Real Estate Australia

MR. LOCKHART: Well, this is one that could use a little truth in labeling, this bill. Let me give you a couple facts on the estate tax. This is something that's going to cost $50 billion a year once it's phased in. There have been a lot of people talking about its impact on family farms and small business. Less than one percent of family farms are subject to estate tax. Less than one percent of small business are subject to estate tax. Less than two percent of Americans are subject to estate tax. ... [Read More]

USIS Washington File: TRANSCRIPT: CLINTON 11/30 REMARKS TO MIDEAST DONORS CONFERENCE

Despite our best efforts since 1993, an honest assessment would lead us to the conclusion that we have not realized all our intentions. There has been too little tangible improvement in the lives of the Palestinian people. Per capita income is down. Unemployment is too high. Living conditions are extremely difficult. ...

At the outset of the next phase of the peace process, we must candidly acknowledge that we have to change these circumstances. No peace stands a chance of lasting if it does not deliver real results to ordinary people. Our challenge today, therefore, is to do more to deliver these results and to do it sooner rather than later. ... [Read More]

Background Notes Archive - East Asia and the Pacific

U.S. Department of StateBackground Notes: Australia, May 1996Bureau of East Asian and Pacific AffairsPrepared and released by the Bureau of East Asian and Pacific Affairs, Office of Australia and New Zealand AffairsMay 1996Official Name: Commonwealth of AustraliaPROFILEGeographyArea: 7.7 million sq. km. (3 million sq. mi.); about the size of the 48 continental United States.Cities: Capital--Canberra (pop. 310,100). Other cities--Sydney (3.7 million), Melbourne (3.1 million), Brisbane (1.3 million), Perth (1.2 million).Terrain: Varied, but generally low-lying.Climate: Relatively dry, ranging from temperate in the south to tropical in the north.PeopleNationality: Noun and adjective--Australian(s).Population (1995): 18.2 million.Annual growth rate: 1.1%.Ethnic groups: European 94%, Asian 5%, Aboriginal 1%.Religions: Anglican 24%, Roman Catholic 26%.Languages: English.Education: Years compulsory--to age 15 in all states except Tasmania, where it is 16. Literacy ... [Read More]

Department of State Washington File: Byliner: Commerce Secretary Analyzes U.S.-China Trade Relations

While pursuing cooperation with China, the Bush administration has not and will not hesitate to enforce America's trade laws. We filed the first-ever WTO enforcement action against China, for its discriminatory taxation of U.S. semiconductors. We imposed the first safeguard actions against Chinese textile and apparel imports, and roughly half of all U.S. antidumping cases filed in 2003 were against unfair Chinese imports. However, while some would prefer to litigate for litigation's sake, we are focused on achieving real results, in real time. ... [Read More]

USIS Washington File: TEXT: BONNIE COHEN TESTIMONY ON INFORMATION INFRASTRUCTURE

The Harvard Business School recently completed a study of our real estate disposal practices, benchmarking our operation against the best practices of US multinational private industry, and their findings were very favorable. The report found that the Department's portfolio of property is unique, larger, and more diverse than those in the private sector, and that our real estate program compares favorably to the private sector on dimensions that include staff qualifications, thoroughness, and knowledge of local markets. They found that our customized, flexible approach to executing international transactions was consistent with private sector best practices. In order to improve further our real estate program, we are implementing some of the report's recommendations, such as sending information to posts worldwide about the disposal process and further developing our partnership with the Office of the Inspector General. ... [Read More]

Department of State Washington File: Text: Bush Says Confronting Iraq Is "Matter of National Security"

After September the 11th, many insurance companies stopped covering builders and real estate owners against the risk of terrorist attack. The lack of terrorism insurance has hurt the growth of this economy and cost American job. The lack of terrorism insurance has delayed or cancelled more then $15 billion in real estate transactions. And more than 300,000 carpenters, joiners, bricklayers, plumbers, and electricians and laborers and other building professionals who could have good paying jobs have been out of work. ... [Read More]

Department of State Washington File: Text: Report Notes Improvements in U.S.-Japan Investment Climate

The current agenda includes further work to allow the use of all types of mergers and acquisitions, greater transparency in real estate transactions, and improved market access for professional services, Boucher said. ...

Areas in which the two countries made notable progress include significant revisions to the Japanese Commercial Code permitting Japanese companies to use U.S. corporate government systems, introduction of consolidated taxation, liberalization of labor laws, and improvement in accounting standards. The current agenda includes further work to allow the use of all types of mergers and acquisitions, greater transparency in real estate transactions, and improved market access for professional services. ... [Read More]

Department of State Washington File: Text: Philadelphia Bank President Jan. 17 Remarks on U.S. Economy

The current slowdown in growth is likewise making its imprint on the region, and the pattern very much matches the nation's. For several months, we have seen signs of a slowing of activity in the region, and our Bank's Business Outlook Survey has been signaling a slowdown in regional manufacturing activity. Last week at the economic outlook breakfast organized by the Greater Philadelphia Chamber of Commerce, Sovereign Bank reported local survey results suggesting that consumers expect to make relatively fewer major purchases this year. However, I understand from talking with others that the local real estate market, both residential and nonresidential, is solid. Local bankers tell me loan demand is strong and loan quality remains good. ... [Read More]

Department of State Washington File: Transcript: White House Daily Briefing, Thursday, August 31, 2000

This debate isn't about the estate tax, because if it was we would have a real, good faith debate where we go and we try to target relief to family farms, and we try to target relief to small businesses as the Democrats have tried to. What it's really about is giving a huge tax break, $7 million to 3,000 families. That's what it's really about. ...

There are something like -- there was a report out from a group today that said something like one-third of small businesses were subject to estate tax problems. Well, the numbers tell quite a different story if you look at them in a realistic way. There were only about a thousand small businesses in this country in 1998 that were subject to estate tax, that were big enough that would have to pay some estate tax. There are 25 million small businesses in this country -- 25 million. ... [Read More]

Department of State Washington File: Transcript: Federal Reserve Official on Foreign Direct Investment

The other area where Japanese FDI was important in the early 1990s was in real estate. Japanese firms were very active in acquiring real estate. And again it was in two of the regions experiencing some of the most severe credit crunch. ...

We were experiencing a serious banking problem, the most serious since the Great Depression of the 1930s, and many parts of the country, especially in the Mid-Atlantic states, California, and New England, were experiencing a decline in real estate values. So it was very similar to the situation that Japan's economy has faced for much of the 1990s, where Japan's banks have experienced very severe problems and the real estate sector has been one of the more depressed. ... [Read More]