LightSquared ‘significantly interferes’ with GPS receivers, panel

A multi-agency government panel says the proposed Lightsquared broadband wireless network would interfere with GPS and several safety-of-life systems.

Lightsquared is primarily financed by Harbinger Capital, which is controlled by Philip Falcone, a politically connected billionaire now under investigation for securities fraud. Lightsquared has relentlessly been nasty and contemptuous of anyone, including the government, who criticizes their plan. I mean really, so what if safety-of-life systems get interfered with so long as the 1% gets to make more money.