The council instructed “all departments and offices of the city, including elected offices, to expedite the elimination of 4,000 positions by any means necessary, including layoffs.” Under the council’s instruction, the positions must be identified within 45 days and scheduled for elimination as of July 1, the beginning of the next fiscal year.
Eliminating 4,000 positions does not necessarily mean 4,000 people will be put out on the street. Some workers may lose their current positions but be transferred to other departments and offices that do not draw salaries from the depleted general fund. SOURCE
Does this make any sense to anyone outside of California? Didn’t Obama say he had saved all these jobs?
One of America’s wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that prosecutors say generated more than $25 million in illegal profits and should be a wake-up call for Wall Street.
Raj Rajaratnam, a partner in Galleon Management and a portfolio manager for Galleon Group, a hedge fund with up to $7 billion in assets under management, was accused of conspiring with others to trade based on insider information about several publicly traded companies, including Google Inc.
U.S. Attorney Preet Bharara told a news conference it was the largest hedge fund case ever prosecuted and marked the first use of court-authorized wiretaps to capture conversations by suspects in an insider trading case.
Rajaratnam, 52, was ranked No. 559 by Forbes magazine this year among the world’s wealthiest billionaires, with a $1.3 billion net worth. Read More
Who is Raj Rajaratnam
US citizen residing in New York. Born in Sri Lanka, 1957.
This year he gave $1 million for the reintegration in society of Tamil fighters, whose military movement was defeated in May.
Politics: Contributed to a number of Democratic campaigns, including $30,800 to Barack Obama and $4,600 to Hillary Clinton in the last presidential election. Read More
No wonder America is in a recession! Does anyone besides me see anything strange about this Raj Rajaratnam, the firm is based in New York City with offices in California, China, Taiwan and India. He lives in New York. manager of billions of dollars in technology and health-care hedge funds at Galleon, which he started in 1996 What say you?
There is a new billboard up in Colorado with a bang! I posted it 24 November! Click below link to read the story and see the new billboard!
A federal judge in California today listened to government lawyers argue that a lawsuit over President Obama’s eligibility should be immediately dismissed but refused to grant their request, saying he would make his decision and announce it later.
The result came this morning from U.S. District Judge David Carter, who already has set a tentative trial date for the dispute Jan. 26, 2010. The judge also already had lawyers draw up a tentative schedule for hearings and deadlines in preparation for the trial.
Judge sets ‘final’ calendar for eligibility challenge
U.S. District Judge David Carter today issued a final schedule of deadlines for progress in the California lawsuit challenging Barack Obama’s eligibility to be president, leaving some of the president’s critics gleeful over the “confirmation” of a trial and others wondering exactly what the judge meant. Read More
Thumbs up for U.S. District Judge David Carter. Will Obama get to him and force him to dismiss the case or will Carter stand up for the laws and what is right? What say you?