FCC Auction for 700Mhz Ends

Excerpt from PhoneScoop.com
The FCC 700 MHz auction came to an end this afternoon, after 38 days, 261 rounds, and $19.6 billion in bids. Of the five large blocks being auctioned off, spectrum licenses in the A, B, C, and E blocks reached their minimum bids. The D block, which was reserved for a nationwide public safety network, failed to reach the minimum bid and is being officially removed from the auction.

The FCC may attempt to sell it off again in a separate auction. The C block, which generated the most interest because it covers large portions of the U.S., reached its minimum bid early in the auction and has remained mostly stagnant since. The FCC will not disclose the names of the winners of the 1,099 licenses that were made available for up to 10 days.

Technology History: The Dot Com Crash

The Dot Com Crash occured from March to October in 2002 -- when the NASDAQ stock market composite index lost 78% of its value. The bubble began in the mid 1990s with widespread, public availability of the World Wide Web.

The new economy of the Internet set the stage for euphoria where speculators were barely able to control their excitement. The crash was set into motion as a series of losses and failures (such as Netscape) were reported in the first quarter of 2000.