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Aug 2, 2011

Smartcompany News: Revealed: The value of Australia’s internet economy, 5 lessons from Vodafone’s customer exodus, Manufacturer collapses, Dunk Island faces closure

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Today on SmartCompany we extract the customer service and management lessons from Vodafone’s horrible first half, where they lost $78 million and 375,000 customers. We also look at the struggle to get iconic Queensland holiday spot Dunk Island back on its feet and examine the collapse of a Victorian manufacturer. Plus in Entrepreneur Watch, James Thomson looks through the economic gloom at what smart companies are doing to stay upbeat.
Top Story
Revealed: The real worth of Australia's internet economy
We all know that the internet has had a huge impact on Australia's economy. Now we know just how huge. BY BRAD HOWARTH.
Australia's internet economy

Industry Trends
A bitter pill to swallow
Industry players in Australia's pharmaceutical sector will need to adapt as some drugs lose patent protection. BY IBISWorld.
Bitter pill to swallow

Aunty B
My new employee is a little too enthusiastic. Help!
Are you nuts? You don't want to offend him? What about the crime he is committing on every customer that walks through your door?
Aunty B

Islands of Profit
Jonathan Byrnes
The best way to secure and grow a key customer relationship is to integrate your operations with those of your customer.
Jonathan Byrnes

The Digital Bottom Line
Brendan Lewis
Cutting costs and only competing on price is a death spiral. Always has been, always will be.
Brendan Lewis

Property Investor
Michael Yardney
With the residential property market going through a crisis of confidence at present, home buyers and investors are sitting on the sidelines.
Michael Yardney

Entrepreneur Watch
James Thomson
Global markets are just waking up to the fact this recovery will be long.
James Thomson

Internet's $50bn GDP boost : The Ping Newsletter

Ping Newsletter

Internet's $50bn GDP boost
THE internet is fast growing into one of the nation's strongest economic contributors.
Internet set to click-start economy
THE rise of the internet in the local economy could be the answer to the nation's worrying productivity growth rate.
Hacked firms could be held responsible
THE federal government is considering changing the law so corporate victims of computer hacking can be sued over privacy breaches.
Computer giants keep Tabs on court
AUSTRALIA is at the centre of an international court battle between computing giants Apple and Samsung
Vodafone fails to ring up profit
Vodafone Hutchison Australia will be unable to lift its profit in the next six months to offset losses from the first half.
Samsung goes ahead with Galaxy launch
SAMSUNG will launch its Galaxy 10.1 tablet locally despite a Federal Court order prohibiting the sale of a variant in Australia.

NYT: Breaking News: Senate Fails to End Partial Shutdown at F.A.A

Breaking News
The New York Times
Tuesday, August 2, 2011

After dealing with the debt crisis, Senate negotiators tried and failed Tuesday to end a stalemate over temporary funding for the Federal Aviation Administration, leaving 4,000 F.A.A. employees out of work and relying on airport safety inspectors to continue working without pay.

The partial F.A.A. shutdown, which began July 23 and is likely to continue at least through Labor Day, has also idled tens of thousands of construction workers on airport projects around the country. Dozens of airport inspectors have been asked by the F.A.A. to work without pay and to charge their government travel expenses to their personal credit cards to keep airports operating safely.

Read More:

The Australian Capital Circle: New NBN debate as Labor looks for wins

Capital Circle Newsletter
New NBN debate as Labor looks for wins
The political focus shifts to broadband today as Labor lauds its achievements in a "year of decision and delivery".

Julia Gillard is in Melbourne where she'll launch the memoirs of former Victorian police commissioner Christine Nixon at 10am. She has several events later in the day in the electorate of Deakin, held by Labor's Mike Symon.
Tony Abbott is on holidays in Europe. Acting Opposition Leader Julie Bishop is in Sydney where she was interviewed by ABC 24 Breakfast. She'll do some radio interviews and travel to Perth for a function tonight.
Broadband stoush: Opposition communications spokesman Malcolm Turnbull will give further details on the opposition's broadband policy at the National Press Club today. He told the ABC's AM program this morning that the Coalition wouldn't tear up Labor's network if it won office. "All of the NBN infrastructure will remain in place and we will ensure that its value is maximised," he said. Communications Minister Stepehn Conroy will attend a telecommunications forum in Sydney this morning. He told AM that arguments about NBN take-up rates were spurious, as all households would have to be connected if they wanted fixed line phones.
Delivery: Hot on the heels of yesterday's health deal, ALP secretary George Wright has released a new glossy brochure titled "Making a Difference". It lists Labor's key achievements in office and outlines its "historic purpose". "We set our alarm clocks early because we know that to be in government is a great honour and privilege," Julia Gillard says in the foreword. Labor wants voters to know it's doing things, spinning 2011 as the "year of decision and delivery". There's 21 pictures of the PM in just 24 pages, but only one of Kevin Rudd and two of Wayne Swan.
Friends: We were wondering how Julia Gillard came to be launching Christine Nixon's memoirs, given the rancour they've sparked in Victoria. Someone reminded us that her chief-of-staff Ben Hubbard was the former chief executive of the state's Bushfire Reconstruction & Recovery Authority, which Ms Nixon chaired. But

Moody's confirms U.S.'s triple-A rating: MarketWatch | U.S. Debt Risk - Market Pulse

By Sue Chang 
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service late Tuesday confirmed the U.S.'s triple-A rating following the increase in its debt ceiling. However, the rating agency assigned a negative outlook on the rating. "The initial increase of the debt limit by $900 billion and the commitment to raise it by a further $1.2 trillion to $1.5 trillion by year-end have virtually eliminated the risk of such a default, prompting the confirmation of the rating at Aaa," Moody's said in a statement. The ratings agency also said the debt deal is the first step in long-term fiscal consolidation that is the key in maintaining the sovereign rating at triple-A. Moody's also warned that the negative outlook indicates that there is a risk of a downgrade if the U.S. fiscal environment weakens further and its economic outlook deteriorates significantly.

The Australian Business Briefing: Coles bulks up for liquor war

Coles bulks up for liquor war
Coles bulks up for liquor war Blair Speedy SUPERMARKET giant Coles is planning a massive expansion in the liquor market as it escalates its fight with rival Woolworths.
ASIC puts accountants on notice
Greg Yanco Richard Gluyas ACCOUNTANTS are in ASIC's sights as the insider-trading crackdown widens to include the security of information held by advisory firms.
Inflation outlook a concern for RBA
Glenn Stevens Scott Murdoch THE RBA could raise official interest rates in the next few months as the threat of inflation continues to worry the central bank.
Internet set to click-start economy
Internet computer Mitchell Bingemann THE rise of the internet in the local economy could be the answer to the nation's worrying productivity growth rate.
Guru tips agricultural commodities
wheat Matt Chambers RENOWNED commodities bull Jim Rogers says he sees higher returns from agriculture than other commodities.
Bruised HSBC warns on outlook
BRITAIN-HONGKONG-BANKING-COMPANY-EARNINGS-HSBC Richard Gluyas A sharp fall in profit is part of a much bigger economic picture for HSBC.
High dollar drive students away
Rod Jones of Navitas Teresa Ooi FOREIGN students are abandoning Australia and flocking to Canada amid growing uncertainty over visas and the high Australian dollar.
Financial Markets
Fitch worries over US outlook
US Congress Drew FitzGerald FITCH Ratings cautioned today the US government still had more work to do to maintain its pristine credit rating.
Wall St tumbles for eighth day
Gold price strikes record
Financial Markets Coverage
Mining & Energy
Gold price strikes record
Gold Matt Day GOLD rose to record highs today as concerns about a global slowdown in global and Europe's debt crisis spurred demand.
Plan for China to invest, not buy farm
Panoramic broadens its horizon
More Mining & Energy

Reuters - Technology Report : Government hankers for hackers.

The International Trade Commission agreed to investigate Apple's complaint that mobile phones and tablets made by rival Samsung violate its technology intellectual property. The intensifying patent dispute threatens to strain a lucrative supply relationship: Apple in 2010 was Samsung's second-largest customer, accounting for $5.7 billion of sales tied mainly to semiconductors, according to the Asian consumer electronics company's annual report.

Google faces a total of nine antitrust complaints which EU regulators are now investigating, two sources said. Up to now, The European Commission has only confirmed four cases against Google. The increased number of complaints underscores Google's dominant position but does not necessarily mean bad news for the company, said Simon Holmes, head of EU and competition law at law firm SJ Berwin.

"Google's strong position means there are lots of interests involved. But there is nothing wrong per se in having a strong position," he said.

Broadband speeds on average are within 80 percent of what major Internet service providers advertise, a big improvement from two years ago, according to an FCC study. I suggest that the study, while attempting to arm consumers with a comparison tool in order to make more informed choices, masks regional disparities in broadband speeds that were brought to light last week.

For an extra $25 per year, fans of Electronic Arts sports titles will be able to download video games three days before they hit stores, a move that should boost EA's digital sales. EA's new program called "Season Ticket" will let consumers get access to five sports games--its soccer, golf, hockey, pro-football and college football titles. Users will be able to download the games over the Internet on Microsoft's Xbox and Sony Corp PlayStation systems three days before they are out in stores.

Russia's interior minister called for limits on the Internet to prevent a slide in traditional cultural values among young people, raising fears of controls over the vibrant Russian-language Web. Rashid Nurgaliyev, who did not indicate which sites he felt should be curbed, said that Russia's youth needed looking after to prevent young people from being corrupted by "lopsided" ideas, especially in music, that may undermine traditional values.