Clearwire’s “massive” spectrum holdings give it enormous potential. The worldwide WiMAX ecosystem has been watching Sprint and Clearwire for several years now and positive or negative views of WiMAX have hinged directly (or indirectly) on events as they occur. Delays in the whole ecosystem are tied to Clearwire’s delays as it re-formed its relationship with Sprint. Clearwire has been moving forward with its aggressive build-out plans over the last two years and now tangible results are visible. How many subscribers are retail versus wholesale, and what will cause this to shift?