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 NEWS  Federal  Communications  Commission  445  12  th  Street,  S.  W.  Washington,  D.  C.  20554  This  is  an  unofficial  announcement  of  Commission  action.  Release  of  the  full  text  of  a  Commission  order  constitutes  official  action.  See  MCI  v.  FCC.  515  F  2d  385  (D.  C.  Circ  1974).  News  Media  Information  202  /  418-  0500  Internet:  http://  www.  fcc.  gov  TTY:  1-  888-  835-  5322 
 FOR  IMMEDIATE  RELEASE  Contact:  David  Fiske  202-  418-  0513  September  27,  2002  Robin  Pence  202-  418-  0505 
 FCC  TO  CONVENE  EN  BANC  HEARING  OCTOBER  7TH  ON  STEPS  TOWARD  RECOVERY  IN  THE  TELECOMMUNICATIONS  INDUSTRY 
 FCC  Chairman  Michael  K.  Powell  announced  today  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  en  banc  hearing  will  take  place  Monday,  October  7,  2002  from  2:  00  to  4:  00  PM  at  the  headquarters  of  the  Federal  Communications  Commission,  445  12  th  Street,  S.  W., 
 Washington,  DC,  in  the  Commission  Meeting  Room  (Room  TW-  C305). 
 “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. 


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