"LightSquared Is Doomed"

Finally it seems someone is listening. Hope all those Washington/political investors lose a ton of money on this fiasco.

I'll believe it when I see the stake thru it's heart!!! Anyone got a hammer???

Fred

Glad I didn't put any money toward that white elephant.... I especially like the last line: "It is time for LightSquared to be shuttered. It is a waste of investor money because its technology is not only being fought by the government, but it is also largely useless."

Let's hope they won't be "too big to fail", and they will end on list of federal "help for bankrupts". From their (dis)information campaign it looked for me like they were aiming into something of this kind.

or be politically in the same category as Solyndra!!!

Fred

From everything I've read, it's going impossible to get it to work without massive interference issues.

http://www.bloomberg.com/news/2012-04-04/falcone-says-bankru...

One more little step, LightSquared is gone for good.

Maybe you didn't hear, Fred, but the Chinese heard of the US loans to develop solar panels and they GRANTED cash to their businesses to compete with Solyndra. The fault is not with the loan, but with not penalizing Chinese imports with duty fines.

So let me get this straight, the current elected US representatives are the good guys by giving money to a private company to manufacture a product, and the Chinese by doing the same are the bad guys?

Don't you think it would be best if our rulers both theirs and ours stay out of private industry and let free markets do their thing?

Thanks for posting. Glad to see it is finally going down in flames

Loan = borrowed money, the intent of which is to invest in a company and have that loan repaid.
Grant = Government subsidy, an unfair trade advantage intent on destroying competition. Japan tried that with motorcycles, but was caught and tariffs restricted that move. China has been doing that to far too many industries.

"Free market" is flawed, unless you want to work a 12 hour day for a bowl of rice like in the underdeveloped countries. Try to sell oranges or beef to Japan. They protect their economy as should we.

It's a pleasure to finally see politically connected, ill-conceived projects & their funding go down in flames!

The people who recommended the project should also be let-go for their technical stupidity & corruption.

Such is how it has become in Washington, I'm sorry to say.

Fred

I was surprised it actually died-I figured lobbyists would triumph over science, but that didn't happen. It's great to see the system work as it should every now and then.