From the editor: Market report
Defining markets is a funny thing. It can reflect who you are and how you see yourself in a wider context.
For instance, we have always held that Mainebiz's market is Maine's business community, and specifically the decision makers within it. So that is the lens through which we view all prospective stories: Will this information help business leaders make informed decisions for their companies? Will it be of interest and applicable to their understanding of doing business in Maine?
We got tested on that definition this fall while we vetted John Hallé's nomination to our Next List, a compilation of 10 people shaping the state's economy in good way. The presumption has been that the 10 people are Mainers, but Hallé's company, Cate Street Capital, is based in Portsmouth, N.H. The investment Cate Street has made in the former Katahdin paper mills is indisputable, as is its impact on the Millinocket area's economy and prospects for growth. The vision is John Hallé's, but his business address made us stop: Do we consider prospective Nexters from out of state?
The discussion turned on this: We write about Maine's place in a national and global market, so isn't it a little parochial of us to limit recognition to only people in Maine? As it turns out, Hallé lives in Portland, so we bought ourselves some time. But the question challenges the whole concept of our market.
That was on my mind as I read Staff Writer Matt Dodge's story, "Expanding the Bar," on the cover, part of this issue's focus on law. Matt writes about a new law that eases the restrictions around who can be admitted to Maine's Bar through a reciprocal arrangement with 31 other states. Now attorneys from away can practice here as long as they meet the reciprocity requirements and, likewise, an attorney in Maine can solicit business from say, Wyoming. How those attorneys choose to define their markets just got a lot more complicated.
We also take a look at a new form of legal counsel — a network of seasoned lawyers who perform sophisticated work as subcontractors — that attorney Nicole Bradick launched last year. Her company, Custom Counsel, the subject of Online Editor Darren Fishell's profile, "Legal aid," starting on page 18, has already expanded to Washington, D.C. Thanks to technology, her market can continue to expand exponentially. Our law focus also offers a commentary from Dan Mitchell about the implications of a federal lawsuit that examines culpability when online banking procedures go haywire, in "Cyber fallout," on page 24.
And markets are a growing arena for health care services as Senior Writer Jim McCarthy examines in his cover story, "Battle for beds." Hospitals are searching for the best ways to remain viable and deliver care. Two strategies — one based on competition and the other on coordination — are head to head in the battle for Parkview hospital in Brunswick. It puts a whole new spin on healthy competition.
Carol Coultas
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