| 00:00:31 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
TODAY, WE MEET TO CONSIDER A MERGER THAT IS LIKELY TO HAVE PROFOUND IMPLICATIONS ON HOW AMERICANS COMMUNICATE. THE PROPOSED MERGER BETWEEN AT&T AND...
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| 00:05:13 |
Lee, Michael "Mike" S. - U.S. Senator, [R] Utah
THE LARGE NUMBER OF WITNESSES THAT WE HAVE PARTICIPATING IN THIS HEARING AND THE COMPLEXITY OF THE ISSUES WE WILL BE CONFRONTING, WILL KEEP MY OPENING...
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| 00:11:02 |
Leahy, Patrick J. - U.S. Senator, [D] Vermont
THANK YOU, MR. LEE. WE TURN -- THANK YOU, MR. CHAIRMAN. >> THANK YOU, MR. LEE. >> I THINK YOU BOTH FOR HOLDING THIS HEARING. I WILL ASK CONSENT THAT THE...
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| 00:17:16 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
THIS HEARING. IT IS EXTREMELY IMPORTANT. >> WE WILL NOW TURN TO OUR RANKING MEMBER, SENATOR GRASSLEY. >> CLEARLY, THIS IS A VERY IMPORTANT MATTER THAT...
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| 00:19:18 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
LIKE TO COME BACK AND ANSWER QUESTIONS WITHOUT LOSING MY TURN IF I COULD. THANK YOU. >> THANK YOU VERY MUCH, SENATOR GRASSLEY. WE WOULD LIKE NOW TO INTRODUCE...
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| 00:21:07 |
Stephenson, Randall L. - Chair and CEO
ASKED THAT THE PANELISTS LIMIT THEIR COMMENTS TO 5 MINUTES. MR. STEVENSON. >> THANK YOU, CHAIRMAN COLEKOHL. I APPRECIATE GET TO NEED TO TALK WITH YOU...
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| 00:25:43 |
Humm, Philipp - President and CEO
THANK YOU, MR. STEVENSON. MR. HUMM. THE MANAGEMENT OF T-MOBILE HAS IMPLEMENTED A NEW STRATEGY THAT WILL HAVE COMPANY-BACK TO GROWTH. REID TURNING THE...
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| 00:32:42 |
Hesse, Dan - Chief Executive Officer
THE IMPACT OF THIS COMPETITION ON OUR ECONOMY HAS BEEN PROFOUNDLY POSITIVE. THERE WAS $25 BILLION IN CAPITAL INVESTMENT. IF THE INDUSTRY REMAINS COMPETITIVE,...
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| 00:36:56 |
Meena, Victor - President and CEO
HESTONHESSE. >> THANK YOU FOR INVITING ME TO BE HERE TODAY. I HAVE BEEN IN THIS INDUSTRY FOR 23 YEARS. WITH A LOT OF HELP, I HAVE LITERALLY BUILT THEIR...
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| 00:42:05 |
Sohn, Gigi B. - Co-Founder and President
MUCH >> THANK YOU FOR THE OPPORTUNITY TO BEAT UP -- THANK YOU VERY MUCH. >> THINK YOU VERY MUCH FOR THE OPPORTUNITY TO SPEAK. I WOULD LIKE TO BEGIN WITH...
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| 00:46:54 |
Cohen, Larry - President
COHN, REPRESENTING THOUSANDS OF WORKERS IN BOTH THE NETWORK AND THE CONTENT SIDES OF THIS INDUSTRY. WE LOOK FORWARD TO THIS REVIEW. AT THE END OF THESE...
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| 00:55:17 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
I TAKE YOUR COMMENTS TO MEAN THAT YOU HAVE REAL CONCERN ABOUT YOUR ABILITY TO MAINTAIN YOURSELF AS A NATIONAL COMPETITOR IN THE MARKET TO -- AND THE...
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| 00:56:16 |
Stephenson, Randall L. - Chair and CEO
TWO BELLS AND THEY WOULD ALWAYS GIVE FIRST. BECAUSE OF THEIR SIZE AND SCALE IN TERMS OF INNOVATION. WHAT THIS HEARING -- WHAT HAS NOT BEEN DISCUSSED...
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| 00:58:16 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
SCARCITY. YOUR CHIEF TECHNOLOGY OFFICER THIS YEAR STATED, I THINK THERE HAS BEEN A BELIEF -- THAT IS NOT THE CASE IN THE NEAR TERM OR THE MEDIUM TERM....
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| 00:59:14 |
Hesse, Dan - Chief Executive Officer
NETWORKS. WE CANNOT START THE ROLL OUT BECAUSE WE DO NOT HAVE THE SPECTRUM. THE OTHER THING THAT IS IMPORTANT TO REALIZE IS BACKED -- IT HAS TAKEN TWO...
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| 01:01:47 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
BECAUSE OF THE DATA, WE NEED 20 MEGAHERTZ OF CONTINUOUS -- CONTINUOUS SPECTRUM. WE'VE GOT A NUMBER OF PLACES TO PIECE TOGETHER THIS FOOTPRINT. WE WENT...
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| 01:02:20 |
Humm, Philipp - President and CEO
A BLOCK OF SPECTRUM THAT WE WERE ABLE TO APPEAR TOGETHER WITH WHAT WE BOUGHT FROM THE FCC. WE STILL A NUMBER OF MARKETS WHERE WE DO NOT HAVE A FOOTPRINT....
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| 01:03:52 |
Lee, Michael "Mike" S. - U.S. Senator, [R] Utah
BECAUSE THEY'RE DOING LEAPFROG APPROACHES. DANCE COMPANY OWNS THE MAJORITY POSITION UNCLEAR WIRE. DAN'S COMPANY OWNS THE MAJORITY POSITION IN CLEARWIRE....
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| 01:07:24 |
Stephenson, Randall L. - Chair and CEO
ROLE AS A ROBUST COMPETITOR IN A POST MERGER MARKET? >> IN TERMS OF CONTINUING TO IMPROVE THE DISADVANTAGES WE HAVE IN AREAS LIKE SPECIAL ACCESS, MIGHT...
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| 01:12:38 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
THERE IS ANOTHER WEB PAGE EXPLAINING THAT AT&T IS SUPERIOR BECAUSE THEY DO NOT HAVE A NATIONAL NETWORK. MY FIRST QUESTION IS, DOES AT&T STILL DIFFERENT...
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| 01:13:28 |
Stephenson, Randall L. - Chair and CEO
HANDSETS SELECTIONS OVER THE VARIOUS GEOGRAPHIES. OUR COMPANY IS SET UP, WE HAVE ORGANIZED THIS COMPANY TO COMPETE ON A LOCALIZED BASES. I OF FOLKS...
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| 01:17:52 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
THE COVERAGE AREA. WHAT EFFECT THE MERGER HAVE ON THE PLACES WHERE YOU HAVE TO PAY? >> I CAN TAKE THAT ONE. SORRY. >> IT DOES NOT MATTER. EITHER ONE OF...
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| 01:19:23 |
Sohn, Gigi B. - Co-Founder and President
IMPORTANT. >> MR. STEVENSON? >> IN RESPONSE TO THE RUNNING, WE HAVE A NUMBER OF ROWLING DEALS OF AROUND THE U.S. FOR PROVIDERS. THE FCC RULES HAVE ESTABLISHED...
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| 01:20:31 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
TODAY. THAT IS THE ELEGANT OF THIS TRANSACTION. WE WILL BE ABLE TO DO A NUMBER OF THINGS AND -- TO FREE UP SPECTRUM. DELILAHS TO PREGNANT INTO THE SPECTRUM...
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| 01:21:36 |
Meena, Victor - President and CEO
GET TO 97%, IT HAS TO GO TO 55% OF THE LAND MASS COVERED. THAT IS WIDE SPECTRUM IS SO VITAL AND CRITICAL. THAT IS WHY WE THINK IT IS SO IMPORTANT. >>...
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| 01:23:04 |
Stephenson, Randall L. - Chair and CEO
DO. >> THIS WILL BE MY LAST QUESTION. IN 2008, THE JUSTICE DEPARTMENT APPROVED A MERGER BETWEEN VERIZON WIRELESS AND ALTEL. WHAT ARE THE DIFFERENCES AND...
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| 01:27:23 |
Hesse, Dan - Chief Executive Officer
RAISE PRICES FOR AMERICAN FAMILIES AND MAY COST THOUSANDS OF JOBS. I HOPE WE WILL HOLD A SECOND HEARING ONCE WE HAVE MORE SOLID ECONOMIC DATA.
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| 01:27:37 |
Stephenson, Randall L. - Chair and CEO
I WANT TO FOLLOW ON YOUR COMMENTS ON THE NATIONAL ASPECT OF THIS DEAL. I WANT TO ASK TWO QUESTIONS I WANT A YES OR NO ANSWER TO. AFTER THAT, I PROMISE...
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| 01:29:14 |
Franken, Al - U.S. Senator, [D] Minnesota
ISN'T TRUE THAT U.S. THE SIGNIFICANT GROWTH IN NEW CUSTOMERS IN LARGE PART BECAUSE YOU ARE ABLE TO NEGOTIATE AN EXCLUSIVE HANDSETS DEAL FOR THE IPHONE...
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| 01:32:27 |
Stephenson, Randall L. - Chair and CEO
THEY OWN AND CONTROL THE AND THE STRUCTURE THAT WAS BUILT BY LABELLE -- MA BELL? HAVE YOU SEEN THE EFFECTS OF THIS OVER THE LAST 15 YEARS AS AT&T HAS...
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| 01:38:22 |
Cornyn, John - U.S. Senator, [R] Texas
VERY IMPORTANT WIRELESS OPERATING SYSTEM THAT THEY HAVE DEVELOPED, COMBINING THAT WITH A VOICE-OVER CAPABILITY NOW. THIS IS GOING TO BE A VERY EXCITING...
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| 01:40:37 |
Stephenson, Randall L. - Chair and CEO
CUSTOMERS. WE'RE THE FIRST WITH 4G. GOOGLE AND APPLE AND MICROSOFT, ALL OF THESE INNOVATIVE COMPANIES, THEY DEVELOPED ON OUR SHORES FOR A REASON. THIS...
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| 01:43:11 |
Hesse, Dan - Chief Executive Officer
THE 3% IS A MUCH MORE MANAGEABLE OBJECTIVE THAN THE 20 OR 10% YOU'RE TALKING ABOUT NOW. THIS IS A VERY ELEGANT POTENTIAL TO ADDRESS PUBLIC POLICY OBJECTIVE...
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| 01:45:57 |
Stephenson, Randall L. - Chair and CEO
PRETTY GOOD EVIDENCE? YOU BACKSEAT AT&T AS A COMPETITOR. >> -- YOU SEE AT&T AS A COMPETITOR. >> WE SHALL THE CUSTOMERS THE SAVINGS THAT THEY CAN MAKE....
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| 01:47:01 |
Hesse, Dan - Chief Executive Officer
ARE NOT OUR COMPETITIVE FOCUS. >> CONSUMER ADVOCATES ARGUE THAT ONE OF THE MOTIVATIONS FOR THIS DEAL WAS TO REMOVE THE PRICE COMPETITION OFFERED BY T-MOBILE....
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| 01:47:31 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
THE FOCUS OF OUR COMPETITION RIGHT NOW IS AT THE HIGH END OF THE MARKET. FRANKLY, WE ARE LIMITED IN CAPACITY. WE ONLY HAVE A CERTAIN AMOUNT OF CAPACITY...
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| 01:48:04 |
Humm, Philipp - President and CEO
YOU ARGUE THAT WE SHOULD EXAMINE THIS ON A LOCAL MARKET TO MARKET BASIS. I FIND THIS CLAIM REMARKABLE AS THIS IS DIRECTLY OPPOSITE FROM THE POSITION...
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| 01:48:32 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
AT&T WIRELESS ARGUED THAT A TO A DOZEN FOR A MERGER WAS SINGULAR. AT&T ARGUED AND A MERGER -- THE EVIDENCE SHOWS THAT THE DOMINANT FORCES DRIVING COMPETITION...
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| 01:49:30 |
Humm, Philipp - President and CEO
YOU WOULD ALWAYS ARGUE THAT WHAT YOU ARE WANTING TO DO IS SOMETHING IN THE NATIONAL INTEREST. THAT IS OKAY. YOUR YOUR TO RUN A BUSINESS AND I AM A BUSINESSMAN...
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| 01:49:42 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
A BUSINESS DEAL. THIS IS A BUSINESS DEAL TO MAKE YOUR COMPANY MORE SUCCESSFUL UNDER MORE PROFITABLE, AND TATARSTAN THAT. WISH TO DISCUSS IT IN THAT CONTEXT...
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| 01:50:06 |
Stephenson, Randall L. - Chair and CEO
THE DISCUSSION IT SHOULD BE HANDLED ON THAT LEVEL RATHER THAN TO TRY TO SAY THIS IS SOMETHING IN THE NATIONAL INTEREST. I READ A FEW QUESTIONS. IT RELIES...
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| 01:53:43 |
Lee, Michael "Mike" S. - U.S. Senator, [R] Utah
TO -- THE FCC WILL REQUIRE US TO OPEN OUR NETWORKS UP. THAT IS A COST THAT I DO NOT UNDERSTAND WHY OUR CUSTOMER NEEDS TO INCUR. AT THE END OF THE DAY,...
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| 01:54:23 |
Meena, Victor - President and CEO
BUT WE WILL OPEN OUR NETWORK UP. >> THAT IS IS NOT CORRECT. WE'RE NOT LOOKING FOR AT&T ROTO ROAM ON OUR NETWORK. WE WOULD LIKE TO ROAM ON THEIRS. THE...
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| 01:56:37 |
Stephenson, Randall L. - Chair and CEO
ME UNDERSTAND WHY SOME OF THESE REGIONAL CHARACTERS WOULD IN THIS -- WOULD GIVE THIS AS THE END OF THE WORLD AS WE KNOW WHAT. I AM NOT FAMILIAR WITH...
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| 01:57:58 |
Meena, Victor - President and CEO
A RAGGED THE TORY ENVIRONMENT. FROM A BUSINESS PERSPECTIVE, IT MAKES NO SENSE. IT IS ALL ABOUT NATIONAL MARKETS. >> THANK YOU. WE TALKED IN THIS SENATE...
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| 02:00:44 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
SHARE. THIS DATA CONFIRMS WHAT MOST PEOPLE ASSUME THAT AT&T IS COMMITTED ITSELF TO USING
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| 02:00:53 |
Meena, Victor - President and CEO
EXCLUSIVE CONTRACTS TO ATTRACT CUSTOMERS. IF THIS MERGER IS APPROVED, NOT ONLY WOULD AT&T HAVE 44% OF ALL U.S. WIRELESS SUBSCRIBERS, BUT THEY WOULD...
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| 02:01:33 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
PRODUCT TO MARKET FASTER. WHEN THE MARKET PLACE IS UTILIZING THIS CAPABILITY IS, WE WILL PROBABLY PRODUCE A PAGE AS WELL. YOU ARE SEEING FEWER AND FEWER...
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| 02:02:02 |
Stephenson, Randall L. - Chair and CEO
IS A DYNAMIC MARKETPLACE. >> WILL AT&T COMMIT TO OFFER DATA AT RUNNING THE AGREEMENT AT REASONABLE RATES? >> OF COURSE, WE WILL. THAT IS THE LAW. >>...
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| 02:04:04 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
I DOUBT THAT CARRIED ON THE WHOLE, U.S. CITIZENS PAY MORE. IT IS IRONIC THAT EVERY TIME THERE IS A CITY THAT THE U.S.'S 25TH OR 20TH, THEY SAY THOSE...
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| 02:04:50 |
Stephenson, Randall L. - Chair and CEO
TO POINT OUT THAT I TALKED ABOUT THE GLOBAL BROADBAND. WHAT IS THE INDUSTRY? IT IS WIRELESS. IT IS WELL DOCUMENTED. THE REPORT DID ABOUT THE U.S. LAGGING....
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| 02:05:49 |
Meena, Victor - President and CEO
THAT IS A LARGE REASON WHY WE THINK THERE IS THAT KIND OF AN OPPORTUNITY. >> THE ONE THING THAT I'M SURE WE CAN DO MORE DISCUSSIONS
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| 02:06:06 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
ABOUT IS THE NUMBERS. THEY SHOW THAT THE INVESTMENT HAS GONE DOWN. COMPETITION HAS GONE DOWN. NO ONE WANTS MORE THAN ME TO STOP HAVING DROPPED
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| 02:06:20 |
Sohn, Gigi B. - Co-Founder and President
CALLS. WE HOPE THAT ONE OF THEM WEREWILL WORK. I AM NOT CONVINCED THAT LESS COMPETITION WILL GET US THERE. >> THEY INVESTED ONE%. HORIZON HAS INVENTED...
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| 02:08:16 |
Cohen, Larry - President
BUSINESS. THE STATEMENT IS INACCURATE. >> THANK YOU. >> THANK YOU VERY MUCH. SOME SAY THAT IF IT IS APPROVED IT WILL LIKELY BE APPROVED WITH A NUMBER...
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| 02:09:32 |
Klobuchar, Amy - U.S. Senator, [D] Minnesota
MARKETS. THE CENTENNIAL MERGERS STARTED TO LOOK AT THE MARKET. THE MARKET HERE IS NATIONAL. I SUSPECT THEY WILL LOOK AT THAT BASED ON THE FACTS OF THIS...
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| 02:10:00 |
Sohn, Gigi B. - Co-Founder and President
NOT THINK WE ARE THAT DIFFERENT. 99.7% OF OUR CUSTOMERS ARE ON NATIONAL RATE PLANS. 99% OF OUR ADVERTISING IS NATIONAL. BUSINESS CUSTOMERS WANT TO CEDE...
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| 02:10:43 |
Hesse, Dan - Chief Executive Officer
DO PERONIST STORES. -- THEN WE DO IN OUR OWN STORES. >> WE DECIDED TO GO TO THE MODEL. THE REGIONAL DIFFERENCES ARE TOO BIG. WE WENT TO AN ORGANIZATION...
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| 02:11:16 |
Stephenson, Randall L. - Chair and CEO
TAKE THIS COMPANY. IT IS 0% MARKET SHARE. 21 SOME COULD BE THERE. IT SHOWS YOU HOW DIFFERENT WE ARE.
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| 02:11:57 |
Kohl, Herbert "Herb" H. - U.S. Senator, [D] Wisconsin
THANK YOU FOR BEING WHOM. --
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| 02:12:24 |
Sohn, Gigi B. - Co-Founder and President
HERE. [CAPTIONING PERFORMED BY NATIONAL CAPTIONING INSTITUTE] [CAPTIONS COPYRIGHT NATIONAL CABLE SATELLITE CORP. 2011] >>
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| 02:13:23 |
Hesse, Dan - Chief Executive Officer
AND
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.