Powell drops hammer at Exchange - Broadcasting & Cable

Powell drops hammer at Exchange

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Federal Communications Commission chairman Michael Powell brought down the
gavel on the New York Stock Exchange Friday.

Down was the operative word: The Dow Jones Industrial Average closed down 188
to 7,528, its lowest level since Powell was a fledgling commissioner four years
ago.

It was a Big Apple-heavy week for the chairman, who spoke at a Goldman Sachs
investor conference there Oct. 2 and appeared on Neil Cavuto's Fox News Channel show
Friday (Oct. 4), where he said the EchoStar Communications Corp.-DirecTV Inc.
decision should come "soon."

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