| CO Seeks Comment on
Broadcasters' Motion for Stay of Rule |
9/17. The Copyright
Office (CO) published a notice
in the Federal Register requesting public comments on the
motion for stay filed by various broadcasters of the CO's
final rule that provides that transmissions of a broadcast
signal over a digital communications network are not exempt
from copyright liability under 17 U.S.C.
§ 114(d)(1)(A).
The comment period is very short. The notice states that
"Oppositions are due no later than Tuesday, September
24, 2002. Replies are due no later than Friday, September 27,
2002."
See, Federal Register, September 17, 2002, Vol. 67, No. 180,
at Pages 58550 - 58551. See also, copy of the notice
[3 pages in PDF] in the CO web site. This is the CO's Docket
No. RM 2000-3C.
On December 11, 2000, the Copyright Office issued its final
rule providing that the transmission of a sound recording as
part of a retransmission of an AM/FM broadcast signal over a
digital communications network, such as the Internet, is
subject to the limited digital performance right provided by 17 U.S.C.
§ 106(6), and is not exempt under § 114(d)(1)(A) --
the provision that specifically exempts a nonsubscription
broadcast transmission. See, notice
in Federal Register, December 11, 2000, Vol. 65, at Pages
77292 - 77302.
On January 25, 2001, Bonneville International, Clear Channel
Communications, Cox Radio, Emmis Communications, Entercom
Communications, Susquehanna Radio, and the National Association of
Broadcasters filed a complaint
in U.S. District Court
(EDPenn) against the Copyright Office seeking a
declaration that the CO's final rule is inconsistent with 17
U.S.C. § 114(d)(1)(A). This case is also known as NAB v.
Peters.
On August 1, 2001, the District Court issued its Memorandum
and Order granting summary judgment to the Copyright
Office. The broadcasters have filed an appeal in the U.S. Court of Appeals
(3rdCir), which is pending. See, Appeal No. 01-3720. |
|
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| 9th Circuit Applies Fair
Use Exemption to News Video Footage |
9/16. The U.S.
Court of Appeals (9thCir) issued its opinion
[PDF] in LANS
v. CBS, a copyright infringement case involving
news video footage in which the court examined evidentiary and
fair use issues.
Background. The Los Angeles News Service (LANS) shot
videos in 1992 of a riot in Los Angeles from its helicopter,
including one of the beating of Reginald Denny. LANS
registered copyrights with the Copyright Office. LANS alleges
that a video news service that was then a part of Westinghouse
Electric (a Viacom company, like CBS) distributed LANS's video
footage, without license, to its subscribers, including
television stations. LANS further alleges that Court TV was
one of those subscribers who used copyrighted footage.
District Court. LANS filed a complaint in U.S.
District Court (CDCal) against Westinghouse Electric and
others alleging copyright infringement. The District Court
granted summary judgment to defendants. The District Court's
judgment for CBS was based upon its exclusion of all of LANS's
evidence probative of distribution of the copyrighted video.
The judgment for CourtTV was based upon fair use. LANS brought
this appeal.
Appeals Court. The Appeals Court reversed the grant of
summary judgment to CBS Broadcasting, and remanded. The
Appeals Court affirmed the grant of summary judgment to
CourtTV. Following a detailed analysis under the four prong
fair use standard of 17 U.S.C
§ 107, it held that CourtTV's very short take from the
video fell within the fair use exception. |
|
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| Court Rules on Appointment
of Lead Plaintiff in Class Action Securities Suit Against Tech
Company |
9/16. The U.S. Court of Appeals (9thCir) issued its opinion
[30 pages in PDF] in In
Re Cavanaugh, a case regarding the standard
under the 1995 PSLRA for appointing the lead plaintiff in a
class action securities fraud lawsuit.
Background. This case arising out of the decline in the
stock price of Copper Mountain Networks, a supplier of digital
subscriber line (DSL) products. The usual flood class action
securities fraud lawsuits followed. One of the many law firms
to file was Milberg Weiss,
a firm that specializes in bringing class action securities
fraud suits against high tech companies.
District Court. The District Court consolidated the
actions, and appointed Quinn Barton, a self employed investor
represented by the law firm of Beatie & Osborn, as lead
plaintiff. However, the lead plaintiffs proposed by Milberg
Weiss, which included David Cavanaugh, had the largest
cumulative financial stake in the controversy. Milberg Weiss
brought this petition for writ of mandamus.
Appeals Court. The Appeals Court outlined and applied
the controlling provisions of Rule 23, Federal Rules of Civil
Procedure, and the Private Securities Litigation Reform Act (PSLRA),
15 U.S.C. § 78u-4, pertaining to appointment of lead
plaintiff in class action securities cases. It held that the
District Court did not follow the statutory framework, and
hence, granted the petition, and vacated the order appointing
Barton lead counsel.
The Appeals Court wrote that the PSLRA provides that the
presumptive lead plaintiff is the one who meets the
requirements of Rule 23 and "has the largest
financial interest in the relief sought by the class".
However, the PSLRA also provides that the District Court may
appoint another prospective lead plaintiff, if he can
demonstrate "a reasonable basis for a finding that the
presumptively most adequate plaintiff is incapable of
adequately representing the class."
The District Court had found that the Cavanaugh group of
plaintiffs were the presumptively "most adequate
plaintiff" because it had the largest stake; however, it
also found that Barton rebutted the presumption by showing
"significant differences in potential attorney fees"
that "cannot be rationally explained by intangible
factors such as the well recognized brand name in securities
litigation of" Milberg Weiss.
The Appeals Court wrote that the PSLRA instructs the District
Court to select as lead plaintiff the one "most capable
of adequately representing the interests of class
members." The PSLRA, in turn, defines "most
capable" as the one who "has the largest financial
interest in the relief sought by the class" and
"otherwise satisfies the requirements of Rule 23".
"In other words," the Appeals Court wrote, "the
district court must compare the financial stakes of the
various plaintiffs and determine which one has the most to
gain from the lawsuit. It must then focus its attention on that
plaintiff and determine, based on the information he has
provided in his pleadings and declarations, whether he
satisfies the requirements of Rule 23(a), in particular those
of ``typicality´´ and ``adequacy.´´ If the plaintiff with
the largest financial stake in the controversy provides
information that satisfies these requirements, he becomes the
presumptively most adequate plaintiff. If the plaintiff with
the greatest financial stake does not satisfy the Rule 23(a)
criteria, the court must repeat the inquiry, this time
considering the plaintiff with the next largest financial
stake, until it finds a plaintiff who is both willing to serve
and satisfies the requirements of Rule 23." (Emphasis in
original. Footnotes omitted.)
The Appeals Court continued that the District Court
"started on the right foot by identifying the Cavanaugh
group and each of its members as the plaintiffs with the
largest financial stake in the litigation. The court quickly
went off the statutory track, however, by failing to give
effect to the presumption that the Cavanaugh group would be
lead plaintiff unless it failed to satisfy Rule 23(a)'s
typicality or adequacy requirement. ... The court discounted
the significance of the statutory presumption based on its
understanding that ``the presumption was an effort by Congress
to encourage the involvement of institutional investors in
securities class actions.´´"
Judge Kozinsky, who wrote the opinion of the Appeals Court,
added that "This, of course, was error. Congress enacts
statutes, not purposes, and courts may not depart from the
statutory text because they believe some other arrangement
would better serve the legislative goals."
Judge Wallace wrote a concurring opinion. He expressed his
concerns arising out of the fact that this case was before the
Court of Appeals on a petition for writ of mandamus, rather
than as an appeal of an interlocutory order. He also addressed
the implications of this for the Appeals Court's scope of
review at this stage, and the affect upon review of final
judgment. |
|
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| Satellite Broadcasters
Criticize Landrieu Bill |
9/12. The Satellite
Broadcasting and Communications Association (SBCA)
announced its opposition to S 2922,
the Emergency Communications and Competition Act of 2002
(ECCA), sponsored by Sen.
Mary Landrieu (D-LA) and Sen. Conrad Burns (R-MT).
SBCA President Andy Wright stated in a release that
"Northpoint Technology's most recent attempt at a
spectrum grab -- S. 2922 -- is anti-consumer legislation
that would cause harmful interference and interrupt the
service of millions of satisfied satellite TV customers. The
legislation would also unilaterally enrich Northpoint over its
potential competitors by giving a handful of politically
connected individuals millions of dollars of publicly owned
spectrum for free."
The bill would require that the Federal
Communications Commission (FCC) "shall assign
licenses in the 12.2-12.7 GHz band for the provision of fixed
terrestrial services using the rules, policies, and procedures
used by the Commission to assign licenses in the 12.2-12.7 GHz
band for the provision of international or global satellite
communications services in accordance with section 647 of the
Open-market Reorganization for the Betterment of International
Telecommunications Act (47 U.S.C. 765f)."
The bill would provide for the licensing, without auction, of
digital broadcast satellite (DBS) spectrum for terrestrial use
by Multichannel Video Distribution and Data Services (MVDDS)
-- essentially, NorthPoint
Technology. |
|
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| Tuesday, September 17 |
The House will meet at 12:30 PM for morning hour and at 2:00
PM for legislative business. No votes are expected before 6:30
PM. The House will consider a number of measures under
suspension of the rules.
The Senate will meet at 9:30 AM for morning business. It will
resume consideration of the Interior Appropriations Act at
10:30 AM. It will recess for weekly party conferences at 12:30
PM. It will resume consideration of the Homeland Security Act
at 2:15 PM. It will resume consideration of the Interior
Appropriations Act at 4:15 PM.
8:00 AM EDT. Qwest
Communications will web cast a meeting between investors
and Ch/CEO Richard Notebaert and VCh/CFO Oren Shaffer. See, web cast
page for both live cast and replay. See also, release.
9:00 AM - 5:00 PM. Day one of a three day meeting of the Computer System Security
and Privacy Advisory Board (CSSPAB). The agenda includes
(1) discussion of a CSSPAB privacy report, (2) discussion of a
CSSPAB baseline standards report, (3) updates on computer
security legislation, (4) an update by the OMB on privacy and
security issues, (5) an agency briefing on compliance with the
Government Paperwork Elimination Act (GPEA), (6) and a
discussion of DMCA issues. Location: General Services
Administration (GSA), 7th and D Streets, SW, 5700.
9:00 AM. The Bureau of
Industry and Security's (BIS) Regulations and Procedures
Technical Advisory Committee (RPTAC) will hold a partially
open meeting. The agenda for the open portion of the meeting
includes a presentation of papers or comments by the public,
an update on pending regulations, a discussion of TSR MTOP
limit comments, a discussion of the Unverified List, a review
of SNAP 2002 status, a discussion of AES regulations & SED
recordkeeping requirements, a discussion on implementation of
CCL User Friendliness recommendations, and updates from
working groups. See, notice
in the Federal Register. Location: Room 3884, Department of
Commerce, 14th Street between Constitution and Pennsylvania
Avenues, NW.
9:30 AM. The U.S.
Court of Appeals (DCCir) will hold an en banc hearing in Ruggiero
v. FCC, No. 00-1100. On February 8, a three judge panel
issued its split opinion
holding unconstitutional the ban on issuance of low power FM
radio broadcast licenses to anyone who has previously engaged
in an unlicensed operation. The set of people who have engaged
in unlicensed broadcasting who may seek low power FM licenses
is a very small and insignificant group. However, this case
could have a broader impact. The en banc panel may provide an
analysis of the application of the First Amendment to
broadcast speech that affects a wider range of speakers.
Location: Courtroom 20, 333 Constitution Ave., NW.
10:30 - 11:30 AM. Secretary of Commerce Don Evans,
Education Under Secretary Eugene Hickok, and National Science Foundation
Director Rita Colwell will hold a press conference to release
a "compilation of visions" prepared by members of
industry, academia and government on how emerging technologies
might be used in education and training. See, notice.
Location: Secretary's Conference Room, 5th floor, Department
of Commerce, 14th and Constitution Ave., NW.
FULL: WALK INS WILL NOT BE
ADMITTED. 12:00 NOON - 4:30 PM. The Cato Institute will host an
event titled "The Supreme Court: Past and Prologue. A
Look at the October 2001 and October 2002 Terms".
Location: 1000 Massachusetts Avenue, NW.
2:30 PM. The Senate
Commerce Committee's Subcommittee on Science, Technology,
and Space will hold a hearing to on nanotechnology.
Location: Room 253, Russell Building. |
|
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| Wednesday, September 18. |
The House will meet at 10:00 AM for legislative business.
7:30 - 9:00 AM. The National
Association of Manufacturers (NAM) will host a breakfast. Rep. Tom Davis
(R-VA) will speak on the upcoming elections. See, notice.
Location: Grand Hyatt Hotel, 1000 H Street, NW.
LOCATION CHANGE. 8:30 -
11:00 AM. The Alliance for
Public Technology (APT) and the High Tech Broadband
Coalition (HTBC) will host a half day conference titled
"From Debate to Deployment: Making Broadband Competition
Work for All Americans". The scheduled speakers include Kevin Martin
(FCC
Commissioner), Rhett Dawson (ITIC), Henry Geller (APT), John
Haring (Strategic Policy Research), Yardly Pollas (LA for Rep.
Bobby Rush (D-IL)), Paul Schroeder (APT), and Kathy Wallman
(Wallman Consulting). Breakfast will be served. Press contact:
Matt Bennett (APT), 202 263-2972 or mbennett @apt.org.
Location: Hyatt Regency on Capitol Hill, 400 New Jersey Ave.,
NW.
9:00 AM - 5:00 PM. Day two of a three day meeting of the Computer System Security
and Privacy Advisory Board (CSSPAB). The agenda includes
(1) discussion of a CSSPAB privacy report, (2) discussion of a
CSSPAB baseline standards report, (3) updates on computer
security legislation, (4) an update by the OMB on privacy and
security issues, (5) an agency briefing on compliance with the
Government Paperwork Elimination Act (GPEA), (6) and a
discussion of DMCA issues. Location: General Services
Administration, 7th and D Streets, SW, 5700.
9:30 AM - 1:00 PM. The FCC will hold
an auction seminar for Auction No. 46 applicants. This is for
the 1670-1675 MHz band auction, scheduled for October 30,
2002. See, notice
with registration form [PDF]. Registration starts at 9:30
AM. The seminar begins at 10:00 AM. Location: FCC, 445 12th
Street, SW, Room 8-C245.
10:00 AM - 3:00 PM. The FCC's
Technological Advisory Council will hold a meeting. See, notice
in Federal Register. Location: FCC, 445 12th St., SW, Room
TW-C305.
10:00 AM. The Senate
Judiciary Committee will hold a hearings to examine
pending judicial nominations. See, notice.
Location: Room 226, Dirksen Building.
10:00 AM. The House
Judiciary Committee's Subcommittee on Courts, the
Internet, and Intellectual Property will hold a hearing on HR 5119,
the Plant Breeders Equity Act of 2002. Audio web cast.
Location: Room 2141, Rayburn Building.
10:30 AM. The House
Ways and Means Committee will meet to mark up two bills,
one of which is HR __, the "Miscellaneous Trade and
Technical Corrections Act of 2002." Location: Room 1100,
Longworth Building.
12:15 PM. The FCBA's
Transactional Practice Committee will host a brown bag lunch.
The topic will be FBI and CFIUS
issues that arise in telecommunications transactions. The
scheduled speakers are Richard Salgado (FBI) and Gay Sills and
Jack Dempsey (CFIUS). RSVP to wendy @fcba.org.
Location: FCC, 445 12th Street, SW, Room 8-B411.
1:00 PM. The House
Judiciary Committee's Subcommittee on Immigration, Border
Security, and Claims, and the House Ways and Means
Committee's Subcommittee on Social Security will hold a
joint oversight hearing titled "Preserving the Integrity
of Social Security Numbers and Preventing Their Misuse by
Terrorists and Identity Thieves". Location: Room 1100,
Longworth Building.
2:00 PM. The House
Government Reform Committee's Subcommittee on Technology
and Procurement Policy will hold a hearing on S 803
and HR 2458,
the E-Government Act of 2002. These are companion bills
sponsored by Sen. Joe
Lieberman (D-CT) and Rep. Jim Turner
(D-TX). The Senate passed S 803 on June 27, 2002. The
scheduled witnesses included Linda Koontz (GAO),
Mark Forman (OMB),
Pat McGinnis (Council for Excellence in Government), and Roger
Baker (CACI). Press
contact: David Marin, 225-1492.
6:00 - 8:00 PM. The FCBA will
host a CLE seminar titled "The Wake-Up Call --
Telecommunications Policies One September Later". The
scheduled speakers include Marsha
MacBride (FCC Chief of Staff and Director of the FCC's
Homeland Security Policy Council), Howard Waltzman (Counsel to
House Commerce Committee), Owen Wormser (DOD Principal
Director for Spectrum, Space, Sensors & C3), Mike
Gallagher (NTIA),
Jeffery Goldthorp (FCC Designated Federal Officer, Network
Reliability and Interoperability Council). For more
information contact Laura Phillips at 202 842-8891 or Lauren
Van Wazer at 202 418-0030. RSVP to wendy @fcba.org.
Registrations and cancellations are due by 5:00 PM on
September 16. Location: Sidley Austin,
Conference Room 6-E, 1501 K Street NW.
TIME? The Trade Policy Staff Committee (TPSC) will hold a
hearing on China's compliance with the commitments it made in
connection with its accession to the World Trade Organization (WTO).
See, U.S. Trade Representative
(USTR) notice
in the Federal Register.
TIME? The FTC has scheduled a
hearing in the matter of its administrative complaint
against Rambus alleging
anti competitive behavior in violation of Section 5 of the
Federal Trade Commission Act (FTCA) in connection with its
participation in a standard setting body for dynamic random
access memory products. See also, FTC release.
Location: FTC.
Day one of a two day Homeland Security Technology Expo
hosted by the Department of
Commerce's (DOC) Technology Administration and Bureau of
Industry and Security (BIS). See, BIS
notice. For more information contact Cheryl Mendonsa
(202 482-8321). Location: DC Armory.
Deadline for the FCC to act on BellSouth's application
to provide in region interLATA services in the states of
Alabama, Kentucky, Mississippi, North Carolina, and South
Carolina. |
|
|
|
| Thursday, September 19 |
The House will meet at 10:00 AM for legislative business.
8:00 AM. The U.S. Chamber
of Commerce's National Chamber Litigation Center will host
a press briefing on the upcoming term of the Supreme Court. Charles
Cooper (Cooper &
Kirk) and Carter
Phillips (Sidley & Austin.
A continental breakfast will be served. RSVP to 202 463-5337
or nclc @uschamber.com.
Location: 1615 H Street, NW.
8:00 AM. Treasury Secretary Paul
O'Neill will speak at the American Business Conference
CEO's Fall Meeting. Location: Jefferson Hotel, 1200 16th
Street, NW.
9:00 AM - 3:00 PM. Day three of a three day meeting of the Computer System Security
and Privacy Advisory Board (CSSPAB). The agenda includes
(1) discussion of a CSSPAB privacy report, (2) discussion of a
CSSPAB baseline standards report, (3) updates on computer
security legislation, (4) an update by the OMB on privacy and
security issues, (5) an agency briefing on compliance with the
Government Paperwork Elimination Act (GPEA), (6) and a
discussion of DMCA issues. See, notice in Federal Register,
August 30, 2002, Vol. 67, No. 169, at Pages 55817 - 55818.
Location: General Services Administration, 7th and D Streets,
SW, 5700.
9:00 AM - 5:30 PM. Subcommittees of the FCC's Public
Safety National Coordination Committee will hold meetings. The
Interoperability Subcommittee will meet at 9:00 - 11:30 AM.
The Technology Subcommittee will meet at 12:30 - 3:00 PM. The
will meet at 3:00 - 5:30 PM. Location: FCC, 445 12th Street,
SW, Room TW-C305 (Commission Meeting Room).
10:00 AM. The Senate
Judiciary Committee will hold a business meeting. See, notice.
Location: Room 226, Dirksen Building.
10:00 AM. The Senate
Commerce Committee will meet in executive session to mark
up pending legislation. Location: Room 253, Russell Building.
10:00 AM. The Senate
Banking Committee will hold a hearing on financial
privacy and consumer protection. Mike Hatch (Atty. Gen. of
Minnesota), William Sorrell (Atty. Gen. of Vermont), Jim
Kasper (North Dakota House of Representatives), Phyllis
Schlafly (Eagle Forum),
Edmund Mierzwinski (USPIRG), Fred Cate (Indiana Univ. School
of Law), and John Dugan (FSCC).
Location: Room 538, Dirksen Building.
11:00 AM. The Cato Institute
will host a panel discussion titled "Copy Fights: Can
Politicians or Entrepreneurs Best Protect Intellectual
Property?" The scheduled speakers are Rep. Howard Berman
(D-CA), Gigi Sohn (Public
Knowledge), Phil
Corwin (Butera
& Andrews), Troy Dow (MPAA), Ed
Black (CCIA),
and James
Miller (Smith College). Lunch will follow the program.
See, notice.
Location: Cato Institute, 1000 Massachusetts Avenue, NW.
12:00 NOON. The Progress and
Freedom Foundation (PFF) will host a luncheon panel
discussion titled "The Future of Telecom".
The participants will be Ivan Seidenberg (Verizon), Randolph May
(PFF), Scott Cleland (Precursor Group), Blair Levin (Legg
Mason), and Brett Swanson (Gilder Technology Report).
To register, contact Rebecca Fuller at rfuller @pff.org or 202
289-8928. Location: Ronald Reagan Building, Pavilion Room,
1300 Pennsylvania Ave., NW.
2:00 PM. The Senate
Judiciary Committee's Antitrust Subcommittee will hold an
oversight hearing on enforcement of the antitrust laws.
Sen. Herb Kohl (D-WI)
will preside. See, notice.
Location: Room 226, Dirksen Building.
4:00 PM. Michael
Birnhack (Professor at the University of
Haifa Faculty of Law) will give a lecture titled "The
Denial of the Copyright Law / First Amendment Conflict"
as a part of the George
Washington University Law School Intellectual Property
Workshop Series. For more information, contact Prof.
Robert Brauneis at 202 994-6138. Location: Faculty
Conference Center, 5th Floor Burns, 716 20th Street, NW.
6:00 - 8:00 PM. The FCBA's
Young Lawyers Committee will host a Career Night for law
students and new attorneys. FCC
Commissioner Kevin Martin
will participate. For more information, contact Yaron Dori at
202 637-5600 or ydori
@hhlaw.com or Ryan Wallach at 202 429-4759 or rwallach @willkie.com.
RSVP to Wendy @fcba.org.
Location: Hogan & Hartson, 555 13th Street, NW.
Day two of a two day Homeland Security Technology Expo
hosted by the Department of
Commerce's (DOC) Technology Administration and Bureau of
Industry and Security (BIS). See, BIS
notice. For more information contact Cheryl Mendonsa
(202 482-8321). Location: D.C. Armory.
President Bush is scheduled to release a document that states
a national strategy for cyber security. |
|
|
| Friday, September 20. |
The House will not be in session.
8:30 - 10:00 AM. Harold
Furchtgott Roth and Gregory Sidak
of the American Enterprise
Institute (AEI) will host a press breakfast titled
"Is the FCC Moving Too Slowly?". The AEI states that
this is a "media only" event. RSVP Veronique Rodman
at vrodman @aei.org or
call Heather Dresser at 202 862-5884. Location: AEI, 11th
Floor Conference Room, 1150 17th Street, NW.
9:30 AM - 12:30 PM. The FCC's Public
Safety National Coordination Committee will meet. See, notice
in Federal Register. Location: FCC, 445 12th Street, SW. |
|
|
| More News |
9/13. California Gov. Gray Davis signed SB
2095, sponsored by Sen. Ross Johnson
(R-Irvine). This bill provides that "The Secretary of
State shall include on the Internet Web site of the Secretary
of State's office, as part of the campaign finance activity
that is publicly disclosed, any independent expenditure, as
defined in Section 82031, that is reported pursuant to Section
85500 with respect to a candidate for elective state office
and a statewide ballot measure. This information shall be
linked to the part of the Web site that the Secretary of State
maintains concerning that candidate or ballot measure."
It covers expenditures of $1,000 or more made for candidates
for state office or state ballot measures.
9/13. California Gov. Gray Davis returned, without his
signature, AB
2048, sponsored by Simon
Salinas (D-Salinas). This bill would have allowed
videotapes or recordings made by security cameras on public
transit systems to be destroyed immediately. Gov. Davis wrote
a letter
[PDF] to the state legislature explaining why he did not sign
the bill. "While AB 2048 is intended to free transit
agencies from the added expense of processing and storing
these videotapes, such tapes can be a valuable tool to help
solve crimes. The fact that a monitoring video contains useful
information may not be known in time to preserve a particular
tape under the terms in this bill. Requiring transit agencies
to hold tapes for a least a short period of time could prevent
the loss of useful evidence."
9/16. Treasury Secretary Paul
O'Neill gave a speech
in Portland, Maine, regarding the economy. He said that
"We've suffered through a bursting stock market bubble,
terrorist attacks on New York and Washington, and discoveries
of corporate fraud." However, "today it looks like
we are on the road to recovery -- a bumpy road, but the right
road nonetheless. The latest indicators look good." He
cited, as an example, that "Capital spending on equipment
and software rose in the second quarter for the first time in
seven quarters and looks even better for the third
quarter." He added that "the most recent major step
forward for our nation's prosperity is passage of Trade
Promotion Authority, which the President will use to open
international markets to US exports, creating jobs here at
home." |
|
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