On May 15th of this year, I provided you with preliminary findings from the Congressional Budget Office (CBO) study of issues related to submarine programs now under review by the Congress. In that earlier letter, I addressed the near-term savings that would result from a decision not to fund completion of the third Seawolf submarine. After briefly reviewing those savings, the accompanying atta...

Problems of developing specialized financial services for housing are acute in transition socialist economies (TSE). Some constraints derive from the incomplete and imperfect privatization of the real estate sector. Others reflect the fragmented and undeveloped financial system. This paper examines a financial instrument, contractual savings for housing (CSH), that is often advocated as a major...

A new trend in the telecom industry is shifting where network functions are deployed from hardware-based equipment to software applications running in a virtualized environment on standard high volume servers. Network service providers are beginning to deploy virtualized network elements in order to drive higher resource utilization by sharing hardware across multiple network functions. Additio...