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Technology Stocks : Nextwave Telecom Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (662)	2/3/2002 2:34:14 PM
From: pcstel	Read Replies (1) \| Respond to of 1088

If the FCC violated bankruptcy laws by illegally holding an auction of some property they don't own, they defrauded bidders by pretending that the FCC was the owner and controller of the spectrum sold recently for $16 billion, despite the fact that the FCC had previously sold it to NextWave. Not only did they hold an illegal auction, but they now refuse to return the money paid by successful bidders, despite the auction being declared invalid by US courts. If I did all that, I think the constabulary would consider me an over-the-border criminal, not borderline. You've got a cheek calling the real owners of the spectrum borderline crooks. There was no defrauding of bidders! The Auction was held with the expressed knowledge that the regulatory approvals of certain of these authorities would only be conveyed to the high bidder if certain legal contingencies were clarified. The FCC published this statement to ALL Form 175 applicants. Due Diligence: Potential bidders and interested parties should be aware that various proceedings that may relate to the licenses available in Auction No. 35 may be pending or subject to further administrative review before the Commission, including, for example, waiver requests, petitions for reconsideration, and applications for review. In addition, certain judicial proceedings that may relate to the licenses available in Auction No. 35 are pending or may be subject to further review. Resolution of these matters could have an effect on the availability of spectrum included in Auction No. 35 and the auction is subject to such matters. Some of these matters (whether before the Commission or the courts) may not be resolved by the time of the auction. The Commission will continue to act on matters before it, but it makes no representations as to the resolution of judicial proceedings. Potential bidders are solely responsible for identifying associated risks, and investigating and evaluating the degree to which such matters may affect their ability to bid on or otherwise acquire licenses in Auction No. 35. Seems "crystal clear" to me. But, it appears that previous bidders in previous auctions either, could not read. Did not understand, Or decided to just ignore the Auction Rules. The one point you seem to refuse to understand. Nextwave does not OWN anything. They were granted the use of Federal Property for a given amount of time. This Grant of Use. was contingent upon meeting certain regulatory and financial rules. They did not meet the convenant's bound by these Grants. Therefore, they lost the use of these grants. Some group of bonehead judges didn't seem to understand that concept.. A matter which I expect the Supreme Court to straighten out. Radio and Television Staitons have gone dark and filed for bankruptcy for decades. The FCC has revoked their regulatory approvals by the dozens. Bankruptcy did not help them. Now, on you proposition that the FCC is holding the down payments from the bidders even though the authorities have been temporarialy returned to Nextwave. I would have to agree with you.. The down payments should be returned! PCSTEL