Can’t say it’s striking us as any sort of surprise, but the seemingly destined-to-fail LightSquared just might be out of options. After getting a high-five from Sprint and plenty of attention for its initiatives in bringing yet another wireless option to America, those blasted GPS interference issues (or “supposed” issues, depending on who you ask) eventually became too much to overcome. According to a breaking report out of The Wall Street Journal, Philip Falcone’s venture is seriously teetering on the edge of bankruptcy, as “negotiations with lenders to avoid a potential default faltered,” according to the ever-present “people familiar with the matter.” Purportedly, the two sides have until 5PM tomorrow to strike a deal that’ll keep the firm out of bankruptcy court (if you’ll recall, it owes over $1.6 billion dollars to various entities), but given just how far apart these sides remain, its fate seems all but sealed. We’ll be keeping an ear to the ground for more, but don’t go placing bets on yet another debt-term violationwaiver.
- Next story Another weekend, another stunner in local European elections, this time as Merkel’s CDU gets a record low vote in the state elections of Germany’s most populous state North Rhein-Westphalia.
- Previous story It’s Official: Greek Coalition Talks Collapse, Threatening Deal – New York Times
Today's Top Stories
- Scientists Baffled After Finding 10th Century Medicine that Kills Antibiotic-Resistant ‘Superbug’
- World’s First 3D Printed Building To Open In Dubai
- Peter Schiff: The U.S. is just as broke as Greece, its just that we can print dollars & is much more problematic…
- As the eyes of the world focus on Greece & its impending default, another debt crisis closer home is rearing its head again
- REPORT: Failed promises threaten Dem turnout for 2016
- UK prime minister: The absolute privacy of Facebook and Twitter users can no longer be tolerated
- NEXT GREECE MAY BE IN USA: Lurking Debt Threatens Cities, States… Businesses Shuttered… Residents Living Day To Day…
- Barack Obama Promises That Events In Greece And Puerto Rico Will Not Cause A Global Financial Crisis
- What Would You Do If Your Government Said SPACE ALIENS Are Attacking Earth?
- Gerald Celente: “China lowered their interest rates over the weekend, investors within Greece are in panic mode & the hypocrisy of Hillary Clinton on gay marriage. They all do the flip flop!”
- BRAWL AT SC STATEHOUSE OVER FLAG STARS AND STRIPES BURNING IN NYC
- Gerald Celente: We’re watching the financial system breakup in real-time