LightSquared Files For Bankruptcy 138
fallen1 writes "Wireless broadband company LightSquared has filed for bankruptcy. In filings with U.S. Bankruptcy court, it was revealed that LightSquared had assets and debts of over $1 billion each. The decision followed a year-long fight between LightSqaured and GPS users — including some heavyweights like FedEx and UPS. Apparently Boeing and Alcatel-Lucent are heavily invested, but it would be interesting to see what the old Bell Labs could do with the technology."
Re:It's a shame this couldn't be mutually resolved (Score:5, Insightful)
Lightsquared wanted to provide wireless internet at a price (not give). They also wanted to do it on the cheap so they could make money hand over fist. They failed.
Had they wanted to offer wireless at a fair price for a reasonable profit, they would have licensed spectrum appropriate for that application.
Re:It's a shame this couldn't be mutually resolved (Score:5, Insightful)
What?
They purchased air to ground spectrum and tried to re-purpose it as ground to ground spectrum. They sued when the FCC told them to go take a running jump.
Then tried to claim that GPS vendors were at fault for not having perfect notch filters in their equipment (hint such a thing is not physically possible)
Re:Ok, scratch that business plan... (Score:3, Insightful)
Yepper-de-depper!
Re:Ok, scratch that business plan... (Score:5, Insightful)
Or it could be that the executive staff just received some of the worst engineering advice ever. High-power terrestrial transmissions anywhere near the GPS band are forbidden not only by US law but also by international treaty, for reasons that could have been explained if these clowns had bothered to ask any qualified RF engineer.
Translating for the MBAs out there: "A lot of people who knew what they were doing agreed not to do stuff like this."
Lack of due diligence on Falcone's part does not justify making exceptions to the laws the rest of us have to follow.