New York has cash once more. What’s this imply for New Yorkers?

Eighteen months ago, the New York State economy seemed to be on the brink of collapse. The COVID-19 pandemic resulted in state officials closing down stores, which in turn cut millions of jobs.

But the frozen economy has started its summer thaw. And New York has an additional $ 2.1 billion in revenue projected each year for the next four years.

This money comes after the federal government sent billions of dollars to state governments. It also comes after state lawmakers increased taxes for upper-income earners this year.

So what does this mean for most New Yorkers, the bottom line? It’s a potentially thriving economic outlook for the state, even if it’s a sign that many tax hikes weren’t strictly necessary, according to the PBC’s Patrick Orecki.

In a Capital Tonight interview Thursday, Orecki set out what the budget news means to the average New Yorker, whether the state’s spending is sustainable, and whether the tax hikes are forcing the rich to leave the state.

What’s Coming Up on Cash & Markets + Lululemon Earnings Preview

Money and Market Economy Week Week of September 6, 2021: The financial markets are closed on Mondays, but there is still a lot to add to the calendar.

We will continue to be busy with Money & Market. I’d love to preview some of the upcoming content that I don’t want to miss. We’ll also tell you what to expect from Lululemon Athletica’s earnings and what to see in a post-COVID-19 job market report.

come money & market

Here Are Some Sneak Peaks Money & Market The Content You Can Expect Last Week.

Monday: It’s a holiday for the financial markets and our team. But we’re trying something new. You will find an email in your inbox with details about the first competition. It’s your chance to win money and market equipment, and I’ll give you one tip: improve your stock valuation skills in the green zone here..

Tuesday: Green Zone Fortune co-editor Charles Sizemore is considering your retirement. Big news fell from Social Security last week. Charles has some tips on how to make sure your nest egg is in good shape going forward.

Thursday: Research analyst Matt Clark enjoys talking about our cannabis stock Youtube channel.. In a live chat on Thursday you will have the opportunity to ask questions about the cannabis industry. Get ready for your question and join Matt at 4:00 p.m. EST.

Deeper Insight: Lululemon Income

Beyond the high-earnings season, there are still a few notable companies to report quarterly figures for the next few days.

Lululemon Athletica Inc. (Nasdaq: Lulu). I will report the income on Wednesday.

A popular sports and casual wear company has become a pandemic darling as people work and exercise at home. LULU’s share price has risen 135% from its March 2020 lows.

And that success resulted in a number of revenue and sales blows.

Earnings per share (EPS) are reported to have increased $ 1.16, 27.5% higher than analysts expected, in Lululemon’s latest earnings call for the quarter ending April 2021.

Looking back, Lululemon has seen sales jump nine of the last ten quarters, the only problem being the onset of the COVID-19 pandemic in spring 2020.

Lululemon’s sales fell sharply at the start of the pandemic, but sales steadily recovered through the second half of 2020, almost doubling from the second quarter to the fourth quarter of 2020.

Lululemon reported that online sales accounted for 44% of sales in the first quarter of 2021, compared to 54% in the year-ago quarter. As a result, total store sales increased 55% compared to the previous year. -The mortar site has reopened.

slim: Analysts are forecasting EPS growth of $ 1.18 for LULU in the second quarter and revenue of $ 1.33 billion in 2021, which I believe will once again beat that number.

Companies that focused on selling online during the pandemic flourished. I’ve seen it at traditional retailers like Walmart and Target, but it’s the same at small businesses like Lululemon.

With consumers wrestling with the COVID-19 delta variant, it will be interesting to see how that trend unfolds as the holiday season approaches.

Data dump: USJOLT jobs

A healthy labor market equals a healthy economy.

The Job and Sales Survey (JOLT) provides insights into the state of the labor market and the Bureau of Labor Statistics will publish the results of the July survey on Thursday.

JOLT uses three criteria to define a job. There is a position, the position can be opened within 30 days and the company is actively hiring the position. The JOLT survey also reports on employment and turnover (layoffs, retirement, etc.) so it provides a relatively broad view of the labor market.

There were 10.1 million jobs end of June, Series up.

There are enough jobs

Employment also rose 4.6% to 6.7 million in June, increasing retail, state and local government, education, and consumer durables manufacturing. The separation also increased slightly to 5.6 million.

Overall, there was a net increase of 6.9 million employees in the 12 months to June.

slim: Economists forecast 9.28 million jobs in July. That’s well below the June numbers, but I think it’s easy to beat.

Over the next few months, this data should reflect the effects of the COVID-19 delta variant. The federal unemployment benefit set by the CARE law in 2020 will also expire on Monday.

Sales report

Finally, Money & Markets Week Ahead, let’s take a look at some of the keys here revenue Report this week:

Monday

Uxin Ltd. (Nasdaq: UXIN).

Agraflora Organics International Inc. (OTC: AGFAF).

Tuesday

Caseys General Stores Inc. (Nasdaq: CASY).

Dada Nexus Ltd. (Nasdaq: chest).

Wednesday

Lululemon Athletica Inc. (Nasdaq: Lulu).

GameStop Corp. (NYSE: GME).

RH (NYSE: NS).

Thursday

Sun Hung Kai Properties Co., Ltd. (OTC: SUHJY).

Affirm Holdings Inc. (Nasdaq: AFRM).

National Beverage Corp. (Nasdaq: FIZZ).

Academy Sports Outdoors Inc. (Nasdaq: Yes sir).

Friday

Ellaktor SA ADR (OTC: ELLKY).

Number one,

Chadstone

Assistant Managing Editor, Money & Market

What’s Up for Money & Markets + Lululemon Yield Forecast Source link What’s Up for Money & Markets + Lululemon Yield Forecast

$18 billion retailer Fanatics prepares for IPO — here is what’s subsequent for the corporate

Fanatics Founder / Executive Chairman Michael Rubin attends the Fanatics Super Bowl Party at the College Football Hall of Fame on February 2, 2019 in Atlanta, Georgia.

Mike Coppola | Getty Images

Sports merchandising company Fanatics shocked the sports world last month after securing trading card rights to Major League Baseball, the National Football League and the National Basketball Association.

Especially Fanatics’ deal with MLB ended the league’s decades-long partnership with Topps and possibly caused the end of Topps’ plans to use a SPAC Mudrick Capital Acquisition Corp. II. It also sent Topps owners and former Disney CEO Michael Eisner back to the drawing board for reflection the next train – if there is one.

Panini, which had the NFL trading card license since 2016 and the NBA license since 2009, is also losing the rights to Fanatics.

The series of deals shows how Fanatics, under CEO Michael Rubin, plans to expand beyond sportswear into collectibles, sports betting and even broadcasting games. It has already attracted well-known investors like Jay-Z to come with his $ 18 billion private valuation before an expected IPO.

Here you can find out how Fanatics landed the partnerships and what this means for the future of the company.

Fanatics add another piece to the puzzle

Rubin’s move ends some historic sports partnerships that the NBA has already proven not to be set in stone. In May 2020, the NBA has dropped basketball maker Spalding, a partner for more than 30 years and associated with Wilson to make its basketballs.

Sports leagues like Fanatics’ moat around its products, and the company is already affiliated with most leagues and teams to make soft goods and hard goods, including sports jerseys. The pandemic forced all leagues to review deals to maximize profits after suffering significant losses. Fanatics also had to rethink their business as live sporting events were suspended at the start of the pandemic.

According to people familiar with Fanatics’ plans, the company considered expanding last summer to add more pillars to its operations. Fanatics already dominates vertical and e-commerce in sports, mostly with all of its MLB rights. But it also saw an opportunity in the trading card market.

Fanatics declined to comment on this story.

Topps trading cards are arranged for a photo in Richmond, Virginia.

Jay Paul | Bloomberg | Getty Images

The business with sports trading cards should reach $ 98.7 billion by 2027, according to Verified Market Research. In 2021 the industry was particularly active, with a 1914 baseball card from Babe Ruth to set a record. Even Luka Doncic’s rookie card set an auction record.

Entering the trading cards business is also in line with Fanatics’ plans to build its name in the NFT collectibles space via Candy Digital. To secure the new deals, Fanatics provided the leagues and player unions with equity capital that is guaranteed to generate at least 1 billion US dollars in sales over the duration of the partnerships. Leagues have no equity in their current trading card company dealings.

Fanatics’ plan for the physical trading card space is to expand it by opening up the market to take greater advantage of it through direct offers to consumers, according to those familiar with the matter. For example, when collectors buy a trading card, they can insure, value, store, and even offer the asset for sale or barter on a marketplace – all through Fanatics. The company would likely charge transaction fees, and leagues will also get valuable data they crave.

Speculation on Wall Street suggests Fanatics will also try to buy one of the trading card companies. Panini is valued at $ 1.3 billion, according to PitchBook, and there are other companies, Upper Deck and Leaf Trading Cards based in Texas.

The competition’s takeover would be similar to a takeover Fanatics completed when it bought it in 2017 VF Corp ‘s licensed sports group for approximately $ 225 million. That deal included the Majestic Athletic brand and came right after Fanatics took over the MLB apparel rights from Majestic.

Robert Kraft, Jay-Z and Mike Rubin attend Michael Rubin’s Fanatics Super Bowl Party at the Loews Miami Beach Hotel on February 01, 2020 in Miami Beach, Florida.

Kevin Mazur | Getty Images

Still business on the table

Fanatics also wants to be valued in the $ 40 billion American online gambling room through sports betting, sources said.

The company did Headlines according to plans, the entry into the New York sports betting market arose. Fanatics feels it can bring its 80 million user base tied to its sports merchandising company to a sports betting offering. If it works, Fanatics can lure Sportwetter to its platform and combine offers from its merchandise catalog as a reward for customer loyalty.

But fanatics have to buy an established sportsbook to enter the room.

Industry talks connected Fanatics and online casino operator Rush Street Interactive, which operates sports betting through its SugarHouse property. But sources told CNBC that Fanatics was not interested in the takeover. Rush Street is traded under the ticker on the New York Stock Exchange RSI symbol and has a market capitalization of $ 2.6 billion. Rush Street declined to comment.

It’s unclear who Fanatics is targeting, but it will have to show its hand on that front at some point as sports betting laws require.

Rubin’s company has made no secret of being a global powerhouse with various offers in the digital world. Fanatics wants to participate in sports media rights, games of chance, revised ticket models, memorabilia, NFTs and now also trading cards.

And while business goes on, an IPO awaits.

In sports betting circles, it is not a question of whether but when fanatics go public. Fanatics scored his $ 18 billion Evaluation after taking up additional funds. It also starts a China operation after a Investment from entertainer Jay-Z. MLB and NFL were already partners, and SoftBank gave Fanatics cash from its $ 93 billion Vision fund.

Barrett Daniels, a partner at global accounting firm Deloitte, said that companies similar to positioning Fanatics and securing big deals typically seek public offers sooner rather than later.

Daniels, who serves as Deloitte’s national IPO co-leader and heads the SPAC Western region, said companies with status like Fanatics have decided to go public to “reward and share in this success to be able to. This is a big driver and an important piece of the puzzle. And there are some companies that feel they are the dominant player in their field, they need to be public. “

Though an IPO might be involved, Daniels added that staying private is no longer as taboo as it used to be.

“You used to go public when you hit about a billion dollars, but these days there doesn’t seem to be a limit,” Daniels said. “Companies keep getting bigger in the private market and staying private. And there is still a lot of money in the private markets.”

Arts Are Important | What’s Taking place in Arts & Leisure Could 28 – June 4 | The South Pasadenan

PHOTO: courtesy of the artist | South Pasadena News | “The Super Villainz” Dormeshia, Jason and Derick in the performance

Live performances return to The music center For the first time in 14 months! The music center is pioneering the reopening of the performing arts complex and is launching its new outdoor dance series. Dance at dusk. Under all LA County Public Health guidelines, the music center’s Dance at Dusk begins with the debut of “The Super Villainz: A tap dance act for the modern age” with international top hoofers Dormeshia, Jason Samuels Smith and Derick K. Grant (May 26th to 30th, 2021). The artists will perform on a new outdoor stage at Jerry Moss Plaza and guests will be seated in socially distant pods. As the number of tickets is limited, the performance will be streamed free of charge to the public on Sunday evening musiccenter.org.

PHOTO: Will Yang | The music center is opening the Super Villainz Tap Dance Park this week so everyone can enjoy the art of tap dancing.

The Music Center’s Jerry Moss Plaza is becoming the Super Villainz Tap Dance Park! The audience is invited to create their own personal beat with their feet. Guests can dance outdoors using five different types of tap boards, creating a new and unique dance playground. Tap guides, obtained from local tap schools, will be available to deepen the Tap Park experience for attendees. Timed participation in The Super Villainz Tap Dance Park must be reserved in advance. Free reservations for a 30 minute experience are available at musiccenter.org/tapdancepark. * Free parking spaces in lot 14 (garage of the main music center) for tap dance participants with reservation. Until Sunday, May 30th: 8 a.m. to 4 p.m.

The Door’s Geffen Stayhouse Production You’ve Never Seen Before: A Picky Musical. Artwork by Shawn Lee.

Geffen Playhouse the gifts “The Door You’ve Never Seen Before: A Picky Musical”. Part musical, part adventurous, this inventive new piece is designed to take frustrated quarantined kids on an incredibly fun journey. After entering a door they have never seen before, the kids must save a distant city from a villain known only as “The Stench”. Children receive a suitcase full of surprises to make their search easier and they can choose where their Zoom story takes them. Full of musical whims and quirky characters, this show is sure to delight kids and parents alike. The children are given a suitcase with puzzles and special items that they will interact with during the show. For households with multiple children, additional suitcases can be purchased for $ 25 each. All cases are sent together in one box. The shipping box can be opened, but the case may only be opened when instructed during the exhibition.

The door you’ve never seen before. Courtesy Geffen Playhouse.

Regular tickets currently cost $ 55.00 per household. Additional adventure cases can be purchased for an additional $ 25 each. Family-only / friend-only tickets for separate households are available for $ 30 each and must be purchased with a regular family household ticket. Available by phone at 310.208.2028 or online at www.geffenplayhouse.org. Recommended for children aged 6 to 9.

PHOTO: Joan Marcus | South Pasadena News | Hamilton National Tour with Joanna A. Jones, Sabrina Sloan and Taylor Iman Jones.

Great news for LA theatergoers! HAMILTON will begin appearances at Hollywood Pantages Theater on August 17, 2021. The start of these performances officially marks the end of a 17-month hiatus that began on the original production start date, March 12, 2020. Tickets are available now for all performances between August 17, 2021 and January 2, 2022. There is a maximum purchase limit of eight (8) tickets per household for the engagement. When tickets go on sale, prices range from $ 55 to $ 195 with a select number of rewards ranging from $ 369. There will be a lottery for a limited number of USD 10 orchestra seats for all performances. Tickets can be bought at www.BroadwayInHollywood.com/HamiltonLA and www.Ticketmaster.comor by phone at (800) 982-2787. The Hollywood Pantages Theater Box Office is currently closed. To inquire about groups of 10 or more, visit www.BroadwayInHollywood.com/Groups.

Says producer Jeffrey Seller, “We are very excited to welcome the audience back to Los Angeles Hamilton. After pausing the performances on the eve of our return over a year ago, we are grateful that we can move our cast, musicians and crew back to the great and safe Hollywood Pantages Theater. Jeff Loeb, general manager of Hollywood Pantages Theater & Broadway in Hollywood, said, “After holding our curtain for 523 days, Broadway is returning to Hollywood and we can’t think of a bigger celebration than Hamilton at the Hollywood Pantages Theater organize. Our staff have worked hard over the past 14 months to ensure that our community of theater-goers, actors, stage workers and ushers can return safely and sit shoulder to shoulder in our large auditorium. Under the guidance of the LA County Department of Public Health, we are planning 100% utilization. While neither of us can perfectly predict the future, the county has been a fantastic partner helping us prepare for our successful reopening. As we all emerge from the challenges of the past year, we look forward to welcoming everyone back to The Room Where it Happens. “

HAMILTON ” is the story of America’s founding father, Alexander Hamilton, a West Indian immigrant who became George Washington’s right-hand man during the Revolutionary War and was the new nation’s first Treasury Secretary. With a score that combines hip-hop, jazz, blues, rap, R&B and Broadway, “HAMILTON ” is the story of America then as it is told by America today.

PHOTO: Craig Schwartz | South Pasadena News | A scene from Alice in Wonderland on A Noise Within

A sound inside will be releasing his second high-quality film from a stage production this week: “Alice in Wonderland”and assembles the popular production from spring 2020 – written by Eva Le Gallienne and Florida Friebus and originally staged and designed by Stephanie Shroyer. ‘Alice in Wonderland’ will be available to people buying tickets for May 27th from May 27th to June 20th with a special opening Zoom after party with the artists. From home, viewers can enjoy the same artistic and productive elements as when ANW performed live.

Join Alice on her crazy adventure through the mirror into a perverted magical dreamland, where fantasy defies reality and madness makes logic. Lewis Carroll’s broken fairy tale, weaving a whimsical poem of fun and colorful eccentrics, creates a prism through which we can relive the mystery and bubbling wonder of growing up. Tickets are $ 25 for individuals and $ 40 for a family. Opening tickets with a Zoom after party with the artists are $ 50 for individuals and $ 75 for families. Tickets are available from anoisewithin.org.

Cash Market Vs. Capital Market: What is the Distinction?

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There are two ways to deal with wealth: keep what you have or increase it.

Which path to choose can be confusing. And lately, investors have been nervous because of Reports of rising inflation.

Where you can put your money depends on two components of the financial market: that Money market or the Capital market.

The Money market and the Capital market are two major components of the global financial market in which the funds invested are used for short-term or long-term loans and credits.

Here are the key differences between them and advice to help you navigate where to invest.

Money market overview

“The term ‘Money market“Applies to high quality short-term debt securities that mature within a year,” he says Robert Johnson, Professor of Finance at Heider College of Business at Creighton University and co-author of “Investment banking for dummies. “They are known to have a low return but are considered safe.

Pro tip

If you need money for a planned expense within a year, e.g. B. a down payment on a house, keep it in the money market.

These debt instruments include:

  • US Treasury Bills, sometimes referred to as T-bills, is a short-term US Treasury note. The public can buy a T-bill and essentially act as a lender to the US government. The Treasury Department will repay the buyer with interest on a specified due date.
  • Certificates of depositt, offered by banks and brokerage firms where you can deposit money for a period of time in order to receive interest.
  • Commercial paper, This is basically a corporate IOU. The company issues an unsecured note that it promises to repay with interest on the due date.

Capital market overview

The Capital market is a way of increasing in value over time with longer-term assets with a maturity greater than a year. This includes stocks and bonds.

Main differences: money market vs. capital market

The money market and the capital market work differently and tend to appeal to different types of investors.

The risk averse investor Worried about losing money. This investor will be more comfortable with the internet Money market because they get the money they have, even if they get a modest return on their investment.

The short term investor needs money in the short term – within a year. While this is often mentioned in relation to closeness to retirement age, there are other reasons you may need cash soon, says Riley Adams, CPA, senior financial analyst at Google and owner of the personal finance blog Young and the invested. You might be saving for a new car, house, or college. Whenever you need the money soon, your number one priority is keeping it – and giving preference to the safety of the Money market.

The risk tolerant investor understands that risk is the price you pay for the potential for great reward and seeks the potential for higher profit offered by the Capital market.

The long-term investor has a long time horizon so that you can invest in that Capital market. When stocks fall, these long-term investors can make up for losses over time.

Comparison of money market and capital market

From an investor’s point of view, “the main difference is the Money market is short-term, very safe and very fluid, ”says Adams. comparison of Money market and the Capital market Point by point can help you understand why the money brandt may be the preferred choice for a short term investment need and how it differs from a Capital market Investment like Buy stocks.

This diagram can help you conceptualize the formats, pros and cons of these two financial markets.

reference point Money market Capital market
Examples Certificates of deposit (CD), Treasury bills, commercial paper Stocks and bonds
Duration Short term (1 year or less) Long term (longer than 1 year)
Investment objective Preserve prosperity Create wealth
Risk level Low High
Degree of volatility Low High
liquidity High Low

Which is a better investment?

The best place to invest “depends on your goal and your time horizon,” says Johnson. For investors with a long time horizon, such as savings of twenty years for retirement, the Capital market is the better choice. A Large-cap index funds is a good start for these investors, recommends Johnson.

“If you need the money in a year or two, it’s best to just put it in Money market because of this volatility, ”recommends Johnson. The Money market is a lower risk. “People who are in the Money market can sleep well. There is very little volatility but very little growth, ”says Johnson.

Those in need of the money soon will be motivated to maintain wealth rather than amassing it. You wouldn’t put any money you saved on a down payment on the exchange (Capital market) because there is a chance it will fall into a correction and you will no longer be able to afford your dream home. With a Money market Investment, your down payment wouldn’t grow very much – but it wouldn’t evaporate due to market volatility so you can rest assured it’s there when you’re ready to make that offer.

Conversely, “this Capital market Investors can have some sleepless nights as the market corrects, ”said Johnson. However, despite the risk, those who invest in the Capital market can be better rewarded than the money market if they wait.

“If you’re looking for a long-term situation like retirement, you want it to be in a year Capital investment“Explains Adams. The time will come, however, when you need to move this money Capital market Investing in Money market Investments. “When you’re nearing an important buying decision that needs the money you have, you want a transition from that Capital market to the Money market because that guarantees your money is there, ”says Adams.

Since 1926 the S & P 500 – a Capital market – is up 10.3% annually, says Johnson. On average, the statistical fact that there are good and bad years is hidden. Investors with a long time horizon can generally take advantage of the banner years when stocks grow more than 10% to make up for the years when they fall below.

What’s New In 5G – April 2021 – Media, Telecoms, IT, Leisure

United States:

What’s New In 5G – April 2021

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The next-generation of wireless technologies – known as 5G – is
here. Not only is it expected to offer network speeds that are up
to 100 times faster than 4G LTE and reduce latency to nearly zero,
it will allow networks to handle 100 times the number of connected
devices, revolutionizing business and consumer connectivity and
enabling the “Internet of Things.” Leading policymakers –
federal regulators and legislators – are making it a top priority
to ensure that the wireless industry has the tools it needs to
maintain U.S. leadership in commercial 5G deployments. This blog
provides monthly updates on FCC actions and Congressional efforts
to win the race to 5G.

Regulatory Actions and Initiatives

Mid-Band Spectrum

  • The FCC takes additional action on
    Tribal entities’ requests to use spectrum in the 2.5 GHz band.

    • The FCC released an Order on March 11, 2021, granting two requests
      for waiver filed by the Turtle Mountain Band of Chippewa Indians
      regarding the definition of eligible Tribal lands for purposes of
      applying for 2.5 GHz band spectrum in the Rural Tribal Priority
      Window. Grant of the waivers will allow the Tribe to obtain 2.5 GHz
      licenses for trust lands in Roulette County, North Dakota, that are
      largely adjacent to the Tribe’s reservation and non-reservation
      trust lands around Trenton, North Dakota.
    • That same day, the FCC made publicly
      available a grant (from August 2020) of emergency special temporary
      authority to the Confederated Salish and Kootenai Tribes of the
      Flathead Nation
      to operate on unassigned 2.5 GHz spectrum
      during the COVID-19 pandemic.
    • In addition, on March 30, 2021, the
      FCC released three Orders granting additional requests for waiver
      related to the definition of Tribal lands. Grant of the waiver
      request to the Passamaquoddy Tribe will allow it to obtain
      a 2.5 GHz license for approximately 94,000 acres of trust lands
      that fall outside of the Tribe’s Pleasant Point and Indian
      Township reservations. Grant of the waiver request to the Middletown Rancheria of Pomo Indians of
      California
      will allow it to obtain a license for several
      parcels of fee lands owned by the Tribe that are adjacent to and
      near its reservation in Northern California. And grant of the
      waiver request to the Squaxin Island Tribe will allow it to
      provide service for several parcels of trust land in the Mason
      County and Thurston County, Washington, region, some of which are
      immediately adjacent to the Tribe’s reservation.
  • The FCC grants the first
    authorizations for mid-band spectrum to provide 5G services and
    prepares the band for commercial operations.

    • On March 12, 2021, the FCC released a
      Public Notice announcing the grant of
      applications for licenses in the 3.5 GHz band. A subsequent Public Notice with additional grants was also
      released on March 26, 2021. The auction, the first of mid-band
      spectrum to support next-generation 5G services, concluded in
      September 2020 and has been touted by FCC Acting Chairwoman Rosenworcel as
      “demonstrat[ing] US leadership in spectrum
      innovation.”
    • Relatedly, on March 9, 2021, the FCC
      released a Public Notice certifying Key Bridge as a
      Spectrum Access System for the 3.5 GHz band, which, among others,
      will coordinate use of the band. FCC Acting Chairwoman Rosenworcel
      applauded the certification and the progress
      made on the 3.5 GHz spectrum sharing regime, noting that “[i]t
      is exciting to see the rapid rise of the FCC’s Citizens
      Broadband Radio Service” and “[w]e are making history
      with this innovative band.”
    • On March 29, 2021, the FCC issued a
      Public Notice seeking comment on a Request for Partial Waiver submitted by the
      National Football League regarding the use of Citizen Broadband
      Radio Service (“CBRS”) devices. The NFL seeks authority
      to operate General Authorized Access CBRS units without connecting
      to a Spectrum Access System, in the event the team loses an
      Internet connection. Comments are due April 8, 2021, and reply
      comments are due April 15, 2021.
  • The FCC adopts rules that make
    spectrum in the 3.45-3.55 GHz band available for commercial
    services and seeks input on an auction of that spectrum.

    • On March 17, 2021, the FCC adopted an
      Order that makes 100 megahertz of spectrum in
      the 3.45-3.55 GHz band available for full-power commercial wireless
      services across the contiguous United States, while also ensuring
      that existing federal users can have access to the spectrum on a
      protected basis where and when they need it. In contrast to the draft Order that was released, the final
      Order, among other things, adopts 10-megahertz blocks for the band
      to promote wider participation in the auction of the spectrum.
    • On the same day, the FCC adopted a Public Notice that seeks comment on the
      procedures to be used for the auction of the 3.45-3.55 GHz band and
      proposes to commence bidding in early October 2021, consistent with
      its statutory objective to auction the spectrum by December 31,
      2021. The Public Notice generally proposes auction procedures that
      are consistent with those that have been used in recent FCC
      spectrum auctions. Comments on the Public Notice are due April 14,
      2021, and reply comments are due April 29, 2021.

High-Band Spectrum

  • The FCC grants an extension for
    public input on reallocating spectrum in the 12 GHz band for
    commercial wireless use.

    • On March 29, 2021, the FCC released
      an Order granting the Computer &
      Communications Industry Association, INCOMPAS, Open Technology
      Institute at New America, and Public Knowledge’s request for a
      30-day extension of the comment deadlines for the Notice of Proposed Rulemaking, which seeks
      comment on adding a new or expanded terrestrial mobile allocation
      to the 12.2-12.7 GHz (the “12 GHz”) band. The band is
      currently used for Direct Broadcast Satellite service,
      Multi-Channel Video and Data Distribution Service, and Fixed
      Satellite Service (space-to-Earth) limited to non-geostationary
      orbit systems. Comments and reply comments are now due May 7, 2021
      and June 7, 2021, respectively.

5G Networks and Infrastructure

  • The FCC announces a list of equipment
    and services that pose a national security risk to U.S.
    communications networks and provides preliminary cost estimates for
    removal and replacement.

    • The FCC released a Public Notice on March 12, 2021, announcing the
      publication of its “Covered List” of equipment and
      services that are deemed to pose an unacceptable risk to the
      national security of the United States. The list, which is attached
      as an appendix to the Public Notice and is available on the
      FCC’s website, includes certain equipment or services
      produced by the following entities, as well as their subsidiaries
      and affiliates: (1) Huawei Technologies Company, (2) ZTE
      Corporation, (3) Hytera Communications Corporation, (4) Hangzhou
      Hikvision Digital Technology Company, and (5) Dahua Technology
      Company. FCC Acting Chairwoman Rosenworcel explained that “[t]his list is a big step
      toward restoring trust in our communications networks” and
      “provides meaningful guidance that will ensure that as
      next-generation networks are built across the country, they do not
      repeat the mistakes of the past or use equipment or services that
      will pose a threat to U.S. national security or the security and
      safety of Americans.”
    • On March 25, 2021, the FCC released a
      Public Notice seeking comment on a Supply Chain
      Reimbursement Program Study and a preliminary Catalog of Eligible
      Expenses and Estimated Costs that will inform the FCC’s
      reimbursement program for providers that are required to remove
      equipment and services that pose a national security risk from
      their networks. The Public Notice also seeks comment on a
      preliminary List of Categories of Suggested Replacement Equipment
      and Services to aid with the replacement of covered equipment and
      services. Comments on all three documents are due April 26,
      2021.
    • FCC Commissioner Carr recently called for further action to address the
      threats posed by China by closing a security loophole that allows
      insecure devices to continue to be used in U.S. networks.
      Specifically, the FCC’s rules prohibit companies from
      purchasing suspect equipment using federal funds, known as
      Universal Service Funds, but does not prohibit them from using
      private funds to purchase and use that exact same
      equipment. He also called for the FCC to take action to ensure that
      devices made with forced labor do not enter the U.S. market.
  • The FCC solicits feedback on Open RAN
    networks.

    • On March 17, 2021, the FCC adopted a
      Notice of Inquiry (“NOI”) that seeks
      input on the current status and deployment of Open Radio Access
      Networks (“Open RAN”), which some parties assert are a
      potential path to drive 5G innovation, and virtualized network
      environments, domestically and internationally. Comments on the NOI
      are due April 28, 2021, and reply comments are due May 28,
      2021.

Other Spectrum and Infrastructure Matters

  • FCC Commissioner Carr suggests a
    roadmap for extending U.S. leadership in 5G.

    • At an event hosted by the American
      Enterprise Institute, FCC Commissioner Carr announced his 5G agenda, including plans on
      spectrum and infrastructure reforms. According to an FCC News Release issued on March 15, 2021, that
      plan includes auctions of spectrum in the 3.45 GHz and 2.5 GHz
      bands in 2021, allowing low-power operations in the 6 GHz band, and
      seeking comment on increasing the power levels for the 3.5 GHz band
      (see above). It also aims to auction additional spectrum in 2022
      and beyond in the 1300-1350 MHz, 42 GHz, and lower 3 GHz, 4.8 GHz,
      and 7 GHz bands.
    • With respect to infrastructure, the
      plan aims to produce updated broadband maps this year (the FCC recently announced broadband data will be collected
      directly from consumers), commence an auction of 5G Fund support next year, act on pending
      infrastructure reforms to drive down the costs of reaching rural
      areas, and expand tower crews needed to complete 5G builds through
      Commissioner Carr’s 5G jobs initiative, among other things.

In the Courts

  • T-Mobile West LLC v. City and
    County of San Francisco

    • On March 18, 2021, the federal
      District Court for the Northern District of California granted
      T-Mobile a significant victory over the City and County of San
      Francisco in T-Mobile’s challenge to the City’s failure to
      timely act on T-Mobile’s site modification applications under
      Section 6409 of the Spectrum Act, 47 U.S.C. § 1455(a) and the
      FCC’s Rules. T-Mobile filed the action after the City failed to
      act on multiple T-Mobile applications to modify existing wireless
      sites within the 60 days required by FCC rules, and T-Mobile
      notified the City that a series of applications were deemed granted
      under the FCC rules. Then, as allowed by the FCC’s rules,
      T-Mobile filed in federal court asking the Court to issue a
      declaratory judgment that the deemed granted notices were
      enforceable, and also asking the Court to order the City to issue
      permits to formalize the legal status of the applications. T-Mobile
      moved for a preliminary injunction and summary judgment.
    • The City opposed T-Mobile’s
      action, arguing that the Tenth Amendment prohibited Congress and
      the Court from ordering the City to take any action.
    • In its Order, the Court grants
      T-Mobile summary judgment on its Section 6409 claim, recognizing
      that T-Mobile’s applications were “Eligibly Facilities
      Requests” that do not substantially change the physical
      dimensions of the existing site, and therefore, under Section 6409,
      the City cannot deny the applications. In doing so, the Court also
      recognizes that the City failed to timely act on the applications
      that T-Mobile deemed granted.

      • Based on the Court’s holding that
        the City violated Section 6409(a), the Court holds that the
        applications deemed granted by T-Mobile “are and
        shall be treated as legal
        by [the City].”
        (Emphasis added). This is strong language that is broad in
        scope.
      • The Court rejects the City’s sole
        defense that Section 6409 violates the Tenth Amendment to the U.S.
        Constitution.
    • The Court also grants in part
      T-Mobile’s motion for injunctive relief. In doing so, the Court
      recognizes that in the FCC’s 2014 Order implementing Section
      6409, the FCC held that Section 6409 applicants could seek
      injunctive relief and that injunctive relief would be appropriate
      “in many cases in light of the balance of equities, including
      the public interest reflected in the statute of promoting rapid but
      responsible wireless facility deployment.”

      • This was an important holding by the
        Court, as the City argued strenuously that Section 6409 did not
        allow any relief beyond the deemed granted notice. The Court
        concluded that T-Mobile demonstrated that it would suffer
        irreparable harm if the City acted to prevent T-Mobile from making
        installations or modifications pursuant to the deemed granted
        applications.
    • The Court orders that (1) the deemed
      granted applications are “as effective as granted
      applications” as a matter of law, and (2) that the City is
      “estopped from imposing penalties in any way or preventing
      T-Mobile from proceeding with installations for T-Mobile’s
      deemed granted applications.” Although T-Mobile framed its
      motion as being for preliminary injunction, the Court’s remedy
      does not say it is not limited in time to the duration of this
      case.
    • The Court’s conclusions are
      strong and positive for T-Mobile and other entities relying on
      Section 6409 to deploy upgrades or collocations of new
      facilities.
  • City of Portland v. U.S.
    • As anticipated, on March 22, 2021,
      the local governments that appealed the FCC’s 2018 “Small
      Cell Order” and “Moratorium Order” filed a Petition
      for Certiorari, asking the Supreme Court to review the Ninth
      Circuit’s decision in City of Portland v. U.S., 969
      F.3d 1020 (9th Cir. 2020).

      • As we previously reported, in City of Portland, the
        Ninth Circuit affirmed the FCC’s orders, rejecting the local
        governments’ various arguments challenging the FCC’s
        clarifications of the “effective prohibition” language of
        Sections 253(a) and 332(c)(7)(B)(i)(II) of the Communications
        Act.
    • The Petition for Certiorari was
      docketed by the Supreme Court on March 25, 2021. Oppositions are due April 26,
      2021.
  • Appeal of the 5G Upgrade Order –
    League of California Cities v. FCC

    • On March 16, 2021, the FCC filed a
      motion asking the Ninth Circuit to hold in abeyance for 120 days
      the pending appeal of the FCC’s June 2020 Order clarifying the
      FCC’s rules implementing Section 6409(a) of the Spectrum Act
      (the so-called “5G Upgrade Order”). The FCC told the
      Court that holding the case in abeyance for 120 days would allow
      the “newly constituted Commission an opportunity to determine
      how it plans to proceed with respect to this case.” The
      request was unopposed.
    • The Court granted the motion on March
      19, 2021, vacating the prior briefing schedule and holding the case
      in abeyance until July 19, 2021.

Legislative Efforts

  • A bill was reintroduced in the Senate
    that would require NTIA to estimate the value of spectrum allocated
    for federal use.

    • On March 3, 2021, Senator Lee
      introduced the Government Spectrum Valuation Act. If enacted,
      the bill would require NTIA to estimate the economic value of
      spectrum between 225 MHz and 95 GHz that is allocated to federal
      entities. Similar bills were introduced in both the Senate and
      House during the 116th Congress.
  • A bill was introduced in the Senate
    that would establish a C-band auction reserve fund, which would be
    used to promote broadband connectivity.

    • On March 4, 2021, Senator Wicker
      introduced the Broadband Reserve Fund Act of 2021, which
      would require net proceeds from the recently concluded C-band
      auction to be deposited in a reserve fund at the Department of
      Treasury. The FCC or NTIA would be able to use the funds to, among
      other things, expand broadband access in unserved areas and
      minority communities, improve communications infrastructure, and
      secure the telecommunications supply chain.
  • A bill was introduced in the Senate
    that would create a grant program to expand the 5G workforce.

    • On March 25, 2021, Senator Wicker
      introduced the Improving Minority Participation and Careers in
      Telecommunications (IMPACT) Act.
      If enacted, the bill would
      establish a grant program that awards $100 million in grants to
      historically Black colleges or universities (“HBCUs”),
      Tribal colleges or universities (“TCUs”), or
      minority-serving institutions for the development of
      telecommunications workforce training programs. It would also
      require NTIA, by December 31, 2022, to award at least 30 percent of
      funds to HBCUs and at least 30 percent of funds to TCUs. FCC
      Commissioner Carr stated that the bill “would help create
      thousands of good-paying jobs while closing the digital divide and
      advancing our 5G leadership.”

Originally Published by Mintz, April 2021

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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