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Hedge Fund Launches Emergency Rapid Response Team

New York (HedgeCo.net) – Billionaire hedge fund manager Philip Falcone’s new satellite internet venture, LightSquared, is to invest in next generation satellite communications technology directed at public safety, “Push-to-Talk.”

In addition, LightSquared has formed its own Emergency Rapid Response Team that is prepared to travel to troubled areas to assist first responders at the local, tribal, state and federal level with inter-operable satellite communications.

“LightSquared’s satellite network has played a critical role in federal, state and local public safety communications in emergencies dating back to 1996, including Hurricane Katrina and the recent series of devastating tornadoes that swept through Joplin, Missouri.”

“In an emergency, the last thing public safety workers should have to worry about is their ability to communicate with each other. That’s why LightSquared is committed to the SMART program, ensuring that the men and women on the front lines have communication devices that connect them to each other or to a federal agency thousands of miles away,’’ said Sanjiv Ahuja, chairman and chief executive officer of LightSquared.

As part of this plan, LightSquared will:

  • Replace the current LightSquared public safety devices at no cost and continue to support older devices through 2014.
  • Work with the public safety community to design next generation LightSquared devices that meet the rugged standards demanded by public safety workers who work in a wide range of hostile conditions and environments.
  • Continue to support the Satellite Mutual Aid Radio Talkgroup (SMART) program on which public safety agencies nationwide rely to communicate.

 

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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