• Office Landlords Can't Get a Loan Anymore

    The office sector's credit crunch is intensifying. By one measure, it's now worse than during the 2008-09 global financial crisis. From a report: Only one out of every three securitized office mortgages that expired during the first nine months of 2023 was paid off by the end of September, according to Moody's Analytics. That is the smallest share for the first nine months of any year since at least 2008 and well below the nadir reached in 2009, when 47% of these loans got paid off. That share i
  • OpenAI Researchers Warned Board of AI Breakthrough Ahead of CEO Ouster

    An anonymous reader quotes a report from Reuters: Ahead of OpenAI CEO Sam Altman's four days in exile, several staff researchers sent the board of directors a letter warning of a powerful artificial intelligence discovery that they said could threaten humanity, two people familiar with the matter told Reuters. The previously unreported letter and AI algorithm was a key development ahead of the board's ouster of Altman, the poster child of generative AI, the two sources said. Before his triumphan

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