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Posted by Sam Wormley on August 4, 2011, 7:32 pm
LightSquared Flunks GPS Interference Tests: What Now?
http://www.insidegnss.com/node/2689

"The gloves have come off now that test results show clearly the
probable effects on GPS of LightSquared’s proposed wireless broadband
network: widespread, debilitating interference to GPS receivers.

"Grassley Steps Up the Pressure

"The Hill activity most potentially damaging to LightSquared’s plans in
the near term, however, is not legislative. It is a request from Senator
Chuck Grassley, R-Iowa, for copies of FCC communications about LightSquared.

"Grassley said in a July 5 letter that the FCC had intentionally ignored
his April request for copies of communications between the commission,
the White House, LightSquared, its primary backer Phil Falcone and the
Harbinger hedge fund he controls.

"In the second letter, which was sent to the FCC and posted as a press
release, Grassley said that Falcone was being investigated by the
Securities and Exchange Commission for market manipulation, violations
of the “short sale rule,” and for taking a $113 million loan from his
hedge fund without investor permission. He also asked if the commission
had “safeguards to ensure that valuable spectrum allocations are not
made to serial violators of our nation’s securities laws.”

"Grassley does not appear to be backing down. A Grassley spokeswoman
told Inside GNSS in an email about the meetings that their office
“reiterated that one of the reasons behind the senator’s document
request to the FCC was to ascertain whether the agency conducted due
diligence on behalf of the public in advancing the company’s project,
including whether the FCC should grant approval to a company whose
primary funding source is under multiple SEC investigations.”

See: http://www.insidegnss.com/node/2689

Posted by Nicholas on August 4, 2011, 10:04 pm
wrote:

>Grassley said that Falcone was being investigated by the
>Securities and Exchange Commission for market manipulation, violations
>of the “short sale rule,” and for taking a $113 million loan from his
>hedge fund without investor permission

Park his a$$ in prison next to Bernie Madoff.



Posted by macpacheco on August 10, 2011, 5:53 pm
> wrote:
> >Grassley said that Falcone was being investigated by the
> >Securities and Exchange Commission for market manipulation, violations
> >of the short sale rule, and for taking a $113 million loan from his
> >hedge fund without investor permission
> Park his a$$ in prison next to Bernie Madoff.

The only way that Falcone will really loose is if the FCC turns down
their deployment on the L-band and doesn't give them any cheap access
to spectrum elsewhere.
The FCC should tell Lightsquared that they can only deploy at a
drastically lower power level and only after further testing proves no
interference from both LS towers and handsets. And that if they wish
to get spectrum elsewhere, they're welcome to buy it in spectrum
auctions, with no special treatment.
One can dream he will go to jail, but this is no Madoff scheme. He
probably has done many bad things, but those are usually solved with
fines. Specially with his hot connections to POTUS, FCC chair and many
others.

Marcelo

Posted by Nicholas on August 10, 2011, 7:21 pm
On Wed, 10 Aug 2011 14:53:08 -0700 (PDT), macpacheco

>> wrote:
>> >Grassley said that Falcone was being investigated by the
>> >Securities and Exchange Commission for market manipulation, violations
>> >of the short sale rule, and for taking a $113 million loan from his
>> >hedge fund without investor permission
>> Park his a$$ in prison next to Bernie Madoff.
>The only way that Falcone will really loose is if the FCC turns down
>their deployment on the L-band and doesn't give them any cheap access
>to spectrum elsewhere.
>The FCC should tell Lightsquared that they can only deploy at a
>drastically lower power level and only after further testing proves no
>interference from both LS towers and handsets. And that if they wish
>to get spectrum elsewhere, they're welcome to buy it in spectrum
>auctions, with no special treatment.
>One can dream he will go to jail, but this is no Madoff scheme. He
>probably has done many bad things, but those are usually solved with
>fines. Specially with his hot connections to POTUS, FCC chair and many
>others.
>Marcelo

Falcone could always have an "accident."

a 200 pound bag of cement could fall out of the sky and land on his
head...
The brakes of his car could always fail.
He could have a gas leak in his home that turns it into a fireball.
Heaven forbid! Just sayin' ya know?

Lg


Posted by HIPAR on August 12, 2011, 11:41 am
I'm not interested in having anyone punished or disgraced. Let's be
satisfied if Lightsquared is dismissed for 'practical' reasons
allowing this annoying matter to become history.

--- CHAS

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