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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Kingpin who wrote (3755)	2/7/1998 1:29:00 PM
From: Steven Bowen	Read Replies (1) \| Respond to of 12468

KingPin, I'll try to explain this to the best of my ability, but it's still not totally clear to me: Minimum Up front Covered Population Opening Bid Payment Req less than 100,000 .50 x Pop .30 x Pop 100,000 to 1,000,000 1.00 x Pop .60 x Pop greater than 1,000,000 2.25 x Pop .90 x Pop Your payment is converted into bidding points (ie $13M = 13M points). In any given round, the total up front points reg'd for markets you're interested in bidding on can't be greater than the up front points you deposited (does that make any sense?). For example WinStar will have 13M points. Up front req'd for San Fran was 5.8M and Chicago was 7.4M. Therefore WinStar couldn't bid on both San Fran and Chicago in the same round. It does seem like they could bid on Chicago in one round, then skip them the next round and bid on San Fran, and then later bid again on Chicago. I don't know if they would be able to win both markets or not. Who the real people and companies are behind these facades (ie WNP Communication) is the real question of the day. Ali, Mario Gabelli is the bidder behind one of the largest registered bidders. Isn't he kind of one of your guru's? It seems you've mentioned him a few times in the past. Mark, don't get Dub going again. It gets his blood pressure way too high.