Archive for December, 2010
Well, you can’t say I didn’t see this one coming.
Recently I noted how badly Clearwire’s numbers looked (NASDAQ: CLWR). But long before that, I made the point that WiMax was overhyped and that founder Craig McCaw had a history of building up large wireless enterprises and exiting at the top–with as much coin as possible.
I got flamed from many for both opinions, largely from non-technologists who seemed more in love with their portfolio than they were well-versed in wireless telecom.
Today it was announced McCaw is practically sneaking out the back door, right after CLWR announced large layoffs amid doubts about its survival, and more important, right after a large $1.1B debt offering.
The smartest rat seems to have just jumped overboard.
Anybody wanna buy a deck chair on this puppy?
Disclosure: I hold no position, either long or short, in any stocks mentioned here.