Tuesday, 1 December 2015
Last updated 14 hours ago
Jun 6 2011 | 12:14pm ET
Another voice has emerged in opposition to Harbinger Capital Management's planned nationwide wireless network.
Deere & Co. told the Federal Communications Commission last week that its agricultural global positioning systems' performance broke down within 22 miles of a base station operated by LightSquared in New Mexico. The company warned that LightSquared's 4G network, which has won a conditional waiver from the FCC, would "create massive interference."
Deere's complaint to the FCC follows similar warnings from the U.S. Departments of Commerce, Defense, Homeland Security and Transportation. The FCC has commissioned a report, due on June 15, which it will review before giving LightSquared the green light to move forward.
"There are major economic consequences" to the LightSquared system, Deere said. "Deere customers in agriculture, construction and other applications will lose high-accuracy navigation in and near areas served by LightSquared."
LightSquared has repeatedly said it would work to mitigate any negative impact of its proposed network.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…