LightSquared still has to prove its business model, which is a model that has failed several times in recent history.

FORBES: 4G And Other Wireless Goodies To Expect in 2011

"The traditional model of enterprise software has failed the customer, " he declares.

FORBES: Beltway Bet: RightNow Technologies

Has the shareholder-value model really failed, however?

ECONOMIST: Shareholders v stakeholders

He liked to portray himself as a pro-business liberal reformer but under him Italy has utterly failed to abandon a model that used lira devaluations to offset inflation and stagnant or falling productivity.

ECONOMIST: Italy and the euro zone

Since 2000 the model has well captured the steady-to- cooling trend shown in temperature data, while all IPCC GCMs have failed the prognosis by predicting steady warming.

FORBES: Global Warming? No, Natural, Predictable Climate Change