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Clearwire Corporation (CLWRD) Message Board

  • great_depression_part2 great_depression_part2 Dec 8, 2008 7:08 AM Flag

    The Alavrion shoe drops

    WiMax already in trouble and it hasn't even really started yet! Notice the last line...

    ALVR 3.89, +0.37, +10.5%) the Tel Aviv provider of wireless-broadband solutions, said it would cut 110, or 11%, of its jobs, cut management salaries and reduce other expenses. The company said it would take a $3 million charge for the initiatives, which are designed to save about $15 million of costs annually. Excluding the charge, the company affirmed the outlook it provided in early November. So far in the fourth quarter, customers haven't canceled or pushed out orders, "but we see lengthening sales cycles, and we remain cautious about the potential effect of the economic climate on WiMAX-related spending decisions as we move through next year," President and Chief Executive Tzvika Friedman said in a statement on Monday