Intel writes off $1 billion Clearwire investment

The year has barely begun and the bad news seems to get getting worse. Intel has released preliminary Q4 2008 financials which are quite grim: revenue is down 23 percent year over year, 20 percent down from Q3 2008. Intel also says because of the dramatic decline in the share price of Clearwire, it has to write off close to $1 billion. In fact, it expects a loss from equity investments and interest to be between $1.1 billion and $1.2 billion (versus an earlier expected $50 million loss).

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  1. should not have tried to do in the muni grassroots movement – karma