During his keynote address this morning Verizon President and CEO and CTIA Chairman Lowell McAdam touted the competitive nature of the wireless industry and said there is no need for regulation. ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œWe must discard the baggage and get rid of industry policies. We have to embrace the new entrants that fuel the innovation engine,ÃƒÂ¢Ã¢â€šÂ¬Ã‚Â McAdam said. McAdam said that during the past year the wireless industry has invested 24 billion in infrastructure equipment and employed 3.5 million. The U.S. is now between 80 percent and 90 percent penetrated but McAdam urged the industry to not look at this as the ceiling of the industry but the basement to 4G.