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 »