An interesting little read from Fortune comparing LightSquared's plot with what NexTel pulled off a couple of decades ago, as well as what may lie ahead when the inevitable litigation hits the courts.
Many of us are waiting with bated breath to see the results of the just-finished round of testing of the cellular and general navigation/location GPS devices. Those results are to be released next week, but yesterday Tim Farrar posted that his source told him the results do not look good for LightSquared.
We'll see.
Meanwhile, LightSquared's owner Harbinger Capital Partners just happens to be getting some unwanted attention from the Securities and Exchange Commission)
This thing won't be truly dead until the FCC and the ITU clearly define what will be allowable in the spectrum near the RNSS bands.
GB
Lights out for LightSquared?
We can only hope, pray and raise cain until it becomes a fact.
It's on CNBC.com, too. Looks like the money (and political backing) behind LSQ may be drying up:
>> Philip Falcone, a hedge fund manager who became an overnight billionaire by betting on the collapse on the U.S. housing market, is now fighting to keep his career afloat.
>> The investor, who has since bet much of his Harbinger Capital Partners money on a cash-strapped wireless telecom company, said on Thursday that U.S. securities regulators are considering filing civil fraud charges against him and what is left of his once $26 billion hedge fund empire.
