Word: sectored
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...benefits of competition in the passenger sector are murkier. The British experience has been horrendous. Britain completed the privatization of its rail system in 1997, breaking the formerly integrated network known as British Rail into more than 100 different firms. At the center was Railtrack, which had the task of maintaining the tracks, signals and stations. It contracted out the work, resulting in spiraling costs and a record of erratic maintenance that had fatal consequences, including a 1999 collision between two trains outside Paddington Station in London that killed 31 people. Criticism of the safety record was heightened...
...came as a surprise to colleagues. Close friend Roswell B. Perkins ’47 said Rothschild felt a need to leave the corporate world behind—a compulsion rare at the time—to spend the remainder of his career working in the public sector...
...interested in business,” Chen said. “He’s had a couple of jobs in the private sector...
...systems software. As Oracle's new executive vice president, he will draw on that customer perspective--and on 17 years as an industry analyst, most recently at Morgan Stanley. Phillips has been more bullish on Oracle's stock than most, but he was heralded by Institutional Investor as the sector's top analyst nine years in a row. At Oracle, he will keep up his industry contacts (read: customers and competitors) and help shape strategy...
...Berlin has withdrawn from the association of German public employers, which agreed to a 4% wage increase for civil servants nationwide earlier this year. Economy Minister Harald Wolf says Berlin is instead offering wage cuts in exchange for not firing thousands of workers. Roland Tremper of the Verdi public sector trade union calls this "a stab in the back for all employees." The grim mood extends far beyond the arcane details of the city budget. Last week Berliners solemnly marked the 50th anniversary of a nationwide workers' uprising in East Germany that was brutally suppressed by Soviet tanks on June...