I was fascinated by these two side-by-side articles by Reuters News Service. The actually made it to page 3 and I doubt that Reuters wanted them to be printed beside one another.
Story one was about a poor company, LightSquared that developed a product that was going to provide a wireless broadband network all accross America. While that sounds great their “service” tended to interfere with all other GPS networks and satellites, even those used by our military. Still LightSquared fought the good fight and conviced the FCC to grant approval of the system. That’s when the firestorm started…actually no firestorm as you probably never heard of LightSquared (even though I included it in my top ten 2011 news stories – it was in No. 5). Stuff did happen as Congress (make that the Republicans) started getting involved and the FCC suddenly revoked their approval. The Reuters piece was all about the business and what their next step would be, perhaps bankruptcy! I thought this excerpt from the article was very interesting;
“Falcone, for whom LightSquared is the biggest investment of his Harbinger Capital Partners fund, said there was a plan for dealing with the Federal Communications Commission’s effort to withdraw permission for a land-based network. ‘There are other ways around this,’ he wrote in a second email, without offering any details.”
Story two was about a poor company that got a little more attention, Solyndra that tried to make solar panels except they were far too expensive for the market and they actually went bankrupt. The bad news for America is that B. Hussein Obama “invested” over a half a BILLION dollars in Solyndra even though documents showed that it would fail. Hey you win some and you lose some right. That’s been Obama’s response. Now for the good news – bad news! The good news is that when the federal government invests in your business and you fail/go bankrupt we are first in line for picking at the bones. Now for the bad news in that even though it is against the law this Obama White House changed the agreement allowing other investors to get in line first including a man named George Kaiser. This essentially will leave us empty handed. That’s why the GOP is breathing down Obama’s neck and is poised to subpoena White House staffers (only because Obama won’t let them testify).
What I found interesting about these stories is that they are sort of connected in more than placement on the pages of my local paper. Both LightSquared investors and Solyndra’s George Kaiser were MAJOR BUNDLERS FOR THE OBAMA CAMPAIGN. So we have two somewhat controversial stories with a know link to payments to Obama’s campaign and that little fact is conveniently left out. Oh and Obama was an investor of LightSquared.
It makes you wonder what Falcone meant when he said “there was a plan for dealing with the Federal Communcations Commission…there are other ways around this.”