[tcrlaf]

Someone might want to check if Barack Obama has the Minus Midus touch lately, because companies that come into contact with his Porkulus package keep heading towards insolvency.

First we had Solyndra, followed by Beacon Power and Open Range, EnerDel, A123, THINK!, etc., with a campaign-financing detour to MF Global. Now LightSquared...

YOUR TAX DOLLARS AT WORK, electing Democrats!

[Red Badger]

[T-Bird45]

Hopefully, this will finally derail LightSquared’s technology that would have killed GPS signals.

[Red Badger]

If the companies were viable, they wouldn’t have needed a bailout in the first place. They would be raking in cash faster than they could put it to work...........

[jazusamo]

I imagine Falcone is livid after all the money he funneled to Obama and Dems didn't get him final approval on his fast track under the table deal.

[TexasCajun]

Where’s the list of failed “Obamah Investments”?

[AmonAmarth]

wow that was “unexpected” Never seen that coming.. /sarc/

[Leep]

I think the Obama’s deserve another vacation. Destroying America is exhausting “work”

[tbw2]

This is wonderful news, because LightSquared’s technology was found in repeated tests to screw up most private GPS systems.

[DManA]

I could be wrong but I don’t think Lightsquared got bailout money. What started out as special treatment in getting access to this spectrum turned out to be a head fake that tricked them into investing $billions of private capital only to have the rug pulled out from beneath them.

Don’t misunderstand, it would have been a debacle if they had been allowed to use this spectrum.

[Obadiah]

Maybe I missed it when I read the article, but I saw no mention - none - of the fact that Lightsquared received billions from Obama or that managers and financial guys bundled milliosn for Obama in return. Not one peep. So who is more guilty Lightsquared or the corrupt MSM who deliberately hide this information?

[longtermmemmory]

i thought he had personal investment in this? as in his own money.

[Techster]

Good riddance! Anyone with the slightest knowledge of satellite vs ground based radio signals knows you can not use the same spectrum for the two at the same time.

[Paleo Conservative]

Good Riddance!

LightSquared's business plan was to interfere with the GPS system.

[GeronL]

This is why central planning never succeeds.

[pabianice]

This may be the biggest corporate f***-up in U.S. history. Sinking billions of dollars into a comm technology that shuts-down GPS navigation — our primary military targeting system and civil fixing system. Meanwhile, in receivership Calypso Wireless (in which I have stock) has the patent on the technology that would probably have allowed them to succeed.