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STORIES:
More
than 400 San Francisco city workers made over $200,000 last year, including a
city mechanic who pulled down a tidy $300,000 - (www.beforeitsnews.com) A series of California cities have
declared bankruptcy this year, due primarily to out of control wage
and benefits packages negotiated by public sector unions and their Democrat
cronies. While San Francisco has thus far avoided insolvency, it’s well on the
way there as evidenced by its embarrassingly rich pay packages
for city workers: S.F. police chief highest-paid U.S. cop…With a
total pay of $321,577, San Francisco Police Chief Greg Suhr won top honors last
year among the nation’s police bosses. He also happened to be the highest-paid
department head in San Francisco city government……Fire Chief Joanne Hayes-White
came in second in the city salary sweepstakes at $310,458 – including $17,573
in similar pay premiums for education and training. Jennifer Johnston,
spokeswoman for the Human Resources agency, said the city has considered eliminating
premium pay for higher-ups, but that without it, the bosses wouldn’t be making
much more than the rank-and-file. In all, a record 401 San Francisco city
workers made more than $200,000 in the past fiscal year, with overtime included.
Struggle
to make ends meet - (www.sfgate.com) Plight of the Brown twins
sheds light on the hard times of many of San Francisco's low-income seniors. Beverly Brumfield worked hard all her
life, but she didn't really know hard until the golden years hit. She had no
savings. She was alone. Her Social Security check didn't cover rent. It's
a very American story, with federal statistics showing that a quarter of the
country's senior citizens are poor, a third say it's hard to meet monthly
expenses, and nearly half say they have housing problems. In some places, this
translates into cramming in with family, or at worst, homelessness. San
Francisco's Vivian and Marian Brown, the diminutive 85-year-old
twins who gained fame as advertising and social icons years ago, were veering
toward such dire straits - until this month when they received national
attention and assistance after their economic plight went public. But every day
there are thousands of economically strapped San Francisco seniors like them
who face similar hard times. For some, help from friends and family does
the trick. For others, it comes down to digging hard for solutions - and for
those who dig hard enough, there are ways to live safely with dignity.
Automakers
to Obama, Romney: You're not invited - (cnn.money.com)
- Michigan and Ohio are
battleground states in the presidential election. But General Motors and
Chrysler Group want their auto plants to be islands of neutrality. The
automakers, which were both saved from liquidation by federal bailouts, have
said political candidates will not be allowed to campaign on company property. In
addition, GM added that candidates will not be given authorization to use film
from past appearances in their campaign spots. The "no candidates
allowed" rules apply to candidates for local office -- and all the way up
to President Obama and his Republican rival, Mitt Romney.
Mortgage
rates near record lows - (cnn.money.com)
Mortgage rates have become a
broken record -- in more ways than one. In 12 of the 13 weeks from mid-April
through mid-July, long-term home loan rates matched or hit new lows, as 30-year
fixed loans fell to 3.53%, their lowest level in at least 40 years. (Since the
end of July, they've edged up to 3.66%.) Mortgages closely track Treasury
yields, which have been flattened by investors seeking safety amid lackluster
U.S. growth forecasts and European financial woes.
Bankers
Told to Watch What They Say at Bars - (www.cnbc.com)
In the boom years,
conspicuous consumption in the bars was investment bankers' natural release
from long hours in the office. Now the office sits on their shoulders while
they sup. After a series of banking scandals, banks'
compliance teams are ramping up their checks on every aspect of office life,
such that even social outings are under scrutiny, with training sessions on
what you can and can't say over a beer with colleagues. "Everyone is more
paranoid, that's for sure," said one department head at a European
investment bank, where the trading floor is festooned with
posters reminding staff to report any suspicious behavior.
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