Word: telstra
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Melbourne-based Telstra's new CEO, Sol Trujillo, 53, will need to steer the telecom giant through some daunting challenges, namely Parliament, privatization and protocol. An IP-based network might help Telstra remain competitive and fully integrated. But a stagnant share price and warnings of an industry slowdown might push the former head of US West to cut costs (and jobs) as the government sells its remaining 51.8% stake, worth $25 billion. More foreign investment could raise Telstra's share price. That, and other regulations, should be decided by Parliament in August...
...time of buoyant revenues, Costello could have retired more debt and spent more on public investment that will sustain future growth - in infrastructure and human capital. Indeed, these surpluses have been slight exercises in prudence in an era of prosperity. Asset sales, such as the partial float of Telstra, have helped create the illusion of fiscal frugality. Other than two hard years of spending cuts to rein in Labor's excesses, Canberra has barely been squeezed. Compared with the hard, lean predators who dominated the Expenditure Review Committee in the Hawke-Keating years (1983-96), the incumbents are pussycats...
...World Cup will be the longest party ever. The Olympics are crammed into a fortnight; soccer's pinnacle event takes a month. The Rugby World Cup unfolds over six weeks as 20 nations contest 48 Tests in 10 cities. The Nov. 22 final will be held at Telstra Stadium, which the world will recognize as the centerpiece of Sydney's 2000 Olympics. And how appropriate. Australia at those Games showed how a small player in world affairs could, through determination and planning, change the way others saw it. Now rugby - long pigeonholed as an élitist sport played and supported...