Ivan Seidenberg Says Policy Must Be Based on Three Major Principles to
Encourage Investment, Innovation and Empower Consumers
WASHINGTON, May 12 /PRNewswire/ -- Telling the Senate Commerce
Committee, "that U.S. telecommunications policy is broken and must be
fixed," Verizon Chairman and CEO Ivan Seidenberg today called on
Congress to enact a major reform to create a new policy for the
broadband era. Seidenberg said that it must be national in scope,
leave pricing to the marketplace rather than regulators, and ensure
common rules for all competitors.
The new policy must be: "One that encourages investment in both
wireline and wireless infrastructure; that puts power in the hands of
consumers, not government; and that permits and even encourages
innovation, rather than trying to force new services into old
regulatory models," Seidenberg said.
He said the policy should be based on three principles that govern other
technology companies, including cable and wireless companies:
-- Provide stability and uniformity across the industry and across the
nation
-- Be free of economic regulation and permit markets to determine prices
-- Common rules for enforcement, technical standards and public safety
where they are needed
Seidenberg pointed out that only a few major telecom companies, led by
Verizon, have both the will and financial resources to invest billions
of dollars to build the infrastructure needed to bring high-speed
broadband networks to the nation. Such investment would restore
"America's leadership in an industry that drives productivity,
stimulates innovation and creates jobs," he said.
However, Seidenberg told the commerce committee, the current
regulatory system imposes costs, injects ambiguity and introduces
bureaucratic red tape into every investment decision involving the
wireline network.
- http://finance.lycos.com/home/news/story.asp?story=41379272