The Vendors segment is living up to its volatile reputation again, this week, climbing another 5.82% to reach an all-time high. Meanwhile, the Operators segment declined by 0.71%, in a week where the Indexes posted a 1.17% gain. There is a concern that the vendors are the tail wagging the dog, as the fate of the industry should be decided by the operators – the gatekeepers that actually run the networks on which the rest of the industry is built. However, the operators have ceded the field, and despite some efforts, have essentially become the dumb pipes on which other services run. This is problematic, and the steady decline of the operators’ collective stock price shows how the stock markets…