Wednesday, 1 April 2015
Last updated 2 hours ago
Sep 14 2011 | 12:52pm ET
The Federal Communications Commission has a message for Harbinger Capital Management's wireless venture: Not so fast.
The agency yesterday ordered more testing of LightSquared's network, which previous tests have shown interferes with global positioning systems. LightSquared, into which Harbinger has poured a substantial chunk of its assets, has since made a series of changes designed to limit its system's impact.
The FCC decision means that LightSquared may not get final approval to move forward with its plans until the end of this year or early next year. Just this week, the company said it expected that approval to come within a month.
"Additional targeted testing is needed to ensure that any potential commercial terrestrial services offered by LightSquared will not cause harmful interference to GPS operations," the FCC said in a notice. The agency cited concerns that LightSquared would continue to interfere with precision GPS devices, including those used for air-traffic control and hurricane tracking.
For its part, LightSquared said it was "grateful that the FCC acknowledged today the significant improvement achieved by LightSquared's decision to move to new spectrum for the launch of its 4G LTE broadband network."
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…