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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 165.03+1.0%Nov 24 3:59 PM EST
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To: quidditch who wrote (38306)8/19/1999 8:20:00 PM
From: KyrosL  Read Replies (3) of 152472
 
Perhaps the FCC is trying to prevent the following scenario:

1. Submit a very high bid and, therefore, get the spectrum
2. Declare bankruptcy, and renegotiate the bid to a small fraction of the original bid.
3. Emerge from bankruptcy with a highly valuable bargain-basement priced spectrum and clean up.

I think the FCC is trying to protect the interests of the taxpayers here. The right way to resolve this is to redo the auction and allow everybody to bid.
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