LightSquared, a wireless-by-satellite network start-up created by hedge fund billionaire Philip Falcone, hit its first roadblock with new findings that its service interferes with Global Positioning System receivers. A report filed Thursday to the Federal Communications Commission found that LightSquared’s planned operations could knock out 500 million GPS receivers used by police and firefighters, airlines, construction workers and consumers. “Such a network would cause unacceptable interference to GPS operations,” the United States Global Positioning System Industry Council said. Read full article >>