Possible paths forward remain for LightSquared, Phil Falcone, CEO of Harbinger Capital...
Possible paths forward remain for LightSquared, Phil Falcone, CEO of Harbinger Capital Partners, the company’s biggest investor, said in a statement late Wednesday. “I made this multi-billion dollar investment in LightSquared in reliance on FCC’s stated conditions for our receiving…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
a license.” The public notice proposing to block LightSquared from beginning service (CD Feb. 15 p1) “not only disregards this decade old regulatory order but also reverses a policy adopted by Republican leadership in 2005,” said Falcone. “In doing so, it jeopardizes private enterprise, jobs and telecom investment in America’s future. What’s more, the FCC’s recent statement contradicts itself. On the one hand it has ordered LightSquared to build a $14 billion wireless system and on the other hand it has told the company that it cannot proceed. This was not a decision based on science or technology but was a politically motivated decision fueled by special interest groups in the GPS and telecom industry. Nevertheless, there are solutions to this problem that can and will address the needs of the GPS community and allow all Americans to enjoy the benefits of new competition in the wireless industry, resulting in lower prices, and innovative service, if rational public policy prevails."