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Author Topic: Falcones Harbinger likely Toast, LightSquared network rejected  (Read 1680 times)

Josh4580

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Falcones Harbinger likely Toast, LightSquared network rejected
« on: February 14, 2012, 06:54:19 PM »
http://online.wsj.com/article/SB10001424052970204795304577223764266276288.html?mod=WSJ_hp_LEFTTopStories

I dont see how Falcone can come back from a likely complete loss of a 65% position.  Any thoughts?
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Parsad

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #1 on: February 14, 2012, 06:58:57 PM »
Probably also means that he's going to default on the $150M loan Jefferies just gave him at 15%!  Cheers!
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moore_capital54

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #2 on: February 14, 2012, 07:47:27 PM »
Quote from: Parsad on February 14, 2012, 06:58:57 PM
Probably also means that he's going to default on the $150M loan Jefferies just gave him at 15%!  Cheers!

$190 million :(

Personally, I feel bad for Falcone he is the type of manager I like to see succeed...
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brker_guy

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #3 on: February 14, 2012, 11:10:46 PM »
Well, now you know why Clearwire has been inching up everyday....
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Ben Graham

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #4 on: February 15, 2012, 12:43:05 AM »
Quote from: brker_guy on February 14, 2012, 11:10:46 PM
Well, now you know why Clearwire has been inching up everyday....

Give me an inch and I'll take it a mile. Clearwire can support Sprint's wireless network. Then run it by me again ok  ;)
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brker_guy

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #5 on: February 15, 2012, 06:04:18 AM »
So much for that grand plan of "Network Vision" by geniuses at Sprint now.

Like I said before, I sure hope they have a good Plan B in place...  Also, can someone powerful call for the head of Dan "the Hustle" Hesse?  His days at Sprint are numbered!
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stahleyp

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #6 on: February 15, 2012, 06:04:42 AM »
From what I've read, the loan is $160 million and the $30 million went for fees. So the effective rate was 24%. There is a bunch of collateral backing it, too, for what that's worth.
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Paul

racemize

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #7 on: February 15, 2012, 06:12:50 AM »
Quote from: stahleyp on February 15, 2012, 06:04:42 AM
From what I've read, the loan is $160 million and the $30 million went for fees. So the effective rate was 24%. There is a bunch of collateral backing it, too, for what that's worth.

hope so, I have indirect exposure via LUK.
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Ben Graham

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #8 on: February 15, 2012, 06:23:56 AM »
Quote from: brker_guy on February 15, 2012, 06:04:18 AM
So much for that grand plan of "Network Vision" by geniuses at Sprint now.

Like I said before, I sure hope they have a good Plan B in place...  Also, can someone powerful call for the head of Dan "the Hustle" Hesse?  His days at Sprint are numbered!

Quote from: stahleyp on February 15, 2012, 06:04:42 AM
From what I've read, the loan is $160 million and the $30 million went for fees. So the effective rate was 24%. There is a bunch of collateral backing it, too, for what that's worth.

brker_guy,

My yellow brker hat goes off to you with your call for the headless horseman, to deliver on a silver platter, a Hesse head.

stahleyp,

Do I detect robber barons using questionable practices?
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(3) Principles of Value Investing

First, think of stocks in the same way that a business person would think of a business. Second, do not follow but instead try to take advantage of the manic depressive Mr. Market. Third, always look for a margin of safety.

http://www.bengrahaminvesting.ca/

jacobwolinsky

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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #9 on: February 15, 2012, 06:34:45 AM »
Why did he put so much money into something that needed Gov approval from more than one agencies? Hubris? Or am I missing something?
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Re: Falcones Harbinger likely Toast, LightSquared network rejected
« Reply #9 on: February 15, 2012, 06:34:45 AM »
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