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

To: Maurice Winn who wrote (666)	2/3/2002 5:23:43 PM
From: pcstel	Read Replies (1) \| Respond to of 1088

PCSTEL, if the bidders in the fake auction expected to get their money back if the judgements went in favour of NextWave, which they did, then the FCC decides to keep the money, it looks to me like a fraud. Fake auction? There are several companies that have had their "Grants of Use" conveyed from Auction 35. As far as the return of deposits goes. I think it depends on how you determine the term "FINAL". I think the FCC thinks it means. FINAL, like Supreme Court. Whereas, some operators think FINAL means, what some lower court knucklehead judges say. Message 16993751 *C AND F BLOCK BROADBAND PCS SPECTRUM AUCTION SCHEDULED FOR NOVEMBER 29, 2000, RESCHEDULED FOR DECEMBER 12, 2000 REVISED LIST OF AVAILABLE LICENSES* E. Clarification of Payment Issue Relating to Licenses Subject to Pending Proceedings As noted above, potential bidders should be aware that certain of the licenses included in Auction No. 35 are or may become the subject of Commission or judicial proceedings initiated by parties claiming to have continuing interests in the licenses, despite their failure to meet payment obligations. This Public Notice clarifies that the Commission will return the payments made by winning bidders of licenses in Auction No. 35 in the event that such bidders are subsequently required to surrender licenses won to prior applicants or license holders *as a result of final determinations reached in pending proceedings.* The Commission, however, will not pay interest on the returned payments as it lacks legal authority to do so. Including contested licenses in the auction helps to fulfill the Commission’s statutory mandate to hasten the development and deployment of new technologies and services and to promote competition for the benefit of the public. A leaseholder [say a gas station] leases land, signs a contract and agrees to certain financial arrangements. If they fail to make payments, that doens't mean that the owner of the land [leased from the state] can then kick the tenant off the site. They are another creditor in the queue. But, I thought that that previous contracts were nullified under Bankruptcy.. Everyone says that is why G* needs to file bankruptcy to get out of the contracts with those greedy service providers who maintain a "steel trap" on the exclusive use of these frequencies. The Govt. owns the spectrum, which has been made available for L/Q's use as a Grant of Use. L/Q then allows GLP to use the license, which is in turn granted to Globalstar USA. If GUSA files bankruptcy, then by your measure. GUSA now owns the regulatory approval.. Not GLP nor L/Q Partnership because the "Grant of Use" has been implied to be their main asset. With out use of the spectrum. They have no business. So in some strange turn of events. Some knuklehead judge decides that the L/Q Partnership "Grant of Use" for Globalstar spectrum is really an asset of GlobalstarUSA/ Vodaphone. And being such. The Federal Government loses it's ability to administer the "Grant" of that spectrum. L/Q Partnership loses it's ability to administer and collect monies from G*USA for the use of this spectrum. Does that sound correct? The problems come from the wacky ideas that Congress comes up with, such as racist and sexist bidding rules, limiting the size of companies which can bid, approving subscriber price plans, dictating that the called party pays, selling ratty little bits of spectrum all over the place with restrictions on technological use, not requiring cash on the barrelhead. Governments are not perfect. But, that does not mean that I rally behind a company that pleaded with the Commission for Mercy when it was discovered that they lied on all of their license applications, bidding qualificatons, etc. Pleaded for the FCC to relax the payment procedures. Then when the FCC compasionatly complied with their requests. Nextwave decided that the spectrum use rights were not really worth what they agreed to pay to use them, and filed Bankruptcy to deliberately try and get them for a much lower price. And decided to try and screw the FCC and the US Govt. As we saw from Hanging Chadgate. The Supreme Court sometimes acts for the good of the country, instead of By the Law of the Country. PCSTEL