Philip Falcone seems to be Fighting Back. Seems to me that Senator Grassley flat out lied about the events and issues surrounding Lightsquared. Read the Philip Falcone Lightsquared Letter from legal council regarding Senator Charles E. Grassley's accusation, which seem to be false, fabricated and completely biased to protect his buddies at John Deere, Verizon, ATT, Clearwire, and Lockhead Martin.
Philip Falcone Regarding Senator Charles Grassley Lies
Max Baucus, Senator Charles Grassley, Deere and Company, Trimble Navigations, James Kirkland, Verizon, Craig McCaw, Harbinger Capital, Philip Falcone, Grassley vs. Lightsquared, Lightsquared, Todd Ruelle,
Showing posts with label Philip Falcone. Show all posts
Showing posts with label Philip Falcone. Show all posts
Friday, February 3, 2012
Wednesday, December 28, 2011
iViewit Technology Theft - Curtis Lu Time Warner Inc. General Counsel LEAVES without Disclosing Massive Liability to Time Warner Board and Shareholders
Before Curtis Lu Left Time Warner, Curtis Lu Called Iviewit Founder Eliot Bernstein. How Much Risk Does Harbinger Capital Partners Investors Now Have ?
LightSquared now has Massive Liability in Curtis Lu as their General Counsel.
The Investors of Harbinger Capital Partners Will Pay the Price.
Do your Homework - it's YOUR Money ~ It's Your Life.
Curtis Lu Time Warner (NYSE: TWX) Contacts Eliot Bernstein April 15, 2010, after OVER a Decade in which Time Warner NEW of the Iviewit Technologies Massive Liability to the Time Warner Inc. and Related Companies.
Time Warner used this Technology and Continues
to VIOLATE Signed Agreements to This Day.
Time Warner has Violated Licensing Agreements with Iviewit Tech., and Violated NBA agreements. Curtis Lu - Time Warner IGNORES Massive Shareholder FRAUD then Conveniently Leaves Time Warner for the Harbinger Capital Partners - Philip Falcone investment of LightSquared.
Marc Garber of Flaster Greenberg and Eliot Bernstein of Iviewit Technologies Speaks with Curtis Lu of Time Warner Inc. About the RISK and Liability that Time Warner Faces over the Massive Fraud of the Stolen Iviewit Technology.
Curtis LU admitted he was familiar with the situation, and KNOWS all the Details and Liabilites and FAILED to Warn the Time Warner Board, Time Warner Shareholders.
"April 15, 2010 call prior to filing formal SEC Complaint and giving Time Warner a last chance to pay the true and proper inventor of Digital Imaging and Video Scaling Inventions and avoid further actions. "
After all is Said and Done, Curtis Lu Time Warner Inc. General Counsel - Now the General Counsel at Harbinger Capital Partners - Lightsquared.. well at the end Curtis Lu says he is Going to Go Back to His "Client" and Get THEIR "Reaction"
Well you Sure Gotta wonder what the Clients Reaction Was - I Mean that Next Month Curtis Lu went to some Convention where he talked about future issues and potential problems with Intellectual Property Rights - what a Joke that was.. and a few months later Curtis Lu, Time Warner Inc. Leaves Time Warner to be the General Counsel of Harbinger Capital Partners - Philip Falcone Multi-Billion Dollar Investment of a Company Called "Lightsquared" - which seems to think they will take over as the Leading Wireless, Internet Company in a couple of short years.
Ok so did Jeffrey Bewkes FIRE Curtis Lu, Time Warner Inc. - or Did They Cut a Deal where Curtis Lu would Leave with benefits and a good record? Did Jeff Bewkes WARN the Board of Directors at Time Warner Inc. or the Shareholders of Time Warner Inc. ?
WHO Did "Curtis Lu" - General Council of Time Warner actual "Get Back To?" and what did THEY really say to Curtis Lu, Time Warner Inc. General Counsel.
Curtis Lu is Involved in the SEC Complaint and Suit and will CERTAINLY call Eliot.. well Curtis Lu never did get back to Eliot. So What REALLY Happened?
Eliot Gave Time Warner, Curtis Lu Very Good Options and Well Curtis Lu was either FIRED or Simply Left Time Warner Inc. Right After This. Why? What is the REAL truth of Curtis Lu Leaving Time Warner for Philip Falcone - Harbinger Capital Partners, Star Investment LightSquared?
How Much Risk Does Harbinger Capital Partners Investors Now Have ?
Why is the NEW Time Warner General Counsel Paul T. Cappuccio IGNORING this Massive Shareholder Fraud and Failing to Disclose this Multi-Trillion Dollar Liability?
Well this is Massive Fraud and it is Easily PROVEN though Mary L. Schapiro the Chairman of the U.S. Securities and Exchange Commission seems to so far Ignore over 1200 documents and 10 years of proof, it is still proven and the Shareholders of Time Warner Inc., AOL, Warner Bros., Sony, Intel Corp., Lockheed Martin, IBM, and Many more will pay Trillions.. oh WEll Right .. Jeffrey Bewkes and Mary Schapiro and all the Others at the Top will not pay,odds are they have already hid their assets, I mean they have known this was coming for a VERY long time and STILL they sit on it. .the MOTIVE?
TO make sure they get THEIRS before the Investors / Shareholders take the inevitable financial hit that they will indeed take. .
So what did Jeffrey Bewkes, Chairman and Chief Executive Officer really have to say about the now famed call from Time Warner Inc. - General Counsel Curtis Lu to Eliot Bernstein Iviewit Founder and One of the Inventors of the Mult-Trillion Dollar Iviewit Technology that Time Warner has made Billions on Top of Billions on and all the while knowing they had STOLEN the Technology and Violated SIGNED agreements with Iviewit. Where is Jeffrey Bewkes, Chairman and Chief Executive Officer on this?
"Jeff Bewkes is Chairman and CEO of Time Warner Inc. He was elected Chairman of the Board of Directors in January 2009, having served on the Board since January 2007. He was elected CEO of the Company in January 2008. "
Jeff Bewkes KNOWS of Massive Fraud and Neglects to TELL the Time Warner Board. Jeff Bewkes is GUILTY of Massive Shareholder Fraud and WILL BE indicted. This is Criminal, this is Immoral and Folks.. there is over 1200 Documents of Proof on top of other massive information. This is Fact, Jeff Bewkes Time Warner KNOWS it and DOES nothing to Warner you THE board, the investors of Time Warner Inc. - Why?
Part 1 - Curtis Lu for Time Warner Inc.
Part 2 Curtis Lu - Time Warner General Counsel
Part 3 - Curtis Lu - Time Warner General Council FAILS
to Disclose Massive Shareholder Liability.
So Curtis Lu, Ask Yourself, How Much "Risk" - Liability did you Bring to Philip Falcone and to LightSquared which is raking in billions of investors money to be the NEW "internet network" that takes over all others.
Yet Curtis Lu is their General Council and is named in a Federal RICO Lawsuit and an SEC Complaint and KNOWS of a Mult-Trillion Dollar Shareholder Fraud involving his Former Employer Time Warner Inc. - Well Curtis Lu, Lightsqared General Counsel is Sure in Deep on this.
Time Warner Massive Liability - There is Proof that Time Warner Inc. was Infringing on this Technology, tons of the proof, and Yet Time Warner Inc. DOES not have This Liability Reported on the Books, WHY?
"We Should Have Been Disclosing?" - Curtis Lu asks.. GEE .. umm.. hmm..
"So Uh, are we.. uh is Time Warner a Defendent in all this? "
Time Warner Inc. has a Massive Undisclosed Liability...
So What Does the Time Warner Inc. Board have to Say about all this?
Jeffrey L. Bewkes
Chairman and Chief Executive Officer, Time Warner Inc.
James L. Barksdale
Chairman and President, Barksdale Management Corporation
William P. Barr
Former Attorney General of the United States
Stephen F. Bollenbach
Former Co-Chairman and Chief Executive Officer, Hilton Hotels Corporation
Frank J. Caufield
Co-Founder and Partner, Kleiner Perkins Caufield &; Byers
Robert C. Clark
Distinguished Service Professor, Harvard University
Mathias Döpfner
Chairman, Chief Executive Officer, Axel Springer AG
Jessica P. EinhornDean, Paul H. Nitze School of Advanced International Studies (SAIS), Johns Hopkins University
Fred Hassan
Former Chairman and Chief Executive Officer, Schering-Plough Corporation
Michael A. MilesSpecial Limited Partner, Forstmann Little & Company
Kenneth J. Novack
Senior Counsel, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC
Deborah C. WrightChairman, President and Chief Executive Officer, Carver Bancorp, Inc.
What Do the Senior Corporate Executives at Time Warner Have to Say?
Jeffrey L. BewkesChairman and Chief Executive Officer
Paul T. CappuccioExecutive Vice President and General Counsel
Patricia Fili-KrushelExecutive Vice President, Administration
Gary L. GinsbergExecutive Vice President, Corporate Marketing and Communications
John K. Martin
Executive Vice President and Chief Financial Officer
Carol A. Melton
Executive Vice President, Global Public Policy
Olaf Olafsson
Executive Vice President
Connected Time Warner Inc. Companies
Global Media Group, HBO - Home Box Office, Warner Bros. Entertainment,Time Inc., Turner Broadcasting System, AOL - ALL Liable for this Multi-Trillion Dollar Stolen Technology.
More Links to the Iviewit Stolen Technology Story
http://www.iViewit.tv/
http://www.DeniedPatent.com/
http://www.JeffreyBewkes.com/
LightSquared now has Massive Liability in Curtis Lu as their General Counsel.
The Investors of Harbinger Capital Partners Will Pay the Price.
Do your Homework - it's YOUR Money ~ It's Your Life.
Curtis Lu Time Warner (NYSE: TWX) Contacts Eliot Bernstein April 15, 2010, after OVER a Decade in which Time Warner NEW of the Iviewit Technologies Massive Liability to the Time Warner Inc. and Related Companies.
Time Warner used this Technology and Continues
to VIOLATE Signed Agreements to This Day.
Time Warner has Violated Licensing Agreements with Iviewit Tech., and Violated NBA agreements. Curtis Lu - Time Warner IGNORES Massive Shareholder FRAUD then Conveniently Leaves Time Warner for the Harbinger Capital Partners - Philip Falcone investment of LightSquared.
Marc Garber of Flaster Greenberg and Eliot Bernstein of Iviewit Technologies Speaks with Curtis Lu of Time Warner Inc. About the RISK and Liability that Time Warner Faces over the Massive Fraud of the Stolen Iviewit Technology.
Curtis LU admitted he was familiar with the situation, and KNOWS all the Details and Liabilites and FAILED to Warn the Time Warner Board, Time Warner Shareholders.
"April 15, 2010 call prior to filing formal SEC Complaint and giving Time Warner a last chance to pay the true and proper inventor of Digital Imaging and Video Scaling Inventions and avoid further actions. "
After all is Said and Done, Curtis Lu Time Warner Inc. General Counsel - Now the General Counsel at Harbinger Capital Partners - Lightsquared.. well at the end Curtis Lu says he is Going to Go Back to His "Client" and Get THEIR "Reaction"
Well you Sure Gotta wonder what the Clients Reaction Was - I Mean that Next Month Curtis Lu went to some Convention where he talked about future issues and potential problems with Intellectual Property Rights - what a Joke that was.. and a few months later Curtis Lu, Time Warner Inc. Leaves Time Warner to be the General Counsel of Harbinger Capital Partners - Philip Falcone Multi-Billion Dollar Investment of a Company Called "Lightsquared" - which seems to think they will take over as the Leading Wireless, Internet Company in a couple of short years.
Ok so did Jeffrey Bewkes FIRE Curtis Lu, Time Warner Inc. - or Did They Cut a Deal where Curtis Lu would Leave with benefits and a good record? Did Jeff Bewkes WARN the Board of Directors at Time Warner Inc. or the Shareholders of Time Warner Inc. ?
WHO Did "Curtis Lu" - General Council of Time Warner actual "Get Back To?" and what did THEY really say to Curtis Lu, Time Warner Inc. General Counsel.
Curtis Lu is Involved in the SEC Complaint and Suit and will CERTAINLY call Eliot.. well Curtis Lu never did get back to Eliot. So What REALLY Happened?
Eliot Gave Time Warner, Curtis Lu Very Good Options and Well Curtis Lu was either FIRED or Simply Left Time Warner Inc. Right After This. Why? What is the REAL truth of Curtis Lu Leaving Time Warner for Philip Falcone - Harbinger Capital Partners, Star Investment LightSquared?
How Much Risk Does Harbinger Capital Partners Investors Now Have ?
Why is the NEW Time Warner General Counsel Paul T. Cappuccio IGNORING this Massive Shareholder Fraud and Failing to Disclose this Multi-Trillion Dollar Liability?
Well this is Massive Fraud and it is Easily PROVEN though Mary L. Schapiro the Chairman of the U.S. Securities and Exchange Commission seems to so far Ignore over 1200 documents and 10 years of proof, it is still proven and the Shareholders of Time Warner Inc., AOL, Warner Bros., Sony, Intel Corp., Lockheed Martin, IBM, and Many more will pay Trillions.. oh WEll Right .. Jeffrey Bewkes and Mary Schapiro and all the Others at the Top will not pay,odds are they have already hid their assets, I mean they have known this was coming for a VERY long time and STILL they sit on it. .the MOTIVE?
TO make sure they get THEIRS before the Investors / Shareholders take the inevitable financial hit that they will indeed take. .
So what did Jeffrey Bewkes, Chairman and Chief Executive Officer really have to say about the now famed call from Time Warner Inc. - General Counsel Curtis Lu to Eliot Bernstein Iviewit Founder and One of the Inventors of the Mult-Trillion Dollar Iviewit Technology that Time Warner has made Billions on Top of Billions on and all the while knowing they had STOLEN the Technology and Violated SIGNED agreements with Iviewit. Where is Jeffrey Bewkes, Chairman and Chief Executive Officer on this?
"Jeff Bewkes is Chairman and CEO of Time Warner Inc. He was elected Chairman of the Board of Directors in January 2009, having served on the Board since January 2007. He was elected CEO of the Company in January 2008. "
Jeff Bewkes KNOWS of Massive Fraud and Neglects to TELL the Time Warner Board. Jeff Bewkes is GUILTY of Massive Shareholder Fraud and WILL BE indicted. This is Criminal, this is Immoral and Folks.. there is over 1200 Documents of Proof on top of other massive information. This is Fact, Jeff Bewkes Time Warner KNOWS it and DOES nothing to Warner you THE board, the investors of Time Warner Inc. - Why?
Part 1 - Curtis Lu for Time Warner Inc.
Part 2 Curtis Lu - Time Warner General Counsel
Part 3 - Curtis Lu - Time Warner General Council FAILS
to Disclose Massive Shareholder Liability.
So Curtis Lu, Ask Yourself, How Much "Risk" - Liability did you Bring to Philip Falcone and to LightSquared which is raking in billions of investors money to be the NEW "internet network" that takes over all others.
Yet Curtis Lu is their General Council and is named in a Federal RICO Lawsuit and an SEC Complaint and KNOWS of a Mult-Trillion Dollar Shareholder Fraud involving his Former Employer Time Warner Inc. - Well Curtis Lu, Lightsqared General Counsel is Sure in Deep on this.
Time Warner Massive Liability - There is Proof that Time Warner Inc. was Infringing on this Technology, tons of the proof, and Yet Time Warner Inc. DOES not have This Liability Reported on the Books, WHY?
"We Should Have Been Disclosing?" - Curtis Lu asks.. GEE .. umm.. hmm..
"So Uh, are we.. uh is Time Warner a Defendent in all this? "
Time Warner Inc. has a Massive Undisclosed Liability...
So What Does the Time Warner Inc. Board have to Say about all this?
Jeffrey L. Bewkes
Chairman and Chief Executive Officer, Time Warner Inc.
James L. Barksdale
Chairman and President, Barksdale Management Corporation
William P. Barr
Former Attorney General of the United States
Stephen F. Bollenbach
Former Co-Chairman and Chief Executive Officer, Hilton Hotels Corporation
Frank J. Caufield
Co-Founder and Partner, Kleiner Perkins Caufield &; Byers
Robert C. Clark
Distinguished Service Professor, Harvard University
Mathias Döpfner
Chairman, Chief Executive Officer, Axel Springer AG
Jessica P. EinhornDean, Paul H. Nitze School of Advanced International Studies (SAIS), Johns Hopkins University
Fred Hassan
Former Chairman and Chief Executive Officer, Schering-Plough Corporation
Michael A. MilesSpecial Limited Partner, Forstmann Little & Company
Kenneth J. Novack
Senior Counsel, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC
Deborah C. WrightChairman, President and Chief Executive Officer, Carver Bancorp, Inc.
What Do the Senior Corporate Executives at Time Warner Have to Say?
Jeffrey L. BewkesChairman and Chief Executive Officer
Paul T. CappuccioExecutive Vice President and General Counsel
Patricia Fili-KrushelExecutive Vice President, Administration
Gary L. GinsbergExecutive Vice President, Corporate Marketing and Communications
John K. Martin
Executive Vice President and Chief Financial Officer
Carol A. Melton
Executive Vice President, Global Public Policy
Olaf Olafsson
Executive Vice President
Connected Time Warner Inc. Companies
Global Media Group, HBO - Home Box Office, Warner Bros. Entertainment,Time Inc., Turner Broadcasting System, AOL - ALL Liable for this Multi-Trillion Dollar Stolen Technology.
More Links to the Iviewit Stolen Technology Story
http://www.iViewit.tv/
http://www.DeniedPatent.com/
http://www.JeffreyBewkes.com/
Thursday, August 4, 2011
ATT Pressuring Local Elected Officials and Local Fire Chief to Pull Support from LightSquared ? Lightsquared, Philip Falcone, Harbinger Capital Partners
Phil Falcone - CNBC Interview - Philip Falcone - Harbinger Capital Partners - Lightsquared - ATT Lobbyist head of GPS Council ?
Source of Video of Philip Falcone, Lightsquared on ATT, Verizon, GPS Issues - Lightsquared - Harbinger Capital Partners.
Tuesday, July 12, 2011
Harbinger Group Inc., Omar Asali, Philip Falcone, Harbinger Capital Partners - Omar Asali announced as Harbinger Group Inc. President. Harbinger Capital Partners
Harbinger Group Inc. (“HGI” or the “Company”; NYSE: HRG) announced that Omar Asali has been appointed acting President of Harbinger Group Inc. (, and is expected to be appointed President subject to approval by the Board of Directors of Harbinger Group Inc. (.
Omar Asali, Harbinger Group Inc. has served as a Director of the Harbinger Group Inc. since May 2011. Omar Asali, Harbinger Group Inc. is also a Managing Director and Head of Global Strategy for Harbinger Capital Partners and Omar Asali, Harbinger Group Inc. is responsible for its global portfolio and business strategy of Harbinger Group Inc.
Philip Falcone, who was President of Harbinger Group Inc., will continue to serve as the Chairman of the Board and Chief Executive Officer of Harbinger Group Inc.
Philip Falcone, Harbinger Group Inc. said “Omar’s appointment significantly strengthens the management team for building HGI, and I look forward to working with him to take the Company forward,” - Philip Falcone, Chief Executive Officer and Chief Investment Officer. Harbinger Group Inc. - Harbinger Capital Partners
Philip Falcone, Harbinger Group Inc. Said, "I have known Omar Asali for almost 10 years and have complete confidence in Omar Asali's management skills and Omar Asali 's ability to lead and build organizations. I believe his business and financial acumen will contribute significantly to our future growth and value-creation potential.”
Prior to joining Harbinger Capital Partners in 2009, Omar Asali, Harbinger Group Inc. - Harbinger Capital Partners was co-head of Goldman Sachs Hedge Fund Strategies (“HFS”), where Omar Asali, Harbinger Group Inc. - Harbinger Capital Partners helped to manage capital allocated to external managers.
Omar Asali, Harbinger Group Inc. also served as co-chair of the Investment Committee at HFS. Before joining HFS in 2003,Omar Asali, Harbinger Group Inc. - Harbinger Capital Partners worked in Goldman Sachs’ Investment Banking Division, where Omar Asali, Harbinger Group Inc. - Harbinger Capital Partners provided merger and acquisition and strategic advisory services. Omar Asali, Harbinger Group Inc. - Harbinger Capital Partners began his career in public accounting as a C.P.A.
Omar Asali, Harbinger Group Inc. - Harbinger Capital Partners received an M.B.A. from Columbia Business School and a B.S. in Accounting from Virginia Tech.
About Harbinger Group Inc.
Harbinger Group Inc. is a diversified holding company. Harbinger Group Inc.’s principal operations are conducted through subsidiaries that offer life insurance and annuity products, and branded consumer products such as batteries, pet supplies, home and garden control products, personal care and small appliances.
Harbinger Group Inc. focuses on opportunities in these sectors as well as financial products, telecommunications, agriculture, power generation and water and natural resources.
Harbinger Group Inc.makes certain reports available free of charge the Harbinger Group Inc. website at www.harbingergroupinc.com as soon as reasonably practicable.
Wednesday, November 24, 2010
Philip Falcone - Harbinger Capital Partners Fund - Harbinger Group - Spectrum Brands
"Philip Falcone Finds a New Way to Raise Money Harbinger's chief, facing investor redemptions, will use a shell company to pay for acquisitions
Philip Falcone, the hedge fund manager who made a fortune betting against subprime mortgages in 2007, has hit a tough patch. His flagship Harbinger Capital Partners Fund and another fund under his control have faced redemption calls from major investors anxious about the funds' investments in a wireless satellite network.
Harbinger Capital is also at the center of an investigation by the Securities and Exchange Commission and the Manhattan U.S. Attorney's office over a $113 million loan it gave to Harbinger Capital Partners founder and Chief Executive Officer Falcone to cover a tax bill, according to two people with knowledge of the probe. Falcone, who declined an interview request, said in an e-mail that the loan "was documented and audited by outside accountants and legal advisers."
Despite his troubles, the hedge fund manager has found a way to raise funds in a difficult environment. Falcone, 48, is selling stock and bonds through Harbinger Group (HRG), a publicly traded shell company.
On Nov. 15, Harbinger Group raised $350 million by selling five-year debt yielding 11 percent. Falcone plans to use the new capital to buy controlling stakes in industries from agriculture to telecommunications, according to a Nov. 1 filing by Harbinger with the SEC.
To back the bonds, Harbinger hedge funds plan to give Harbinger Group most of their majority stake in Spectrum Brands (SPB), a publicly traded company whose products include Rayovac batteries and George Foreman grills, in exchange for additional Harbinger Group Stock.
Most hedge funds raise money from institutional investors, such as pension funds, that can withdraw their money under certain circumstances. Owning a publicly traded company allows Falcone to pay for acquisitions by issuing stock. "Our corporate structure provides significant advantages compared to the traditional hedge fund structure for long-term holdings," Harbinger Group said in the Nov. 1 SEC filing.
Redemption calls are a worry now at Harbinger. Goldman Sachs (GS) plans to pull its entire $120 million investment from Harbinger Capital Partners following a 15 percent decline this year through mid-October and the disclosure about the personal loan to Falcone, according to people briefed on Goldman's plans.
Other investors such as Advantage Advisers Management, a subsidiary of Oppenheimer Asset Management, have also indicated they want out, according to regulatory filings. Falcone's New York-based firm's overall assets have declined to about $9 billion, as of September, from $26 billion in mid-2008.
Falcone has angered some clients by investing about 90 percent of his flagship Harbinger Capital Partners Fund and more than half his Special Situations Fund in wireless-telecommunications investments, as of September. He is trying to build a multibillion-dollar satellite wireless network that would take on entrenched players such as AT&T (T) and Verizon Communications (VZ) through a company he created called LightSquared.
Falcone is liquidating about 80 percent of the $2 billion Special Situations Fund at the request of clients, investors say. He's been trying since June to raise $1 billion to $1.5 billion for LightSquared from investors who would be willing to commit capital for several years, according to potential investors who have seen marketing documents.
In theory, Falcone could use shares of Harbinger Group, which is listed on the New York Stock Exchange (NYX), to meet redemptions in his hedge funds, says David Guin, head of the U.S. securities practice at law firm Withers Bergman in New York.
Harbinger spokesman Jeffrey Zelkowitz says the proceeds of the bond sale won't be used to cover redemptions or finance investments in LightSquared. "Rather, HGI is a permanent capital vehicle to house longer-term controlling equity stakes in companies that operate across a diversified set of industries."
Falcone created Harbinger Group last year, when three of Harbinger's hedge funds paid $74 million to acquire a 51.6 percent stake in Zapata, an oil driller with cash and no operating businesses that was co-founded by President George H.W. Bush.
Falcone reincorporated Zapata as Harbinger Group in December and later moved its headquarters to Manhattan from Rochester, N.Y. Having Harbinger Group gives Falcone a degree of freedom he doesn't have now, says Daniel Celeghin, a partner at Casey, Quirk & Associates, a Darien (Conn.)-based consultant to investment advisory firms: "Here is a pool of money you can manage indefinitely, and you don't have to worry about redemptions."
The bottom line: While dealing with investor redemptions, Falcone is raising capital through a public company he took over. "
Source of Post
http://www.businessweek.com/magazine/content/10_49/b4206051251677.htm
Philip Falcone, the hedge fund manager who made a fortune betting against subprime mortgages in 2007, has hit a tough patch. His flagship Harbinger Capital Partners Fund and another fund under his control have faced redemption calls from major investors anxious about the funds' investments in a wireless satellite network.
Harbinger Capital is also at the center of an investigation by the Securities and Exchange Commission and the Manhattan U.S. Attorney's office over a $113 million loan it gave to Harbinger Capital Partners founder and Chief Executive Officer Falcone to cover a tax bill, according to two people with knowledge of the probe. Falcone, who declined an interview request, said in an e-mail that the loan "was documented and audited by outside accountants and legal advisers."
Despite his troubles, the hedge fund manager has found a way to raise funds in a difficult environment. Falcone, 48, is selling stock and bonds through Harbinger Group (HRG), a publicly traded shell company.
On Nov. 15, Harbinger Group raised $350 million by selling five-year debt yielding 11 percent. Falcone plans to use the new capital to buy controlling stakes in industries from agriculture to telecommunications, according to a Nov. 1 filing by Harbinger with the SEC.
To back the bonds, Harbinger hedge funds plan to give Harbinger Group most of their majority stake in Spectrum Brands (SPB), a publicly traded company whose products include Rayovac batteries and George Foreman grills, in exchange for additional Harbinger Group Stock.
Most hedge funds raise money from institutional investors, such as pension funds, that can withdraw their money under certain circumstances. Owning a publicly traded company allows Falcone to pay for acquisitions by issuing stock. "Our corporate structure provides significant advantages compared to the traditional hedge fund structure for long-term holdings," Harbinger Group said in the Nov. 1 SEC filing.
Redemption calls are a worry now at Harbinger. Goldman Sachs (GS) plans to pull its entire $120 million investment from Harbinger Capital Partners following a 15 percent decline this year through mid-October and the disclosure about the personal loan to Falcone, according to people briefed on Goldman's plans.
Other investors such as Advantage Advisers Management, a subsidiary of Oppenheimer Asset Management, have also indicated they want out, according to regulatory filings. Falcone's New York-based firm's overall assets have declined to about $9 billion, as of September, from $26 billion in mid-2008.
Falcone has angered some clients by investing about 90 percent of his flagship Harbinger Capital Partners Fund and more than half his Special Situations Fund in wireless-telecommunications investments, as of September. He is trying to build a multibillion-dollar satellite wireless network that would take on entrenched players such as AT&T (T) and Verizon Communications (VZ) through a company he created called LightSquared.
Falcone is liquidating about 80 percent of the $2 billion Special Situations Fund at the request of clients, investors say. He's been trying since June to raise $1 billion to $1.5 billion for LightSquared from investors who would be willing to commit capital for several years, according to potential investors who have seen marketing documents.
In theory, Falcone could use shares of Harbinger Group, which is listed on the New York Stock Exchange (NYX), to meet redemptions in his hedge funds, says David Guin, head of the U.S. securities practice at law firm Withers Bergman in New York.
Harbinger spokesman Jeffrey Zelkowitz says the proceeds of the bond sale won't be used to cover redemptions or finance investments in LightSquared. "Rather, HGI is a permanent capital vehicle to house longer-term controlling equity stakes in companies that operate across a diversified set of industries."
Falcone created Harbinger Group last year, when three of Harbinger's hedge funds paid $74 million to acquire a 51.6 percent stake in Zapata, an oil driller with cash and no operating businesses that was co-founded by President George H.W. Bush.
Falcone reincorporated Zapata as Harbinger Group in December and later moved its headquarters to Manhattan from Rochester, N.Y. Having Harbinger Group gives Falcone a degree of freedom he doesn't have now, says Daniel Celeghin, a partner at Casey, Quirk & Associates, a Darien (Conn.)-based consultant to investment advisory firms: "Here is a pool of money you can manage indefinitely, and you don't have to worry about redemptions."
The bottom line: While dealing with investor redemptions, Falcone is raising capital through a public company he took over. "
Source of Post
http://www.businessweek.com/magazine/content/10_49/b4206051251677.htm
Saturday, October 2, 2010
Curtis Lu Time Warner Inc. General Counsel LEAVES without Disclosing Massive Liability to Time Warner Board and Shareholders
Before Curtis Lu Left Time Warner, Curtis Lu Called Iviewit Founder Eliot Bernstein. How Much Risk Does Harbinger Capital Partners Investors Now Have ?
LightSquared now has Massive Liability in Curtis Lu as their General Counsel.
The Investors of Harbinger Capital Partners Will Pay the Price.
Do your Homework - it's YOUR Money ~ It's Your Life.
Curtis Lu Time Warner (NYSE: TWX) Contacts Eliot Bernstein April 15, 2010, after OVER a Decade in which Time Warner NEW of the Iviewit Technologies Massive Liability to the Time Warner Inc. and Related Companies.
Time Warner used this Technology and Continues
to VIOLATE Signed Agreements to This Day.
Time Warner has Violated Licensing Agreements with Iviewit Tech., and Violated NBA agreements. Curtis Lu - Time Warner IGNORES Massive Shareholder FRAUD then Conveniently Leaves Time Warner for the Harbinger Capital Partners - Philip Falcone investment of LightSquared.
Marc Garber of Flaster Greenberg and Eliot Bernstein of Iviewit Technologies Speaks with Curtis Lu of Time Warner Inc. About the RISK and Liability that Time Warner Faces over the Massive Fraud of the Stolen Iviewit Technology.
Curtis LU admitted he was familiar with the situation, and KNOWS all the Details and Liabilites and FAILED to Warn the Time Warner Board, Time Warner Shareholders.
"April 15, 2010 call prior to filing formal SEC Complaint and giving Time Warner a last chance to pay the true and proper inventor of Digital Imaging and Video Scaling Inventions and avoid further actions. "
After all is Said and Done, Curtis Lu Time Warner Inc. General Counsel - Now the General Counsel at Harbinger Capital Partners - Lightsquared.. well at the end Curtis Lu says he is Going to Go Back to His "Client" and Get THEIR "Reaction"
Well you Sure Gotta wonder what the Clients Reaction Was - I Mean that Next Month Curtis Lu went to some Convention where he talked about future issues and potential problems with Intellectual Property Rights - what a Joke that was.. and a few months later Curtis Lu, Time Warner Inc. Leaves Time Warner to be the General Counsel of Harbinger Capital Partners - Philip Falcone Multi-Billion Dollar Investment of a Company Called "Lightsquared" - which seems to think they will take over as the Leading Wireless, Internet Company in a couple of short years.
Ok so did Jeffrey Bewkes FIRE Curtis Lu, Time Warner Inc. - or Did They Cut a Deal where Curtis Lu would Leave with benefits and a good record? Did Jeff Bewkes WARN the Board of Directors at Time Warner Inc. or the Shareholders of Time Warner Inc. ?
WHO Did "Curtis Lu" - General Council of Time Warner actual "Get Back To?" and what did THEY really say to Curtis Lu, Time Warner Inc. General Counsel.
Curtis Lu is Involved in the SEC Complaint and Suit and will CERTAINLY call Eliot.. well Curtis Lu never did get back to Eliot. So What REALLY Happened?
Eliot Gave Time Warner, Curtis Lu Very Good Options and Well Curtis Lu was either FIRED or Simply Left Time Warner Inc. Right After This. Why? What is the REAL truth of Curtis Lu Leaving Time Warner for Philip Falcone - Harbinger Capital Partners, Star Investment LightSquared?
How Much Risk Does Harbinger Capital Partners Investors Now Have ?
Why is the NEW Time Warner General Counsel Paul T. Cappuccio IGNORING this Massive Shareholder Fraud and Failing to Disclose this Multi-Trillion Dollar Liability?
Well this is Massive Fraud and it is Easily PROVEN though Mary L. Schapiro the Chairman of the U.S. Securities and Exchange Commission seems to so far Ignore over 1200 documents and 10 years of proof, it is still proven and the Shareholders of Time Warner Inc., AOL, Warner Bros., Sony, Intel Corp., Lockheed Martin, IBM, and Many more will pay Trillions.. oh WEll Right .. Jeffrey Bewkes and Mary Schapiro and all the Others at the Top will not pay,odds are they have already hid their assets, I mean they have known this was coming for a VERY long time and STILL they sit on it. .the MOTIVE?
TO make sure they get THEIRS before the Investors / Shareholders take the inevitable financial hit that they will indeed take. .
So what did Jeffrey Bewkes, Chairman and Chief Executive Officer really have to say about the now famed call from Time Warner Inc. - General Counsel Curtis Lu to Eliot Bernstein Iviewit Founder and One of the Inventors of the Mult-Trillion Dollar Iviewit Technology that Time Warner has made Billions on Top of Billions on and all the while knowing they had STOLEN the Technology and Violated SIGNED agreements with Iviewit. Where is Jeffrey Bewkes, Chairman and Chief Executive Officer on this?
"Jeff Bewkes is Chairman and CEO of Time Warner Inc. He was elected Chairman of the Board of Directors in January 2009, having served on the Board since January 2007. He was elected CEO of the Company in January 2008. "
Jeff Bewkes KNOWS of Massive Fraud and Neglects to TELL the Time Warner Board. Jeff Bewkes is GUILTY of Massive Shareholder Fraud and WILL BE indicted. This is Criminal, this is Immoral and Folks.. there is over 1200 Documents of Proof on top of other massive information. This is Fact, Jeff Bewkes Time Warner KNOWS it and DOES nothing to Warner you THE board, the investors of Time Warner Inc. - Why?
Part 1 - Curtis Lu for Time Warner Inc.
Part 2 Curtis Lu - Time Warner General Counsel
Part 3 - Curtis Lu - Time Warner General Council FAILS
to Disclose Massive Shareholder Liability.
So Curtis Lu, Ask Yourself, How Much "Risk" - Liability did you Bring to Philip Falcone and to LightSquare which is raking in billions of investors money to be the NEW "internet network" that takes over all others.
Yet Curtis Lu is their General Council and is named in a Federal RICO Lawsuit and an SEC Complaint and KNOWS of a Mult-Trillion Dollar Shareholder Fraud involving his Former Employer Time Warner Inc. - Well Curtis Lu, Lightsqared General Counsel is Sure in Deep on this.
Time Warner Massive Liability - There is Proof that Time Warner Inc. was Infringing on this Technology, tons of the proof, and Yet Time Warner Inc. DOES not have This Liability Reported on the Books, WHY?
"We Should Have Been Disclosing?" - Curtis Lu asks.. GEE .. umm.. hmm..
"So Uh, are we.. uh is Time Warner a Defendent in all this? "
Time Warner Inc. has a Massive Undisclosed Liability...
So What Does the Time Warner Inc. Board have to Say about all this?
Jeffrey L. Bewkes
Chairman and Chief Executive Officer, Time Warner Inc.
James L. Barksdale
Chairman and President, Barksdale Management Corporation
William P. Barr
Former Attorney General of the United States
Stephen F. Bollenbach
Former Co-Chairman and Chief Executive Officer, Hilton Hotels Corporation
Frank J. Caufield
Co-Founder and Partner, Kleiner Perkins Caufield & Byers
Robert C. Clark
Distinguished Service Professor, Harvard University
Mathias Döpfner
Chairman, Chief Executive Officer, Axel Springer AG
Jessica P. Einhorn
Dean, Paul H. Nitze School of Advanced International Studies (SAIS), Johns Hopkins University
Fred Hassan
Former Chairman and Chief Executive Officer, Schering-Plough Corporation
Michael A. Miles
Special Limited Partner, Forstmann Little & Company
Kenneth J. Novack
Senior Counsel, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC
Deborah C. Wright
Chairman, President and Chief Executive Officer, Carver Bancorp, Inc.
What Do the Senior Corporate Executives at Time Warner Have to Say?
Jeffrey L. Bewkes
Chairman and Chief Executive Officer
Paul T. Cappuccio
Executive Vice President and General Counsel
Patricia Fili-Krushel
Executive Vice President, Administration
Gary L. Ginsberg
Executive Vice President, Corporate Marketing and Communications
John K. Martin
Executive Vice President and Chief Financial Officer
Carol A. Melton
Executive Vice President, Global Public Policy
Olaf Olafsson
Executive Vice President
Connected Time Warner Inc. Companies
Global Media Group, HBO - Home Box Office, Warner Bros. Entertainment,Time Inc., Turner Broadcasting System, AOL - ALL Liable for this Multi-Trillion Dollar Stolen Technology.
More Links to the Iviewit Stolen Technology Story
http://www.iViewit.tv/
http://www.DeniedPatent.com/
http://www.JeffreyBewkes.com/
http://www.ceopaulotellini.com/
http://www.brucesewell.com/
LightSquared now has Massive Liability in Curtis Lu as their General Counsel.
The Investors of Harbinger Capital Partners Will Pay the Price.
Do your Homework - it's YOUR Money ~ It's Your Life.
Curtis Lu Time Warner (NYSE: TWX) Contacts Eliot Bernstein April 15, 2010, after OVER a Decade in which Time Warner NEW of the Iviewit Technologies Massive Liability to the Time Warner Inc. and Related Companies.
Time Warner used this Technology and Continues
to VIOLATE Signed Agreements to This Day.
Time Warner has Violated Licensing Agreements with Iviewit Tech., and Violated NBA agreements. Curtis Lu - Time Warner IGNORES Massive Shareholder FRAUD then Conveniently Leaves Time Warner for the Harbinger Capital Partners - Philip Falcone investment of LightSquared.
Marc Garber of Flaster Greenberg and Eliot Bernstein of Iviewit Technologies Speaks with Curtis Lu of Time Warner Inc. About the RISK and Liability that Time Warner Faces over the Massive Fraud of the Stolen Iviewit Technology.
Curtis LU admitted he was familiar with the situation, and KNOWS all the Details and Liabilites and FAILED to Warn the Time Warner Board, Time Warner Shareholders.
"April 15, 2010 call prior to filing formal SEC Complaint and giving Time Warner a last chance to pay the true and proper inventor of Digital Imaging and Video Scaling Inventions and avoid further actions. "
After all is Said and Done, Curtis Lu Time Warner Inc. General Counsel - Now the General Counsel at Harbinger Capital Partners - Lightsquared.. well at the end Curtis Lu says he is Going to Go Back to His "Client" and Get THEIR "Reaction"
Well you Sure Gotta wonder what the Clients Reaction Was - I Mean that Next Month Curtis Lu went to some Convention where he talked about future issues and potential problems with Intellectual Property Rights - what a Joke that was.. and a few months later Curtis Lu, Time Warner Inc. Leaves Time Warner to be the General Counsel of Harbinger Capital Partners - Philip Falcone Multi-Billion Dollar Investment of a Company Called "Lightsquared" - which seems to think they will take over as the Leading Wireless, Internet Company in a couple of short years.
Ok so did Jeffrey Bewkes FIRE Curtis Lu, Time Warner Inc. - or Did They Cut a Deal where Curtis Lu would Leave with benefits and a good record? Did Jeff Bewkes WARN the Board of Directors at Time Warner Inc. or the Shareholders of Time Warner Inc. ?
WHO Did "Curtis Lu" - General Council of Time Warner actual "Get Back To?" and what did THEY really say to Curtis Lu, Time Warner Inc. General Counsel.
Curtis Lu is Involved in the SEC Complaint and Suit and will CERTAINLY call Eliot.. well Curtis Lu never did get back to Eliot. So What REALLY Happened?
Eliot Gave Time Warner, Curtis Lu Very Good Options and Well Curtis Lu was either FIRED or Simply Left Time Warner Inc. Right After This. Why? What is the REAL truth of Curtis Lu Leaving Time Warner for Philip Falcone - Harbinger Capital Partners, Star Investment LightSquared?
How Much Risk Does Harbinger Capital Partners Investors Now Have ?
Why is the NEW Time Warner General Counsel Paul T. Cappuccio IGNORING this Massive Shareholder Fraud and Failing to Disclose this Multi-Trillion Dollar Liability?
Well this is Massive Fraud and it is Easily PROVEN though Mary L. Schapiro the Chairman of the U.S. Securities and Exchange Commission seems to so far Ignore over 1200 documents and 10 years of proof, it is still proven and the Shareholders of Time Warner Inc., AOL, Warner Bros., Sony, Intel Corp., Lockheed Martin, IBM, and Many more will pay Trillions.. oh WEll Right .. Jeffrey Bewkes and Mary Schapiro and all the Others at the Top will not pay,odds are they have already hid their assets, I mean they have known this was coming for a VERY long time and STILL they sit on it. .the MOTIVE?
TO make sure they get THEIRS before the Investors / Shareholders take the inevitable financial hit that they will indeed take. .
So what did Jeffrey Bewkes, Chairman and Chief Executive Officer really have to say about the now famed call from Time Warner Inc. - General Counsel Curtis Lu to Eliot Bernstein Iviewit Founder and One of the Inventors of the Mult-Trillion Dollar Iviewit Technology that Time Warner has made Billions on Top of Billions on and all the while knowing they had STOLEN the Technology and Violated SIGNED agreements with Iviewit. Where is Jeffrey Bewkes, Chairman and Chief Executive Officer on this?
"Jeff Bewkes is Chairman and CEO of Time Warner Inc. He was elected Chairman of the Board of Directors in January 2009, having served on the Board since January 2007. He was elected CEO of the Company in January 2008. "
Jeff Bewkes KNOWS of Massive Fraud and Neglects to TELL the Time Warner Board. Jeff Bewkes is GUILTY of Massive Shareholder Fraud and WILL BE indicted. This is Criminal, this is Immoral and Folks.. there is over 1200 Documents of Proof on top of other massive information. This is Fact, Jeff Bewkes Time Warner KNOWS it and DOES nothing to Warner you THE board, the investors of Time Warner Inc. - Why?
Part 1 - Curtis Lu for Time Warner Inc.
Part 2 Curtis Lu - Time Warner General Counsel
Part 3 - Curtis Lu - Time Warner General Council FAILS
to Disclose Massive Shareholder Liability.
So Curtis Lu, Ask Yourself, How Much "Risk" - Liability did you Bring to Philip Falcone and to LightSquare which is raking in billions of investors money to be the NEW "internet network" that takes over all others.
Yet Curtis Lu is their General Council and is named in a Federal RICO Lawsuit and an SEC Complaint and KNOWS of a Mult-Trillion Dollar Shareholder Fraud involving his Former Employer Time Warner Inc. - Well Curtis Lu, Lightsqared General Counsel is Sure in Deep on this.
Time Warner Massive Liability - There is Proof that Time Warner Inc. was Infringing on this Technology, tons of the proof, and Yet Time Warner Inc. DOES not have This Liability Reported on the Books, WHY?
"We Should Have Been Disclosing?" - Curtis Lu asks.. GEE .. umm.. hmm..
"So Uh, are we.. uh is Time Warner a Defendent in all this? "
Time Warner Inc. has a Massive Undisclosed Liability...
So What Does the Time Warner Inc. Board have to Say about all this?
Jeffrey L. Bewkes
Chairman and Chief Executive Officer, Time Warner Inc.
James L. Barksdale
Chairman and President, Barksdale Management Corporation
William P. Barr
Former Attorney General of the United States
Stephen F. Bollenbach
Former Co-Chairman and Chief Executive Officer, Hilton Hotels Corporation
Frank J. Caufield
Co-Founder and Partner, Kleiner Perkins Caufield & Byers
Robert C. Clark
Distinguished Service Professor, Harvard University
Mathias Döpfner
Chairman, Chief Executive Officer, Axel Springer AG
Jessica P. Einhorn
Dean, Paul H. Nitze School of Advanced International Studies (SAIS), Johns Hopkins University
Fred Hassan
Former Chairman and Chief Executive Officer, Schering-Plough Corporation
Michael A. Miles
Special Limited Partner, Forstmann Little & Company
Kenneth J. Novack
Senior Counsel, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC
Deborah C. Wright
Chairman, President and Chief Executive Officer, Carver Bancorp, Inc.
What Do the Senior Corporate Executives at Time Warner Have to Say?
Jeffrey L. Bewkes
Chairman and Chief Executive Officer
Paul T. Cappuccio
Executive Vice President and General Counsel
Patricia Fili-Krushel
Executive Vice President, Administration
Gary L. Ginsberg
Executive Vice President, Corporate Marketing and Communications
John K. Martin
Executive Vice President and Chief Financial Officer
Carol A. Melton
Executive Vice President, Global Public Policy
Olaf Olafsson
Executive Vice President
Connected Time Warner Inc. Companies
Global Media Group, HBO - Home Box Office, Warner Bros. Entertainment,Time Inc., Turner Broadcasting System, AOL - ALL Liable for this Multi-Trillion Dollar Stolen Technology.
More Links to the Iviewit Stolen Technology Story
http://www.iViewit.tv/
http://www.DeniedPatent.com/
http://www.JeffreyBewkes.com/
http://www.ceopaulotellini.com/
http://www.brucesewell.com/
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