Telecom
Internet telephones can save firms a lot of money on phone bills and at a relatively low cost up front. The price of such a phone, which carries voice traffic over computer networks, is less than $300 and falling. Some low-end models go for only $80. Most firms with a PBX, a private switching system, can use so-called Internet Protocol phones.
The phones also provide many new features, including browsers for accessing company intranets and audio streaming. And the integration of voice mail with e-mail provides a way to get both types of messages.

Low-cost software is turning new cell phones into minicomputers that can be used for much more than just talking and taking messages. They can serve as electronic accounts of hotel and other travel expenses, a “digital checkbook” that tracks debit card usage plus much more.
New digital phones also tap into global positioning satellites to help you get around. Verizon Wireless, for example, has a GPS program that can be downloaded and used all you want for only $1.99 a month.
There’s software for special business needs, too. From Nextel: WageMate lets hourly workers log their time. GoFigure helps salespeople give quotes quickly. And sweetMED lets doctors call in prescriptions.

Aviation
Discount airlines are spreading their wings across much of Asia.
In India, Malaysia, Thailand, Singapore, and elsewhere, carriers are adopting the no-frills model of Southwest and JetBlue in the U.S.
That expands a market for Boeing and its European rival, Airbus. They will split sales of new and replacement airplanes in Asian fleets.
And it means more and cheaper flights for business and pleasure.

Recreational flying will get a lift, thanks to new FAA rules. As of Sept. 1, pilots of two-seater planes that weigh 225 to 1,300 pounds can get a new sport license instead of a full-fledged pilot’s license. A sport license and buying a low-flying plane can cost under $40,000.
Small-plane manufacturers are poised to profit from the changes, including Zenith, Quicksilver, Fisher, and Carlson Aircraft. Honda, Yamaha, and other recreational vehicle makers may enter the market if it thrives.

Election 2004
The GOP convention gives Bush a shot at energizing his campaign.
He’ll have to reverse some troubling trends to win a second term. Bush’s approval rating is below 50%, he’s losing ground in swing states, and a majority of voters say the U.S. is headed in the wrong direction.
His challenge: Offer a compelling agenda for the next four years, one that can push most undecided voters off the fence and to his side.
Bush will propose initiatives designed to give voters options on everything from getting health insurance to saving for retirement. He’ll offer more tax cuts to spur manufacturing and try to make cuts OK’d in his first term permanent, even though deficits dim his chances. Like Kerry, Bush will get conventioneers to downplay divisive issues.
The GOP will feature popular moderates. Convention headliners: Calif. Gov. Arnold Schwarzenegger, former New York Mayor Rudy Giuliani, and Ariz. Sen. John McCain. Plus a rebel Democrat, Ga. Sen. Zell Miller.

Complicating the president’s quest are things he can’t control, especially in Iraq. Other potential obstacles include the uneven economy, possible terrorist strikes, and big anti-Bush demonstrations in New York.
Bush isn’t likely to get much more bounce than Kerry got in July after the Democratic convention. That will put the candidates near even and set up what promises to be a no-holds-barred battle to the finish.

The convention will give GOP up-and-comers a chance to shine:
Gov. Tim Pawlenty of Minn. may be in line for a Cabinet position in a second Bush term, especially if he helps deliver the state for Bush.
Gov. Linda Lingle of Hawaii is expected to run for the Senate in 2006. She has beaten the odds so far in a heavily Democratic state.
Ex-Rep. John Thune of S.D. will be the Republicans’ dragon slayer if he defeats Senate Minority Leader Tom Daschle. He has a decent shot.
Bobby Jindal of La. nearly won the race for governor last year. A fiery speaker and social conservative, he’s poised to win a House seat.
Rep. Johnny Isakson of Ga. will add to GOP ranks in the Senate. He’s a virtual shoo-in to win the seat of retiring Democrat Zell Miller.

© 2004 The Kiplinger Washington Editors, Inc.