LightSquared is "Disappointed," It Might Wind Up Very Disappointed

LightSquared is "disappointed" that it now is embroiled in a political mess, but it is a growing problem that seemingly now overshadows the technical issues about interference with GPS that it had been fighting.

“It’s just very disappointing that people are not seeing the facts here, and [that] this has become a real political issue,” said PhilFalcone, a senior executive at the hedge fund firm Harbinger Capital, LightSquared's chief backer.

Technology executives in the past have not understood the powerful role the Federal Communications Commission and other regulatory influencers have in the communications business. That's one level of issues. What now has happened is that LightSquared has become embroiled in a larger story including Solyndra. Once these sorts of things get started, they tend to grow.

Objections from the GPS and military interests were big enough problems. Now there is a larger problem, namely a potential political scandal of some scale.

"I kinda scratch my head every single day and say I can’t believe this is happening,” said Falcone.

LightSquared "disappointed"