LightSquared Signs AirTouch Communications
AirTouch Communications? This is a scam.
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
I doubt any of these contracts have upfront costs anyway. The whole industry knows that LightSquared is on shaky ground, and I am sure each one of these contracts have contingency clauses. These companies are probably coming out of the woodwork signing $0.01/GB deals (which LS promptly bends over...willingly), hedging that if LS actually is approved, they are flung into a market with juicy margins where they can easily compete and steal business from the big guy(s)* (*note that this 's' is bound to drop off soon the way things are going!).
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