If there's one thing Sprint doesn't need at the moment, we'd say that "a harder time getting cash" ranks high on the list. That's where big ol' number three finds itself at the moment, though, thanks to a credit downgrade by Standard & Poor's from "BBB-" to "BB," a move that puts its bonds squarely in junk territory. S&P has some harsh words for Sprint regarding the move, too, explaining that it went down thanks to its "assessment that Sprint Nextel's business risk profile is no longer supportive of an investment-grade rating given its deteriorating operating performance and lack of visibility in the wireless business." Lack of visibility in the wireless business, eh? Snap! The junkification of Sprint's debt coincides with the installment of a new CFO -- purely a coincidence, no doubt -- effective immediately.

But wait, the bad news isn't over. A workers' lawsuit filed in US District Court last week alleges that Sprint dumped pension plan cash into Sprint stock at a time when... well, let's just say that it wasn't exactly a solid investment. The suit names 12 Sprint board members as co-defendants and looks to recover the money lost as Sprint stock slid into the basement; furthermore, it's looking to garner class-action status, meaning that the carrier could potentially owe money to a whole boatload of employees if the plaintiffs win the whole shebang.

Read - Debt downgrade, new CFO
Read - Pension plan lawsuit

The name's Ericsson, Sony Ericsson. Everyone's favorite purveyor of Walkman and UIQ-based phones seems to have paid good money to get their kit into the latest James Bond flick, Casino Royale -- and they intend to take full advantage of it, coming to the table with limited edition James Bond versions of the 3.2-megapixel K790 and K800 Cyber-shot phones. Truth be told, we think that diehard 007 fans might come away a little disappointed with the offerings, seeing how the only thing that makes them special is their new color -- silver -- and some bundled Bond-themed media (wallpaper, ringtones, and the like). Frankly, we'd expect a Bond phone to be lethal, but we suppose there might be some legal implications involved in putting that kind of thing on the market. At any rate, if silver cameraphones are your thing, better hurry: Sony Ericsson only plans on making them available through the fourth quarter to line up with the movie's release.

[Via Mobiledia, thanks Allen]