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04.08.12

Links 8/4/2012: LF Collab 2012, OpenStack Essex

Posted in News Roundup at 10:12 am by Dr. Roy Schestowitz

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GNU/Linux

Free Software/Open Source

Leftovers

  • 7 Mobile Operating Systems You Might Never Use
  • Finance

    • Big Repairs Still Needed To Fix the American Jobs Picture

      No doubt, a few economists and some business leaders will be inclined to argue that the trend is not entirely negative. Fair enough. Perhaps it indicates flexibility in US labor markets, especially as the economy tries to recover through the formation of small business. Also, it makes sense that an economy trying to recover would first add back part-time work in equal amounts to full time work, before stepping up to the array of benefits extended to the full time worker. But therein lies the problem: American workers desperately need health-care coverage, which is not typically offered to part-time workers. Meanwhile, deleveraging of household balance sheets since the high debt levels of 2007 has been mild. The result is yet another way to see how deeply consumer demand is restrained: there’s not enough work to both pay down debt, and restart consumption.

    • Fed may fine firms not part of foreclosure deal
    • Kaplan, community members discuss city’s bond debt deal with Goldman Sachs

      Rebecca Kaplan was once a rabbinical student, and the Oakland City Councilmember still knows her scripture well. On Wednesday afternoon, Kaplan quoted the books of Isaiah, Leviticus and Exodus while speaking during a teach-in about the city’s bond debt with Goldman Sachs at Allen Temple Baptist Church in East Oakland.

      In 1997, Oakland and the investment bank Goldman Sachs agreed to a rate-swap deal relating to $187 million in city debt. The deal allowed the city to convert floating interest rates on the debt into a fixed rate of 5.6 percent. But what appeared to be a good deal at the time has proved costly in the long run, after the market collapsed in 2008 and interest rates dropped to below 2 percent. The city has come out on the short end of the deal, and has already paid out $26 million more than it owed and is currently paying $5 million annually.

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