LightSquared Update: A company worth investing in?

[Steve]

LightSquared Update: Obama Was A LightSquared Investor!

Turns out President Obama was doing alot more than attempting to help out a major donor - Obama himself was (or still is?) an early investor in LightSquared!

Obama himself was an early investor and came to the presidency a firm believer in expanding broadband. He remains close to other early investors, like Gips and investment manager George W. Haywood, inviting some to luxe social events at the White House and more intimate gatherings like a night of poker and beer.

Source: Huffington Post

And it gets worse... There were waivers involved:

Obama installed one of his biggest fundraisers, Julius Genachowski, a campaign "bundler" and broadband cheerleader, as chairman of the FCC, whose staff granted LightSquared a special waiver to operate.

Source: Huffington Post

And it gets EVEN WORSE...

Jeffrey J. Carlisle, the company's vice president for regulatory affairs, served with Genachowski and Gips on Obama's transition team.

Source: Huffington Post

oh what a tangled web we weave when we get to greedy...

 

[Steve]

The Obama FCC took the lead in intervening on the donor, billionaire hedge fund manster Philip Falcone's, behalf and granting his company called "LightSquared" one of those coveted Obama waivers from existing law.

how Obama FCC chairman Julius Genachowski went to bat for LightSquared.

Genachowski is refusing to attend a House hearing today on how and why the FCC fast-tracked the matter. Most transparent administration ever:

FCC Chairman Julius Genachowski has been listed as a witness on the subcommittee's Web site for days. Sun said it was a mistake.

"We received an invitation from the subcommittee for the chairman or his designee to testify," she said.

But subcommittee chairman Mike Turner (R-OH) had met with Genachowski and had made it clear that he wanted the agency head to attend the hearing,

"The FCC told us late yesterday that he would not be attending" Crosson said in an e-mail. "We had expected him to attend, and it was made clear as such."

Genachowski's appearance has been anticipated as fresh questions emerge about the agency's role in LightSquared's waiver approval last January to use non-satellite phones on their proposed network. The power of those phones would crowd out GPS signals, according to defense, aviation and oceanic federal officials.

wasn't this guy mentioned somewhere before?

 

[Steve]

Now, the Federal Aviation Administration, FAA, joins the military in concerns that LightSquared′s 4G network could render the current GPS system, needed for accurate navigation, useless.

In addition to the GPS issue, the ramifications of the FCC's favoritism to Falcone and LightSquared are enormous. Consider other competitive nationwide mobile providers. Take Clearwire, for example. They purchased terrestrial spectrum at auction for substantial sums, and they have invested millions more to build out their 4G network. And now, thanks to the FCC, their competitor LightSquared is given the same terrestrial spectrum for free, and is essentially exempt from requirements to invest and build out a competing network. The message to companies like Clearwire is clear: Companies who play by the rules, create jobs, and invest in building out competing networks are now at risk of seeing their plans entirely upended by the FCC's arbitrary "unique" circumstances in favor of a competitor who developed the right political influence and who made the right political financial contributions.

but Michelle , Barack and cronies didn't invest in Clearwire, so Clearwire should play by the rules..

 

[Steve]

From April, 2009

Your's and Soaps and all the other rightwingnuts silence to the subject- and refusing to comment looks like backslapping to me.....

http://ranchers.net/forum/viewtopic.php?p=367682#367682

shhhhhh.. the liberals are asleep :shock: