  The layered iron superconductors are discussed using electronic structure
calculations. The four families of compounds discovered so far, including
Fe(Se,Te) have closely related electronic structures. The Fermi surface
consists of disconnected hole and electron cylinders and additional hole
sections that depend on the specific material. This places the materials in
proximity to itinerant magnetism, both due to the high density of states and
due to nesting. Comparison of density functional results and experiment
provides strong evidence for itinerant spin fluctuations, which are discussed
in relation to superconductivity. It is proposed that the intermediate phase
between the structural transition and the SDW transition in the oxy-pnictides
is a nematic phase.
