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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: pcstel who wrote (19940)	3/8/2002 3:07:42 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 196650

pcstel, the FCC had apparently decided to effect the international telecommunications ownership deregulation at an earlier date in the interests of getting a lot of loot. The FCC did not need to provide the licences to NextWave when they were fully aware of the ownership structure of NextWave as shown by their requirement that ownership be corrected prior to handing over of the licences. The boxes you claim were falsely filled did not prevent NextWave participating in the auction, they were merely information required by the FCC. If said information was false, then the consequence, if found by a court to be the case, was a fine or imprisonment. The FCC was obviously unconcerned about those details other than the ownership issue which they were happy to resolve by way of NextWave making a plan to correct the position. The unreasonable and absurd position taken by Congress was to favour women, "minorities" [whatever absurd definition they come up with for that] and 'small' companies. While I'd say it's reasonable to limit bids to USA entities, even that is stupid really, given the USA's vaunted favouring of free trade, which is hypocrisy writ very, very large. The USA should never open their mouths, whining like a fleet of Koreans, about Japan and others limiting free trade - the USA looks like complete liars, hypocrites and idiots. [See sheepmeat and steel import restrictions and vast farm subsidies]. The FCC then compounded the foolishness by running an auction where money wasn't paid in BEFORE the bidding started. The FCC forfeited their right to dump NextWave over the box-ticking when they accepted the ownership plans as presented by NextWave. They contracted in to NextWave's position. Being an international constitutional legal expert, I think you are wrong on this one. The FCC and Senator Hollings are going to be the big losers. The Supreme Court will show who's boss [it isn't the FCC and Powell or the President and Powell]. NextWave will be the loser too [since they won't get the loot from Verizon and the new bidders]. As I said might happen, way back in 1996, NextWave should have shut up and paid up as bid. They tried to get a 75% bankruptcy discount and ended up in a big mess. They will end up paying what they originally bid. That might net them a $billion profit if they then sell the spectrum to others. QUALCOMM will make a bit on it. Mq PS: Ramsey, no I didn't buy a little load of QUALCOMM at $32 [it was so like the 'wake up, milk the sheep' days that I was very, very tempted - having no money dissuaded me].