UBS And JPMorgan Funding Phil Falcone’s Wireless Dream

This is the deal the ingrates known as Harbinger investors have pooh-poohed, with irrelevant arguments like the fact that they “thought they were putting money into a hedge fund that traded securities that were easy to buy and sell” and then Falcone goes and pulls something like this. Well he’ll show you. He’ll show all of you!

Philip Falcone’s LightSquared Inc. venture is close to securing a $585 million loan to build its wireless network, as it negotiates a wholesale deal with a nationwide carrier, said two people familiar with the plans. An official announcement of the loan could come as early as today, said the people, who wouldn’t be identified because the deal isn’t public. The loan, from UBS AG and JPMorgan Chase & Co., will bring LightSquared’s cash on hand to about $1 billion, said one of the people. The company has said it currently has roughly $1.75 billion in debt and equity…LightSquared is seeking to compete with AT&T Inc., Verizon Wireless and Clearwire Corp. in selling 4G capacity.


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17 Responses to “UBS And JPMorgan Funding Phil Falcone’s Wireless Dream”

  1. Wilbur says:

    They better bump that loan up to $625M just in case Phil has any outstanding taxes due…..

  2. Phil_Falcone says:

    So, funny but true story. I came one one night, and told Lisa-Marie I was going to invest some BIG money in wireless. She looks at me, and in half Spanish an half English says, “Your’e loco Phil, what do you know about women’s bras?” I loved her even more after that.

  3. Lisa_Falcone says:

    So Phil is doing this wireless thing, right, and I think it will be really great for use in the studio of my label because air is, like, so much lighter than the density of the wire, so the recording sound will be, like, soooo much better.

  4. Wilbur says:

    My portfolio is all wireless while my face is all plastic.

    ~ Lisa

  5. Wilbur says:

    My portfolio is all wireless while my face is all plastic.

    ~ Lisa

  6. Wilbur says:

    My portfolio is all wireless while my face is all plastic.

    ~ Lisa

  7. Anonymous says:

    Those garbage bags never get old.

  8. Al Bundy, Sales Professional says:

    She’ll have to be in management. You can’t climb a pole with nine toes after a certain age.

    (But she knows this)

  9. MsGoGetter says:

    Ann Margaret and Huggy Bear’s love child

  10. czxqa says:

    I’d still put her ankles by my ears

  11. Bernard Baruch says:

    But that will not stop your penis from falling off in the morning.

  12. cash advance says:

    Well, it’s better not to invest money in something you are absolutely ignorent about as it is a great risk. In fact, any investing or borrowing now is a kind of risk as we live in really tough financial times and monetary issues are really risky. In fact, the story is rather funny, I would say.

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