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jerryking : overpaid   6

Why firefighters are underworked and overpaid
It’s good to be a firefighter, especially if you live in a small town. You’re one of the best-paid guys around. You get lots and lots of time off to go fishing or hunting or run your…
wages-and-salaries  firefighting  overpaid  public_sector  unions 
may 2015 by jerryking
Why crime is plunging but police costs are soaring - The Globe and Mail
Margaret Wente

The Globe and Mail

Published Thursday, Apr. 17 2014

Orangeville’s police force is the highest-paid in Ontario. Of the 34 municipal employees who made more than $100,000 last year, 14 are cops. Another seven are firefighters. hat’s the way it is across much of Canada. The cops and firefighters are taking home the biggest paycheques in town. While other public-sector salaries are frozen, their pay is rising faster than inflation. And the cost is eating small-town budgets alive.
Margaret_Wente  Ontario  public_sector  criminality  pensions  unions  police_unions  overpaid 
april 2014 by jerryking
Former Xstrata CEO raises $2.5-billion for new company - The Globe and Mail
ERIC REGULY
- EUROPE BUSINESS CORRESPONDENT

X2’s goal is to create a mid-tier mining and metals group. The company consists of a small office in central London and five executive partners, all of whom worked with Mr. Davis at Xstrata. They include Trevor Reid, who was Xstrata’s finance director, Thras Moraitis, Andrew Latham and Ian Pearce. Mr. Pearce, of Toronto, was the CEO of Xstrata Nickel, formerly Falconbridge Ltd., the Canadian nickel miner bought by Xstrata in 2006 for about $22-billion (Canadian).

With ample funding in place, X2 is expected to move quickly on the acquisitions front. The company won’t say where it is looking, though the team has intimate knowledge of the mining scene in Australia, Canada and South Africa. Mr. Davis is a South African and was the chief financial officer of Australia’s Billiton before its merger with BHP in 2001.

X2 will consider buying operating companies or assets that are being discarded by the big players such as BHP, Rio Tinto and Anglo American, which overpaid for assets before the 2008 collapse in the belief that the upward commodities cycle was unstoppable. They have taken billions of dollars of writedowns in the past couple of years.

ROME — The Globe and Mail

Published
Monday, Mar. 31 2014,
Mick_Davis  Xstrata  Eric_Reguly  mining  natural_resources  commodities  overpaid  commodities_supercycle 
april 2014 by jerryking
The Superball Economy - WSJ.com
March 3, 2003 | WSJ | By ANDY KESSLER.

Design is cheaper. If you look closely, Silicon Valley has very few manufacturers left. Chips are made in Taiwan, boards assembled in China or Thailand. We are now a Valley of designers. And there are lots of programmers and chip-heads and communications protocol folks walking the streets willing to work for much cheaper than three years ago. Office space is plentiful. Word has it there is space available for 50 cents per square foot per month, down from $12.

Bandwidth is cheaper. Global Crossing spent $12 billion on undersea fiber optics that someone is going to buy for $250 million. WorldCom and others have strung the U.S. with more fiber than in Frosted Mini-Wheats. And it won't be just for phone calls. Find companies that use that cheap bandwidth, and you'll find the boom.

Video is cheaper. Napster music sharing was child's play compared to what is next. Hours of video can be captured, stored and shared with today's cheap PCs and broadband lines. Jack Valenti, call your office.

Wireless data is cheaper. The Federal Communications Commission set aside frequencies for hospitals and microwave ovens that might interfere with phones or radar. This Industrial, Scientific and Medical block of spectrum is known as the junk band. While stupid telecom companies overbid for spectrum for third generation 3G cell phone devices, clever engineers figured out how to hop around the junk band -- letting out-of-work programmers surf job listings at Starbucks. Intel is putting these radios in many of their chips.

Distributed computing is cheaper. Google uses 12,000 cheap PCs to log the Internet so you can look up your neighbor and figure out how much she makes. Even distributed programming is cheaper. Microsoft's biggest problem is far-flung programmers creating operating systems like Linux at home in their pajamas. Bill Gates is reportedly all over the Valley asking for help to combat this "Open Source" nuisance.

About the only thing not cheap is capital. Venture capitalists are stingy, the IPO window is closed, and stocks are at four-year lows. Hmmm. Forget that last boom, it's ancient history. Look for new products not possible or too expensive three years ago. Slam down your new Superballs and be ready.
Andy_Kessler  Silicon_Valley  economic_downturn  protocols  recessions  optimism  design  bandwidth  open_source  new_products  distributed_computing  venture_capital  IPOs  inexpensive  cheap_revolution  abundance  economic_dynamism  leaps_of_faith  FCC  overpaid  wireless_spectrum 
may 2012 by jerryking
Law firms: A less gilded future
May 5, 2011 | The Economist | Anonymous. Not all the trends
that have hit the legal industry are cyclical. Some are here to stay
even as the economy recovers. One is clients’ determination to keep
their bills down. Feeling that they've overpaid vastly for green
trainees, they began refusing to have routine work billed to 1st- and
2nd-yr associates (ie, lawyers who are not yet partners). A second
trend is globalization. For lawyers, it holds both promise and peril.
Booming emerging markets, especially in Asia, are leading NYC &
London firms to extend their reach. But the growth of outsourcing to
places like India is not lost on money-conscious clients, some of whom
are demanding that their lawyers pass certain routine work to cheaper
contractors. A 3rd trend is the growth of technology in an industry long
synonymous with trained human judgment. Software that can perform tasks
like “e-discovery”, sorting through e-mails and other digital records
for evidence, is saving firms $.
e-discovery  globalization  law_firms  lawtech  Outsourcing  overpaid  trends 
may 2011 by jerryking

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