Subject: [NEXTEL-1] Verizon Whiners

From: Marcel <[email-masked]>
Date: Mon, 06 Jan 2003 14:15:40 -0500

Verizon Whiners

December 2, 2002 Verizon has now gotten back its upfront money
and had cancelled all obligations arising under its participation in the
auction for that PCS spectrum which was held by Nextwave and
was re-auctioned by the FCC. Verizon got back its dough by
whining, cajoling, lobbying and generally being a pain in the neck to
everyone who might listen about its plight. Verizon’s latest and
greatest effort included a claim that the terrible financial state of
the telecommunications industry would be relieved if Verizon was
not forced to maintain its upfront payment in escrow and, most
importantly, made to pay the amount bid if and when the spectrum
becomes available. Thus, Verizon would not have to list a few billion
bucks on its balance sheet in debt for that spectrum.

It is not entirely clear whether the FCC bought Verizon’s bogus
argument or just threw in the towel on keeping the money and
enforcing the results of the auction. The matter is pending before
the U.S. Supreme Court and it looks like Nextwave will be able to
keep its licenses. However, what is clear is that Verizon got back its
upfront money, cancelled the debt on its books, and applied its
improved financial status to paying down other debts of the
corporation. How the telecommunications industry, as a whole, is
helped by Verizon’s improved accounting is a mystery that has not
been explained.

Regardless of the basis for the return of Verizon’s money, the
Weasel agrees that the funds should have been returned. The fact
is that the agency has not been able to deliver clear title to the
spectrum and there is substantial doubt as to whether it ever will
be able. Verizon should not be held in financial limbo forever while
the FCC sorts out its legal authority to auction the subject
spectrum. Verizon showed quite a lot of patience, but there does
come a time when the seller has to deliver. The FCC couldn’t fill its
backorder and so the buyer is entitled to a refund, and to cancel
the sale.

http://www.sa-lawyers.net

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From: "sparkie_rf <[email-masked]>" <[email-masked]>
Date: Tue, 07 Jan 2003 15:24:30 -0000

--- In [email-masked], Marcel <marcelrf@b...> wrote:
> whining, cajoling, lobbying and generally being a pain in the neck 

Don't blame Verizon, blame Sprint. 

The folks at Verizon have a thin skin and were pissed (and 
embarrassed) at Sprint's constant ridicule over the fees Verizon 
offered during the Nextwave auction.

This is one of Sprint's bad habits, prematurely antagonizing 
competitors. They've done it with Nextel and Verizon. The net affect 
is that the competitor benefits. Dear Sprint, loose lips sink 
ships!!! Who's next?