I got this from DSLREPORTS, via a link in the Cybertelecom-L list.
Hoping to Expedite Government Approval Process by Karl Bode Thursday 12-Jan-2012
LightSquared's primary backer, hedge fund billionaire Philip Falcone, last week met with FCC officials in the hopes of expediting government approval of the LightSquared network in the face of continued political opposition and concerns about GPS interference. "We discussed various alternative technical solutions that will effectively and economically allow GPS devices to work as intended, and still allow the deployment of the LightSquared network," the company said in a filing. Recently things have started looking more troubled for LightSquared, with the company running out of money and primary financial backer Phillip Falcone facing a potential SEC investigation for securities fraud.