LightSquared CEO Resigns Amid Appearance of Bribery

Posted by Unknown on Wednesday February 29, 2012 @04:30AM from the punished-with-huge-severance-package dept.

New submitter msauve writes "LightSquared, the company who's request to use make use of spectrum in a way likely to interfere with GPS was recently denied, has suffered another setback. CEO Sanjiv Ahuja has now resigned, only a week after a report detailing political contributions and the personal financial interests of Obama and officials in his administration in SkyTerra, the precursor company to LightSquared. Ahuja's one and only contribution to the Democratic Party occurred on the same day he tried to arrange a meeting with Obama administration officials, apparently as part of LightSquared's desire to fast track FCC approval of a change beneficial to the company."

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Re:Important to note by GrumpySteen · 2012-02-29 05:01 · Score: 5, Interesting

The only thing 'funny' about it is that LightSquared's CEO didn't anything for his 'donation'. No private audience with Obama and no fast-track approval for the company's idiotic plan.
The Democratic Party took the donation and treated it as a donation while the administration killed the company, which is exactly what should have happened. For once, the system worked as intended.