LightSquared CEO's close ties to Obama White House

From the Daily Caller:

LightSquared CEO Sanjiv Ahuja abruptly announced his resignation Tuesday amid revelations of his company’s political proximity — and his own closeness — to the White House and Obama administration officials.

The Daily Caller first reported one week ago on emails and documents that indicate political ties and numerous meetings between LightSquared and Obama administration officials as the company was undergoing regulatory review.

Ahuja’s resignation comes after Obama’s FCC suspended conditional approval of a waiver LightSquared needed to complete its high-speed broadband network. Until two weeks ago, the company’s final approval appeared imminent. . . .

Ahuja will remain LightSquared’s chairman.

Philip Falcone, the CEO of Harbinger Capital Partners — which created LightSquared from its predecessor, SkyTerra — was appointed to the LightSquared board on Tuesday as well. The Obama administration FCC approved Harbinger’s purchase of SkyTerra after what appeared to be a series of favorable regulatory decisions amid White House visits.

In the press release, Falcone said he remains confident in LightSquared’s future despite these new revelations and the company’s reported challenges related to GPS interference issues. . . .