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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 174.01-0.3%Nov 14 9:30 AM EST
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To: pcstel who wrote (19875)3/4/2002 6:15:37 PM
From: Art Bechhoefer  Read Replies (2) of 196650
 
The whole mess is the fault of the FCC, which failed to write provisions into the bidding that would automatically return unpaid spectrum to the FCC (with a penalty, perhaps). Because there were no safeguard provisions, NextWave ended up its unpaid spectrum, under protection of Chapter 11 of the bankruptcy law. This, as I understand, is what the Supreme Court will have to address--suspending the bankruptcy laws and allowing the FCC to reauction the spectrum, or allowing the bankruptcy laws to prevail just as they do with any other corporate assets. Again, had the FCC done its job to protect its right to recover unpaid for assets, there would be no issue today.

Art
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