Sat, Jan 21, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Harbinger's LightSquared announces new public outreach initiative and the political clout behind it

Thursday, July 07, 2011

Byron Dorgan
Opalesque Industry Update - Hedge fund manager Philip Falcone may not be thrilled with one politician for alluding to him as a serial violator of securities laws, (Source), but that doesn’t mean that Falcone doesn’t value political ties. Falcone’s enormous investment, 4G wireless telecommunications network, LightSquared announced on Thursday that former North Dakota Senator Byron Dorgan, along with former Texas Representatives George Nethercutt and Charlie Stenholm were joining Empower Rural America Initiative that the firm created.

According to a statement the initiative will work to:

  • Resolve any GPS related problems related to precision agriculture and other areas;
  • Ensure that the LightSquared satellite network can help rural markets augment their broadband and GPS services
  • Address public safety concerns
  • Help close the broadband adoption gap in rural America

The announcement of the initiative comes on the heels of a $265m asset raise announced this week (bringing the firm’s total one year asset raising to $2.3bn).

Byron Dorgan served in the United States Senate from 1992 through early 2011. Amongst the things he was known for while serving public office was his strong position backing Net Neutrality legislation, and was one of only 8 senators who voted not to appeal Glass-Steagall in 1999, saying “I think we will look back in 10 years’ time and say we should not have done this, but we did because we forgot the lessons of the past, and that that which is true in the 1930s is true in 2010.”

Regarding his involvement in the Initiative formed by LightSquared, Doran said, ““There is an overwhelming need for reliable wireless broadband for public safety, education, healthcare and economic development in rural America. We can have a robust, accurate GPS network and also create a substantial new resource for rural America in the form of a wireless network that reaches areas that still don’t have broadband access.”

Kirsten Bischoff

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised