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Currently, when starting a terminal on Mac OS X, the current working directory of the terminal is /. There are two issues proposing locations which the terminal should use as the working directory. Bug 240930 proposes using the project's root directory; bug 198283 proposes the same thing, roughly. Bug 198283 mentions that the user's home directory is used on Linux, which I have not tested. I do not know the root cause of / being used on Mac OS X; I merely observed the behavior and patched the source to correct it. See attached patch.
Created attachment 149588 [details] Sets working directory to ${user.home} if unspecified