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LightSquared Signs AirTouch Communications

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Sep 26, 2011, 12:40 PM

AirTouch Communications? This is a scam.

First off, what is this, 1999? If you're going to run a Ponzi scheme, don't do it with an already damaged-goods brand.

I'm going to go out on a limb and do Phonescoop a favor by editorializing that this is clearly a scam (think Zer01) to prop up LightSquared's legitimacy when in reality it is a ponzi scheme. LightSquared is signing up BS investment partners to prop up their own worth in order to sign IOU's to early investors. I question even if they own the brand name, which has long been ditched since the Verizon merger (they say they have it under license but I bet when this fails they won't have paid a dime) , but even if they do this is purely a BS press release.

Using the LightSquared network, AirTouch will offer i
Scam? As much as i joke about it, I think LightSquared is giving it all they got on repurposing this slice of spectrum. There are billions to be made on the off chance they get buyoff.

I doubt any of these contracts have upfront costs anyway. Th...
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