Schneider operator operator ‘in trouble’ after $15M in expenses
OPERATING EXPENSES Schneiders operators, including owner operator Larry Schneider, have received a combined $15.2 million in operating expenses, the Federal Aviation Administration has said.
Schneiders operating expenses were reported for the first time in December, according to a FAA report obtained by AP.
That was after Schneider received a $5.3 million contract for $10 million from the Federal Communications Commission to operate the Federal Communication Commission’s digital-radio frequencies.
Schroeder was among the most vocal critics of the FCC’s plan to auction spectrum on behalf of broadcasters.
The auction process will take place at the end of March.
The Federal Communications Commision plans to auction the most valuable spectrum in the country for about $1.4 billion, the largest ever auction of radio spectrum.
The FAA’s latest disclosure showed that the operation of Schneaders own-owned antenna equipment was $3.4 million in the second quarter.
This was the first quarter that Schneiers operating expenses had not exceeded $15 million.
The FAA says it will continue to investigate the FAA’s audit findings.
In its announcement, the FAA said it found “significant” flaws in Schneider’s accounting practices and the way it allocated funds.
The agency said Schneider did not properly report the cost of his own equipment and had failed to account for the costs of its other business operations.