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FCC Convenes En Banc Hearing on Telecommunications Industry October 7th
Posted: 06-Oct-2002 [Source: FCC press releases - edited]

[The FCC's En Banc hearing brings together various experts to conduct a comprehensive assessment of the telecom sector including a discussion regarding steps necessary to restore its financial health.]

Washington, DC -- FCC Chairman Michael K. Powell announced that the Commission will bring together experts from the financial community and academic economists at an en banc hearing to conduct a comprehensive assessment of the current state of the telecommunications sector and to discuss steps needed to restore its financial health.

The agenda and participants include:

-Opening Presentations

A Macro Overview of the U.S. Economy Simon Wilkie, Chief Economist, FCC

Overview of Financial Industry Basics Rob Gensler, Portfolio Manager, T. Rowe Price

-Panel Discussion: Restoring Financial Health to the Telecommunications Sector

Robert Konefal, Managing Director, Corporate Finance Group, Moody's Investors Service

Barry Nalebuff, Professor, Yale University School of Management

Hal Varian, Dean of School of Information Management and Systems, University of California, Berkeley

Kim Wallace, Managing Director and Chief Political Analyst, Lehman Brothers

Lara Warner, Director, Credit Suisse First Boston

Larry White, Professor of Economics at New York University Stern School of Business

"The purpose of this hearing is to bring together key voices from the financial and research communities to discuss the financial state of the industry and what measures need to be taken to revitalize and restore the financial health of the telecommunications industry, restore public trust and prevent further erosion from the current financial turmoil in this sector," Powell said.

In testimony before the Senate Commerce Committee July 30, 2002, Powell said recovery was dependent on the collective efforts of Congress, federal and state regulators, the private sector and financial markets. "The October 7 th en banc hearing is a critical step in bringing together expertise from the private and public sectors to continue the collaborative process of restoring financial health to the industry," he said.

Powell said the en banc hearing would build upon meetings he convened with industry and financial leaders in New York in June to gain a first-hand understanding of the challenges facing the industry and to foster open lines of communication between the financial community, regulators and industry.

The en banc hearing will be held from 2:00 to 4:00 pm at FCC headquarters, 445 12th Street, SW, Washington, DC, in the Commission Meeting Room (Room TW-C305). The en banc is open to the public and seating will be available on a first come, first served basis. Audio/video coverage of the hearing will be broadcast live on the Internet from the FCC website at www.fcc.gov/realaudio.

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