Clearwire May Skip Big Debt Payment
Clearwire Corp. is considering skipping a big debt payment that comes due in two weeks, a decision that could prove a turning point for a company that had hoped to cover the country with wireless broadband service.
The Kirkland, Wash., company had $698 million in cash and short-term investments on Sept. 30, and can afford to make the $237 million payment due Dec. 1. But it also needs to raise lots of money if it is to remain in business after the next 12 months.
