March 8, 2010
A new study from Navigant Economics economists Hal Singer and Jeff West on the “Economic Effects of Broadband Infrastructure Deployment and Tax Incentives for Broadband Deployment” analyzes the economic effects of two proposed goals for the FCC's upcoming National Broadband Plan: ubiquitous deployment of current-generation broadband to all U.S. households, and competitive deployment of next-generation broadband to 80% of U.S. households. They also find that a number of proposed tax incentives would spur broadband providers to reach or nearly reach these two deployment goals by 2015.
March 4, 2010
A paper co-authored by Navigant Economics economists Dr. Jeffrey Eisenach and Dr. Wayne Leighton has been published in the prestigious Review of Network Economics. The article, “The Impact of Regulation on Innovation and Choice in Wireless Communications,” analyzes the impact of proposed “net neutrality” regulation on wireless carriers.
Eisenach and Leighton, along with co-author Dr. Everett Ehrlich, conclude that, while net neutrality advocates claim such regulations would promote consumer choice and protect innovation, they would have precisely the opposite effect: Consumers would have fewer choices, innovation would be slowed, and, as a result, consumer welfare would be reduced.
To view an earlier version, please click here.
February 23, 2010
Empiris President Hal Singer and Senior Expert Robert Crandall released a new study on “The Economic Impact of Broadband Investment.”
In this paper, Singer and Crandall find that the deregulatory climate of the past decade allowed broadband penetration to rise and that continued investment in broadband will expand domestic output and create new jobs. They then assess policy options facing regulators and advise regulators to diligently avoid taking any steps that might undermine the industry’s incentives to invest.
January 25, 2010
Empiris LLC announced today that it has been acquired by Navigant Consulting, Inc. (NYSE: NCI), a leading international consulting firm. The Empiris team will join Navigant’s economics practice, which was formed with the 2008 acquisition of Chicago Partners.
“We are very excited to be joining the industry-leading experts of Navigant’s economics practice,” said Jeffrey A. Eisenach, Ph.D., Chairman, Empiris. “We look forward to working with our new colleagues in supporting clients to address complex litigation, regulatory and business matters.”
Navigant Economics is comprised of more than 130 consulting professionals, including 30 Ph.D. economists, many of whom are affiliated with leading institutions such as the University of Chicago, Georgetown University, Northwestern University and the George Mason University School of Law. Navigant Economics provides economic analyses of legal and business issues to law firms, corporations and government agencies, with particular expertise in Antitrust and Competition, Intellectual Property, Labor, and Securities Litigation matters.
“The credentials, expertise and experience of Empiris’ experts are well aligned with Navigant’s economics practice,” said John Garvey, Managing Director and Leader of Navigant’s economics practice. “The Empiris team deepens our testifying expert base, particularly in antitrust and regulatory matters, and the senior leadership at Empiris provides a tremendous foundation for growing our presence in Washington D.C.”
Empiris (www.empiris.com) was founded by economists with decades of experience providing consulting services to clients engaged in litigation, regulatory proceedings, policy debates and strategic planning. The Empiris team includes academic and industry professionals with expertise in antitrust, auctions, class certification, communications and the Internet, consumer protection and damages. The work of Empiris economists has spanned every major industry.
About Navigant Consulting
Navigant Consulting, Inc. (NYSE:NCI) is a specialized independent consulting firm providing litigation, financial services, health care, energy and operational consulting services to government agencies, legal counsel and large companies facing the challenges of uncertainty, risk, distress and significant change. The Company focuses on industries undergoing substantial regulatory and structural change and on the issues driving these transformations. “Navigant” is a service mark of Navigant International, Inc. Navigant Consulting, Inc. (NCI) is not affiliated, associated, or in any way connected with Navigant International, Inc. and NCI’s use of “Navigant” is made under license from Navigant International, Inc. More information about Navigant Consulting can be found at www.navigantconsulting.com.
January 22, 2010
Empiris President Hal Singer will participate in the Advisory Committee to the Congressional Internet Caucus’ State of the Net pre-conference seminar entitled, “Broadband Infrastructure and Net Neutrality,” on January 26, 2010, 2:00-5:00 p.m., at the Hyatt Regency Capitol Hill in Washington, DC.
Speakers, including FCC Commissioners Meredith Atwell Baker and Michael J. Copps, as well as New York Law School professor Charles Davidson and University of Pennsylvania Law School professor Christopher Yoo, will explore technology trends and the policy challenges facing lawmakers, industry leaders, consumers and the administration.
January 5, 2010
Empiris President Hal Singer filed a declaration with the FCC concluding that Comcast’s refusal to carry the Tennis Channel on a widely distributed tier is discriminatory and has impaired the Tennis Channel’s ability to compete with Comcast’s affiliated sports networks. The declaration was filed alongside the Tennis Channel’s complaint.
According to Dr. Singer, Comcast likely engages in such conduct to protect its programming interests and to extend its reach into tennis programming. He also concluded that the harm to Tennis Channel owing to Comcast’s discriminatory tiering policy will likely redound to the harm of advertisers and viewers.
December 28, 2009
Empiris Partner Joe Mason appeared on CNBC's Squawk Box today to discuss the growing conflict between lawmakers and the banking industry.
Professor Mason stated that lawmakers' proposed policies do not address the cause of the economic crisis and will likely impede the economic growth they seek instead of providing the desired stimulus in 2010.
December 22, 2009
Empiris LLC and O’Melveny & Myers LLP will co-host the George Mason Law Review’s 13th Annual Symposium on Antitrust on February 4, 2010, at the Willard Intercontinental Washington.
The Symposium will focus on two timely hot topics in antitrust litigation: bundling and share-based rebates in high-tech industries and class action in the wake of Monsanto, IPO and Hydrogen Peroxide. Confirmed speakers include Nic Economides (NYU), Kevin Murphy (University of Chicago), and Ted Snyder (University of Chicago), as well as Empiris partners Jeff Eisenach and Hal Singer.
December 21, 2009
On December 14, 2009, Empiris Partner Joe Mason issued a letter to the editor of the Financial Times to refute an article that stated “many economists” support a cap-and-trade system for limiting carbon emissions.
Professor Mason explains that the consensus of economists who write on the subject is that “both a tax and a price established through cap-and-trade are equally regressive…and that price levels sufficient to change production and consumption decisions meaningfully are prohibitively high from a political standpoint.”
December 15, 2009
Empiris Partner Joe Mason was interviewed on the Fox News Network regarding President Obama’s December 14, 2009, meeting with bank executives, to discuss banks’ responsibilities to the U.S. economy in the wake of the Troubled Asset Relief Program (TARP).
Professor Mason said that proposed regulations ignore the contribution of housing policies to the nation’s sluggish economy and disagreed with the government’s plan to make TARP permanent.
To watch the interview, click here.
December 3, 2009
Empiris Partner Ann Schnare testified before the U.S. House of Representatives’ Financial Services Committee at a hearing on the “FY09 FHA Actuarial Report” on December 2, 2009.
In her testimony, Dr. Schnare expressed concern that the FHA is “running on empty and perhaps has crossed the line into insolvency.” She then made several recommendations to improve the FHA’s current situation, such as increasing downpayment requirements and insurance premiums.
To read a CNNMoney article on the hearing, please click here.
December 1, 2009
Empiris Partner Ann Schnare and co-author Professor Richard Green of USC released a comprehensive report, “The Rise and Fall of Fannie Mae and Freddie Mac: Lessons Learned and Options for Reform,” which establishes a case for GSE reform that retains a market-driven approach but addresses acknowledged problems through charter revisions and better regulation.
Dr. Schnare recently spoke on the topic at a conference sponsored by the Federal Home Loan Bank of Des Moines. Her presentation, “Reforming Fannie Mae and Freddie Mac,” discussed the strengths and weaknesses of the GSE model and various options for reform.
November 24, 2009
Empiris Partner Wayne A. Leighton will be a featured panelist at the SDR '09 Technical Conference and Product Exposition on Wednesday, December 2nd, 2009.
Leighton will participate on the panel, "Future Dynamic Spectrum Access Regulatory Models: Can They Be Both 'Dynamic' and 'Regulatory'?" He will draw on research performed for Empiris clients as well as his earlier experience at the Federal Communications Commission where, as an economist in the Wireless Bureau and later as an advisor to Commissioner Tate, he worked on rules for the 700 MHz Band and AWS-III Band, as well as rules to develop efficient secondary markets in spectrum licenses.
November 24, 2009
Empiris Chairman Jeff Eisenach will chair the morning session of the International Institute of Communications’ “Telecommunications and Media Forum” on Wednesday, December 2, in Washington, D.C.
The forum will examine what a post-recessionary world will mean for businesses and policy makers in terms of broadband infrastructure and services, mobile wireless markets, and online video and TV content. Eisenach will open the morning program by introducing Mindel De La Torre, Chief of the FCC’s International Bureau, and then chair a panel discussion on The Future of Mobile Wireless, which will be led off by Ruth Milkman, Chief of the FCC’s Wireless Bureau.
November 19, 2009
Empiris Senior Expert Robert Hahn’s new article, “Where is Internet Policy Really Headed?,” was published in the Economists’ Voice.
In the paper, Dr. Hahn urges decision makers to update the rules governing Internet policy to foster innovation and increase consumer welfare.
November 18, 2009
Empiris Chairman Jeff Eisenach and President Hal Singer will speak at an American Consumer Institute conference, “The Evidence on Net Neutrality,” on Capitol Hill, November 19, 2009, 8:30-11 a.m.
Participants, including Congressman Gene Green (D-TX) and Representative Marsha Blackburn (R-TN), will discuss net neutrality—specifically the FCC’s proposed rulemaking to maintain an “open Internet”— and its potential effects on consumers and network investment. For a collection of essays on net neutrality by panelists and other experts, please click here.
November 17, 2009
David Anthoff and Empiris Senior Expert Robert Hahn review the performance of energy and environmental policies in “Government Failure and Market Failure: On the Inefficiency of Environmental and Energy Policy.”
Mr. Anthoff and Dr. Hahn find that many interventions in environmental and energy policy do not come close to maximizing net economic benefits and suggest what might be needed for the development of more efficient policies.
November 16, 2009
Empiris Senior Expert Robert Crandall, Everett M. Ehrlich, and Empiris Chairman Jeff Eisenach filed a declaration with the FCC warning the agency against relying on the Berkman Center for Internet and Society’s recent filing in developing its National Broadband Plan.
Crandall, Ehrlich, and Eisenach conclude that the Berkman Study does not provide an accurate or comprehensive summary of the evidence regarding broadband policies in other countries, nor does it serve the FCC’s announced purpose of obtaining an “independent expert review of existing literature and studies about broadband deployment and usage throughout the world.” Rather, the study advances findings and conclusions that conflict with the accumulated evidence found in existing research. In particular, Crandall, Ehrlich, and Eisenach show that the weight of the evidence demonstrates that mandatory unbundling has reduced broadband penetration and deterred investment in broadband telecommunications infrastructure, and that mandatory unbundling of Next Generation infrastructures would have similar effects.
November 5, 2009
A new study by Empiris Chairman Jeff Eisenach estimates that rural telephone companies receive more than $1 billion annually in unnecessary universal service subsidies in areas where cable companies provide unsubsidized telephone service. The study was submitted to the Federal Communications Commission today as part of a petition for rulemaking by the National Cable & Telecommunications Association.
October 30, 2009
Empiris Chairman Jeff Eisenach was interviewed by IT Business Edge on net neutrality; to see the article, click here.
October 28, 2009
Empiris Senior Expert Robert Hahn and President Hal Singer will discuss their recent paper, “Why the iPhone Won’t Last Forever and What the Government Should Do to Promote its Successor,” at a “Wireless Innovation Luncheon” hosted by Mobile Future on Monday, November 2, at the Newseum.
Drs. Hahn and Singer and fellow participant Tom Kalil of the White House Office of Science & Technology Policy will debate how stakeholders—both public and private—can continue to foster investment and innovation in the wireless space.
October 28, 2009
Empiris Chairman Jeff Eisenach will speak at a Mercatus Center event, “Ronald Coase’s The Federal Communications Commission at 50,” on Thursday, October 29, 9:00-12:00 p.m., at the George Mason University School of Law.
Dr. Eisenach will join fellow participants Commission Robert McDowell (FCC), Professor Thomas Hazlett (GMU), Dr. Evan Kwerel (FCC), and John Williams (FCC) in discussing Coase’s seminal article in a modern context. His remarks will draw from a new article co-authored with Adam Thierer (Progress & Freedom Foundation), “Ronald Coase vs. the Neo-Progressives,” which was published today in The American.
October 26, 2009
Empiris partner Wayne A. Leighton has released a study, “Measuring the Effects of Spectrum Aggregation Limits: Three Case Studies from Latin America.” The study examines spectrum availability and regulations in Argentina, Chile, and Colombia, and then estimates the core costs for an existing mobile service provider to expand into mobile broadband. Evaluating spectrum blocks ranging from 2x5 MHz to 2x20 MHz, the study finds that policies that prevent or constrain expansion with larger spectrum blocks could double or even quadruple the cost of providing, and thus the price charged for, mobile broadband service.
October 13, 2009
Empiris Partner Joe Mason and President Hal Singer’s op-ed, “Streamlining Consumer Financial Protection,” was featured today in The Hill.
In the op-ed, which echoes the conclusions of a recent study, Drs. Mason and Singer caution against eliminating federal preemption of state consumer protection laws in the banking industry and instead advocate a pointed federal approach.
October 9, 2009
Empiris partner Wayne A. Leighton will speak at the event, "Wireless Investment, Innovation & Competition," to be held on October 19th in the Hart Senate Office Building.
Sponsored by the Progress and Freedom Foundation, the event will include analysts, industry representatives and policy experts. Leighton will discuss a new study, "The Impact of Regulation on Innovation and Choice in Wireless Communications," which he co-authored with Everett Ehrlich and Empiris Chairman Jeffrey A. Eisenach.
October 2, 2009
Empiris Chairman Jeffrey Eisenach and co-author Jeremy Rabkin’s article, “The U.S. Abandons the Internet,” was featured today in the Wall Street Journal.
In the article, Drs. Rabkin and Eisenach express concern over the termination of the formal contract that since 1998 has stipulated the duties and limits that the U.S. government expected ICANN to respect. Effective September 30, the Department of Commerce allowed that agreement to lapse, replacing it with a non-binding “Affirmation of Commitments.”
September 30, 2009
A new study from Everett Ehrlich, Empiris Chairman Jeff Eisenach, and Empiris Partner Wayne Leighton concludes that proposed wireless net neutrality regulations, while phrased as prohibitions on wireless carriers, would inevitably affect device manufacturers and providers of applications and content. If adopted as proposed by various regulation advocates, they would disrupt the wireless sector’s highly successful business model and significantly reduce consumer welfare.
“The Impact of Regulation on Innovation and Choice in Wireless Communications” shows that the wireless industry is highly competitive and government intervention is not warranted. The practices that offend regulation advocates in the wireless sector are motivated by economic efficiency, not market power, and the prohibition of those practices would slow innovation and limit choice for consumers – the very opposite of what regulation advocates claim to want. Instead, Drs. Ehrlich, Eisenach, and Leighton propose a case-by-case approach grounded in established legal and economic theory.
September 29, 2009
Empiris President Hal Singer will be speaking at the Life Settlements & Longevity Summit on September 30. He will present his paper Valuing Life Settlements as a Real Option, which was published in both the Journal of Financial Transformation and in the book Life Markets (Wiley 2009).
Other speakers include Brian Tijan, Director, Life Finance Group, Credit Suisse; Dr. Jay Olshanksy, Professor of Epidemiology, University of Illinois at Chicago; Joel Ario, Commissioner, Pennsylvania Insurance Department; Michael Crane, Managing Director, Coventry; Ralph Tyler, Commissioner, Maryland Insurance Department; and Hasham Malik, Chief Capital Markets Officer, Peachtree.
September 22, 2009
Empiris Senior Expert Robert Hahn and President Hal Singer warn that hasty regulation of handset exclusivity agreements would likely stifle innovation and hurt consumer welfare in their new paper, “Why the iPhone Won’t Last Forever and What the Government Should Do to Promote its Successor.”
Exclusive handset agreements have come under scrutiny with the popularity of the iPhone, the latest in a long line of devices to be heralded as the pinnacle of technology and design. Drs. Hahn and Singer find that such agreements encourage innovation and an attempt to regulate them would do more harm than good.
September 21, 2009
A new study by Empiris Partner Joseph Mason and President Hal Singer examines from an economic perspective why uniform, national regulatory standards were originally needed in the U.S. banking industry, and continue to be so.
In “The Economic Impact of Eliminating Preemption of State Consumer Protection Laws,” Drs. Mason and Singer conclude that uniform, national standards have allowed banks to issue a consistent set of terms for mortgages, credit cards, and business loans. The study finds that the most significant preemption decisions made by the Office of the Comptroller of the Currency over the last two decades have enhanced competition among banks and thwarted price controls, increasing overall economic efficiency. The authors note that the preemption doctrine does not imply a laissez faire approach to regulation of the financial industry. Instead, Drs. Mason and Singer propose the creation of new federal rules for the problem areas while taking advantage of the gains uniform national standards can offer the lending industry and the U.S. economy.
September 16, 2009
Empiris Partner Ann B. Schnare’s report on the Federal Housing Administration (FHA) was featured in the Wall Street Journal and Huntington News. In the report, which was prepared in February 2009, Dr. Schnare and her co-author Michael Goldberg concluded that FHA’s single-family insurance program was likely to experience a capital shortfall by the end of the fiscal year. While HUD has yet to release the results of its 2009 audit, according to the Washington Post, HUD is now acknowledging that the Fund has failed to meet its regulatory capital requirements for the year.
For a copy of Drs. Schnare and Goldberg’s report, please click here.
September 11, 2009
Empiris Partner Joseph R. Mason’s new paper on “The Economic Policy Risks of Cap and Trade Markets for Carbon Emissions” was featured in the Wall Street Journal blog “Environmental Capital.”
Professor Mason’s paper explains why a carbon tax would be both simpler and more economically efficient than the type of cap-and-trade program that recently passed the U.S. House of Representatives.
September 11, 2009
A new study by Empiris senior experts Robert Crandall and Robert Litan, and Chairman Jeff Eisenach, examines “functional separation” policies in five nations.
The paper, “Vertical Separation of Telecommunications Networks: Evidence from Five Countries,” concludes that the policies adopted in Australia, Italy, New Zealand, Sweden and the United Kingdom are likely discouraging investment and are not contributing to adoption, and that such policies would be inappropriate for the United States.
September 4, 2009
Empiris President Hal Singer will speak at the American Consumer Institute’s conference, “Perspectives on Investment and a National Broadband Plan,” on September 8th at the Rayburn House Office Building.
Dr. Singer and his fellow panelists will comment on the FCC’s national broadband strategy and discuss the most effective way to encourage private sector investment in broadband networks.
For a copy of Dr. Singer's presentation, please click here.
For more information, please click here.
August 17, 2009
Empiris Chairman Jeffrey Eisenach will speak at the FCC’s Broadband Workshop on “International Lessons.” The workshop, part of a series the FCC is holding in conjunction with the development of its new “National Broadband Plan,” will be held in the Commission Meeting Room at the FCC from 9:30-11:30 a.m. on Tuesday, August 18, 2009.
Eisenach’s remarks will focus on the performance of the U.S. broadband market relative to other nations, and on data and conceptual problems that limit the usefulness of international comparisons of metrics like adoption rates and deployment. For a copy of Dr. Eisenach’s presentation, click here.
The event is open to the public and is also available via live webcast. For more information or to register online, please click here.
Eisenach’s most recent paper on the U.S. broadband market is here.
August 4, 2009
Many elderly Americans watched their savings dwindle as a result of the credit crisis. To raise funds, some are choosing to sell their life insurance policies to life-settlement firms, which offer a greater payout than the cash surrender value offered by the insurance company. The life-settlement firm then assumes responsibility for premiums in exchange for the disbursement upon the policyholder’s death.
Lawmakers are concerned that the rapidly expanding life-settlement industry has the potential to exploit seniors and consumers at large. The U.S. Senate Special Committee on Aging held a hearing on April 29, 2009, to discuss “Betting on Death in the Life Settlement Market—What’s at Stake for Seniors.” At the hearing, life settlement providers argued against shackling the nascent industry with unnecessary regulation. Michael Freedman, Senior Vice President of Coventry First LLC, testified in support of a properly regulated life settlement industry as a means to provide a valuable alternative to the lapse or surrender of a policy. He criticized insurance companies’ efforts to deny seniors the ability to realize the fair market value of their policies.
The development of a robust secondary market for life insurance has benefited many U.S. consumers. Along with several academics, Empiris President Hal Singer has documented many of the consumer benefits that a vibrant secondary market provides. With Professor Neil A. Doherty of the Wharton School of the University of Pennsylvania, Dr. Singer published a groundbreaking paper detailing the consumer benefits provided by a vibrant secondary market for policyholders who have “exercised their option.” They estimated that life settlement providers improved those policyowners’ welfare by over $240 million in 2002. In a more recent publication with Professor Joseph Mason of Louisiana State University, Dr. Singer used the tools of option theory to value the benefits of the secondary market for policyowners who have not yet exercised their option. Drs. Mason and Singer estimate that proposed legislation that would curtail all U.S. policyowners’ rights to sell their life insurance for five years would instantly eliminate between $41 and $63 billion in option value.
Related publications from Dr. Singer:
Reply to “The Life Settlements Market: An Actuarial Perspective on Consumer Economic Value” (prepared for Coventry First), co-authored with Eric Stallard (Nov. 15, 2005).
Economic Cost-Benefit Analysis of House Bill 404, Letter to The Honorable Senator Steve Stivers, Chairman of the Ohio Senate Insurance Commerce and Labor Committee (prepared for Coventry First) (May 5, 2008).
July 28, 2009
Empiris Partner Joseph R. Mason testified today before the Joint Economic Committee at a hearing entitled “Current Trends in Foreclosure and What More Can Be Done To Prevent Them.” His testimony focused on the proper economic role of loan servicers in the subprime mortgage market.
Dr. Mason urged regulators to require that loan servicers report adequate data so that investors may make informed decisions when buying securitized loans.
To read Dr. Mason’s testimony, please click here.
To read a related paper from Dr. Mason, please click here.
July 16, 2009
As wireless carriers look to data plans to grow revenue, access to the latest and greatest handset device has become crucial. AT&T pays Apple more than $300 per iPhone for the exclusive right to sell the device in the U.S. Consumers may purchase the device at the subsidized price, but they must commit to a two-year contract. Such exclusive agreements are coming under fire from government officials, who point to the markets of many European countries where consumers are free to choose from a number of service providers, but pay retail for the device.
Empiris President Hal Singer, along with Empiris Senior Experts Robert Hahn and Robert Litan, weighs in on the debate in “The Economics of Wireless Net Neutrality.” The authors find that exclusive distribution contracts properly motivate wireless operators to market handset devices. In the absence of exclusivity, a wireless operator might lack the incentive to invest sufficiently in brand development because other operators would free-ride on the efforts of the investing operator. Requirements that customers purchase their handsets in conjunction with a fixed duration of wireless service allow wireless operators to discount the price of the handset. These practices likely generate significant efficiencies that would be undone by regulations restricting exclusive distribution contracts.
Other related publications from Dr. Singer:
The Unintended Consequences of Net Neutrality, 5 Journal on Telecommunications & High Tech Law 533 (2007), co-authored with Robert E. Litan.
Net Neutrality: A Radical Form of Non-Discrimination, Regulation, Summer 2007.
Telecom Time Warp, Wall Street Journal, July 11, 2007, at A15, co-authored with Robert W. Crandall.
June 2, 2009
Empiris Chairman Jeffrey Eisenach will participate in a congressional seminar hosted by the Progress & Freedom Foundation on “Broadband Competition: Is the Glass Half Empty or Half Full?” to be held Friday, June 12th, at the Capitol Visitor’s Center.
The event will feature noted economists who will discuss their recent work on the state of broadband markets in the U.S. In particular, they will focus on whether the U.S. broadband markets are adequately competitive; finding the correct metric for determining if consumers are benefitting from today’s market; how market forces will be affected by increased funding from the American Recovery and Reinvestment Act; and how Congress will oversee the distribution of those funds.
To see an interview with Dr. Eisenach conducted after the event, click here.
June 1, 2009
Empiris Partner Ann Schnare participated in a panel discussion before the National Association of Home Builders (NAHB) directors regarding the future of the housing industry at the NAHB conference on May 30th in Washington, D.C.
Dr. Schnare discussed current conditions and trends in the mortgage market, including the role of the GSEs and FHA, and issues associated with the financing of rental properties.
To view Dr. Schnare’s study on the financial strength of FHA, please click here.
To view the updated study, please click here.
May 13, 2009
Empiris Chairman Jeffrey Eisenach will speak to the Mid-Atlantic Conference of Regulatory Utilities Commissioners (MACRUC) on June 22, 2009. The topic of Eisenach’s presentation will be “Bundled Telecommunications, Broadband & Video Services—What is the Role for the States?” Eisenach’s presentation will be part of a panel discussion at MACRUC’s Annual Education Conference, June 21-24, 2009, in Hershey, Pennsylvania.
Dr. Eisenach will discuss the regulatory implications of the bundled service packages offered by many cable companies, which provide several different services, each seemingly under the jurisdiction of a different government body, and the role – if any – of State public utility commissions in consumer service contracts, billing and disconnection disputes, service quality complaints, and network reliability oversight under this new “bundled” paradigm.
For more information on the MACRUC conference, click here.
May 8, 2009
Empiris President Hal Singer submitted written direct testimony to the Federal Communications Commission in support of the Mid-Atlantic Sports Network (MASN) in its carriage complaint against Comcast. The case is set for a hearing before an administrative law judge on May 18 and 19.
Dr. Singer finds that Comcast’s refusal to carry MASN on Comcast’s cable systems in three DMAs within MASN’s service territory, including the Harrisburg DMA, constitutes discrimination based on affiliation. Moreover, he finds that Comcast’s discriminatory conduct has impaired MASN’s ability to compete with Comcast’s affiliated sports networks, CSN-Philly and CSN-MA, for programming, advertisers, viewers, and distributors.
To read Dr. Singer’s redacted direct testimony, please click here.
May 1, 2009
Empiris Partner Wayne Leighton will participate in a Federal Communications Bar Association seminar regarding “The Future of Broadcast Spectrum—Opportunities and Challenges” on Tuesday, May 12, 2009, at Wiley Rein LLP in Washington, D.C.
Demand for premium spectrum continues to outstrip supply and increasingly, the demand is not just for broadcasting purposes, but for wireless broadband, public safety and other purposes. Dr. Leighton and his fellow panelists will look beyond the clamor of interest groups to discuss what services and content are most desired by the public. Another panel will discuss whether sufficient spectrum exists for various services and how that spectrum should be distributed.
To learn more, please click here.
To download the registration form, please click here.
April 20, 2009
Empiris President Hal Singer faced cross examination on April 15th and 16th before FCC Administrative Law Judge Richard Sippel regarding a dispute between the NFL and Comcast over carriage of the NFL Network.
Dr. Singer serves as an expert witness in the hearing, corroborating the NFL’s case that Comcast discriminated against the NFL Network by putting it on a sports tier while carrying the Comcast-owned Versus and Golf Channel on a basic tier. Comcast claims that it chose not to include the NFL Network on its basic tier because of the Network’s limited appeal and high price, but the facts suggest otherwise. Dr. Singer finds that the NFL Network receives substantially higher ratings than both Versus and the Golf Channel—the Comcast-owned sports networks carried on Comcast’s basic tier. Comcast’s assertion that it limited the NFL Network’s distribution on the sports tier to prevent its subscribers from having to pay for the expensive programming is equally dubious given its failure to lower prices after removing the Network from its basic tier.
Also testifying on behalf of the NFL was Paul Tagliabue, former Commissioner of the NFL and soon-to-be Chairman of Georgetown University’s Board of Directors.
To learn more, please click here.
To read Dr. Singer’s redacted written testimony, please click here.
April 9, 2009
Empiris Partner Wayne Leighton and Chairman Jeffrey Eisenach spoke at the 2009 ACLP AdvancedComm Summit on April 22nd in Washington, D.C. Leighton discussed wireless policies and how they could help or inhibit innovation and broadband deployment. Eisenach’s remarks addressed the extent of competition in the data-voice-video marketplace.
The Summit featured state regulators and policymakers from across the country, along with key Congressional staff, participants from the FCC, and select policy experts. The Advanced Communications Law & Policy Institute (ACLP) at New York Law focuses on identifying and promoting constructive debate of the key regulatory issues facing the wireline, wireless, broadband, and IP platforms, collectively known as the advanced communications sector.
To view a program brochure, please click here.
March 20, 2009
Empiris Chairman Jeffrey Eisenach finds that Congress does not need to reexamine retransmission consent in his new study, “The Economics of Retransmission Consent.”
Congress created retransmission consent in 1992 to ensure that broadcasters would be able to negotiate in a free marketplace for fair compensation for their programming. Dr. Eisenach examines retransmission consent from an economic perspective in this study and demonstrates that it achieves Congress’ intended purpose of establishing a market based mechanism to ensure that broadcasters receive an economically efficient level of compensation for the value of their signals. This compensation ultimately benefits consumers by enriching the quantity, diversity, and quality of available programming, including local broadcast signals.
To read the full study, please click here.
March 16, 2009
Empiris Partner Joseph R. Mason has released his eagerly-awaited white paper on servicer reporting, “Servicer Reporting Can do More for Modification than Government Subsidies.”
Servicing is nothing if not a service industry, motivating borrowers to pay the loans under the servicer's own management even when the borrower cannot afford to pay others. Customer service-based enterprises such as servicing are hard to evaluate quantitatively, so that proving a servicer's value is difficult even in the best business environment. Unfortunately, today's is not the best business environment, so proving servicer value has now become crucial to not only servicer survival, but the survival of the market as a whole. Regulators can therefore do a great service to both the industry and borrowers in today's financial climate by insisting that servicers report adequate information to assess not only the success of major modification initiatives, but also performance overall. The increased investor dependence on third-party servicing that has accompanied securitization necessitates substantial improvements to investor reporting in order to support appropriate administration and, where helpful, modification of consumer loans in both the private and public interest. Without information, even the most highly subsidized modification policies are bound to fail.
To read the full article, click here.
March 4, 2009
Empiris Chairman Jeffrey Eisenach will speak at a conference hosted by the National Chamber Foundation on March 4, 2009. The conference topic is “A Pro-Tech Agenda: Rebooting the Digital Economy,” and Eisenach’s remarks will focus on the broadband components of the American Recovery and Reinvestment Act. Eisenach, along with Empiris President Hal Singer and Vice President Jeff West, recently authored a study on The Economic Effects of Tax Incentives for Broadband Infrastructure Deployment.
For more information on the conference, click here.
February 26, 2009
Empiris Partner Joseph R. Mason is featured in this week’s Economist in an article analyzing the prospect of nationalizing American banks, “A ghoulish prospect.”
As the stock prices of America’s largest banks continue to fall, a serious debate of the merits of nationalization has taken shape. Although the Treasury insists its “strong presumption” is that banks will remain in private hands, some wonder whether pumping additional equity into largely insolvent banks will solve anything if it is not accompanied by a tightening of the rein. Mason asserts that “to keep recapitalizing hopelessly insolvent banks without more draconian measures merely necessitates further bail-outs.”
To read the full article, click here.
February 19, 2009
TR Daily, a news source that reports significant telecom business and policy developments, today announced that Wayne A. Leighton has joined Empiris LLC as a partner after ten years of service in senior advisory positions at the Federal Communications Commission and in Congress.
February 13, 2009
 Empiris Chairman Jeff Eisenach was interviewed on the Fox Business Network regarding broadband grants contained in the economic stimulus bill. Eisenach said the grants would not significantly stimulate the economy, and that the U.S. market for broadband is far more competitive and dynamic than many realize.
For a partial clip of the interview, click here.
February 9, 2009
Empiris Chairman Jeffrey A. Eisenach’s article, “An Event Analysis Study of the Economic Implications of the FCC’s UNE Decision: Backdrop for Current Network Sharing Proposals” was published last month by Commlaw Perspectus: The Journal of Communications Law and Policy at Catholic University of America’s Columbus Law School. The article, co-authored by James C. Miller III and Paul Lowengrub, presents an empirical analysis of the detrimental impact of the FCC’s UNE rules (repealed in 2003) on investment in telecommunications infrastructure, and explains that network neutrality and related “network sharing” rules now being considered could have similar detrimental consequences.
To view the article, click here.
January 28, 2009
The Practising Law Institute’s new course handbook, Telecommunications Policy & Regulation Institute 2008, features Empiris Chairman Jeffrey A. Eisenach’s article on “Broadband Policy: Does the U.S. Have It Right After All?” The course handbook was published in conjunction with the Practising Law Institute’s 26th Annual Institute on Telecommunications Policy & Regulation, which was held in December 2008.
Eisenach’s article finds that, contrary to the United States’ low rankings in the OECD’s statistics on broadband penetration, the relatively deregulatory American approach to broadband policy has produced highly desirable results, including high levels of investment and innovation, nearly ubiquitous broadband availability, high and increasing levels of penetration, falling prices, and high levels of consumer satisfaction.
To learn more, please click here.
January 12, 2009
Empiris economists Jeffrey Eisenach, Hal Singer and Jeffrey West find that investments spurred by tax incentives in next-generation broadband infrastructure, such as direct fiber connections, would generate immediate and long-term benefits for the U.S. economy. In the short run, increased capital investment leads directly to increased employment and output. In the long run, the rapid deployment of affordable broadband services transmitted over next generation infrastructure is essential to U.S. competitiveness.
The authors analyze four proposals with varying tax incentives. For example, allowing for 100 percent expensing of investments in next generation broadband networks would create approximately 215,000 jobs in each of the next three years and more than $100 billion in additional GDP over the next three years.
For a copy of the report, click here.
December 17, 2008
Empiris economists Joseph Mason, Hal Singer and Jeffrey West submitted comments to the Federal Deposit Insurance Corporation (FDIC) on behalf of a consortium of investment banks. Using an econometric model that controlled for a bank’s attributes, Mason, Singer and West demonstrated that the use of brokered deposits had no incremental explanatory power on the likelihood of a bank’s failure. Based on these results, the authors concluded that the FDIC should not impose an "brokered deposit adjustment" to its premium assessment.
For a copy of their comments, click here.
For a copy of their econometric appendix, click here.
December 3, 2008
Empiris Chairman Jeff Eisenach will address the Committee for Economic Development of Australia (CEDA) on December 3 at an event highlighting the release of CEDA's compendium, Digital Competition: An Alternative Broadband and Media Future for Australia. Dr. Eisenach's remarks will summarize his chapter in the report, Broadband in the U.S. -- Myths and Facts, which argues that "the relatively deregulatory American approach to broadband policy has produced highly desirable results, including high levels of investment and innovation, nearly ubiquitous broadband availability, high and increasing levels of penetration, falling prices, and high levels of consumer satisfaction. Indeed, the US model is producing better overall results than in countries which continue to pursue mandatory unbundling and other highly regulatory approaches. Moreover, the advantages of the American model are likely to grow more pronounced over time."
For a copy of Eisenach's paper, click here.
For more information on the event, click here.
November 18, 2008
Empiris Chairman Jeffrey Eisenach will speak at an event sponsored by the Commonwealth Rural Access Initiative in Abington, Virginia on November 18, 2008. Eisenach will address issues relating to rural economic development and broadband deployment. For further information, click here.
November 13, 2008
Empiris President Hal J. Singer is scheduled to speak on November 13 at the Wireless U. Communications Policy Seminar in Tampa, Florida. The seminar is being sponsored by the University of Florida Public Utility Research Center. Dr. Singer will debate Gigi Sohn of Public Knowledge in a session entitled “Markets and Regulation: How Do We Best Serve Customers?” Other speakers at the conference include Bryant Tramont (Wilkinson Barker Knauer), Steve Largent (CTIA), Paul Rappoport (Temple University), and Mark Jamison (University of Florida). Additional information about the conference may be downloaded here.
October 17, 2008
Jeffrey A Eisenach, Chairman and Managing Partner at Empiris LLC is scheduled to speak on October 17, 2008 at the conference Recalibrating Regulation in a Broadband World, which is sponsored by Advanced Communications Law & Policy Institute at New York Law School. Both the agenda for the conference and Dr. Eisenach’s paper The Telecom Sector and the Economy: How U.S. Broadband Policies Are Working for America are available for download.
Recalibrating Regulation in a Broadband World: Policy Consideratuins for Lawmakers
The Telecom Sector and the Economy: How U.S. Broadband Policies Are
Working for America
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