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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 175.93+0.9%1:29 PM EST
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To: Andrew N. Cothran who wrote (12139)6/27/2001 12:19:34 PM
From: Jeff Vayda  Read Replies (1) of 196840
 
Andrew: Nothing the FCC did leading up to the reversal was prudent. Nextwave offered to make payments, but since Nextel was running the show through Kennard, the FCC tried to bully the spectrum away from NextWave.

I did not mean to imply that the funds were lost, just that a 'settlement' fund has been established at the Justice dept. (for any number of 'settlements' which may arise) and that fund is ultimately funded by US taxpayers. (If there was no fund theoretically my taxes would have been 3 billion less)

I dont think any payments have been made. Only that the companies 'bid' for the spectrum. If they have paid any amount for them - knowing the NextWave overhang - then they deserve to twist in the wind for years before the US govt manages to 'find' the deposits and refund them.

Jeff Vayda
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