Early Briefing: Sprint-Clearwire

*Sprint Nextel, formerly based in Reston, is expected to announce as early as today a joint venture with Clearwire to build a WiMax network that would cover the country, staff writer Cecilia Kang reports. The venture, expected to be valued around $12 billion, will be backed by a total of $3.2 billion in cash investments from cable giants Comcast, Time Warner and Silicon Valley powerhouses Google and Intel.

*NVR of Reston ranked last among the nation's top 13 top publicly traded home builders when it came to building green homes and addressing environmental concerns, according to a study by mutual fund company Calvert of Bethesda. KB Home of Los Angeles was rated number one. The study was based on energy, building materials, land and water.

It also acknowledged that some of the 13 companies it examined may not have publicly disclosed all their environmental goals or achievements. NVR declined to comment yesterday.

*Dominion Virginia Power plans to seek permission to raise electricity rates 18 percent this summer to make customers pay for part of the increased cost of coal and other fuels. That would hike the average monthly bill from about $91 to about $107 and be the largest one-time rate increase for the utility since the 1970s.

By Terri Rupar  |  May 7, 2008; 5:00 AM ET  | Category:  Morning Brief
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