Wednesday, 2 December 2015
Last updated 6 hours ago
Jun 23 2011 | 8:04am ET
Harbinger Capital Partners’ wireless broadband venture says it can reduce interference with global positioning systems for 99.5% of all GPS receivers in the U.S., but Deere & Co. said yesterday the venture will still interfere with agricultural equipment.
LightSquared, which accounts for some 60% of Harbinger’s holdings, proposed using a different spectrum of frequencies generally restricted to satellite users. Previous tests using the previously proposed spectrum showed significant impact on GPS systems.
“The LightSquared proposition would degrade most of our GPS receivers and their capability of helping the farmer in precision agriculture, as far away as 22 miles,” said Deere spokesman Ken Golden during a conference call with reporters.
LightSquared received preliminary approval from the Federal Communications Commission in January but must submit a report on interference by July 1 to get final clearance.
“There are still solutions that need to be reached for precision GPS receivers,” Martin Harriman, a LightSquared executive vice president, told Bloomberg. “We just need to be able to sit down together, work cooperatively, and figure out what the fixes are.”
Golden, however, says Deere sees no solution, “The technical solutions aren’t there at this time.”
Despite the current uncertainty, LightSquared has struck a crucial deal with Sprint Nextel to help build and operate the network. Sprint will also be a major customer.
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…