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Technology Stocks : Nextwave Telecom Inc.

WAVE 7.660

-6.1%

Nov 13 3:58 PM EST

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To: JGoren who wrote (732)	3/6/2002 1:21:14 PM
From: pcstel	Read Replies (1) of 1088

"The FCC, as usual, has fouled up everything." Maybe, but Nextwave missed their buildout deadlines in many of their C Block BTA's by as little as a few days in some cases, to 6 to 8 weeks in other cases! To put this in perspective. LWIN acquired (finalized) some Michingan properties in May. They realized they were going to miss the buildout deadline by a couple of weeks, and asked for an extension. The FCC granted the extension, but stated that this was very unusual. LWIN completed the buildout before the deadline anyway! These licenses hold many covenants. One of them is the buildout deadlines. Do you think that a BK judge can simply over-power the FCC's ability to regulate covenants which have little to do with the case at hand? I mean they (Nextwave) should have been able to build protection builds in six months! EASY!! But, they did not start until it became obvious that Congress was not going to pass the plan. If you miss the buildout deadline.. You are in violation of the covenants surrounding the authority. And the FCC can retract the authority. PCSTEL

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