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story category 700Mhz Auction Nets $2.78 Billion On First Day
Could continue for months....
(old news - 09:11AM Friday Jan 25 2008)
tags: business · wireless
Though FCC rules prohibit us from knowing who is bidding what amount, more than $2.78 billion in bids have been entered so far in the FCC's 700Mhz auction, reports the NY Times. $1.24 billion was an offering bid for the highly prized "C" block spectrum, which could be used to build a new national wireless broadband network. The bidding process could last months; if the FCC's reserve bid prices aren't met, the spectrum could be re-auctioned without any open-access conditions.

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Forums » 700Mhz Auction Nets $2.78 Billion On First Day
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Post a:
RouterCab

join:2002-05-08
Sioux Falls, SD
clubs:

Money?

I was always wondering where this money when to in the US budget? Does the FCC have discretion on the use.... help rural broadband... something positive, or just right back to the Businesses?

gaforces
United We Stand, Divided We Fall

join:2002-04-07
Santa Cruz, CA

2 edits

Re: Money?

It goes to the US Treasury. The money the FCC gets has to be approved by Congress. They (FCC) don't control the money from the auctions.

SilenceGold
Premium
join:2003-07-31
Benton, AR

Re: Money?

I hope the USA gets the money after Bush steps down at the end of his term. Otherwise, more money for his war. :/

Vertickle

join:2003-08-05
Madison, AL
·Knology

Re: Money?

said by SilenceGold See Profile :

I hope the USA gets the money after Bush steps down at the end of his term. Otherwise, more money for our war. :/
There. I fixed it for you.

SilenceGold
Premium
join:2003-07-31
Benton, AR

Re: Money?

Not acceptable.

I meant the Iraq war..not the Afghanistan war. Our war is the Afghanistan war while Iraq war is Bush's.

Anyways, this is off subject..let's go back and stay on the subject.

S_engineer

join:2007-05-16
Chicago, IL
·Comcast

Re: Money?

said by SilenceGold See Profile :

Not acceptable.

I meant the Iraq war..not the Afghanistan war. Our war is the Afghanistan war while Iraq war is Bush's.

you said it...and I meant the Iraq war too...read it and weep »archives.cnn.com/2002/ALLPOLITIC···iraq.us/

Not that our discussion is out of sequence are you happy?

LiamJunket
Premium
join:2002-03-03
Ocean City, NJ
·Comcast

said by SilenceGold See Profile :

Not acceptable.

I meant the Iraq war..not the Afghanistan war. Our war is the Afghanistan war while Iraq war is Bush's.

Anyways, this is off subject..let's go back and stay on the subject.
You mean after you took it off subject after you got your cheap shot in?
--
Internet News
My BLOG
My Web Page

SilenceGold
Premium
join:2003-07-31
Benton, AR

Re: Money?

No.

I have already requested for a mod to move those posts over to a new thread so I can continue discussing (or debate rather).

For now, I'm refraining from making the posts until the move has been made.

S_engineer

join:2007-05-16
Chicago, IL

Re: Money?

you start by making a wrong statement and then request to have them all removed.....wow. shows where your brass is!

Nothing like lettin g the facts get in the way of a discussion huh!~!!!!

*%^#@(*

gaforces
United We Stand, Divided We Fall

join:2002-04-07
Santa Cruz, CA

1 edit
Just do it here, the auction is boring and wont be final for weeks.

serge666

join:2004-06-07
Little Falls, NJ

1 edit
said by SilenceGold :
I hope the USA gets the money after Bush steps down at the end of his term. Otherwise, more money for his invasion. :/
There. I fixed it for you.

S_engineer

join:2007-05-16
Chicago, IL
his war huh...his and the 294 house representatives as well as 77 (29 democratic) senators that voted for it!~

gaforces
United We Stand, Divided We Fall

join:2002-04-07
Santa Cruz, CA
·Cruzio Internet


1 edit

Re: Money?

said by S_engineer See Profile :

his war huh...his and the 294 house representatives as well as 77 (29 democratic) senators that voted for it!~
"Yellow Cake! Yellow Cake! Yellow Cake! Aroooooooooo" cried the wolf.

S_engineer

join:2007-05-16
Chicago, IL
·Comcast

Re: Money?

said by gaforces See Profile :

said by S_engineer See Profile :

his war huh...his and the 294 house representatives as well as 77 (29 democratic) senators that voted for it!~
"Yellow Cake! Yellow Cake! Yellow Cake! Aroooooooooo" cried the wolf.
Free health care, free health care, free health care....alll I need is your vote!!! Arooooooooooooo

gaforces
United We Stand, Divided We Fall

join:2002-04-07
Santa Cruz, CA
·Cruzio Internet

Re: Money?

said by S_engineer See Profile :

said by gaforces See Profile :

said by S_engineer See Profile :

his war huh...his and the 294 house representatives as well as 77 (29 democratic) senators that voted for it!~
"Yellow Cake! Yellow Cake! Yellow Cake! Aroooooooooo" cried the wolf.
Free health care, free health care, free health care....alll I need is your vote!!! Arooooooooooooo
Don't forget Change, "Cause it's different!"
--
‘Do ye, quieting in your bosoms your strong hearts,
Who of many good things have had your fill even to surfeit,
With what is moderate nourish your mighty desire; for neither will
We yield, nor shall you have all else as you wish.’
Solon
xsiddalx

join:2005-03-11
Chicago, IL
·AT&T Yahoo
·AT&T DSL Service

(OT) Re: Money?

said by gaforces See Profile :

Don't forget Change, "Cause it's different!"
Votes are selling at the same price as 2000.

Take those rebate checks and run!

gatorkram
Spelling and Grammer impared
Premium
join:2002-07-22
Winterville, NC
clubs:
Did someone say free cake, or did I read that wrong..

I want free cake..

gaforces
United We Stand, Divided We Fall

join:2002-04-07
Santa Cruz, CA

Re: Money?

Once again, they discriminate against us pie eaters ...

Matta

@cavtel.net
Agreed. It could solve world hunger and result in world peace.

BF69

join:2004-07-28
Camden, TN

said by S_engineer See Profile :

his war huh...his and the 294 house representatives as well as 77 (29 democratic) senators that voted for it!~
I hate to break it to you but the last time Congress actually delcared war was in 1941.

S_engineer

join:2007-05-16
Chicago, IL

Re: Money?

I stand corrected..."War Resolution"
Airwolf7
Premium
join:2004-12-12
Franklin, KY

1 edit
SilenceGold, Irregardless of your political party or opinions about "The War" it is our War because we are paying for it.

I'm assuming that you are a taxpayer, is that correct?

natter

join:2000-12-18
Littleton, CO
You mean Hillary's healthcare/welfare plan. Need major money for that.
--
Life's a bitch, don't vote for one..
joker5656

join:2006-06-23
Greenville, SC
·Charter Pipeline

Re: Money?

said by natter See Profile :

You mean Hillary's healthcare/welfare plan. Need major money for that.
Yeah its called raise taxs, and put poor people in jail cause they can't afford to work to pay for FORCED health care.

Vertickle

join:2003-08-05
Madison, AL
Cute sig.

LiamJunket
Premium
join:2002-03-03
Ocean City, NJ
·Comcast

said by gaforces See Profile :

It goes to the US Treasury. The money the FCC gets has to be approved by Congress. They (FCC) don't control the money from the auctions.
Some of the money was set aside to fund the voucher program for converters for the conversion to digital TV.
--
Internet News
My BLOG
My Web Page

Mike
Premium,Mod
join:2000-09-17
Pittsburgh, PA
clubs:

Re: Money?

...which was just given away + 98 billion dollars more to the national debt due to the "stimulus package".

gaforces
United We Stand, Divided We Fall

join:2002-04-07
Santa Cruz, CA
·Cruzio Internet


3 edits
It looks like they are borrowing from the US Treasury general fund to pay for coupons, then in 2009 they will take the money from the auction fund, and put it into the general fund.

From; >> »www.dtv.gov/DTVAct.pdf

(i) ESTABLISHMENT OF FUND.--There is established in the
Treasury of the United States a fund to be known as the Digital
Television Transition and Public Safety Fund.
(ii) PROCEEDS FOR FUNDS.--Notwithstanding subparagraph
(A), the proceeds (including deposits and upfront payments from
successful bidders) from the use of a competitive bidding system
under this subsection with respect to recovered analog spectrum shall
be deposited in the Digital Television Transition and Public Safety
Fund.
(iii) TRANSFER OF AMOUNT TO TREASURY.--On September
30, 2009, the Secretary shall transfer $7,363,000,000 from the Digital
Television Transition and Public Safety Fund to the general fund of the
Treasury.
(1) implement and administer a program through which households
in the United States may obtain coupons that can be applied toward
the purchase of digital-to-analog converter boxes; and
(2) make payments of not to exceed $990,000,000, in the
aggregate, through fiscal year 2009 to carry out that program from
the Digital Television Transition and Public Safety Fund established
under section 309(j)(8)(E) of the Communications Act of 1934 (47
U.S.C. 309(j)(8)(E)).
(b) Credit.--The Assistant Secretary may borrow from the Treasury
beginning on October 1, 2006 such sums as may be necessary, but not
to exceed $1,500,000,000, to implement this section. The Assistant
Secretary shall reimburse the Treasury, without interest, as funds are
deposited into the Digital Television Transition and Public Safety Fund.
--
‘Do ye, quieting in your bosoms your strong hearts,
Who of many good things have had your fill even to surfeit,
With what is moderate nourish your mighty desire; for neither will
We yield, nor shall you have all else as you wish.’
Solon
Forums » 700Mhz Auction Nets $2.78 Billion On First Day


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