Interesting People mailing list archives
The FCC's Strange Non-Profit
From: Dave Farber <dave () farber net>
Date: Thu, 04 Sep 2003 02:24:12 -0400
Date: Wed, 03 Sep 2003 19:05:32 -0700 From: Dewayne Hendricks <dewayne () warpspeed com>[Note: This item comes from reader Jack Powers. I believe that I posted an item on this a while back. Looks like its resurfaced now that Powell is perceived to be in trouble. DLH]
At 12:33 PM -0700 9/3/03, Jack Powers wrote: From: Jack Powers <pheezer () cryptnet org> To: Dewayne Hendricks <dewayne () warpspeed com> Subject: Date: Wed, 3 Sep 2003 12:33:02 -0700 MIME-Version: 1.0
The FCC's Strange Non-Profit FCC Chairman Michael Powell runs venture capital firm that claims it's private By Bob Williams WASHINGTON, June 18, 2003 - A quasi-governmental corporation set up to fund telecommunications company start-ups is spending nearly as much on executive salaries and overhead as it is investing in companies, a Center for Public Integrity investigation has found. The Telecommunications Development Fund was created by Congress in 1996 to kick-start small communications firms in hopes of spurring innovation and competition. Instead, the six-year-old fund has paid more than $7 million in executive salaries and other expenses while investing only $9.4 million of seed money in start-ups.
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- The FCC's Strange Non-Profit Dave Farber (Sep 03)