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Chris Bowen has said in recent days Labor will take the policy unchanged to the election. This would be a mistake and cause significant damage to Australia's housing market. |
The more desperate a government becomes the shriller scare campaigns tend to get, which is exactly what we are seeing with the Liberal Party's renewed attacks on Labor's responsible negative gearing reforms. |
The housing market has been a source of great frustration for younger families in places like Sydney. Home ownership is at its lowest point across Australia in 60 years. The Labor Party recognises this. The Liberal Party doesn't. They are simply out of touch. |
Wealthier investors get a subsidy from the government while first home buyers get locked out, says Chris Bowen. |
Labor's policy to restrict negative gearing to new homes will level the playing field so first home buyers and young Australians can realise the great Australian dream of owning their own home. |
Labor wants to level the playing field so first homeowners don't have to compete with investors that in Australia have some of the most generous housing tax concessions in the developed world. |
Labor's reforms are fully grandfathered which means that everyone that has a negatively geared investment property today will be completely unaffected by our changes. |
The government wants you to believe they're standing up for battlers and working-class Australians. |
But the fastest growing cohorts of people with negatively geared investment properties are those with three, four, five and six properties. The most generous tax concessions in the developed world mean wealthier investors get a subsidy from the government while first home buyers get locked out. How is that fair? |
We prefer to invest in better hospitals, schools and TAFE than spend taxpayers' money helping a property speculator with their sixth or seventh investment property. |
The government argues with a straight face that Labor's changes will take a "sledgehammer" to house prices at the same time that house prices in Sydney have just notched up the largest yearly fall in decades. |
So price falls under the Liberal Party we're seeing now are good but any possible falls under Labor are bad? You simply can't make this stuff up. |
When attacking Labor's responsible reforms, the government relies on its mates from the property sector and vested interests. |
Meanwhile, Labor relies on independent experts. Well respected independent economists such as Saul Eslake have rightly said that reforming negative gearing would remove a source of upward pressure while analysis done by the Grattan Institute shows Labor's policies will have only a modest impact on prices. |
This follows Treasury analysis that the government tried to conceal, which advised the government that Labor's changes would have only modest impacts. |
Labor's reforms are good for home ownership, good for the budget and will make the tax system fairer. Our reforms will put first home buyers back on a level playing field. It will be left to a Labor government to improve housing affordability for all Australians. |
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Not since Abraham Lincoln has a US president been treated so badly by the media, Donald Trump lamented in a series of Twitter rants before going to Delaware to honor the four Americans killed in Syria. |
“Will be leaving for Dover to be with the families of four very special people who lost their lives in service to our Country,” Trump wrote on Twitter on Saturday. |
Two US troops, a civilian and a contractor were killed in a suicide bombing in the Kurdish-controlled northern Syrian city of Manbij on Wednesday. But the president had no intention to focus on his surprise visit to Dower Airforce Base in Delaware for too long. |
Trump’s invocation of Lincoln prompted reactions from his supporters and opponents. |
Lincoln was a 'blood-and-soil' nationalist. |
There has been no President more like Lincoln than @realDonaldTrump. |
Trump said that the US economy was “one of the best in our history” due to his policies and warned his rivals against impeaching him as it will cause a “crash” of the stock markets. |
The president went on, raging about a fresh BuzzFeed report, which claimed that he ordered his former lawyer, Michael Cohen, to lie to the Congress about the talks on the Trump Tower project in Moscow in 2016. Special Counsel Robert Mueller, who heads the Russian collusion probe, dismissed the BuzzFeed claims as “not a... |
The barrage of tweets concluded with one dedicated to his dispute with the Democrats over the construction of the wall on the Mexican border, which provoked the longest 29-day government shutdown in US history. |
Mexico is doing NOTHING to stop the Caravan which is now fully formed and heading to the United States. We stopped the last two - many are still in Mexico but can’t get through our Wall, but it takes a lot of Border Agents if there is no Wall. Not easy! |
Trump wants $5.6 billion and no less for the project, which was his campaign promise, while the Democrats don’t seem willing to budge, as almost a million federal workers missing their paychecks. |
Police are appealing for witnesses following two collisions on the A1 in Leicestershire last night (Saturday, May 21). |
Officers were called out to a stretch of the A1 southbound, near to the Ram Jam Services, at about 9.10pm after a report of a collision involving one vehicle. |
A blue Vauxhall Zafira, containing five people, had left the road and a man and a woman were taken to hospital with serious injuries. |
Firefighters from Oakham and Stamford were called to the collision. One person was trapped and another had to be extricated by the fire service. Two people had managed to release themselves before fire crews arrived and another was released by firefighters. |
Additional officers were then called to attend a second collision in queuing traffic on the same stretch of road, which happened at about 10.20pm and involved five vehicles. One woman was taken to hospital with serious injuries. |
As a result of the two collisions the A1 southbound was closed until about 3am this morning (Sunday, May 22). |
Sergeant Tony Hopkins, from the Serious Collision Investigation Unit, said: “I’m keen to hear from anyone who saw what happened or who has information about either collision. |
Any witnesses or anyone with information is asked to call police on 101 and ask to speak to the Serious Collision Investigation Unit. |
A planned three-hour traffic test is ruffling some feathers in Palo Alto, which in turn is testing Chief Transportation Official Joe Kott's patience. |
The city's recently announced, one-day test will narrow Middlefield Road in Midtown from five lanes to three between Colorado Avenue and Oregon Expressway. It's planned for the evening commute hours, 4-7 p.m., and is not scheduled until January. |
The one-time exercise will allow the city's transportation division to assess the effects of going to three lanes, which would allow for one lane in either direction, a left-turn lane in the center and bike lanes on the outside. |
Currently, there are no bike lanes. |
Even before the test has taken place, strong condemnations have surfaced. City Council member Jack Morton was quoted in one local newspaper as saying narrowing Middlefield could bring on "another Downtown North" -- referring to the 10-month traffic-barrier trial that tore apart the neighborhood north of University Aven... |
Another newspaper columnist alleged the Middlefield test was a de facto prelude to the city making a permanent change. |
"We have no agenda," Kott said of the study, which was ordered by the City Council in May 2003. He grew emphatic in saying the department needs to gather evidence to forecast how feasible a three-lane stretch would be, rather than simply presenting the council with opinions on whether such a change would be positive or... |
The test will use orange cones to block off the outside lanes to vehicle traffic. |
To measure how well the narrowing would work, the transportation division plans timed runs of the four-block stretch. Essentially, staff members will drive up and down Middlefield Road, timing how long it takes with only one lane in each direction. They will also conduct the same time test under normal road conditions ... |
Staff will also observe whether cars get backed up and, if so, how long the lines are and how long it takes them to clear, according to Transportation Engineer David Stillman. They'll also monitor the driveways into the Midtown shopping center, which includes stores such as Longs Drugs. |
Sheri Furman, chair of the Midtown Residents Association traffic committee, said her neighborhood is divided on the issue of narrowing Middlefield. |
"While many favor traffic calming and increased safety for bicyclists and pedestrians, others are concerned about spillover traffic on side streets," she said in a prepared statement. "Contrary to what some residents believe, the MRA is not trying to foist any one solution on them. We do not feel that any outcome is fo... |
The stretch includes the intersection of Bryson Avenue and Middlefield -- deemed the fourth most dangerous intersection in Palo Alto in years past. Because of the high accident rate, a traffic signal was installed earlier this year. A left-turn "pocket" lane was also added. |
Kott said residents have only praised the new light. But bicyclists complain that the lanes don't allow for their safe passage. Kott noted the city's Bicycle Master Plan does call for having bike lanes along Middlefield Road. |
To add a 5- to 6-foot bike lane in each direction, though, one lane in each direction would have to be eliminated. |
The test is planned for a weekday, when traffic is at its peak -- "the worst case scenario," Kott said. He wouldn't reveal the date, however, saying that having a crowd of observers could lead drivers to drive differently. |
He acknowledged the study would not measure traffic diverted to other streets, adding that only a months-long trial could gather such data. |
Following the test, a committee of Midtown residents, bicyclists and others is expected to make a recommendation about whether to proceed with a trial. Their recommendation would be forwarded to the city's planning commission and council. |
Senior Staff Writer Jocelyn Dong can be reached at jdong@paweekly.com. |
Archives|OPPOSES RETURN TO GOLD.; J.M. Keynes Asks British Financial Authorities to Hesitate. |
OPPOSES RETURN TO GOLD.; J.M. Keynes Asks British Financial Authorities to Hesitate. |
Breckenridge Mayor Eric Mamula and town manager Rick Holman will meet with members of the public to talk about current issues and town happenings at 8 a.m. today at the The Living Room Restaurant at the base of Peak 8 at Breckenridge Ski Resort. |
The mayor of Breckenridge will hit the slopes Friday morning as the town’s regular series of Coffee Talks will be held at Breckenridge Ski Resort. |
Residents are invited to join Mayor Eric Mamula and Breckenridge Ski Resort COO John Buhler, along with members of the town council and town manager Rick Holman, at 8 a.m. Friday at The Living Room Restaurant at the base of Peak 8, 1521 Ski Hill Road, Breckenridge. |
The Coffee Talks are informal gatherings in which residents can speak one-on-one with elected officials and town leaders about current issues and happenings in Breckenridge. |
Afterward, Mamula and Buhler will head out on the hill with anyone who would like to join them for a couple of runs starting around 9 a.m. A valid lift ticket or season pass will be required for skiing or riding. For more info, call 970-547-3166. |
LONDON (Reuters) - Investment bank Citi said on Thursday it was time to raise emerging market FX risk in portfolios, citing the aggressive compression in real bond yields in the United States. |
High yielding currencies of central Europe, the Middle East and Africa looked especially attractive in this environment, the bank told clients. |
“It feels like the exact inverse of Q3 last year when US monetary and financial conditions were flirting with a more pronounced tightening,” Citi’s Luis Costa wrote in a note. |
Citi said it had put on a new short position on the dollar versus rand at 13.34 with a target of 12.90, while adding one percent to its Turkish lira position. It is also long on Russia’s rouble verus a half-euro, half-dollar basket, having a target of 62.50 for the rouble against the dollar, and 73.00 against the euro. |
Please find below the details for Mr. Zorawar Kalra. He is the Founder & Managing Director of Massive Restaurants Pvt. Ltd. Zorawar Kalra, a Master's in Business Administration from Boston's Bentley Business University, with an entrepreneurial bent of mind and a genetic love for food, over the years, has studied the In... |
We move forward by moving back! In my opinion, in 2018, diners will prefer classic dishes instead the more commercial one. I see a comeback of the classic dishes such as Shepherd’s pie. In my restaurants, the classic dishes are reinvented with a twist. |
Investors have entered forgive-and-forget mode, Jim Cramer told his Mad Money viewers Monday. The market is learning to accentuate the positives, forget about the negatives and embrace stocks that were hated just last week. |
That's certainly been the case with shares of Walt Disney Co. (DIS - Get Report) , a stock that was hated last quarter on fears of cord-cutting losses at ESPN. This quarter however, shares are at 52-week highs and the company reports earnings Tuesday. Then there's Facebook (FB - Get Report) , the Action Alerts PLUS hol... |
Those same bearish investors panned T-Mobile (TMUS - Get Report) after the company planned to merge with rival Sprint (S - Get Report) . Today though, shares were surging on the promise of a vigorous cellular competitor. |
Investors were also anxious to snap up shares of Henry Schein (HSIC - Get Report) and even Chipotle Mexican Grill (CMG - Get Report) , which fell 7% last week, but rallied 2.5% today. |
But not all stocks can be -- or should be -- forgiven, Cramer cautioned. Shares of Newell Brands (NWL - Get Report) plunged 14.3% today on worries about tariffs and sinking sales from the collapse of Toys R Us, worries that management seemingly didn't have answers for. |
On Monday, we learned about the impeding retirement of PepsiCo (PEP - Get Report) CEO Indra Nooyi, and Cramer offered his congratulations for a job well done. |
During her 12-year tenure, the outspoken Nooyi saw the expansion of Pepsico from 17 to 22 different brands as well as the transition to healthier, more sustainable snacks. Nooyi was instrumental in tripling Pepsico's dividend and she was also an advocate for women and moms in the workplace. |
Cramer said the programs Nooyi put in placed helped shape the company into what it is today, and he expects no less from the company's incoming CEO -- Ramon Laguarta, president of the company since 2017 -- who has studied under Nooyi for years. |
Over on Real Money, Cramer says consumer staples stocks are not done rallying. Get more of his insights with a free trial subscription to Real Money. |
Are shares of travel giant Expedia (EXPE - Get Report) finally getting their groove back? Shares fell last year from $160 to below $100 in February, but are now up 21% over the past three months. |
Cramer explained that last year, Expedia was hit with the one-two punch of falling revenues from hurricane season and increased competition, as well as a 22% increase in its sales and marketing expenses. While the company justified its spending as necessary for growth, investors shunned the stock as Expedia missed on t... |
But in April, Expedia reported numbers that were better than expected and were the beginning of their turnaround. The company also initiated a 15 million share repurchase program that represented 10% of the outstanding shares. By this quarter, growth had returned to 18% and Cramer said the company still has a lot of op... |
With shares trading at just 12 times earnings with a 16% long-term growth rate, Cramer said he'd be a buyer right here and would buy even more on weakness. |
For his "Executive Decision" segment, Cramer sat down with Richard McVey, founder, chairman and CEO of MarketAxess Holdings (MKTX - Get Report) , the bond trading platform with shares that are up 250% over the past five years. In recent months however, shares of MarketAxess are down 20% from their March highs. |
McVey explained the bond markets have been pretty calm as of late, and less volatility translates into fewer people trading. There are more clients using their platform however, and his company's international and emerging markets business remains strong. Electronic trading also continues to take marketshare around the... |
So what will help spur more trading volume for a business that's 85% commission driven? McVey said the Federal Reserve's end to quantitative easing later this well help, as will the continued increase in federal spending and deficits. |
Cramer said that MarketAxess was the best in the business, and as soon as volatility returns in the bond market, this company is poised for success. |
In his second "Executive Decision" segment, Cramer sat down with Robert Friel, chairman, president and CEO of PerkinElmer (PKI - Get Report) , makers of diagnostic and testing equipment. Shares of PerkinElmer are up 20% in 2018. |
Friel said his company is seeing broad-based growth thanks to three driving factors. First, they've improved their portfolio to focus on high-growth areas. Second, they've increased research and development spending, which is now yielding new, innovative products. And third, PerkinElmer is executing better overall as a... |
Friel continued by explained that about 25% of sales stem from environmental testing, 40% from diagnostic testing at a doctor's office, and another 35% from pharmaceutical testing products. As countries around the globe, including China, spend more on healthcare, they spend more with PerkinElmer. |
In the Lightning Round, Cramer was bullish on Nucor (NUE - Get Report) , The Trade Desk (TTD - Get Report) , EPR Properties (EPR - Get Report) and Enbridge Energy Partners (EEP . |
Cramer was bearish on LendingTree (TREE - Get Report) , Zillow (Z - Get Report) , Philip Morris International (PM - Get Report) , Opko Health (OPK - Get Report) , United States Steel (X - Get Report) and Nokia (NOK - Get Report) . |
At the time of publication, Cramer's Action Alerts PLUS had a position in FB, PEP, NUE. |
Published: Sept. 12, 2007 at 09:51 p.m. |
Updated: July 26, 2012 at 08:55 p.m. |
PITTSBURGH -- The Pittsburgh Steelers have known for years their fan base included countless women -- that was evidenced by all the pink official team jerseys they sell and the hundreds who attend their female training camp each summer. |
Yes, more than 300 women spend money each year to go through a simulated day of Steelers training camp, complete with blocking and running drills and a trip to the training table. The club also sponsors a Football Knowledge for Women classroom-type course. |
Now the Steelers have proof that, when it comes to building a female fan base, Pittsburgh does it better than any other NFL market. |
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