficult. >> the fact is that times have changed. and now this is being replaced by this, some businesses are finding they don't need the phone company. they can just down load it from the app store. that is the sound of a free app. turns the phone into a walky talky. >> thanks for letting me know. >> sure, thank you. appreciate it. >> staffing firm ccusa is using it in part because it can take a message. anything you miss is reportedded and waiting on phone it can go to another country. if on a different time zone, they respond. >> that was key to making the old walky talky fit better it

nextel was the first phone to act like a walkie-talkie, but sprint will be shutting that down.this makes room for their new 4g spectrum. >> they need a lot of spectrum to open up the 4g networks and if they shut that down that opens up space to them. >> people want a smartphone now. they want it to be a big display and making a rugged smartphone is difficult. not really done. >> the times have change the. sprint is trying to change with them. but now that this is being replaced by this, some businesses are finding they don't need the phone company to give them that walkie-talkie feature. they can download it from the app store. >> this is an app that turns it into the walkie-talkie. >> they are using it in part because unlike nextel, voxer can take a message. anything you miss is recorded and weight on your phone. >> it came and went to another country overnight and if they are on a different time zone i get it in the morning. >> that was key to make the old phone fit better in a world of e-mail and text messages. >> gives met option to answer immediately live or watch we -- it