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Member rating: No Rating | Words: | Submitted: Mon Oct 08 2007

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Communications Satellite Corporation In January 1975, the Federal Communications Commission FCC) concluded an 1 1-year investigation of the appropriate economic regulation of the Communications Satellite Corporation;(Comsat). In the coming months, the commissioner; would deliver a decision that would address the full range of regulatory issues. One of the most important of these was the determination of a fair rate of re& on Comsat's capital: The company had requested a 12% rate of return for the period 1964-1974 and 15% thereafter. However, the FCC's trial staff' had recommended setting Comsat's allowable return at 7% for the years between 1964 and 1971 and at 8.33% for 1972 with annual increases to 9.42% by 1975 (Exhibit 1). If the FCC rejected Comsat's request for 1975 in favor of the staffs recommendation, the company's revenues in that year might be reduced by as much as 30%, its net operating income could decline by 45%, and earnings...

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