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LightSquared Ponders Bankruptcy
No Product, No Waiver, No Future, No Chance

Surprising, well, nobody -- hedge fund manager and LightSquared's primary backer Philip Falcone says they're considering bankruptcy proceedings for LightSquared after the FCC (and potential interference with GPS technology) plunged a dagger into the heart of the project. Falcone told Reuters this week he's "seriously considering" filing a voluntary bankruptcy for LightSquared, which reported a $427 million net loss during the first nine months of 2011. With dwindling cash, no necessary FCC waiver, and no product -- there's not many options to consider. Falcone insists that bankruptcy would give the company time to manage GPS interference issues at least one report claimed couldn't really be corrected.