Phil Falcone

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    News

    Phil Falcone Suffers Biggest Indignity Yet

    Sure, he’s suffered a lot of them over the past few years, what with having to constantly defend his passion project, LightSquared, to the naysayers (and there have been many), being banned from the securities industry for half a decade, and living next door to people who don’t appreciate the commitment he brings to the […]

    / Jan 8, 2015 at 4:58 PM
  • News

    LightSquared Closer To Losing Every Cent Phil Falcone Put Into It

    The not-exactly-wireless-internet company continues to excel at the only business it’s ever really been in, which is losing money; it’s set $1.8 billion on fire since it went into bankruptcy not quite two years ago, to cover interest payments and to keep the pipes from freezing. Well, Phil Falcone (‘s investors) dumped some $2.9 billion […]

    / Dec 17, 2014 at 12:52 PM
  • Phil Falcone

    News

    Christmas Comes Early At Casa De Falcone

    Phil knew that this was more than just a threat. In all the years they’d been living together, he’d never seen her so mad, not even after she’d discovered he’d been hawking her vintage Hermes scarves for cash last summer. No, she’d really had it with him this time. It’d been more than three years […]

    / Nov 25, 2014 at 1:59 PM
  • Hedge Funds

    Phil Falcone Isn’t Through With Charlie Ergen Yet!

    Phil Falcone is sticking with his narrative for a little debacle called LightSquared: First, GPS companies started using his spectrum without permission, and then said that if Phil started to use it to provide 4G all over this great country, it would be a great country littered with airline wrecks. This planted a seed in […]

    / Nov 19, 2014 at 4:48 PM
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    News

    Phil Falcone Is Thinking Things

    Like maybe now that he’s got all this free time on his hands, he should lace up his skates and whip the New York Islanders into shape? With his afternoons unoccupied for the next four years and his old Harvard game plans already dug out of the attic, the three-time Ivy League hockey champion is […]

    / Sep 15, 2014 at 2:15 PM
  • Phil Falcone

    News

    Ex-Harbinger COO Settles With SEC For Hitching Wagon To Falcone-Shaped Star

    Remember, back in 2009, when Phil Falcone loaned himself $113 million from a gated investor fund to pay state and federal taxes? Initially his chief operating officer, Peter Jenson, had tried to convince the Harbinger Capital founder to borrow the money against assets like his townhouse, artwork, St. Barts estate, and interest in the Minnesota […]

    / Jul 29, 2014 at 1:40 PM
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    News

    Phil Falcone Suing People, Companies, Industry Groups, Countries

    A year ago this August, we noted that a brow-beaten Falcone, on a time out from the securities industry and putting out fires daily with regard to his passion project, LightSquared, was just going to start suing everyone. Which he kind of has! In the last 11 months alone, the hedge fund manager has filed […]

    / Jul 14, 2014 at 5:38 PM
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    News

    Phil Falcone Is Just Going To Start Accusing Business Adversaries Of Being Gangsters

    Philip Falcone’s Harbinger Capital Partners is again suing Dish Network Corp. DISH +0.78% and Chairman Charlie Ergen, this time under the federal racketeering statute. Harbinger is suing both Mr. Ergen and Dish for at least $1.5 billion, saying Mr. Ergen violated the Racketeer Influenced and Corrupt Organizations Act when he acquired the debt of LightSquared—the […]

    / Jul 9, 2014 at 12:39 PM
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    News

    Phil Falcone May Be Spending A Lot More Time With The Minnesota Wild

    Remember LightSquared? Company that “seeks to create connectivity for all” but in doing so might “cost 794 lives in aviation accidents over 10 years with disruptions to satellite-aided navigation”? Filed for Chapter 11 bankruptcy in May 2012? Passion project of investor Philip Falcone, on which he bet the farm? The thing Falcone said he was […]

    / Jul 1, 2014 at 3:50 PM
  • phil falcone

    News

    Phil Falcone Wants To Take Your Backyard To The Next Level

    Two weeks back, Phil Falcone resigned from the board of LightSquared Inc, the bankrupt wireless-spectrum owner he has poured his heart and soul into over the last god-knows-how-many years. He still owns a piece of the company, of course, but now that he’s no longer a director, he’s got a lot more time on his […]

    / Jun 23, 2014 at 1:53 PM
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    News

    Phil Falcone Doesn’t Have To Take This Abuse

    Philip Falcone resigned from the board of LightSquared Inc., the bankrupt wireless-spectrum owner he has tried to build into a rival to U.S. mobile providers, amid negotiations with creditors to reorganize the company. Falcone and four other people appointed to the board by his Harbinger Capital Partners voluntarily resigned on June 12, according to a […]

    / Jun 19, 2014 at 1:17 PM
  • phil falcone

    News

    Phil Falcone Insists FCC Do What He Cannot

    Falcone, whose Harbinger Capital hedge fund owns the bankrupt LightSquared, a high-speed wireless start-up, is asking the Federal Communications Commission to take “immediate” action to stem the barrels of red ink flowing from the company. In a letter to the FCC, Falcone is urging the regulator to “mitigate further damage” to Harbinger, which invested $3 […]

    / May 30, 2014 at 4:11 PM
  • falcone

    News

    Company That Does Nothing Finds A Way To Plough Through $1.3 Billion

    Lightsquared, come on down.

    / May 16, 2014 at 4:16 PM
  • The wireless broadband provider That could

    Phil Falcone, Charlie Ergen Differ On What Exactly Constitutes Fairness

    Phil Falcone thinks that LightSquared’s reorganization plan is way too generous to Charlie Ergen? Well, Charlie Ergen thinks that Phil Falcone’s reorganization plan for LightSquared is way too generous to Phil Falcone, and also not generous at all to himself, his lawyer would like to reiterate once again.

    / May 6, 2014 at 1:40 PM
  • philfalcone

    News

    Phil Falcone Doesn’t Need Any Maror On His Seder Plate Next Week

    Not just because he’s not Jewish, but also because, according to Dealbook, he’s already got a bitter taste in his mouth. (Which, somewhat surprisingly, has nothing to do with his 5 year ban from the securities industry or Charlie Eregn.)

    / Apr 11, 2014 at 5:18 PM
  • PHILFALCONE

    News

    Phil Falcone Would Appreciate It If Someone Would Write Out An Explicit Set Of Rules Re: What One Can And Cannot Do With Company Funds

    As those of you who keep close tabs on the trials and travails of La Familia Falcone know, one of the biggest mistakes Phil made in the last several years was the time he borrowed $113 million from a gated investor fund to cover personal taxes, for which he had failed to set aside enough […]

    / Mar 28, 2014 at 1:28 PM
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    The wireless broadband provider That could

    Phil Falcone’s Passion Project Probably Good For $1 Billion: Credit Suisse

    Philip Falcone’s LightSquared Inc. will probably be able to borrow $1 billion to finance its exit from bankruptcy as a standalone company, Credit Suisse Securities LLC said in a letter made public Friday. The Credit Suisse Group AG (CSGN) unit said it was confident it could arrange the proposed bankruptcy-exit loan as long as LightSquared, […]

    / Mar 24, 2014 at 1:51 PM
  • philfalcone

    News

    5 Year Ban From The Securities Industry Not As Much Of A Hindrance To Doing Business As One Might’ve Thought

    Richard Handler’s Leucadia National Corp. (LUK) added $253 million to its investment in Philip Falcone’s Harbinger Group (HRG) Inc., which owns businesses from consumer goods to insurance. Leucadia agreed to buy 23 million preferred securities in Harbinger Group from Falcone’s hedge funds for $11 apiece, Harbinger Group said today in a statement. That brings Leucadia’s […]

    / Mar 18, 2014 at 6:13 PM

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