Harbinger-Backed LightSquared Plans To Not Cause ‘Devastating’ GPS Interference Moving Forward

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Not letting Phil Falcone’s LightSquared proceed using its authorized spectrum “would doom an innovative American start-up company,” LightSquared said in its FCC filing. “The commercial GPS device industry wants the commission to shut down an unprecedented effort to establish a nationwide wireless broadband network.” LightSquared’s plan to limit its initial operation to its airwaves furthest from GPS uses would pose no risk to more than 99 percent of GPS users, and the company is offering to underwrite “a workable solution for the small number” of GPS devices “that may be at risk,” the company said in its filing…“This issue will be resolved by good data, smart engineers and good-faith problem-solving dialog,” Sanjiv Ahuja, the company’s chief executive officer, said in a news release. [Bloomberg]

Related: Harbinger Capital Will Pay Redemptions…In Illiquid LightSquared Equity

Comments (31)

  1. 1
    Posted by Guest | June 30, 2011 at 3:41 PM

    It isn’t just Wilbur who is skeptical of this Lightsquared shit (nice tag btw)!

    -One seriously pissed off Harbinger “investor/rapee”

  2. 2
    Posted by guest | June 30, 2011 at 3:44 PM

    Spiderpig vs Wilbur.  Who ya got? 

  3. 3
    Posted by AmericanBandersnatch | June 30, 2011 at 3:46 PM

    They’re gonna ride lightsquared into oblivion just like Slim Pickins

  4. 4
    Posted by Guest | June 30, 2011 at 3:46 PM

    underwrite a solution, eh? pledging the shares as collateral, i bet.

  5. 5
    Posted by guest | June 30, 2011 at 3:47 PM

    Complaining about attempts to doom an innovative American startup when said startup only exists because the FCC removed the “Ancillary” requirement from ATC spectrum is the definition of chutzpah. 

  6. 6
    Posted by AmericanBandersnatch | June 30, 2011 at 3:53 PM

    actually it is “supreme self-confidence: nerve, gall”
    - AIG Quant

  7. 7
    Posted by I Am An Idiot | June 30, 2011 at 3:53 PM

    I always bet Harry Plopper. 

  8. 8
    Posted by Guest | June 30, 2011 at 3:55 PM

    Stopped reading at “smart engineers”…………

  9. 9
    Posted by Lindsay Lohan | June 30, 2011 at 3:56 PM

    I hope this thing interferes with the frequency of this damn government issued anklet so I can shoot out to the liquor store and get me some more booze

  10. 10
    Posted by Guest | June 30, 2011 at 4:01 PM

    Too late

  11. 11
    Posted by Ghost of Ayn Rand | June 30, 2011 at 4:03 PM

    Hey asshole, Galt’s Gulch was a fictional place, it was a metaphor. You cannot actually open up a time/space continuum by jamming GPS for the masses, it doesn’t exist and you wouldn’t even qualify to carry the great industrialist’s bags.  

  12. 12
    Posted by See You In Dell | June 30, 2011 at 4:03 PM

    “Tests found that LightSquared disrupts General Motors Co. (GM)’s OnStar navigation service and equipment used by the Defense Department and the aviation industry, according to a study released June 9.”

    That’s a pretty big 1 %.

  13. 13
    Posted by ExtraOrdinaryPopularDelusions | June 30, 2011 at 4:05 PM

    You MBA or CFA?

  14. 14
    Posted by guest | June 30, 2011 at 4:15 PM

    LMF causes devastating interference in my pants that no amount of smart engineering can cure.

  15. 15
    Posted by early hominid | June 30, 2011 at 4:18 PM

    Stay on the bomb run, boys! I’m gonna get them doors open if it harelips ever’body on Bear Creek! 

  16. 16
    Posted by Masterbator | June 30, 2011 at 4:23 PM

    I read this story hoping for pictures of Lisa

  17. 17
    Posted by Texashedge | June 30, 2011 at 4:33 PM

    At least that led to prodigious mineshaft breeding

  18. 18
    Posted by Yugo Reliability Engineer | June 30, 2011 at 4:49 PM

    So if GM cars weren’t broken down on the roadside so much would there have ever been a need for an Onstar?

  19. 19
    Posted by Anonymous | June 30, 2011 at 4:50 PM

    This is it boys: toe to toe with the Russkis.

  20. 20
    Posted by Anonymous | June 30, 2011 at 4:55 PM

    Mine Fuehrer I can walk!

  21. 21
    Posted by Guest | June 30, 2011 at 5:02 PM

    OMG! did you guys see some jerk keeps $100,000,000.00 in a capital one checking account? And pays ATM fees? Really! It’s on the cover of the Post today

  22. 22
    Posted by Meme Meme Meme | June 30, 2011 at 5:03 PM

    He looks so Norwegian Wood in that pic.

  23. 23
    Posted by Anonymous | June 30, 2011 at 5:03 PM

    go away

  24. 24
    Posted by lost in clouds | June 30, 2011 at 5:08 PM

    Especially when the 1% includes the $50,000 FAA certified GPS boxes in airliners, not the POS NUVI that LM’s driver doesn’t know how to program when going out to get more pig food.

  25. 25
    Posted by Guest_CFA | June 30, 2011 at 5:16 PM

    I’m not sure what’s more dangerous.  Aunt Ethel and Uncle Mo’s GPS not working in their Chevy Malibu or some douchebag using LightSquared to Tweet and check Facebook at 85mph on the GW Bridge.

  26. 26
    Posted by Villanova Grad | June 30, 2011 at 5:44 PM

    Neither. Oh wait wait – MBA, yeah that’s right, definitely MBA. I like cats.

  27. 27
    Posted by Public Servant | June 30, 2011 at 5:48 PM

    OMG! No!! That’s incredible!!!

    Now kill yourself.

  28. 28
    Posted by GuestNOW | June 30, 2011 at 6:16 PM

    “a workable solution . . . good data, smart engineers and good-faith problem-solving = sending a pig and a certain woman dressed as duck to engage in intergalactic war with competing satellites

  29. 29
    Posted by Rw | June 30, 2011 at 7:58 PM

    You clearly arent from nyc, no one goes above 25mph on the GWB.

  30. 30
    Posted by From Russia with Love | July 1, 2011 at 12:01 PM

    Come to Russia mate. Your investors are missing you out here. We so want to interfere with your frequency. and get Wilbur along as well. We russian know how to pamper a pig.

  31. 31
    Posted by Art Critic | July 2, 2011 at 3:18 PM

    I’m guessing that Falcone will be paid a consulting fee for this? This guy is artistic in his investor fucking technique.