Thursday, 8 October 2015
Last updated 3 hours ago
Dec 14 2011 | 3:54am ET
Harbinger Capital Partners’ proposed wireless Internet venture when on the offensive yesterday in the wake of a devastating report on government tests.
LightSquared said yesterday that it would delay one planned power increases for its receivers and abandon another entirely as it seeks to mitigate interference with global positioning systems. The move comes days after the results of recent government tests were leaking, showing that LightSquared’s system interfered with 75% of tested GPS devices.
LightSquared took issue with those results, arguing that a proper analysis of the tests indicates that only 15% of GPS devices suffered interference, and even those were “completely operable with no impact on the user’s experience.” The company is also demanding an investigation into the leak.
LightSquared said its new power-increase plans demonstrate “that an engineering solution to the interference issues with GPS devices is possible.”
The company’s opponents remain unconvinced. “LightSquared insists on using its own self-serving definition of what constitutes harmful interference,” Dale Leibach of the Coalition to Save Our GPS said.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…