Monday, 4 May 2015
Last updated 9 min ago
Feb 27 2012 | 1:40pm ET
Grasping at straws and perhaps merely postponing the inevitable, Harbinger Capital Management's wireless Internet venture has asked the Federal Communications Commission for an extension on its death sentence.
LightSquared asked the FCC, which earlier this month said it would revoke the company's preliminary waiver to use satellites to provide mobile Internet services. A comment period on that decision is set to expire on Friday. But LightSquared asked the regulator to extend that period to March 30.
The FCC said it would pull LightSquared's approvals because its system has been shown to interfere with global positioning systems. LightSquared has objected to those tests and findings and has said it is still working towards a solution of the interference problem.
LightSquared said the FCC is in a "rush to judgment" of its system.
Harbinger has invested more than $3 billion in LightSquared.
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…