Metro PCS 2010 Annual Report Download - page 49

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• difficulty integrating the acquired technologies, services, spectrum, products, operations and personnel of
the acquired businesses while maintaining uniform standards, controls, policies and procedures;
• disruption of ongoing business;
• impact on our cash and available credit lines for use in financing future growth and working capital needs;
• obligations imposed on us by counterparties in such transactions that limit our ability to obtain additional
financing, our ability to compete in geographic areas or specific lines of business, or other aspects of our
operational flexibility;
• increasing cost and complexity of assuring the implementation and maintenance of adequate internal
control and disclosure controls and procedures, and of obtaining the reports and attestations required under
the Exchange Act;
• loss of or inability to attract and retain key personnel;
• impairment of relationships with employees, customers or vendors;
• difficulties in consolidating and preparing our financial statements due to poor accounting records, weak
financial controls and, in some cases, procedures at acquired entities not based on U.S. GAAP;
• inability to predict or anticipate market developments and capital commitments relating to the acquired
company, business or technology; and
• with respect to any spectrum acquisition in a foreign country, difficulties and expenditures associated with
operating in a foreign jurisdiction.
The anticipated benefit to us of any strategic transaction, acquisition or merger may never materialize. Future
investments, acquisitions or dispositions, or similar arrangements could result in dilutive issuances of our equity
securities, the reduction in our cash reserves, the incurrence of additional debt, contingent liabilities or amortization
expenses, or write-offs of goodwill, any of which could have an adverse effect on our business, financial condition
and operating results. Any such transactions may require us to obtain additional equity or debt financing, which may
not be available on acceptable terms, or at all.
Additionally, our expected growth and any acquisitions or business combinations will also require stringent
control of costs, diligent management of our network infrastructure and our growth, increased capital requirements,
increased costs associated with marketing activities, the attraction and retention of qualified management, technical
and sales personnel and the training and management of new personnel, and the design and implementation of
financial and management controls. Our growth will, and any acquisitions or business combinations may, challenge
the capacity and abilities of existing employees and future employees at all levels of our business and the controls
and systems we have implemented. Failure to successfully manage our growth and development or any acquisitions
or business combinations could increase our costs and adversely affect our level of service, which could have a
material adverse effect on our business, financial condition and operating results.
Business, political, regulatory and economic factors may significantly affect our operations, the manner in
which we conduct our business and slow our rate of growth.
In the recent past, the United States economy has deteriorated significantly, unemployment rates have increased
and such conditions may continue for the foreseeable future. Our business is being and could be further affected by
such economic conditions, unemployment rates, as well as consumer spending, in the areas in which we operate,
including Michigan. These factors are outside of our control. If economic conditions and unemployment rates
continue to deteriorate, or remain depressed, our existing and future customer base may be disproportionately and
adversely affected due to the generally lower per capita income of our customer base (versus the national facility-
based wireless broadband mobile carriers). In addition, a number of our customers work in industries which may be
disproportionately affected by an economic slowdown or recession, including the auto industry. More generally,
adverse changes in the economy are likely to negatively affect our customers’ ability to pay for existing services and
to decrease their interest in purchasing new services. These same economic conditions may negatively impact our