Phil Falcone Will Show You. He'll Show All Of You.
Hedge fund manager Philip Falcone is ruling out a bankruptcy filing for his telecom startup LightSquared Inc, one day after U.S. regulators said they planned to yank the company's approval to build a national wireless broadband network. "It is clearly not on our table," Falcone said in an email to Reuters on Wednesday when asked if LightSquared, the biggest investment in his Harbinger Capital Partners fund, was considering a bankruptcy filing. He said there is a plan for dealing with the Federal Communications Commission's plan to revoke its permission for LightSquared to build out a land-based network, but he declined to offer any details. [Reuters]