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The decrease is primarily attributable to the continuing effects of actions taken in conjunction with Clearwire's cost cutting initiatives in 2011 including lower employee-related expenses resulting from headcount reductions and outsourcing of the customer care function, reduced marketing spend, as well as decreased selling commission expense associated with our no-contract product offering which was launched at the beginning of 2012.
ENGADGET: Clearwire sees wholesale revenues dip, LTE delays as it posts a $41.3 million net loss in Q3
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Helping HSBC's techno-ambitions is its size: it can spread the cost over eight major affiliate institutions, including Midland Bank, one of Britain's top four, and America's Marine Midland.
CNN: The Asiaweek Financial 500
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Joseph Hinrichs, Ford's group vice president of manufacturing and labor relations, said the agreement would push Ford's total labor cost per hour, including benefits, "into the ballpark" with foreign-based rivals.
FORBES: Autos