LIghtSquared Gambles 7 Billion Dollars then Hires a Corrupt General Counsel, Curtis Lu Formerly of Time Warner Inc. - Why?

July 2010 Headlines Read:

"LightSquared's Big Gamble: A Brand-New Wireless Network"

"NEW YORK (CNNMoney.com) -- Watch out AT&T, Sprint and Verizon: A whole host of super-fast wireless services could be coming down the pike.

LightSquared, a new 4G wireless network backed by private-equity firm Harbinger Capital Partners and to be built by Nokia Siemens, is set to roll out starting next year.

By 2015, LightSquared intends to have its network covering 92% of the U.S. population, the company announced this week.

"4G" is a term used for the next generation of wireless networks, which promise to deliver broadband-like download speeds over the air that are up to 50 times faster than 3G (though actual speeds will be slower).

Sprint (S, Fortune 500) has already begun to roll out its 4G network, and Verizon (VZ, Fortune 500) and AT&T (T, Fortune 500) are planning on unveiling 4G networks soon -- Verizon at the end of this year and AT&T in 2011.

A new player in the wireless market is a rarity these days -- there's more consolidation than new blood.

Nokia Siemens said it will spend $7 billion building up LightSquared's network. That's a big gamble few companies can afford to make.

But that's not the only reason LightSquared's new network is significant: The company says it doesn't plan to sell directly to consumers. Instead, it will wholesale its network to retailers and service providers.

"LightSquared is hoping to accelerate the ability of other service providers to offer 4G services to consumers," said Dan Hays, a partner at consulting firm PRTM. "This opens doors for additional competitors and new innovation."

0:00 /4:17The 4G network behind Sprint's EVO
Here's how it might work: Under one hypothetical scenario, a big retail company like Wal-Mart (WMT, Fortune 500) could decide it wants to start selling mobile phones with "Wal-Mart Wireless" branding.

So Wal-Mart would sign a deal with LightSquared to use its 4G network, but Wal-Mart would sell the service and the devices to its customers.

Another potential customer pool is existing, low-budget wireless providers like T-Mobile or MetroPCS (PCS), which have very limited networks of their own. These providers could buy bandwidth from LightSquared to offer 4G service without building out their own infrastructure. Leap Wireless' (LEAP) Cricket already does something similar with its 3G service.

But the real growth potential is in wiring up devices that aren't currently connected to the Internet.

No one thought books needed to be broadband-enabled -- until Amazon (AMZN, Fortune 500) introduced the Kindle e-reader.

The first generation of Kindles ran on Sprint's network. (Kindle customers don't pay access fees for that bandwidth; Amazon foots the bill, reasoning that it will sell more e-books to customers who have ubiquitous access.)

But Amazon later switched to AT&T, which now powers all the major e-readers, including Sony's (SNE) Reader and Barnes & Noble's (BKS, Fortune 500) Nook. Apple's (AAPL, Fortune 500) iPad also runs on AT's network. Adding competition to that market for "white-label" broadband access could help bring down prices for consumers.

It also opens up new product possibilities. Right now, the Big Three wireless network operators have been hesitant to license bandwidth to other companies for services that could cannibalize their own.

For instance, General Motors' OnStar system uses Verizon's network, but Verizon offers similar roadside assistance and navigation systems. It's a tense balancing act.

LightSquared won't have those conflicts of interest, because it's not trying to sell directly to consumers. If it gets its network built, it will want to hawk bandwidth to anyone with the cash to buy it.

"LightSquared will be a disruptive force in the U.S. wireless landscape by democratizing wireless broadband services," LightSquared CEO Sanjiv Ahuja said in a prepared statement. "We're not only delivering exciting opportunities for manufacturers and retailers, but also real change for consumers."

Source of Post
http://money.cnn.com/2010/07/21/technology/lightsquared_wireless_network/index.htm

LightSquared Gambles this Kind of Money then Hires the General Counsel FROM Time Warner Inc. ? Lightsquared has Some Investment Secrets somewhere other wise they would NOT have Hired Curtis Lu as their LightSqaured General Counsel.

LightSquared must be in "bed with" some Trillion Dollar Players and those who Stole the Iviewit Technologies.. it is EASY to prove that Time Warner Inc. FAILED to Honor License Agreements, Non-Competer Agreements and More.. and Easy to Prove that Curtis Lu Connected the Iviewit Founder Eliot Bernstein a few months back to ask what his Risk is as the Time Warner Inc. General Counsel, then Curtis Lu Pops up as the General Counsel of LightSquared - believe me there is alot more to this story..

So Send me your Tips..
Crystal@CrystalCox.com

I Bet LightSquared is RIDDLED with Conflicts of Interest.

Wal-Mart and LightSquared? Hmmm..

Nokia Siemens - ... these Companies USE the Iviewit Stolen Technology.. Right?
http://www.reuters.com/article/idUSTRE66J2ZT20100720

this Is NOT a Gamble and the Monopolistic Players involved KNOW IT..

So Where Does the Corrupt Law Firm Proskauer Rose LLP Come into all this? Well Soon we shall find out.. Curtil Lu is not General Counsel of LightSquared for No Good REASON..

oh and Surely Lehman Brothers is in on this One.. Connection to Harbinger Capital?
or maybe Neuberger Berman INC. ?

email me your tip
Crystal@CrystalCox.com



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