DECADES ago travelling by air in America was a glamorous affair. Today it signals delays, discomfort, extra charges and the threat of violence. Air fares are higher per seat mile in America than in Europe. When costs fall, consumers in America fail to enjoy the benefits. Airlines in North America posted a profit of $22.40 per passenger last year; in Europe the figure was $7.84. Standards of service are also worse. Only one operator based in America can be found in the world’s 30 best carriers, as rated by Skytrax, an aviation website, compared with nine from Europe.
This happy combination of low fares and reasonable service has a simple explanation: competition. American policymakers have presided over a wave of mergers in the past few years, while in Europe, where the top four carriers have around 45% of the market, policymakers have got three things right.
First, European regulators have tried harder to preserve competition between existing carriers.
Second, Europe has made it easier for foreigners to boost competition by entering new markets.
Third, Europe has also encouraged competition between different airports and their main operators. Breaking up the ownership of London’s biggest three airports has saved passengers £420m ($628m) in fares since 2009, according to ICF International, a consultancy.
America, it’s time for a change.
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SecureSet Academy is taking it CORE Technical Bootcamp on the road to Colorado Springs targeting local veterans and other technology professionals who want to move into the fast-growing industry. The 36-week class that begins Jan. 30 is designed to prepare workers to get jobs that according to SecurSet Academy president and CEO, Brett Fund, pay annual salaries between $60,000 and $85,000 in an industry that is expected to have up to 1.5 million unfilled jobs within two years.Bret Fund, founder, president and CEO of SecureSet Academy.
FILE – In this Feb. 27, 2013, file photo illustration, hands type on a computer keyboard in Los Angeles. (AP Photo/Damian Dovarganes, File) A Denver-based cybersecurity training program is expanding to Colorado Springs with a 36-week class that begins Jan. 30 and is targeted at local veterans and other […]
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MasterCard and Visa have indicated October, 2015 as the timeline for the big shift from swipe and sign credit cards to EMV or smart cards requiring a PIN. The EMV system comes out of an early 1990’s joint project by international payment processors to set standards for smart-card specifications. Most of the world has already adapted this process, but the US is slow to make the transition.
Why has this taken so long? In 2003, Clear Technology was helping a payment processor issue bank smart-cards across much of Eastern Europe and Africa. The cards were in high demand and the processor was under pressure to cut the time from card program request to issuance. More than 10 years has passed and little has changed in the US. There are 3 primary reasons for this. Embedded infrastructure in the old system is a huge drag on new investment. In addition, there is limited need for offline transaction processing. Finally, the main reason is a misunderstanding of the increasing risk to banks and merchants under the old system. How costly is it for a big brand to expose millions of customers to identity theft?
It’s ironic that the main driver of smart-card adoption in many markets was the high rate of fraud. Fraud which predictably has migrated to the US as the smart-card systems made it more and more difficult to succeed in less developed economies.
Transition won’t happen quickly as the road maps issued in 2012 by both Visa and MasterCard show. How many more multiple million ID thefts will occur before 10/15?
It is past time for a long term solution that stops America’s debt from growing as a percent of GDP. Both sides are offering options that do this, providing ample possibilities for rational people to reach a compromise. We will see if such people have been elected.
The foundation for a deal is there. Now both sides have to come together in the spirit of principled compromise to truly address the country’s long-term finances. For this budget conference, failure should not be an option.
via Every Budget Put the Debt on a Downward Path and This One Should Too | Committee for a Responsible Federal Budget.