Clearwire's (CLWR) stock dropped 16% Thursday after it said it lacks the cash to fund operations...

|By:, SA News Editor

Clearwire's (CLWR) stock dropped 16% Thursday after it said it lacks the cash to fund operations past mid-2011. The WiMax provider said it will reduce headcount by 15%, cut sales and marketing spending, and delay the release of its own branded smartphone,but admits this alone won't be enough.