Sat, Apr 07, 2012
Philip Falcone Said The Talks Are 'Serious'
LightSquared's orbit may be decaying towards a catastrophic re-entry. Hedge fund manager Philip Falcone says that the company is "seriously considering" filing for protection from creditors, according to a report from Reuters.
The company suffered $427 million in losses in the first nine months on 2011, according to Falcone. It also was told by the FCC that it would not be allowed to begin operation of its 4G broadband wireless data network until it could prove that it would not interfere with deployed GPS receivers. The company would maintain the spectrum, which has value in the marketplace.
When the FCC revoked LightSquared's waiver to operate on frequencies adjacent to those used by GPS, Falcone said the company would continue to look for ways to deploy its nationwide wireless network. This talk of bankruptcy would seem to counter those statements.
What is iFlightPlanner? iFlightPlanner is general aviation’s most comprehensive suite of easy-to-use flight planning tools for private and corporate pilots. Featuring iFlight>[...]
Meet Jim Campbell--Wednesday/Thursday/Friday, At Sportys Pilot Shop--Display Area #260A, At 1300 Each Day And Get Your Signed Copy of Beyond The Blue!!! To Aviation Journalist and >[...]
Also: Hartzell Accessorizes, Lycoming's 85th, New Continental Diesel, Pelton Intvw-Part 2, DeltaHawk Diesel Update Mooney CEO Dr. Jerry Chen handed the keys for the first new Accla>[...]
IMC Clubs: Building Instrument Proficiency Through Community When it comes to flying, there is no substitute for proficiency and training. And maybe nowhere is that more important >[...]
Concorde Charges Up Our Oshkosh 2014 Coverage! Concorde Battery Corporation has been in the battery manufacturing business for over 30 years and is the world leader in Valve Regula>[...]