Saturday, 28 March 2015
Last updated 19 hours ago
Sep 21 2011 | 11:05am ET
Republicans are demanding that the White House turn over records of its contacts with Harbinger Capital Management founder Philip Falcone, implying that Falcone's support of Democrats may have played a role in the government's oversight of Harbinger's wireless Internet venture.
Rep. Ralph Hall (R-Texas), who heads the House of Representatives Committee on Science, Space and Technology, said he is concerned that some federal officials and agencies haven't been eager to provide evidence or testify about global positioning systems interference problems with the LightSquared network. That does not "put our minds at ease about the possibility that this administration may be providing special favors to high-level financial donors."
Falcone isn't exactly a huge Democratic donor, having given $60,800 in total to Democratic causes with his wife. LightSquared CEO Sanjiv Ahuja has also given $30,400.
"People think we've made contributions to grease the wheels," Falcone told the Fox Business Network. "That is so wrong, it's disgusting."
The Harbinger chief told the Daily Beast he made the contribution to the Democratic Senatorial Campaign Committee because his wife was holding a fundraiser for women in politics.
"She asked me to contribute," he said. "If I had said no, all hell would have broken loose."
The White House echoed Falcone's dismissiveness. "Every administration witness testifying at every hearing on LightSquared has been explicit in identifying the problems for GPS, and the need to resolve interference problems before LightSquared is allowed to move forward," White House spokesman Eric Schultz said. "We fully respect the FCC's independent process."
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…