Thursday, 2 October 2014
Last updated 7 min ago
Jan 31 2012 | 1:39pm ET
The Federal Communications Commission has asked for public comment on whether global positioning systems deserve legal protection from interference, a much-needed victory for Harbinger Capital Partners' wireless Internet venture.
LightSquared has been buffeted by opposition from GPS makers and users, who say that its service will interfere with most GPS devices. Government testing has confirmed widespread interference, and a federal panel has recommended an end to testing.
But LightSquared last month asked the FCC to find that GPS devices don't merit legal protection from interference, arguing that GPS makers have long sold "unlicensed and poorly designed" receivers."
"The question has, for too long, been evaded by the GPS manufacturers," LightSquared executive Jeff Carlisle said.
The FCC said its comment period would last until Feb. 27, with responses due on March 13.
Harbinger has poured more than half of its assets into LightSquared.
Jim Kirkland, one of LightSquared's chief opponents, called its FCC request "revisionist history and gross mischaracterization of prior FCC decisions."
"LightSquared and its predecessors have never been allowed to interfere with GPS."
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...