LightSquared files for bankruptcy-gctid381209

[SomeSailor]

Neah... They're done.

No one wants to be in the room with them now. Other broadband providers like Swift Broadband (Inmarsat), Aircell, GoGo, OnAir and Panasonic are gonna run off and leave them.

There are executives at the companies above doing the happy dance right about now.

Too bad, it would have been good for all of us. But as noted above, they still can come back. A likely scenario is that the "reorganize" their debt so they are paying pennies on the dollar, sue a bunch of people, and come back with some cash and low debt. Worked for Iridium.

[SomeSailor]

They're getting prepared to unleash some serious lawsuits. We were in pretty thick with them at Boeing for our off-board broadband. Oh well... lots of others out there selling Ka and Ku Band pipe.

The risk to GPS just wasn't worth it. Close call.

unfortunately only chapter 11 and not 7... The game is only over once they are gone (chapter 7)!

[CaptTom]

http://money.cnn.com/2012/05/14/technology/lightsquared-bankruptcy/

Good riddance!