A General Services Administration official refused to answer questions at a congressional hearing into an $823,000 Las Vegas conference criticized by lawmakers and the Obama administration for wasting taxpayer money.
Billionaire Phil Falcone is seeking to swap spectrum owned by LightSquared Inc. with that controlled by the U.S. Department of Defense, a person with knowledge of the company said, in an effort to salvage his investment and save his hedge fund.
Managers at the U.S. General Services Administration improperly intervened in decisions to award contracts, resulting in inflated prices and unfavorable terms for the government, according to an inspector general’s report.
Hedge fund manager Phil Falcone and his Harbinger Capital Partners were sued by a New York woman who claims she and others were misled about the fund’s decision to put most of the money they invested into LightSquared Inc.
California’s ballot measure proposing a $1-a-pack increase in cigarette taxes trailed by about 63,000 votes out of 3.9 million cast after the tobacco industry led a campaign that spent $46.8 million to kill it.