Tuesday, 21 October 2014
Last updated 3 hours ago
Mar 1 2012 | 4:00am ET
Harbinger Capital Management's embattled wireless Internet venture already has a man in mind for its vacant CEO's seat, just days after its most recent chief resigned.
LightSquared may hire former Sprint Nextel Chairman Timothy Donahue as it seeks to convince regulators to allow its proposed network to move forward. The Federal Communications Commission last month said it would not approve LightSquared's plans due to interference with global positioning systems, but yesterday agreed to give the company another two weeks to respond to its decision.
Battles over spectrum are nothing new for Donahue who, as CEO of Nextel prior to its merger with Sprint, worked with the FCC to deal with concerns that Nextel's network would interfere with public safety systems. That background is a factor in LightSquared's interest in Donahue, Reuters reports.
In addition, Donahue's former company—he retired in 2006—is LightSquared's most important customer.
Sanjiv Ahuja, LightSquared's first CEO, stepped down on Tuesday, although he remains the company's chairman.
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 ...