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LightSquared Files For Bankruptcy

Posted by Soulskill on from the can't-wait-for-the-new-conspiracy-theories dept.

fallen1 writes "Wireless broadband company LightSquared has filed for bankruptcy. In filings with U.S. Bankruptcy court, it was revealed that LightSquared had assets and debts of over $1 billion each. The decision followed a year-long fight between LightSqaured and GPS users — including some heavyweights like FedEx and UPS. Apparently Boeing and Alcatel-Lucent are heavily invested, but it would be interesting to see what the old Bell Labs could do with the technology."

2 of 138 comments (clear)

  1. Ok, scratch that business plan... by busyqth · · Score: 5, Funny

    1) Come up with profitable idea that violates the laws of physics
    2) Use political influence to get around the laws of physics
    3) PROFIT!

    ... well maybe not.

  2. Re:It's a shame this couldn't be mutually resolved by busyqth · · Score: 5, Funny

    If there's one thing I've learned from management seminars, it's that "thinking outside the box" is a very powerful tool.
    In fact, since I've started applying this principle in my daily life I have been able to do all sorts of things that the average guy wouldn't think are possible, such as levitate, wall through walls, bend spoons with the force of my will, and build perfect notch filters.