[BC] FM auctions

[Fred Morton]

True...however, as the old saying goes, "A fool and his money are soon 
parted". There was a lot of good money thrown at bad allocations. I did a 
fairly extensive search through the channels before the first FM auction 
which was what now, two years ago? There were several allocations which 
couldn't work-they were shortspaced to others, or reference coordinates on a 
mountain or in the middle of a lake-in other words, unbuildable.

The folks that did get a bunch of these thought they'd take their CPs to a 
broker and double, triple, quadruple their money for no effort.

I imagine they're crying now, and I wonder how easy it would be to pick up 
those CPs in about 2 1/2 years after they're granted!

Fred Morton
Houston
----- Original Message ----- 
From: "Dennis Cope" <dcope at intercom.net>
To: "Broadcasters' Mailing List" <broadcast at radiolists.net>
Sent: Saturday, January 14, 2006 9:08 AM
Subject: RE: [BC] FM auctions


> You think you got a gripe, I found I was outbid by a shadow company owned 
> in
> part by an FCC lawyer. He is a minority owner, his wife owned 51% of the
> stock..
>
> The little guy does not stand a chance anymore...
>
> So now what I will do is wait for the station to bleed to death and maybe
> pick it up for a better price..
>
> It's not about serving the community anymore, just the money...
>
> Dennis
> WESR, WCTG
>
>
>
>
>>>I bid for a while last year. I'm not playing this year. I watched
> questionable CP's sell for more than what I paid for a built-out combo ten
> years ago.
>
> I see the same thing on Ebay.  People jack the price up on something 
> because
> they MUST have it.  In fact, I don't see why the FCC doesn't just turn 
> over
> this auction process to Ebay.  It makes no sense to me.  Like Dana said, 
> you
> can spend hundreds of thousands of dollars doing the studies to get a
> frequency allocated just to have the FCC turn around and put it up for
> auction (years later) where you will most likely be shut out of the 
> bidding
> because a shadow company from one of the bigger players bids the price up 
> to
> more than it's worth.  There's a frequency in my hometown of Vienna 
> Georgia
> that's up for auction.  The starting bid is $40,000.  Add that to the 
> start
> up costs, and factor in the fact that the area isn't a hot market for 
> sales,
> and you will be years earning back the money to pay it all off.  it's not
> worth it for a little guy like me who's looking for his first ownership
> opportunity.  I'd like to see a 75% discount for the person who get the
> frequency allocated in the first place.  But like others have said, that's
> not gonna happen.
>
> Scott Cason
> LaGrange Communications, LLC
> 502-213-0024
> www.lagrange-com.com
>
>
>
>
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