Data security, the way the virtual marketplace is used, and the way our constituents want to have a tool box to protect, as i call it, their virtual you online. So, we appreciate your time, your willingness to be with us this morning, and i yield back to the chair of the committee. Yield back. Gentleman from texas mr. Barton want to use some of that time . Thank you mr. Chairman. Ive served on this committee since 1986. Ive served with three of the four former chairman, mr. Wiley preceded me. Weve had some agreements, weve had some disagreements. So its good to have all four of you gentlemen here today. When i was chairman of the full committee, back in 1996, my commutety introduced a bill we call the coke bill, the communication opportunity promotion enhancement act of 2006. It dealt with national franchising, Net Neutrality, public educational and governmental access, e911 and what we now call void. It passed the house 321101, but it didnt come up for a vote in the senate. I voted fo
[inaudible conversations] [inaudible conversations] take your seats, and our friends in the audience would like to take a seat, we will get going with our hearing. Ill call to order subcommittee on Communications Director technology and thank our witnesses for being here. Subcom for this worst of what will be many hearings as we look to update the king occasions act. K few sectors of our economy ors. Equal to the communications and Technology Sec atorre when it ci to innovation, investment in the american economy, and jobinveste creation. In these tough Economic Times we as policymakers should begh ecoc committed to fostering this economy. Tering of the yet the loss the regular the industry are outdated at besthat and some are affirmatively regul damaging. Indu this is whystry chairman upton b i, along with members of the subcommittee, have decided to undertake the difficult task of updating the key medications act of 1934. Cmunica in the eight decades since itsht Passage Congress have
Chairman, thank you. Speaking of cops on the beat, well now go to michael copps, served as acting chairman of the federal Communications Commission from january to june of 2009, and served as commissioner from 2001 to 2011. Prior to joining the commission, commissioner copps worked right here on capitol hill, and the u. S. Department of commerce. Commissioner copps, chairman copps, thank you for being with us, and we look forward to your comments to round out our panel. Thank you chairman walden, chairman upton, miss eshoo and mr. Waxman, vice chairman, former chairman, all the members of the committee, im delighted to be here. Were here today to review whether the Communications Act needs to be updated or otherwise reformed. Ive heard some say that simply because the act is old it must be obsolete. That no matter how well it has served us an act written 18 years ago cannot have relevance in todays altered world. As someone only a little younger than the original act of 19 34r, i would
As for todays market agenda, there are a number of key economic releases to be watching. At 8 30 this morning, we get weekly jobless claims plus the Producer Price index. Later this morning, theres manufacturing pmi, the philly fed survey and leading economic indicators. In earnings central today, retail is once again the key them this morning. Companies reportsing before the bell include target, dollar tree, Abercrombie Fitch and game stop. Well be watching closely after what we heard about walmart. Andrew, over to you. Thank you, becky. We have Corporate News this morning. The government rejecting fair homes recapitalization proposal of fannie mae and freddie mac. Heres what happened. Obama adviser Gene Sperling arguing the only way to revamp the home loan market is through what he calls proper Housing Finance reform. He didnt directly refer to fair homes proposal, but he did say that the administration cant allow fannie and freddie to be recapitalized in the current corporate form.
Business. With a deal like this, looks like he was a good learner of all this. Well talk much more about this potential deal in just a few minutes. Immediately people are saying apple never paid for a brand, it was always its own brand. Beats, at first i didnt understand it. It was totally overpriced. My kids both have a couple of pairs. Theyre plastic. I dont know whether the sound is better. I know kids want them. I remember a couple of kids were looking at them. I wonder, are those knockoffs, are there real . Theres a cache around it. Theres the music business. Thats fledgling. Thats what apple really wants. For a couple of years, downloading itunes was growing and growing. Now its down 6 or something, yearoveryear for those tunes. I was amazed that sales of beats is like 1. 2 billion in revenue. I was thinking about that. Everybody who wants a pair has them. But they break. At least the ones my kids have had, that weve had to replace. If you drop them. 3 billion, 1. 2 billion in sa