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Cellular Phone Forum / General / General Topics / October 2004early sales of cellular blocks??
Well over 20 years ago I used to see ads for people to buy blocks or areas where future "cellular technology" - the communication wave of the future - was to implemented. These investors were supposed to reap vast profits when whatever uses cellular technology in the future becomes commonplace. Mike Douglas, the oldtime TV talkshow host, used to do TV ads to promote these sales which IIRC went for $5,000 a block. I always wondered if any of those initial investors actually made any money? > Well over 20 years ago I used to see ads for people to buy blocks or areas > where future "cellular technology" - the communication wave of the future - > was to implemented. More like 10-15 years ago- early 90's IIRC. I remember watching those infomercials. They weren't selling cellular or PCS licenses, however, but another type of mobile radio license called SMR (Specialized Mobile Radio). These were essentially short-range (50 mile?) pager frequenices. > These investors were supposed to reap vast profits when > whatever uses cellular technology in the future becomes commonplace. Mike > Douglas, the oldtime TV talkshow host, used to do TV ads to promote these > sales which IIRC went for $5,000 a block. > I always wondered if any of those initial investors actually made any money? No, in fact the FTC came down hard on these scam artists and they had to return a great deal of the money- at least what they hadn't already spent. They charged their victims the $5000-10,000 and in return filed your license application for you- a process that cost only a couple of hundred bucks. Given the limited range of the licenses, they weren't auctioned, but filled first-come, first served. If you want one, they're probably still available! ;-) Probably not, since we're all still using cellular and PCS, and not whatever spectrum they were hustling! |
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