Monday, 1 September 2014
Last updated 2 days ago
Jun 24 2011 | 9:29am ET
Harbinger Capital Partners’ wireless broadband venture faces more tests to address the question of interference with global positioning systems, but U.S. officials seem more interested in solving the problems than shutting Phil Falcone’s operations down.
Tests of the spectrum of frequencies the venture initially intended to use showed significant impact on GPS systems, but the company then proposed a different spectrum, claiming it would reduce the risk for 99.5% of all U.S. GPS receivers.
The issue was discussed during a joint hearing of two House of Representatives Transportation and Infrastructure subcommittees on Thursday. According to Reuters, Department of Transportation Under Secretary for Policy Roy Kienitz told the committees, “We have now tested one proposal here, and we found unfortunately that it did not work as originally hoped. That does not mean the story is over.
"Our goal at DOT is to look for a win-win where we can have much better broadband service nationwide, but to do so without disrupting GPS and vital services it provides.”
LightSquare accounts for some 60% of Harbinger’s holdings. The hedge fund has already invested $3.1 billion in the wireless network and, despite uncertainties over GPS interference, has inked deals with Sprint, which will help build and run the network as well as becoming a customer, and Best Buy, which will resell the service under its own brand name.
LightSquared executive vice president Jeffrey Carlisle reiterated that the company would not operate in any way that would jeopardize the safety of government, commercial aviation or maritime operations.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...