LightSquared Flunks GPS Interference Tests: What Now?
http://www.insidegnss.com/node/2689
"The gloves have come off now that test results show clearly the
probable effects on GPS of LightSquared’s proposed wireless broadband
network: widespread, debilitating interference to GPS receivers.
"Grassley Steps Up the Pressure
"The Hill activity most potentially damaging to LightSquared’s plans in
the near term, however, is not legislative. It is a request from Senator
Chuck Grassley, R-Iowa, for copies of FCC communications about LightSquared.
"Grassley said in a July 5 letter that the FCC had intentionally ignored
his April request for copies of communications between the commission,
the White House, LightSquared, its primary backer Phil Falcone and the
Harbinger hedge fund he controls.
"In the second letter, which was sent to the FCC and posted as a press
release, Grassley said that Falcone was being investigated by the
Securities and Exchange Commission for market manipulation, violations
of the “short sale rule,” and for taking a $113 million loan from his
hedge fund without investor permission. He also asked if the commission
had “safeguards to ensure that valuable spectrum allocations are not
made to serial violators of our nation’s securities laws.”
"Grassley does not appear to be backing down. A Grassley spokeswoman
told Inside GNSS in an email about the meetings that their office
“reiterated that one of the reasons behind the senator’s document
request to the FCC was to ascertain whether the agency conducted due
diligence on behalf of the public in advancing the company’s project,
including whether the FCC should grant approval to a company whose
primary funding source is under multiple SEC investigations.”
See:
http://www.insidegnss.com/node/2689