Word: sectoral
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...Labor government's decision to run fiber to the home (FTTH) also has a political aim: to break the grip of the national carrier, Telstra, on the country's telecommunications sector. The decade-long process of privatizing Telstra ended in 2006, but the company has continued to enjoy the legacy of almost a century as a state monopoly, reaping 90% of the profits from country's $28 billion communications industry...
...Telstra is expected to be a major investor in the NBN, which the government will build in partnership with the private sector while retaining a majority share. Like any successful telco, Telstra recognizes a good business opportunity - and when the rules of the game have fundamentally changed...
...last three quarters cannot be recouped in the dozen quarters that lie immediately ahead, if Phelps view, which is a remarkably dark vision of America's future, is right. This desperate image of the national economic life assumes that the innovative power of American business cannot build another huge sector the way that it did in the 1970s with the rise of the great technology companies like Microsoft (MSFT), Intel (INTC), and Cisco (CSCO), and twenty years later Google (GOOG) and the second reincarnation of Apple (AAPL), which was built on nothing more than the ingenuity behind the iPod...
Industry officials now want governments to start looking at the sector not just as a symbol of the frothy good times - but as a way to get economies back on track. "What are governments trying to do in a recession? They're trying to create jobs," Lipman says. "They say, 'Let's bail out the car manufacturers, let's do something about the banks,' and they forget about the major opportunity they have with the travel sector...
...surprisingly, the already battered travel industry is eager to capitalize on the trend. Carroll Rheem, director of research at PhoCusWright, a consulting firm in Sherman, Conn., that follows the travel sector, says pink-slip trips are particularly common among those who receive sizable severance packages - i.e., the lawyers and Wall Street types who are confident they'll find another job soon enough. ?If they have the time and they have the money, people are stepping back after a lay-off and thinking, 'Hey, why not?" she says...