October 10, 2002
The Honorable Michael K. Powell
Dear Chairman Powell:
On behalf of the Administration, I would like to commend the Commission for reexamining its position on providing relief to the winning bidders of Auction No. 35. The Commission's decision is a step in the right direction toward revitalizing the Nation's telecommunications industry. In light of the current condition of the industry and the extraordinary circumstances presented by Auction No. 35, I would urge the Commission to take the next important step by granting relief to the winning bidders as swiftly as possible.
Over the last decade, the telecommunications industry, and particularly the explosive growth of the wireless sector, brought new services to consumers, increased productivity, and helped drive our economic prosperity. More recently, mounting debt loads and constricted capital markets have slowed the industry's progress.
Quick Commission action to grant relief from Auction No. 35, however, would bring much-needed stability to the wireless sector and would allow the sector to focus its resources on meeting the needs of consumers. By restoring certainty, the Commission can lay the foundation for renewed investment, innovation, and job-producing growth, both in the telecommunications industry and in the economy as a whole.
Thank you for your leadership on this very important issue.