LightSquared Prepping for Bankruptcy
Beleaguered LightSquared, the Philip Falcone-backed mobile broadband company, is teetering on the edge of bankruptcy. The company has been negotiating with lenders in recent days to restructure its debt and avoid defaults. According to the Wall Street Journal, however, it has been unable to reach such agreements. LightSquared has until 5PM today to resolve debt issues with its lenders. If it cannot, it will likely seek bankruptcy protection. LightSquared hoped to build a nationwide LTE mobile broadband network, but the Federal Communications Commission blocked the plan, citing interference issues with nearby GPS signals.
Turing Robotic Industries Declares Bankruptcy
Turing Robotic Industries, a company that promised to create a sleek, secure smartphone nearly three years ago, has moved into insolvency. TRI was located in Finland and formed by some ex-Nokia employees.
Microsoft Still Working Through Windows 10 Mobile Builds
Microsoft today said new builds of the Windows 10 Mobile Technical Preview are on the way, even if they are rolling out slower than the company hoped. In a blog post, Microsoft explains that it encountered several large issues that forced it to reset its approval process three times over the past several weeks.
Rdio Will Shutdown December 22
Rdio, which is in the process of being acquired by Pandora, will go offline worldwide on December 22. The company said it looks forward to adding its unique features to Pandora down the road.
Sprint to Cut Headcount and $2.5 Billion in Costs
Sprint is prepared to reduce expenses by as much as $2.5 billion over the next year, reports the Wall Street Journal, and is likely to cut jobs to help it reach that goal. An internal memo sent to staff by CFO Tarek Robbiati obtained by the Journal said the cuts "inevitably will result in job reductions." Sprint had about 31,000 employees as of March.
This Is So Wrong On So Many Levels
Out of left field, claims (true or not) stated that their operation as going to interfere with GPS systems and as I consumer I was concerned as were many of us regarding this matter,
Now just MAYBE I have this oversimplified but should LightSquared be offered some sort of compensation, concession, refund or something for this purchase instead of being given the bums rush,
I am not totally dogmatic on this, yes I am a PROUD Sprint Fan Boi to the core, but this has nothing to do with my question.
I just want to see some fairness here,If my facts are out of ...
The spectrum was never intended for terrestrial broadcast use.
LS asked the FCC to grant an exception to t...
Is LightSquared arrogant?
He hit it big because of the housing bubble burst, made tons of money on a flyer and hasn't done anything since.
This was another flyer and it was a total loser.
He's also being investigated on several levels.
So I heard..