LightSquared: Going from bad to worse
Things are not looking good for LightSquared, the wireless startup that had planned to build a nationwide wireless broadband network.
Today, Reuters reported that the company said it plans to cut 45 percent of its workforce to conserve cash.
"This and other cost savings measures will allow LightSquared to continue to navigate the regulatory process as it works with the appropriate government agencies to find solutions to the GPS interference issue and bring its $14 billion privately funded wireless broadband network to more than 260 million Americans," according to the statement.
And yesterday, several news outlets reported that … Read more