“Billionaire Philip Falcone’s LightSquared Inc. struck a 15-year deal with Sprint Nextel Corp. to share network expansion costs and equipment in an effort aimed at making both stronger wireless competitors,” Devin Banerjee reports for Bloomberg.
“LightSquared will pay Sprint to build and operate a nationwide wireless network that uses high-speed long-term evolution, or LTE, technology, the companies said in a statement today,” Banerjee reports. “During an 11-year period, LightSquared will pay Sprint $9 billion in cash and credits valued at about $4.5 billion. Sprint can use the credits to acquire capacity from LightSquared, which plans to offer wholesale wireless service to consumer electronics companies and other telecommunications operators.”
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“LightSquared, backed by Falcone’s Harbinger Capital Partners hedge fund, has drawn questions from the Federal Communications Commission and the Federal Aviation Administration over concerns it may interfere with global- positioning systems,” Banerjee reports. “The company may cost 794 lives in aviation accidents over 10 years as it disrupts satellite-aided navigation and at least $70 billion as aircraft owners forgo the advantages of using GPS and purchase new equipment, the FAA said in a study this month.”
Read more in the full article here.
[Attribution: Electronista. Thanks to MacDailyNews Reader “Edward Weber” for the heads up.]
I thought Sprints’ roadmap was WiMax?
Killer deal?
It is for Sprint, but Apple should have been the one to make Sprint the offer! Think about it.
I really think we need to get these damn government regulators off their backs. Let’s get back to the 19th century, when a robber-baron could do a good, straightforward, clean job of making a gazillion dollars without prancing around with nitpicky little concerns like people dying, farmers struggling to get by (see original article) and so on.
I love how the balanced budget amendment (not a bad idea in itself mind you) is being ramrodded through by the party that voted to raise the debt ceiling under Reagan 18 times and under G W Bush 7 more times. THAT IS A FACT.
The minute the Republicans aren’t in control is the minute they suddenly find some sort of fiscal morality.
I’m for a balanced budget amendment, but when you carry the Republican torch by posting a video like this, it makes me sick that people aren’t willing to stop rooting for their party like it’s their favorite sports team, and stand up and do what’s right, regardless of political affiliation.
Where were all your Republicans and tea party nuts when Bush was doing it???
The scale is what’s important. Obama has blown away all-time spending records. What he seeks will destroy the U.S.A. – his secret goal, just like his buddy Ayers’, they both hate the country – hopefully, the GOP will stop him.
You’re an idiot if you believe ANY of what you posted.
A) because your first sentence is factually incorrect and
B) because all you’re doing is parroting what your puppermasters at Fox news want you to believe. There’s no way you could possibly know what the president thinks.
C) you think the GOP is the answer to any of our nation’s problems when they’ve been as much to blame as anyone else for the current situation.
The democracy and republicans have been pigs at the people trough.
We need to have a limit and use the money wisely.
The President is hopeless in this effort. Other Presdent were no better. But our spending is now at the point of a runway. We have little left and when China blows past use say goodbye to the credit.
Better pull hard on the stick now no matter what party is in office.
It is hilarious for you to say:
” it makes me sick that people aren’t willing to stop rooting for their party like it’s their favorite sports team, and stand up and do what’s right, regardless of political affiliation.”
and then say:
“You’re an idiot if you believe ANY of what you posted.”
Funny how you’re non-partisan until someone points out how Obama has blown up the US budget.
Ford, Carter, Reagan, Bush, Clinton, and Bush have all been irresponsible in their spending. I wish every single one of them had balanced the budget (And really done it, not with fake accounting.)
Obama has done more damage than all of them combined, however. Doesn’t make them right, and it certainly doesn’t make him right.
The problem is, leftist (and many rightists) don’t understand basic economics. So we get corrupt handouts to cronies and call it “stimulus” (When it is impossible for government spending to help the economy, by definition it does damage to it.) When you keep people ignorant, they think inflation is a rise in prices (not deficits and money supply) and they think government spending is “stimulus” and they think a lot of nonsense.
Educate yourself. Start here: http://mises.org.
And yeah, be the thing you advocate: Stop being partisan. Recognize they’re both wings of the same tax & spend party.
That Kool-Aid refreshing? You sure are drinking enough of it.
http://en.m.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms
This reminds me of the graph posted by democrats showing how the economy declined sharply on January 1, 2001 (and I’m sure similar ones were posted showing a decline in January 2009).
The fallacy is that the economic damage done by a president and party in power takes time to take effect. Much of the damage we’re suffering from now, was done back in the days of FDR. Some damage can show up relatively quickly, though.
Your chart is actually bad for democrats, because by the time the damage they do is done, usually a republican is in office (because people have gotten sick of it and want a change.)
But of course, making up a chart that shows republicans are bad is good for people who want to make a political point but don’t really care about the truth.
It just relies on economic ignorance and gullibility to work.
Here here!
Honestly, we should just subsidize the Farmer’s by converting all their farmland into graveyards, that way we can just bury them where they lay.
I say, we do it and kill all ‘dem birds with one stone; green up the countryside, bail out the Farmers, give Sprint a network to die for and Boo-yah!
Everybody out of the pool!! It’s time to let the riff-raff get their feet wet.
While their at it, the Barrons could each donate a slice of ‘Net and give the really po-folk among us free 56k Dial-up and they’ll be consumed with death by a thousand STDs.
Where have all the po-folk gone?
LightSquared massing.
Where have all the slo-folk gone?
Gone, to clear the way.
Where have all the po-folk gone,
gone to Dial-up everyone.*
When will we ever learn?
When will we ever learn.
*Once you go Dial-up, you can’t come back! Please see this and other fine print, which may be obtained from our legal department. This comment and all subsequent opinions are not shared by our sponsors. Offer good only in states that value the Confederate flag, all others are deemed out for themselves and agin’ us.
@seamus
You must be a Rush Limbaugh listener 😉
The Liberal lies and hoaxes are being exposed. Loser scammer Al Gore won’t be making his billions after all.
“NASA satellite data from the years 2000 through 2011 show the Earth’s atmosphere is allowing far more heat to be released into space than alarmist computer models have predicted, reports a new study in the peer-reviewed science journal Remote Sensing.
The study indicates far less future global warming will occur than United Nations computer models have predicted, and supports prior studies indicating increases in atmospheric carbon dioxide trap far less heat than alarmists have claimed.”
Via Forbes
Funny how people like you have been screaming that NASA’s climate research is junk science…. UNTIL they publish something that you agree with. Suddenly it’s gospel.
BTW, the research says no such thing, and is being interpreted by an unqualified source, the Heartland Institute, an extreme right-wing think tank.
So, nice try, but no.
The AGW scam is over. Give it up.
Funny how you have no facts, just your lame opinion. I bet you couldn’t even pass a basic high school science class.
Hilarious that you say that about someone who just posted a quote from NASA research, yet you are seemingly unaware that all you’ve done is insult people.
AGW is easily disproven. If you understand the science. CO2’s absorption of IR is less than water vapor. That’s it. That fact is not in dispute by anybody, and it makes AGW theory impossible.
I think it is hilarious that every AGW proponent is snotty and claims science is on their side, but I’ve yet to meet one who understood the basic science involved in this issue. The best they can claim is that “all scientists agree” which, not only is obviously false, but isn’t the way science is done. At one point “all scientists” agreed that the earth was the center of the solar system.
AGW was disproven by climate gate, also, as it came out that the proponents were cooking their numbers, literally fabricating results.
It is also disproven by the fact that the planet is currently getting cooler, even though CO2 is rising each year.
Also, by the graphs AGW proponents like to put up– like Al Gore’s in his movie– that shows CO2 rises *after* the planet heats up. Of course, dishonest Gore obscured that so he could claim that CO2 caused a rise.
In fact, can you point me to a single verifiable scientific proof or evidence that CO2 increases cause an increase in global temperature?
I don’t mean blog posts by ignoramuses like yourself making the claim, but actual science? I’ve never seen any.
By the way, I used to work in a national lab, am published, in peer reviewed papers, have worked with scientists most of my life, and am, in fact, a scientist myself. The “science” AGW proponents practice is itself a rejection of the scientific method.
1
Is this going to be as (un) successful as their partnership with Clearwire?
What is up with all the global warming fears? The climate will go through cycles. 70 million years ago it was warm with south-east United States climate and vegetation. The earth was Lush with life and had some of the largest land animals ever. Due to the warm climate and large growth of plants around the world, oxygen levels were higher and most likely aided the size of animals.
Then it went through the ice age and most of north America was under ice sheets. We have been going through global warming ever since. Now it seems this is bad because we define what we want the climate to be. So, a few yell global warming and then change to climate change and whatever happens is up to mother nature. It has been 900 degrees average temperatures down a basic snowball of a planet back to were it is today.
As far as I am concerned, Al Gore and the other alarmist are simply milking money from the deceivable masses. The planet will be here long after us and the dinosaurs of the past. Choose one of the 4.5 billion years of climate you like and then try to make it be. I will LMAO at the folly.
Species come and go, get over the God complex and lives one life when we cover a scant 65 years on the planet, floating in space, in the milkyway galaxy, with the other billion of galaxies out there.
Geeeez! Who care wat the idioits yell about global warming. They can not predict the weather more than seven days and there models lose everyday on predicting a path a hurricane is taking. LMFAO!!!
I agree with your sentiment, but I wanted to point out that the earth has been going thru ice age cycles over and over and over. It wasn’t just one. They happen every hundred thousand years or so, and have for millions of years….