Apr
5th
LightSquared Considering Bankruptcy
By dallaseste
LightSquared Considering Bankruptcy
LightSquared, the massive startup that has been trying to become the fifth national provider of wireless telephone and data service, is considering filing bankruptcy after a series of setbacks have conspired to put the company's plans in real danger. According to a CNN report, Philip Falcone says that the option of bankruptcy protection has become a strong possibility in recent weeks. Falcone is the CEO of Harbinger Capital Partners, the majority owner of LightSquared.
LightSquared, the massive startup that has been trying to become the fifth national provider of wireless telephone and data service, is considering filing bankruptcy after a series of setbacks have conspired to put the company's plans in real danger. According to a CNN report, Philip Falcone says that the option of bankruptcy protection has become a strong possibility in recent weeks. Falcone is the CEO of Harbinger Capital Partners, the majority owner of LightSquared.
Mar
19th
Sprint Shares Drop on Analyst Downgrade
By Frank Galvano
Sprint Shares Drop on Analyst Downgrade
Shares of Sprint Nextel Corp plunged Monday morning after analyst Sanford C. Bernstein downgraded the stock to an “underperform” rating over concerns the company won't sell enough iPhones to cover the enormous costs associated with its agreement with the tech giant. The company is facing a variety of challenges, including the high cost of network upgrades, a massive deb load and delays to launching 4G service due to LightSquared's failed attempt to turn its network on.
Shares of Sprint Nextel Corp plunged Monday morning after analyst Sanford C. Bernstein downgraded the stock to an “underperform” rating over concerns the company won't sell enough iPhones to cover the enormous costs associated with its agreement with the tech giant. The company is facing a variety of challenges, including the high cost of network upgrades, a massive deb load and delays to launching 4G service due to LightSquared's failed attempt to turn its network on.
Oct
7th
Sprint 4G Network 2 Years Ahead of Schedule
By Mike Goldman
Sprint 4G Network 2 Years Ahead of
Schedule
Sprint announced Friday it is about two years ahead of schedule in rolling out its shiny new 4G network, sending shares up briefly in morning trading. The nation's third-largest wireless carrier said it would begin turning the network on for some customers in the middle of next year, with initial coverage available to 123 million customers. The network will be completed, meanwhile, some time in 2013, with coverage potentially reaching 250 million.
Sprint announced Friday it is about two years ahead of schedule in rolling out its shiny new 4G network, sending shares up briefly in morning trading. The nation's third-largest wireless carrier said it would begin turning the network on for some customers in the middle of next year, with initial coverage available to 123 million customers. The network will be completed, meanwhile, some time in 2013, with coverage potentially reaching 250 million.
Apr
6th
New 4G Network Threatens Vital U.S. GPS Systems
By Kelly Curtis
A new, super-fast wireless Internet network is reportedly threatening to interfere with GPS signals across the U.S., potentially hindering the navigation systems of airplanes, police cars, and consumer navigation devices. The problem began when officials decided to let Virginia-based LightSquared construct a nationwide broadband network using airwaves very close to those used for GPS signals. Manufacturers of navigation equipment have warned that strong signals from the network could jam GPS signals, interfering with a wide range of navigation systems.
Dec
2nd
Verizon Launches 4G Network
By Kelly Curtis
Verizon Launches 4G Network
Verizon Wireless announced this week that after several months of hype, the compnay will finally launch a 4G network on Sunday that will reportedly offer coverage to one-third of the US population.
Verizon Wireless announced this week that after several months of hype, the compnay will finally launch a 4G network on Sunday that will reportedly offer coverage to one-third of the US population.
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