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Technology Stocks : Nextwave Telecom Inc.
WAVE 8.150-0.9%Nov 11 3:59 PM EST
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To: pcstel who wrote (754)3/13/2002 9:58:01 PM
From: pcstelisaliar1 Recommendation  Read Replies (2) of 1088
 
PCSTEL.

Once again, half truths and bold face lies.

Actually, NextWave claimed that the FCC Flooded the market during the period that they failed to issue the licenses to the winners of Auction 005 - for about 1 year after the close of the auction. During that period the FCC held a whole other auction (DEF). Note - The FCC issued the A&B block licenses immediately following the close of that auction - even though they were investigating some of the winners (all winners received their licenses at the same time despite the investigation).

This delay was what inhibited NextWave from raising capital, in addition to the uncertainty that was building because of the then Pocket bankruptcy and the GWI bankruptcy.

Which brings me to GWI. GWI was successful in the FEDERAL COURTS proving that the FCC fraudulently conveyed the licenses - their debt was reduced by 90% (1.1B to 160M). And that case went through FEDERAL BK, FEDERAL DISTRICT COURT, FEDERAL APPEALS COURT and the US SUPREME COURT all with the same result - FCC FOUND GUILTY AS CHARGED.

And just think Verizon is now saying the same thing. They won markets in Auction 35 only to have the FCC not convey the licenses to them, a whole 14 months later. Now Verizon is saying that they aren't worth what they bid 14 months ago, we want out, give us our money back. Boy, the FCC sure get's themselves into some deep doo doo.

Just imagine if the FCC does prevail at the US Supreme Court and try's to get the Auction 35 bidders to pay up - I bet we see a couple of Fraudulent Conveyance lawsuits! DaJaVu, perhaps.......

So, unless you have something worthwhile to post other than FILLER Bullshit get off of this thread!
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