Ina Fried

Recent Posts by Ina Fried

Next Chapter in LightSquared Saga Could Be Chapter 11

After failing in its bid to launch a wholesale wireless network, LightSquared may be headed for a bankruptcy filing.

Chief backer Phil Falcone acknowledged the possibility in several interviews on Tuesday, including an email to The Wall Street Journal.

“Spectrum value does not decrease in bankruptcy,” he said in the email. Falcone earlier mentioned the possibility of a bankruptcy filing to Reuters.

LightSquared has spent billions to try to build a 4G wireless network that it could lease out to others. However, regulators revoked their tentative approval for the plans amid concerns that there would be unavoidable interference with existing GPS devices.

The company had signed several deals ahead of the regulatory move, including a pact with Sprint that has since been terminated.


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Another gadget you don’t really need. Will not work once you get it home. New model out in 4 weeks. Battery life is too short to be of any use.

— From the fact sheet for a fake product entitled Useless Plasticbox 1.2 (an actual empty plastic box) placed in L.A.-area Best Buy stores by an artist called Plastic Jesus