I met Phil Falcone a few years back when I worked on a couple assignments for Harbinger Capital, which had become majority shareholder in Parmalat and was getting the message out to reporters covering Europe. The Italian press called him "Il Falcone", "the Falcon". Phil's lastest venture, a hugely ambitious wireless network called LightSquared, launched earlier today. Burson Marsteller is handling PR and has its hands full. Phil has to raise billions in debt to finance the project, and I believe, will likely prevail.