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So Harbinger-Backed LightSquared Might Kill Some People, So What?

As you know, Harbinger Capital currently has a big bet going on a wireless company called LightSquared. Should it succeed, Phil Falcone will make billions and his investors will receive the triple digit returns they scored on subprime. Should it fail…we don’t even want to go there but someone will need to take in the family’s award-winning singing and dancing pig, who’s made it clear he “doesn’t do” 2-bedroom rentals North of 86th Street. So far, unfortunately, LightSquared, illiquid shares of which were recently awarded to redemption-seeking investors, has encountered a few bumps in the road (as one often does when one is doing groundbreaking, visionary-esque work). Most recently the company has been making the case that its satellite system will be huge for “coordinating enforcement and emergency response teams during natural disasters, like Hurricane Katrina.” On the flip side, according to a new study by the FAA, it might kill a few hundred people.

A Federal Aviation Administration study quietly released this month says the proposed venture — which could make or break Falcone’s rocky career — may cost 794 lives in aviation accidents over 10 years with disruptions to satellite-aided navigation.

But that’s just ballparking it and even if the number is accurate, every great step forward in the history of man comes with collateral damage.

Falcone 4G: Kill Or Cure [NYP]

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46 Responses to “So Harbinger-Backed LightSquared Might Kill Some People, So What?”

  1. Guy with a sweet 1998 'lude says:

    That’s it I’m not flying anywhere!u00a0 Me and the ‘lude hitting the pavement for roadtrips.nn-Guy who not only raced Ice-T, but won AND didn’t lose his tire.

  2. Piggly says:

    Well, progress demands sacrifices. Moreover, at only 784 lives with a median remaining lifetime income of $500k, we’re looking at only a fraction of the many billions of dollars of value created for me. n~Phil F.u00a0

    • Arthur Anderson says:

      no wonder your fund is going belly-up, it’s 794 lives you number-dyslexic idiot!

    • look out below says:

      You haven’t adjusted for the fact that most of those deaths will be in private jets, median remaining income of more like $30mm…

  3. just sayin' says:

    north of 86th Street ?

  4. Wilbur says:

    Classy job.

  5. Brian1284 says:

    I don’t see an issue here. nn-Chesley “Sully”u00a0Sullenberger-

  6. Guest says:

    Is Phil popping a zit?

  7. Blarghy Blargh Blargh says:

    East of 86th Street? You mean the East River? And isn’t that “river” really an estuary?

  8. Beast Of Burden says:

    Gotta break a few eggs to make an omelette.nn-Lisa Marie Falcone’s Uterus

  9. guest says:

    if you want to make an omelette, you gotta break some eggs.nn- tyler durden, light-squared investor.

  10. Shawn says:

    Killing 794 people is the NKI. Actually, it ain’t nothin’.nn–Marlboro Man

  11. Gust says:

    Dickhole!

  12. Gust says:

    Dickhole!

  13. early hominid says:

    We can take that pig off your hands.u00a0 And we’re not in Queens, so that whole “East of 86th St.” thing won’t be an issue. nnu00a0- Hormel Foods Corp., Community Outreach and Tasty Animal Research Div.

  14. early hominid says:

    We can take that pig off your hands.u00a0 And we’re not in Queens, so that whole “East of 86th St.” thing won’t be an issue. nnu00a0- Hormel Foods Corp., Community Outreach and Tasty Animal Research Div.

  15. Guest says:

    I prefer great leaps forward, but I’m totally with you on the civilian casualties…nn-Mao

  16. NY2LA says:

    Why do you think we took a taxi?n-Dan Wuebben

  17. NY2LA says:

    Why do you think we took a taxi?n-Dan Wuebben

  18. GuestNOW says:

    Based on the study, this idea is a decade ahead of its time.u00a0 Kudos to Phil for his forward thinking. nn-Former Lehman Quant

  19. Einstein's Dumbass Cousin says:

    Light can’t go any faster than it’s own speed.

  20. Guest says:

    I love this picture of me Bess.u00a0 Makes me look like John Lennon, and that totally turns on Lisa Marie.nn- PF

  21. Guest says:

    Word on Engineering Row is that he bought a frequency spectrum that can never be used with the attenuation system he wants to deploy without causing interference to surrounding, establishedu00a0spectrums. like police radio waves and GPS. The belief is this science project will have a tough time succeeding. Maybe he can salvage this ham radio hobby by approaching The Discovery Channelu00a0and getting them to cover this riddle of the Sphinx in a “strike-it-rich” reality show a la “Gold Rush Alaska”nn

  22. Uncle Joe says:

    A single death is a tragedy; 794 deaths is a statistic

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