LightSquared is a wireless operator run by a hedge fund. Chances are you haven’t heard of them because, well … their network hasn’t actually launched yet. They’ve been wanting to build a wireless network for about 18 months now, but the problem is that the spectrum they want to use to build said network sits way too close to the spectrum that GPS devices use to get a signal from the satellites up in space. Early testing showed that GPS receivers within a 20 mile radius of a LightSquared cell tower simply failed to get a signal. LightSquared needs the FCC’s stamp of approval before they can start building, and that decision has been delayed more times than we care to count. The newest deadline is mid March. Now that you’re all caught up, let’s dive into the latest LightSquared disaster.
Todd Ruelle isn’t a LightSquared employee, but he contacted Chuck Grassley, a senator from the state of Iowa, and told him that if he “pulled his punches” and got LightSquared’s network approved that LightSquared would reciprocate the favor and open a call center in his state. LightSquared is obviously trying to distance themselves from Ruelle by playing the “he’s not on our payroll” card. Who does Rulle actually work for anyway? He’s an executive at Fine Point Technologies, which is a company that provides services to internet service providers. The offer a service called Mobiture that:
“Enables wireless service providers to better manage their network with real-time data on network performance and provide more effective customer care to subscribers by empowering CSRs to resolve issues for subscribers on-the-go.”
This guy is probably either working with LightSquared as a contractor or submitted a bid to LightSquared, but either way, this doesn’t look good for the company. That being said, Carl Icahn just bought up $300 million worth of LightSquared debt, so he sees something we’re obviously missing.
[Via: Phone Scoop]