Tuesday, 21 October 2014
Last updated 35 min ago
Dec 13 2011 | 1:01pm ET
LightSquared, the wireless Internet venture backed by Harbinger Capital Partners, is demanding an investigation into the leak last week of damaging test data.
Government tests of LightSquared's system from Oct. 31 through Nov. 4 found that it caused interference with 75% of receivers tested. Those findings were supposed to be unveiled at a hearing this week, but instead found their way into the news media on Friday.
In a letter to the U.S. departments of Defense and Transportation, LightSquared CEO Sanjiv Ahuja called for "an immediate investigation to determine the circumstances of this leak." Earlier, the company alleged that the leak "attempts to draw an inaccurate conclusion to negatively influence the future of LightSquared and narrowly serve the business interests of the GPS industry."
In his letter to the two Cabinet agencies, Ahuja also blasted the leaked information as "preliminary, incomplete," and said it "did not represent the full findings from the test results."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...