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I've heard of them working, if you get enough signatures and get someone in the corporate centers of companies. I haven't heard about it working specifically with Sprint or HTC but I don't see the harm in signing it and sending it off anyway. It took me all of 30 seconds to put my name on the petition. I didn't really mind.
I don't even use BT anyway so the petition doesn't really concern me. I still signed it though.
Like I said, its up to you guys. I'm just trying to be helpful by moving it where other people will get to see it.
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