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Entries from December 1, 2010 - December 31, 2010

Thursday
Dec302010

Federal-State Universal Service Joint Board Staff Releases Monitoring Report

Source: FCC Report Release

The staff of the Federal-State Joint Board on Universal Service has released its most recent Monitoring Report on Universal Service. This report contains information designed to monitor the impact of various universal service support mechanisms, and the methods used to finance them, based on data filed by the telephone industry with the Federal Communications Commission through October 2010. This report, with a few exceptions, reflects data filed with the FCC by the telephone industry for the year 2009 and prior years, and projections for 2010.

A monitoring program was established in the mid-1980's, at the recommendation of the Separations Joint Board, to track trends related to universal service and related matters. Since then, Joint Board staff prepared Monitoring Reports at least once a year -- a compendium of statistical data on subscribership and penetration, loop costs, separations factors, universal service fund payments, etc. The report is the only Commission document that includes information on every incumbent local telephone company in the nation. In 1998, the publication of this report was moved from the Separations Joint Board staff to the Universal Service Joint Board staff. This is the fourteenth Monitoring Report from the Universal Service Joint Board staff.

Click here to download full report.

Thursday
Dec302010

FCC Takes Further Steps to Ensure Fiscally Responsible USF

Source: FCC Release

In this Order, we amend our rules to reclaim high-cost universal service support surrendered by a competitive eligible telecommunications carrier (ETC) when it relinquishes ETC status in a particular state.

Download order here.

Thursday
Dec302010

Clearwire's Chairman to Exit before New Year

Source: Clearwire SEC 8-K Filing

In a filing with the SEC, Clearwire (Nasdaq:CLWR) announced that Craig McCaw, the chairman of the board of directors, informed the company of his decision to resign from his position on the company’s board, effective December 31, 2010. Mr. McCaw was originally nominated to his position by Eagle River Holdings, LLC (“Eagle River”) pursuant to the Equityholders’ Agreement dated November 28, 2008 by and among the Company, Sprint Nextel Corporation (NYSE:S), Intel Corporation (Nasdaq:INTC), Google (Nasdaq:GOOG), Comcast Corporation (Nasdaq:CMCSA), Time Warner Cable (NYSE:TWC), Bright House Networks, and Eagle River (the “Equityholders’ Agreement”). Mr. McCaw served as chairman of the Board for over 2 years, and served as the chairman of the company’s predecessor entity for more than 5 years. Mr. McCaw’s decision to resign is not due to any disagreements with the company on any matters relating to the company’s operations, policies, or practices. Eagle River retains the right under the Equityholders’ Agreement to nominate one additional director to replace Mr. McCaw, and it has indicated to the company that it intends to nominate Benjamin G. Wolff.

Wednesday
Dec292010

Verizon Teases Home Monitoring System

Source: Verizon Press Release

Verizon (NYSE:VZ) announced the development of an home monitoring and control service. The service, now in the trial phase and expected to be available in the first half of 2011, will enable customers to lock doors remotely; see what's going on at home via networked cameras; and set, adjust and control lights, smart thermostats and appliances -- all by using a smartphone or a computer or through FiOS TV.

Verizon will showcase the new service, Home Monitoring and Control, at the 2011 International Consumer Electronics Show in Las Vegas, from Jan. 6-9.   
 
Beginning in January, a pilot program for Home Monitoring and Control will be conducted in New Jersey.  The homes selected for the program will be outfitted with an energy reader, smart appliance switches and thermostats, a smart power strip, a smart door and window locks, motion sensors, an advanced pan-and-tilt camera, and a fixed indoor and outdoor camera.
 
"What we'll be testing in these homes is just the beginning," said Eric Bruno, vice president of product management for Verizon. "We're giving customers a remote control for their homes that they can use to cut CO2 emissions and their energy bills and give them anytime, anywhere access and control of their homes. The concept of the connected home has been discussed for many years, and now Verizon's high-IQ networks are making that concept a reality by converting customers' homes into bandwidth-rich ecosystems that enable a wide variety of customizable options."
Wednesday
Dec292010

Qwest Buys Back Debt

Source: Qwest Press Release

Qwest Communications International (NYSE:Q) announced that it has redeemed all of its outstanding 3.5% convertible notes due 2025 (the “Notes”). Approximately $1.1b of the Notes (par value) were redeemed for a total cash cost of $1.7b. Since February 2010, Qwest has reduced debt by about $3.3b as part of its plan to reduce debt by $3.5b by the end of the first quarter of 2011.