Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: margie who wrote (59030)	6/25/2001 8:19:36 PM
From: t4texas	Respond to of 74651

is nextwave a fool? in an open auction with many bidders for spectrum how do you think a sophisticated bidder, such as nextwave, can overpay??? to me it always appeared to be nextwave's strategy to bid whatever it needed to bid to win the spectrum whether it had access to the money or not (wasn't more than 50% of the money coming from korea?). nextwave always had the calculated risk of raising money after the auction that it did not have at the time of the auction. nextwave blew the risk and could not make the payments. the whole mess since then is an electrocomedy. just to let you know i have no direct connection to the wiressless telecom industry and no connection to the us government other than my citizenship, and i am amazed the fcc was so stupid not to have concrete legal rulings in writing for all participants before the auctions started. at every auction there are deadbeats who bid it up and cannot pay. nextwave bid money it did not have, and then could not find the greater fool to help raise the needed cash in time to pay the government. the rest for nextwave is rationalization and equivocation in hopes that the lawyers can help the courts fail the common sense test.