Wednesday, 1 April 2015
Last updated 34 min ago
Jun 13 2011 | 12:17pm ET
Despite its growing difficulties, Harbinger Capital Management's wireless venture will complete its 4G network within four years, its CEO said Friday.
Sanjiv Ahuja told Bloomberg Television that LightSquared would serve 260 mobile devices by the end of 2014, employing some 40,000 terrestrial towers to offer its services over satellite airwaves. That would be 12 to 18 months ahead of the schedule mandated by the Federal Communications Commission, which has granted LightSquared a crucial waiver.
Ahuja's comments come as criticism of LightSquared grows louder, with new tests showing that its network adversely affects global positioning systems. The CEO said that "wonderful engineers in this country will be able to figure out a way so that GPS community, GPS devices, live within the spectrum that has been allocated to us, while we can build our products and provide service to our customers within the spectrum that has been allocated to us."
Ahuja also confirmed that LightSquared is in talks with Sprint Nextel, but that no agreement has been reached.
"We are also working in a deeper relationship with some of the operators," he said.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…