Verizon goes buying spectrum

In my earlier posting on spectrum, I noted that the cable companies are heavy investors in broadcast spectrum. That includes what they bought in the 2006 FCC auction. Now comes word that some of the cable companies are selling spectrum to Verizon. And, according to the Wall Street Journal, Verizon is paying top dollar:

JPMorgan analyst Philip Cusick said Verizon would be paying about 54% more for the block of spectrum than the cable companies paid in 2006.
Verizon said it will pay $2.3 billion to Comcast, $1.1 billion to Time Warner and $189 million to Bright House.

Not sure that this is a start of the bidding war — but . . .

November employment

Good news on employment for November. BLS is reporting this morning that nonfarm payroll employment grew by 120,000 and the employment rate dropped to 8.6%. In addition, data for both September and October were revised upwards (to gains of 210,000 and 100,000 respectively), showing a stronger economy that previously thought. The November job number was about what economists had predicted. The drop in the unemployment rate was a surprise however. The size of the drop is in part due to a decrease in the size of the civilian labor force.
The other good news is that the total number of workers part-time for economic reasons, the number of workers part-time because of slack work and the number of workers who could only find part-time work all continued to decline.