[time-nuts] LightSquared in the news again

[Charles P. Steinmetz]

Chris wrote:

>Actually LightSquared is an investment firm.  They don't make any
>"technology product".   The company is run by a banker.  Had their plan
>worked they would have ben in effect a radio wholesaler buying from
>producers and sellers to retailers who would then sale to end users.  They
>never intended to make or invent anything.  Basically they would do deals
>and swap cash.   From the start, really their plan was always to have more
>lawyers than engineers.

Not entirely accurate.  The holding company, Harbinger, is an 
investment firm/hedge fund.  The operating entity (LightSquared) is a 
facilities-based provider.  It already owns one or more satellites, 
and has plans to build a terrestrial network.  Its business model is 
wholesale -- that is, it would sell capacity to other entities, not 
to retail customers.  But that capacity would be on its own 
facilities-based network, not acquired from other wholesalers (except 
perhaps at the beginning, as it was building out its own 
network).  Of course, that is all in limbo now.

Best regards,

Charles