Thank you for the opportunity to address you at what is a critical moment for the future of internet. More than anything else, the action that you take today will preserve the permissionless invasion invasion. Let me explain. The web was invented 25 years ago. To people and let them run on computers which were connected to the internet. All that was necessary for those computers were plugged in to internet. They were then communicating. Didnt have to ask anybodys permission. Frome1 this, the worldwide web spread to reach all the corners of the global and connected world, enabling hundreds of billions of dollars of Economic Growth and enhanced free speech and democracy around the world. Didnt have to get permission from anybody to introduce a thing. I didnt have to pay isp and special fees. I didnt have to convince c should be let through. If it would be good for their business. I didnt have to worry they would block it because it was compete competing with the businesses they have. So,
Broad gains become less to pointless ovation in fewer options for consumers. Put simply the plan to regulate the internet is not the solution to the problem. His plan is a problem. This order impose is intrusive regulation that will solve problems headon exist using Legal Authority the sec does not have. Accordingly i dissent. The commissions decision to adopt the president s plan marks a monumental shift to government control of the internet. Eight gives the fcc the power to micromanage every aspect of how it works this overreach to leave their washington bureaucracy not the people decide a future of the online world. One facet of that control is rate regulation for the first time the fcc will regulate the rates by as peas may charge and will set a price at zero for certain commercial arrangements. It goes out of its way from section two 01 authorization of rate authorization express the invites them to file complaints with the commission. A Government Agency deciding if a rate is law
This point. Lets tell you about the big stories were watching this morning. A First Quarter read on the First Quarter gdp at 8 30 eastern time. Forecasters say the economy likely grew at a snails pace. Also the fed wrapping up its twoday policy setting meeting in washington. Announcement set for 2 00 p. M. Eastern time. No changses expected on rates just yet. Beyond the economy theres also a busy day in earnings central. We have Companies Set to post this morning before the bell mastercard mondelez and general dynamics. Also were continuing to watch the situation in baltimore. Things were quiter there. Demonstrators for mostly peaceful. Less than a dozen arrests compared to more than 200 on monday. Curfew ended at 5 00 this morning. Go back into effect tonight and we should tell you that todays baltimore airlines game will be in the afternoon and will be closed to the public. The teams weekend series against the rays will be played in tampa instead of home in baltimore. The next five g
Chairman, and thank you, mr. Wheeler for your long and dedicated role, and i know it is often thankless. While opinions differ, your dedication is appropriated. Chair wheeler sir, i recognize your badge, and thank you. Rep. Russell thank you. You stated earlier today that it you came to an evolutionary decision because you determined it was reasonable for isps, but not reasonable for consumers with this ruling. Is it not true that federal taxes could be applied to consumers where it was once prohibited . Chair wheeler that is in the hands of congress. The tax freedom act specifically, the freedom of information act prohibits specifically that and whether that has changed is outside rep. Russell but from an Informational Service to a communication service, does it not lay the foundation for consumers being taxed. Chair wheeler again, that is going to be your decision and not mine. Rep. Russell was it possible when it was just an Information Service outside of title ii . Chair wheeler In
10year note. We hear that miners are dragging down the ftse. Data from china was showing a slowdown in Services Sector growth. In germany, manufacturing orders below expectations, falling in august. That was the second consecutive month that we saw them. That surprised me. Lets get to our road map. Schultz is urging fellow ceos to turn up the heat. And jcpenney said its seeing signs of a turn around or that its strategy is working. And the long goodbye. Were going to read you excerpts from Steve Ballmers letter. Its a goodbye now. The Government Shutdown and the debt limit battle also now dominating wall streets attention. President obama continues to call on the thousands vote immediately on ending the shut down. House Speaker John Boehner still insisting the government agree to talk about changes in Health Care Reform or the obama care law as its known and also broader budget issues. This is now were nine days away from the debt ceiling deadline. This morning the journal after a conf