Looks as though you had the right idea, Gabor. Put all your eggs in one basket and then await the news. Take a look at this:
Company Press Release
WinStar Wins Court Case Opening Federal
Telecommunications Markets to More Than One
Local Service Provider
Bids for GSA Contracts in New York City, Chicago and San Francisco
NEW YORK--(BUSINESS WIRE)--Sept. 14, 1998-- WINSTAR COMMUNICATIONS, INC. (NASDAQ:WCII -
news) said today that it won a federal court case which will potentially open telecommunications contracts worth hundreds of
millions of dollars to bidding by WinStar and other competitive carriers.
The U.S. Court of Federal Claims rejected the federal government's decision to limit multimillion-dollar local
telecommunications contracts to a single awardee, opening federal telecommunications markets in dozens of U.S. cities to more
than one service provider. The Court made this decision in response to a protest filed by WinStar relating to a contract to be
awarded by the U.S. General Services Administration (GSA) under its Metropolitan Area Acquisition (MAA) program.
The MAA program provides the basis for the purchase of local telecommunications services by federal agencies in more than
40 major markets across the U.S. The first MAA contract will be for local telecommunications service in the New York City
area and is valued at up to $200 million. WinStar's Large Accounts unit has bid for the New York City MAA contract, as well
as for those in Chicago and San Francisco.
GSA originally announced that it would award only one contract to serve federal agencies in the New York City area, for up to
eight years. In sustaining WinStar's protest, the Court found that the government failed to follow a statutory mandate to give
preference to multiple-award contracts.
Robert McGuire, President and Chief Operating Officer of WinStar Large Accounts, said, ''Our Large Account business,
which provides telecommunications services to major corporations and institutions, has been extremely successful. This victory
gives WinStar the opportunity to expand into an entirely new market with great potential. We are uniquely positioned to
compete for a significant portion of these contracts because of the flexibility and broadband capacity provided by our Wireless
Fiber(SM) service. We are also pleased that we have recently become the first competitive local exchange carrier (CLEC) to
be placed on the GSA list of qualified vendors for these contracts.''
William J. Rouhana, Jr., Chairman and Chief Executive Officer of WinStar, said, ''We are very pleased with this decision. It
did not make any sense to perpetuate a monopoly through a sole-award federal contract for local telecommunications services.
This is especially true in large cities where competition could yield significant savings for the government.''
WinStar Communications, Inc. is a facilities-based national local communications company, serving business customers in
major markets throughout the U.S. The company provides local and long distance phone service and high speed data, Internet
access and information services. WinStar provides these Wireless Fiber(SM) services over its own network, using its licenses
in the 28 and 38 GHz spectrum.
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, which are described in the company's SEC reports, including the 10-K for the
period ended December 31, 1997 and the 10-Q for the period ended June 30, 1998.
WinStar is a registered trademark, and Wireless Fiber is a service mark of WinStar Communications, Inc.
Contact:
WinStar Communications Inc.
Financial Community:
Daniel Briggs, 212/584-4098
Press:
Beth Ellen Keyes, 212/584-4053 |
