LightSquared CEO resigns
The environment at LightSquared was already pretty grim after the FCC recently revoked the aspiring wireless carrier’s terrestrial tower license. And now it’s grimmer as CEO Sanjiv Ahuja has stepped down, along with an executive vice-president, according to the Wall Street Journal. LightSquared, depending on who you talk to, either faces “an uncertain future” or is dead already and wandering around unaware like Bruce Willis in The Sixth Sense. The slice of spectrum it sought to use for wireless service was found to interfere with GPS signals, although LightSquared claimed the tests were unfair.
All this comes at a time when Republicans in Congress are charging that the Obama administration gave preferential treatment to LightSquared financier Philip Falcone, who had contributed to the Obama campaign. Falcone says he’s a registered Republican who contributes to both parties.
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