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

To: slacker711 who wrote (856)	1/27/2003 3:06:39 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 1088

What a lift for the day. I am so happy! I own nothing in Nextwave - the nearest I come to an interest is via QUALCOMM shares. It vindicates the idea once again that the USA is a great place to invest. Private property is private and not at the whim of the US government. This to me rebalances the books somewhat after the demoralizing decision to attack Microsoft for being an extremely successful company. That was a marker which I said would send me out of the USA. If only I'd taken my own advice and hadn't hung on for a while to see what would happen, I'd have been out of the USA market, free and clear, before the big crash. New York Times article about the NextWave decision, which was nytimes.com Stuff the public interest. It's the private interest which matters. <WASHINGTON, Jan. 27 — The United States Supreme Court ruled today, in a case of great importance for the telecommunications industry, that the federal government was wrong when it took back wireless communications licenses from a bankrupt company in 1998. The 8-to-1 decision was a defeat for the Federal Communications Commission but a victory for NextWave Telecom of Hawthorne, N.Y., which had won the licenses at auction but lost them when it fell behind in its payments. Government lawyers had argued that the F.C.C. had the right to repossess the licenses, despite NextWave's filing for bankruptcy protection, because the agency was acting not as a creditor but as a regulator. But Justice Antonin Scalia, writing for the majority, rejected the government's arguments. "The whole issue before us can be described as asking what the Bankruptcy Code's promise of a `fresh start' consists of," Justice Scalia wrote. The F.C.C. had asserted that it was acting in the public interest when it moved to take back the licenses to provide high-speed wireless data and voice commmunication services to consumers and businesses in 95 cities, for which NextWave had promised to pay more than $4 billion. Therefore, the agency argued, it could not be deemed to be motivated "solely" by NextWave's insolvency....continued...> But what a long, drawn-out affair. Delayed justice is no justice. In the 7 year period it has taken for the frequencies to go from auction to final decision a lot of people have died. NextWave could have given up. That shows why stock market crashes take so long to clear and why economic crunches can be so debilitating - the market clearing process, especially if courts are involved is tortuous and slow. The public interest is not served by attacking Microsoft, or NextWave, or QUALCOMM in another few years, when everyone on earth is using their pixelation process of phragmented photons to deliver cyberspace everywhere and the profits are stupendous. Anyone who wants to can right now buy the shares. They should not whine we the current risk takers make out like bandits. It's a free world. Well, it's not, but it should be. No, not free cyberspace you ninny [the other readers Slacker, not you - see that guy over there with the dopey dreads]. I mean free enterprise. If they want to, they can carry the risk too and buy QUALCOMM today for under $40 a share. No risk, no reward. Other than using the amazing cyberphone services, which they can decide on at the time, if it's what they want. They might prefer to stay in the stone age, hiding out in a hut in Montana, waiting for mayhem and the end of the world. Yayy for the Supreme Court. Mqurice