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***SNS*** The Telequipment Sector: A Lesson in Economic Destruction
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SNS Book Selection: Top Secret America: The Rise of the New American Security State, by Dana Priest and William Arkin; published by Little, Brown.
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The Telecoms Equipment Sector: An Object Lesson in (Non-Schumpeterian) Economic Destruction
There was a time in human memory when Lucent was the big kid on the block. A hot company, a hot stock to own, run by some very savvy executives. Its top salesperson, a woman named Carly Fiorina, was so hot she was able to break the glass ceiling and grab the CEO ring in the Valley's most treasured company, Hewlett-Packard.
Lucent was King of the Hill: an exciting company that seemed to be minting money, and no surprise: it was smack in the strategic center of building out the Internet. It was in telecoms equipment.
Sounds kind of funny now, doesn't it?
Today, any non-Chinese company unfortunate enough to be in - or to have been in - that sector is either dead or dying. |
Recent Issuesscott2022-09-20T16:01:24-07:00
SNS: The Telequipment Sector: A Lesson in Economic Destruction