Mr. Blankfein did not rule out working in government after his tenure as the chief of Goldman is over. “I have aspirations to be desired,” he said eliciting laughter from the several hundred attendees. “By any president; I didn’t mean to limit it to the United States.” [Dealbook via DI]
LightSquared is a wireless venture that seeks to create “convenient connectivity for all.” But, as the part-time Phil Falcone biographers among us know full well, it stands to do much more. In short, it will make or break backer Harbinger Capital. Success will mean billions for Falcone and his investors, who are more or less being held hostage until this whole thing pans out. Failure will mean Wilbur Falcone looking for a new benefactor on the 5:54 Metro North to Greenwich.
As one can expect when one is doing ground-breaking, visionary-esque work, LightSquared has encountered some opposition. The yachting community worries the interference will cause them to get lost at sea. The National Oceanic and Atmospheric Administration says it “may degrade precision services that track hurricanes, guide farmers and help build flood defenses.” Mars is similarly pissed. Last week brought news that LightSquared caused “interference to 75 percent of global-positioning system receivers examined in a U.S. government test,” though that won’t matter much if this thing runs out of cash, which it just might. Read more »
I don’t know if you’ve heard about this, but BP is in a bit of a tough spot right now. Some stuff went down in the Gulf Coast recently– would rather not rehash– and while it’s nothing to freak out about, things are a little tense. In the meantime the company needs, uh, just like a few clams (too soon for shellfish humor?) to tide itself over. Thinking like a few bill, give or take a few more bill. Read more »
Unlike some people we don’t care where this thing closes. What we’d instead like you to do is predict the number of times, from the second this post goes up until the closing bell, our favorite business network verbally* mentions “Dow 10,000.” Don’t know what the prize will be for whoever gets it closer without going over but it’s gonna be good. For those of you with booze on hand, feel free to take this thing to its obvious drinking game conclusion and then bill us for the trip to the ER to have your stomach pumped.