"Chris Rasch <[EMAIL PROTECTED]>" wrote: > According to Michael > Porter's now famous framework, the five fundamental competitive forces > that determine the ability of firms in an industry to earn > above-normal returns are "the entry of new competitors, the threat of > substitutes, the bargaining power of buyers, the bargaining power of > suppliers, and the rivalry among existing competitors." Isn't that the California power industry? Or, do the buyers (electricity consumers) have too much power through legislation? Then, perhaps, it is the California power industry prior to deregulation, i.e. an economic oligarchy. Sourav ------------------------------------------------------------ Sourav K. Mandal [EMAIL PROTECTED] http://www.ikaran.com/Sourav.Mandal/ "In enforcing a truth we need severity rather than efflorescence of language. We must be simple, precise, terse." -- Edgar Allan Poe, "The Poetic Principle"
