Twenty-seventeen will be the year New Yorkers will remember as the year the NYC subway system got wired. As of January 9, practically all underground stations will have cell phone and Wi-Fi service. The mammoth project was rushed along by Governor Andrew Cuomo in early 2016, inspiring Transit Wireless and the MTA to really get things rolling. “By bringing Wi-Fi and cell service underground ahead of schedule, we are re-imagining our subway stations to meet the needs of the next generation,” Cuomo said in a press release. “This will better connect New Yorkers who are on-the-go and build on our vision to re imagine the country’s busiest transportation network for the future.” In order to shave two years off the projected time-line for the project, Transit Wireless spent “well over” $300 million to install the system and bring in cell coverage from all four carriers; AT&T, Sprint, T-Mobile and Verizon Wireless. Transit Wireless connected the first six underground stations in 2011 in the Chelsea neighborhood of Manhattan. Now almost every single of the city’s 279 stations are connected, with the Clark Street station on the 2,3 line the last to connect. There are four stations under renovation which are not yet hooked up, but will come on-line immediately upon the completion of the renovations. Connecting underground was far from child’s play. During the installation, Transit Wireless installed: 120 miles of fiber optic cables to transport signals between stations and base station hotel data centers; 4,000 antenna connection points; and 5,000 Wi-Fi access...
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One of the savviest and well-respected of investment firms, Goldman Sachs, has decided to invest in the popular social networking internet presence, Facebook, to the tune of $500 million. Goldman Sachs, together with a Russian investor, values the company at a cool $50 billion, according to people involved with the deal, making Facebook worth more than powerhouse firms such as eBay, Yahoo, and Time Warner. The Goldman Sachs investment is a signal that Facebook’s strength is on the rise, beginning to compete with such internet monster companies such as Google, according to Wall Street analysts. The injection of money into Facebook’s operation will allow Facebook to steal highly valued employees, develop new, innovative products, and even look into acquisitions. All this is being accomplished while Facebook remains a non-publicly traded company. This new deal might also allow older shareholders, especially Facebook employees, to cash-in on at least some of their investments in the...
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