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Technology Stocks : The New Qualcomm - a S&P500 company -- Ignore unavailable to you. Want to Upgrade?

To: gdichaz who wrote (2419)	10/16/1999 10:35:00 AM
From: JGoren	Read Replies (2) \| Respond to of 13582

Given that the oral argument has been scheduled so quickly, the case must have been accelerated. The panel goes into conference after that day's oral arguments and makes its decisions; then the opinion is assigned. Opinion could be issued in a week or threemonths. I would think it would come out about a month after oral argument, assuming that the panel pretty much agrees on the first draft. This is assuming it has been put on fast track. I believe the Court understands why it is necessary to decide quickly. Part of it depends on what issues have been raised. As best I understand it, the only killer issue is the FCC's argument that the bankruptcy judge had no power to tell it what to do, to prevent it lifting the license, and cutting the price. I think I posted on the NextWave thread excerpts of the the bankruptcy judge's decisions. There was a motion to dismiss filed by the FCC, which was granted in part, but denied as to whether the bankruptcy court had the power to declare that a constructive fraud had occurred. That's the key issue. From reading the opinions that I did read it is fairly clear to me that there was evidence supporting the judge's finding of constructive fraud and evidence supporting his assessment of the value of the spectrum; I did not read the law he cited to determine whether the judge may have made a legal error, which could cause a problem. In any event, as long as the FCC continues to lose on the main point, the only question would be "how much." I don't see anything that can stop NextWave from rolling out service unless the FCC goes to court and gets an order stopping it, but I think that would take a decision by the court of appeals at least in part favorable to the FCC. However, the timeframe announced for the first iBridge service (60-90 days) would seem to be calculated to be after the court of appeals issues its decision.