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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: kgran who wrote (3958)	1/13/2000 1:36:00 AM
From: quidditch	Read Replies (1) \| Respond to of 15615

Pretty close to the last word, I would think. Nextwave may appeal, there may be third party intervenors on behalf of Nextwave (e.g., GBLX--but it may now change strategy and go for spectrum directly). I think that the Second Circuit Court of Appeals ruled, in remanding back to the Bankruptcy Court, that spectrum is a public good, that no private interest can have "property rights" in spectrum directly and the the gov't--i.e., the FCC--has exclusive jurisdiction to set the terms of how spectrum is allocated, awarded, licensed etc. Of course, FCC's power over the airwaves preempts any inconsistent state or local interest. Appeal could come on basis of FCC abusing its discretion in canceling/revoking the spectrum grant in that Nextwave could claim that allowing it to emerge from Ch. 11 is the most rapid path to putting spectrum to work. Steve