[Credit Scores As A Basis For Hiring Is] One More Way In Which The System Is Rigged. If You’re Rich

[Credit scores as a basis for hiring is] one more way in which the system is rigged. If you’re rich and you get divorced, it’s not going to hurt your credit rating. If you’re rich and you have a medical problem, it’s not going to hurt your credit rating. If you’re rich and you end up quitting your job or losing your job, you walk out with a whole lot of savings, you walk out with a nice package. It’s not going to hurt your credit rating. But how about families who work hard every day, who live a lot closer to the economic margin? Those are the ones who get hit with a problem, with a medical problem, with a job loss. And boy, it’s not only the hit, it’s the financial fallout from that hit. And here’s the deal: it stays on their credit report for seven years, in some cases even longer. So what does that really mean? This is a problem that hits hardworking families who are struggling to get back on their feet. It’s not one that hits the rich, and I think that’s just wrong.

Elizabeth Warren, commenting on credit scores being a rigged way to deny poor people employment, as reported by Common Dreams. (via america-wakiewakie)

KKR to invest $100 million into wireless infrastructure

KKR is making its 11th infrastructure investment. This time they are focussing on wireless infrastructure in rural America. KKR will be a minority investor in its three different communication companies. 1. PEG Bandwidth is a company that builds and operates backhaul networks. Their focus is on connecting wireless communication towers to the data and fiber backbone networks on the ground. 2. AP Wireless buys cell sites both on the ground and on rooftops (domestic and international.) 3. AP Towers develop wireless communication towers and purchase already existing towers. With the explosion of smart devices there has been a dramatic increase in demand for data. This demand is driving investments into wireless infrastructure. The current infrastructural grid is drastically outdated and in a large part of the country still consists of copper cable, which is unable to handle the burden of big data. Raj Agrawal, KKR's Head of North American Infrastructure said, "The need for wireless infrastructure will continue to be driven by increases in wireless data usage that is overwhelming existing network capacity... We are excited about the opportunity to partner with Associated Partners to grow this premier set of businesses with critical telecom infrastructure assets." KKR appears to be betting on factions of the economy that are driven by technical revolutions. In the last year they have also invested into natural gas. With the development of shale natural gas, the amount of natural gas available has skyrocketed. "As the shale revolution is driving the growth of natural gas pipelines to transport molecules, the advent of the smart phone is driving a similar wireless explosion to transmit electrons. Wireless communication networks are an essential component of the nation's infrastructure," said Scott Bruce, Managing Director of Associated Partners, L.P. "We are excited to have KKR partner with us as we expand our businesses."

About KKR Founded in 1976 KKR is led by Henry R. Kravis and George Roberts. KKR is a leading investment firm with $90.2 billion under management as of September 30, 2013. With offices around the world, and notable global voices such as David Petraeus, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments.

http://assetsandmanagement.blogspot.com/2013/10/kkr-to-invest-100-million-in-wireless.html

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kkr David Petraeus KKR Wireless infrastructure Henry R Kravis

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