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One of the reasons it’s fun to follow the telecom and wireless sectors is that even in a lousy economy it is doing well. As Mike Mandel reports, the sector has had rising customer satisfaction, falling prices, enviable investment levels, and greater innovation"”even during the Great Recession. Can any other sector claim as much? Probably not. Read Mike’s whole post to get a sense of just how exceptionally good wireless/telecom has been in recent years.
So Mike is befuddled (as am I) that the FCC would propose a new suite of rules and regs designed to hamstring a dynamic and evolving marketplace. What could explain regulating one of the the few bright spots in the nation’s economy right now?
I think I’ve figured it out. Regulators suffer from what I have come to call “the Tommy Boy problem.” In the movie Tommy Boy, Chris Farley plays the hapless salesman who blows it every time he’s close to closing a deal. In this scene, Tommy Boy discusses how it is that he can screw up so many sales calls. He likens a potential sale to a “new pet” that he positively adores. Watch the clip to understand what happens.
Too often regulators are to their industries what Tommy Boy is to his pet. Perhaps it’s possible regulators love the industries they regulate too much"”like Tommy Boy and his potential sales.
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