Politically-connected LightSquared pushes wireless Internet plan despite GPS concerns

By John Aloysius Farrell and Fred Schulte

New wireless Internet from politically connected LightSquared could jeopardize GPS

Excerpts from this story referencing "Falcone":

"… operate.LightSquared’s current majority owner, hedge fund manager Philip Falcone, made large donations to the Democratic Party while his broadband request …"

"… CC. He and LightSquared executives met with White House officials. Neither Falcone nor the White House would comment on what was discussed. LightSquared …"

"… over possible GPS interefence.In two rulings, the FCC gave its blessing to Falcone’s purchase of the company on March 26, 2010, and for a waiver of FCC rul …"

"… il there are assurances it won’t disrupt GPS signals.Grassley noted that Falcone is facing an ongoing investigation by the U.S. Securities and Exchange Com …"