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FCC considering ‘all options' to save bankrupt tech company LightSquared
The Hill ^
| May 19, 2012
| Brendan Sasso
Posted on 05/19/2012 11:25:16 AM PDT by jazusamo
click here to read article
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Not one dime of taxpayer money should be spent to bail out LightSquared and Obama's buddy Falcone, it was no ones fault but their own.
1
posted on
05/19/2012 11:25:27 AM PDT
by
jazusamo
To: jazusamo
I am in agreement here. LightSquared knew about the GPS interference issue and thought that Obama would sweep it under the carpet to benefit them.
They never did a realistic assessment of the problem, instead relying on political connections to overcome a scientific/engineering problem. They deserve to have their clock cleaned.
2
posted on
05/19/2012 11:31:56 AM PDT
by
CurlyDave
To: jazusamo
I think this administration has surpassed the Carter administration as having the touch of death for anything financial.
It's funny how ALL that money gets invested and then just (poof) disappears as 0bama prepares for a billion dollar reelection campaign.
3
posted on
05/19/2012 11:34:50 AM PDT
by
EGPWS
(Trust in God, question everyone else)
To: jazusamo
4
posted on
05/19/2012 11:35:43 AM PDT
by
null and void
(Day 1215 of our ObamaVacation from reality [and what dark chill/is gathering still/before the storm])
To: CurlyDave
I couldn't agree with you more.
The proof of that for me was when Air Force Gen. Shelton was going to speak out in Congress about the mess and Obama’s administration tried to shut him up. But for Gen. Shelton this deal would have probably gone through.
5
posted on
05/19/2012 11:37:09 AM PDT
by
jazusamo
("Intellect is not wisdom" -- Thomas Sowell)
To: null and void
I believe LightSquared knew of the problem and sought a waiver through Obama and the FCC and in fact the FCC gave them a conditional waiver. Then LightSquared tried to bull it through and probably would have but for Gen. Shelton speaking out.
6
posted on
05/19/2012 11:40:55 AM PDT
by
jazusamo
("Intellect is not wisdom" -- Thomas Sowell)
Please bump the Freepathon or click above and donate or become a monthly donor!
7
posted on
05/19/2012 11:42:03 AM PDT
by
jazusamo
("Intellect is not wisdom" -- Thomas Sowell)
To: jazusamo
This is beyond stupid.
The thing is nearly dead. Let it lay.
To: jazusamo
probably so... that is what happened
9
posted on
05/19/2012 11:47:02 AM PDT
by
dennisw
To: null and void; All
10
posted on
05/19/2012 11:50:06 AM PDT
by
jazusamo
("Intellect is not wisdom" -- Thomas Sowell)
To: jazusamo
Business plan: Buy spectrum that is too narrow and requires it to be low power to function without disrupting neighboring bands. Push through approval, hoping no one notices. Get test program in place, disrupt GPS signals across nearly a thousand square mile area, say how great the system's working, seek approval for national rollout. Try to suppress those who point to the GPS problems. Deny GPS problems. Propose solution to GPS problems that requires every GPS unit to be remade. Propose second solution that requires everyone else to change. Propose third solution that basically says tough luck. Demand approval now. File bankruptcy.
Pretty sure if an investor could crack ‘company secrets’ that this is exactly what the business plan said before starting. That no one would notice until it was too late, and when that happened, it's the problem of the GPS receivers being too sensitive and they need to get fixed.
The only thing they never counted on was the FAA posting maps of GPS disruptions and that information getting out into the general population. Were it not for that, this probably would have worked.
11
posted on
05/19/2012 11:50:46 AM PDT
by
kingu
(Everything starts with slashing the size and scope of the federal government.)
To: Eric in the Ozarks
To: dennisw
The idea behind LightSquared is good, but the devil was in the details, specifically the spectrum. The bottom line is that this should have been squared (pun intended) away before the major investments in systems and equipment. The failure comes back on the FCC for not putting its foot down at the get-go and on the company for not addressing this issue at the beginning. If it can be fixed by changing spectrums without adversely impacting other users, fine. Otherwise, they do what I do when making a bad investment, and that is to live with it.
13
posted on
05/19/2012 11:54:03 AM PDT
by
rstrahan
To: jazusamo
To hell with Chapter 11, make it Chapter 13 and put them in the grave forever!
14
posted on
05/19/2012 12:00:09 PM PDT
by
dalereed
To: jazusamo
15
posted on
05/19/2012 12:14:20 PM PDT
by
GeronL
(The Right to Life came before the Right to Pursue Happiness)
To: jazusamo
"Not one dime of taxpayer money should be spent to bail out LightSquared..."Amen!!! The first thought in my head when reading the article.
16
posted on
05/19/2012 12:16:22 PM PDT
by
yoe
(Proud to be part of the Tea Party movement.....!!!!!)
To: jazusamo
I am in agreement here. LightSquared knew about the GPS interference issue and thought that Obama would sweep it under the carpet to benefit them.
They never did a realistic assessment of the problem, instead relying on political connections to overcome a scientific/engineering problem. They deserve to have their clock cleaned.
To: jazusamo
When The Won won, he thought that it was permanent.
18
posted on
05/19/2012 12:39:40 PM PDT
by
E. Pluribus Unum
(Do I really need a sarcasm tag? Seriously? You're that dense?)
To: jazusamo
LightSquared = Solindra 2.0
19
posted on
05/19/2012 12:45:18 PM PDT
by
MindBender26
(America can survive 4 years of Romney. She cannot survive another 4 years of an unfettered Obama!)
To: CurlyDave; jazusamo
I am in agreement here. LightSquared knew about the GPS interference issue and thought that Obama would sweep it under the carpet to benefit them. This isn't just about whether LightSquared's system would interfere existing GPS devices. It is also about the future of the GPS system. Future updates and improvements to the system might need the spectrum LightSquared wants to use for its system.
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