Embarq on May 17

On May 17, Embarq will sail. "All aboard a sinking ship? When Sprint Nextel spins off its local phone division later this month, the new company, Embarq, could face a tough sell for investors hesitant to ride with aging technology and soaring competition..... In a document filed with the U.S. SEC, Embarq warned that the number of access lines--its bread and butter--could fall between 5.5% and 7.5% on a year-over-year basis. The company also said Thursday that it expects flat or sinking revenue of $6.2 billion to $6.3 billion in 2006, compared with $6.3 billion in 2005. And Embarq will carry some $7.25 billion in debt. "