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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: Dennis Roth who wrote (805)5/27/2002 6:14:30 PM
From: carranza2   of 1088
 
Looks like Verizon and Voice Stream are simply hedging bets because it appears that NextWave is a tough nut to crack as far as settlement is concerned.

If the bill gets approved, they get their deposit money back and can buy the spectrum from NW at reduced prices should NW win at the Supreme Court. Also a way to get NextWave to be more reasonable in current settlement negotiations.

How does NW win if it wins at the Supreme Court, then has to pay "inflated" prices for spectrum? Sounds to me like it is between a rock and a hard place.

If NW takes the Supreme Court case to final conclusion and loses, VS and Verizon can re-bid at lower prices if the bill passes. Will the FCC seek to enforce their original bids if the bill fails? Who knows, but I would suspect that it would. If the FCC is successful in such a scenario, this would be a blow to Verizon and VS. Probably a main reason why the bill is being pursued by their Congressional friends.

Nice to have friends in high places to help crack tough little nuts. Wonder what the FCC's position on this bit of Congressional largesse to Verizon and Voice Stream might be? By all rights, it should oppose it.

Spectrum is like real estate, they ain't making any more of it. But it doesn't mean that it doesn't have a fair price. NextWave overpaid, at the end of the day, and it can't escape the consequences, win or lose at the Supreme Court.
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