Shopping Abroad: China’s Rich Seek Shelter from Stock Market Storm in Foreign Property

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Around 91,000 wealthy Chinese sought second citizenship between 2000 and 2014, a factor that is fueling demand to buy foreign property

Jane Wardell and Kate Holton report: Realtors in Australia, Britain and Canada are bracing for a surge of new interest in their already hot property markets, with early signs that wealthy Chinese investors are seeking a safe haven from the turmoil in Shanghai’s equity markets.

“There is anecdotal evidence that Chinese buyers have intensified their interest in ‘safe haven’ global property markets, including London, as a result of the recent stock market volatility.”

Sydney realtor Michael Pallier said in the past week alone he has sold two new apartments and shown a A$13.8 million ($10.3 million) house in the harbourside city to Chinese buyers looking for an alternative to stocks.

“A lot of high net worth individuals had already taken money out of the stock market because it was getting just too hot,” Pallier, the principal of Sydney Sotheby’s International Realty, said. “There’s a huge amount of cash sitting in China and I think you’ll find a lot of that comes to the Australian property market.”

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“It is unusual to see the Chinese block buying, it implies that this is a capital movement rather than just individuals looking to park money.”

Around 20 percent has been knocked off the value of Chinese shares since mid-June, although attempts by authorities to stem the bleeding are having some effect.

Many wealthy Chinese investors had already cashed out. Major shareholders sold 360 billion yuan ($58 billion) in the first five months of 2015 alone, compared to 190 billion yuan in all of 2014 and an average of 100 billion yuan in prior years, according to Bank of America Merrill Lynch.

While much of that money may initially be parked in more liquid assets like U.S. Treasury bonds and safe-haven currencies such as the Swiss franc, there is growing evidence that foreign property sales may receive a boost.

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“Chinese investors had already sunk around $5 billion into U.S. real estate in the first six months of 2015, more than the $4 billion they invested in the whole of 2014.”

“There is anecdotal evidence that Chinese buyers have intensified their interest in ‘safe haven’ global property markets, including London, as a result of the recent stock market volatility,” said Tom Bill, head of London residential research at Knight Frank.

Ed Mead, executive director of realtor Douglas & Gordon in London, said his firm had seen two buyers from China looking to buy whole blocks of flats.

State Department officials said they are reviewing the sale of the famous hotel to a Chinese insurance company with possible ties to the country's Communist Party. JUSTIN LANE/EPA

State Department officials said they are reviewing the sale of the famous hotel to a Chinese insurance company with possible ties to the country’s Communist Party. JUSTIN LANE/EPA

“It is unusual to see the Chinese block buying, it implies that this is a capital movement rather than just individuals looking to park money.”

RICH EXODUS

Since 2000, China has had the world’s largest outflow of high net worth individuals. Around 91,000 wealthy Chinese sought second citizenship between 2000 and 2014, according to a report by residence investment broker Lio Global, a factor that is fueling demand to buy foreign property. Read the rest of this entry »


‘Mad Men’: The Uncensored, Epic, Never-Told Story Behind AMC’s Critical Darling

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In 2001, Matthew Weiner writes his first Mad Men script, which goes nowhere until 2005, when AMC decides to shop for its first original scripted series.

Matthew Weiner (creator) I finished the script and sent it to my agents. They didn’t read it for three or four months. (They’re not my agents anymore.) I was advised not to send it anywhere because that was at a time when there were big overall deals for comedy writers. People would pay for the anticipation of what your project would be, and actually having one was going to hurt you. I kept trying to get into HBO, but I never got a meeting. And I met with FX, which Kevin Reilly was running at that time. He talked to me about making it into a half‑hour. Then people started talking to me about a feature. It was my manager’s assistant who gave AMC the script. That’s who they were pawned off on.

Rob Sorcher (former executive vp programming and production, AMC) I’d relocated to the East Coast, and I’m working at this network, AMC, that has a collection of shit-ass movies. It’s like the lesser TCM, and I’m supposed to turn it into something. [What the network needed was] a show for cable operator retention. You want something that can’t be replicated elsewhere — like a Sopranos — because if you have a signature show, then you won’t be dropped [by cable operators]. So your strategy becomes: Let’s go for quality. But we have no money. So I hire Christina Wayne, who’s never done a thing in her life in terms of an executive.

Christina Wayne (former senior vp scripted programming, AMC) Years earlier, I’d wanted to option Revolutionary Road [Richard Yates‘ novel about suburbia in the 1960s]. But I was a nobody screenwriter, and [Yates’ estate] held out for bigger fish, which they got with Sam Mendes. So when I read [the Mad Men script], it resonated with me. This was a way to do Revolutionary Road, week in, week out. When we had lunch with Matt for the first time, I gave him the book. He called me after and said, “Thank God I’d never read this because I never would have written Mad Men.”

Weiner [My agents] were like, “You’re going to be coming off The Sopranos. I know you love this project, but don’t go [to AMC]. It’s really low status, no money, and even if they do it, they’ve never made a show before, and you don’t want to be their first one.”

Sorcher Every possible reason on paper why this should not work was cited: It’s super slow, it’s [about] advertising, everybody smokes, everybody’s unlikable and it’s period. We couldn’t sell it.

Jeremy Elice (former vp original programming, AMC) We sent it out looking for potential partners and got some nice responses, but generally speaking it was, “Yeah, not for us,” and “Who the f— is AMC?”

Wayne So we self-financed the whole thing ourselves. The pilot cost $3.3 million, and we did it in New York in the downtime when Sopranos was [on hiatus]. We used all of their crew.

JANUARY JONES AS … PEGGY?
Casting for the pilot begins in 2006. Weiner and AMC agree on hiring unknown actors.

Weiner There were famous people who came in to read. The guys from That ’70s Show came in — not Ashton, but the other guys. I’m still impressed by Danny Masterson. But at a certain point, it was working against them. My theory was that The Sopranos casting was great because you didn’t know who any of those people were.

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Jon Hamm (Don Draper) Some people went in once and got cast; there was a little more reticence with me. I was on the bottom of everyone’s list. The one person who was an early champion of mine was Matthew.

Weiner Back in [2006], there were no handsome leading men. It was not the style. Not that Jim Gandolfini‘s not handsome, but he’s not Jon Hamm. There are moments in time when it’s Dustin Hoffman and moments in time when it’s Robert Redford. It was a Dustin Hoffman era. People like me or Seth Rogen got the girl, and people likeBradley Cooper were standing on the side of the street being like, “Come on!”

Wayne Matt sent us two actors: Jon Hamm and Mariska Hargitay‘s husband,Peter Hermann. The quality of the that we were using sucked, and you couldn’t see how good-looking Jon Hamm was. We were like, “Really, this is who you think?” And Matt said, “Absolutely.” He’d been in the room, and he felt something with Jon. We had him come in again. We had to be sold, so we flew Jon to New York and took him for a drink at the Gansevoort hotel. He was nervous, but I knew that he had star potential. I whispered in his ear before he left, “You got the job.”

Elisabeth Moss (Peggy Olson) I was the first person to audition for Peggy. Matt showed us all our audition tapes at a gathering, and it’s hilarious because I don’t look anything like Peggy [in the tape]. I’m 23, blond, tan. I look like I just walked off of the beach.

John Slattery (Roger Sterling) I went in to read for Don; they wanted me to play Roger. Matt Weiner claims I was in a bad mood the whole [pilot]. I had a couple of scenes, but I wasn’t as emotionally invested as some of the people because there wasn’t that much of Roger in evidence yet. Being a selfish actor, I didn’t necessarily see the full potential in the beginning.

Christina Hendricks (Joan Holloway) I was up for another pilot, and I chose Mad Men. The [agency I was with] was like, “It’s on AMC, it’s a period piece, it’s never going to go. Are you crazy? You’re not going to make money for us …” I thought it was a little impatient of them. So I moved on.

January Jones (Betty Draper) I came in for Peggy twice. Matt said, “Well, there’s another role, but I don’t really know what’s going to happen with her.” He didn’t have any scenes for me, so he quickly wrote a couple.

Weiner It had been years since I wrote anything in the pilot. And all of sudden, I need a scene by tomorrow for a character who only has three lines.

Vincent Kartheiser (Pete Campbell) I only auditioned for Pete. My agents aren’t delusional enough to think that I’m a Don Draper.

Alison Brie (Trudy Campbell) I looked up a picture of Vincent Kartheiser and was like, “Oh my God. We kind of look like brother and sister. I could totally be his 1960s wife.” Couples kind of looked alike then.

Weiner Alison Brie was a big lesson because we couldn’t afford to make her a series regular. And we gambled [Community] wouldn’t happen. We were wrong.

DonDraperCoke

HOW DICK BECAME DON
Weiner shoots the pilot on location in New York in 2006, but AMC struggles initially to line up financing.

Sorcher Matt had an extremely clear vision for the show. We had only one or two notes that were key.

Wayne We said to Matt, “OK, this is a great show about advertising, but what are people going to talk about week in, week out? What’s the bigger story for Don?” He went off, and a few months later he came back and pitched the entire Dick Whitman/Don Draper story. We were mesmerized. Read the rest of this entry »


[VIDEO] Flying Over Beijing: What Does it Look Like When Most of the Population of a Vast Metropolis Sets Off Fireworks at Once?

What does it look like when most of the population of a vast metropolis sets off fireworks at once? YouTube contributor Parelius was flying into Beijing at midnight last week on Chinese New Year and captured this awesome footage of his view through his window on the plane: fireworks, both large and small, going off all over the city. It’s such a dazzling sight, we feel like we should be holding sparklers while watching.

[via Sploid]


Daniel Greenfield: The Sydney Hostage-Taker, Rapist, Murderer and Terrorist, Should Never Have Been in Australia

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 writes: Sheikh Haron moved to Australia from Iran in 1996. During that time he was involved in murder, sexual assault and support for terrorism in the most blatant ways possible.

In two decades, he wasn’t expelled from the country despite a laundry list of crimes and horrible behavior like sending Jihadist letters to the families of soldiers killed in Afghanistan.

The core problem is that Haron and all the others like him should…

1. Never have been allowed into Australia

2. Should have been forcibly deported after their first crime, their first act of support for terrorism

The media’s official narrative is that Sheikh Haron is mentally ill. Just another lone wolf. Just more workplace violence. There’s no point in even wasting time debating that. Read the rest of this entry »


Sydney Siege: Live Updates

WSJ-blog-Aus-gunmen

Armed police shut down central Sydney after a suspected gunman took people hostage in a cafe on Monday and placed an Islamic flag in the window, sparking concerns that a terrorist attack was under way. So far, five people have safely exited the cafe and police are preparing to negotiate through the night with the gunman…(more)

Follow WSJ’s live blog

 


BREAKING: Sydney siege: Hostages Taken in Lindt Cafe, Islamic Flag Reportedly Flown

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Hundreds of armed police have sealed off Martin Place in Sydney’s central business district

At least one gunman has taken several people hostage at a cafe in the Australian city of Sydney.

Pictures on Australian television show at least three people with their hands up against a window, and a black flag with Arabic writing.

“All Australians should be reassured that our law enforcement and security agencies are well trained and equipped and are responding in a thorough and professional manner.”

— Australian Prime Minister Tony Abbott

Hundreds of armed police have sealed off Martin Place in Sydney’s central business district.

Armed police patrol the vicinity at Lindt Cafe, Martin Place on Dec. 15, 2014 in Sydney, Australia. Don Arnold/Getty Images

Armed police patrol the vicinity at Lindt Cafe, Martin Place in Sydney, Australia. Don Arnold/Getty Images

[Also see – Police Operation Under Way in Sydney Financial District – ABCNews.com]

New South Wales police have asked people to avoid the area.

An Australian Broadcasting Corporation reporter said that gunfire had been heard at the scene, the Lindt chocolate cafe – but this has not been confirmed.

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Police have also said that they are dealing with an “incident” at the Sydney Opera House which has been evacuated.

Local media are reporting that a suspicious package was found there on Monday.

Australian Prime Minister Tony Abbott has described the incident as “deeply concerning” in a statement. Read the rest of this entry »


Letting in the Wrong Refugees

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Michelle Malkin writes: Fresh terror busts in Australia expose a common Achilles’ heel of the West: Indiscriminate refugee policies turn free countries into breeding grounds for jihad. It’s the same game in America. Soldiers of Islam have weaponized our blind generosity against us.

“Instead of slowing down refugee admissions from terror-sponsoring and terror-supporting states, the Obama administration has jacked them up.”

In Sydney this week, authorities detained a half-dozen Muslim plotters and arrested a top collaborator in an alleged conspiracy to kidnap and behead a random Australian citizen. The accused mastermind? Afghan refugee turned Aussie Islamic State recruiter Mohammad Ali Baryalei. He and his aristocratic family were welcomed Down Under decades ago. Baryalei returned the favor by taking to the streets of Sydney to recruit and radicalize dozens of fellow Screen-Shot-2014-09-19-at-6.59.25-AM-e1411131600327Muslim immigrants or their children.

“Sharrouf is now based in Syria, where he infamously tweeted a photo of his elementary school-age son brandishing a severed human head.”

Baryalei’s minions include Australian jihadist Khaled Sharrouf, the homicidal son of Lebanese immigrants. Sharrouf is now based in Syria, where he infamously tweeted a photo of his elementary school-age son brandishing a severed human head.

“In our heartland, Minneapolis has become ‘Little Mogadishu’— a haven for Somali refugees targeted by Islamic supremacists.”

The Sydney Beheading Bust comes on the heels of a separate outbreak of violence by Afghan refugees aligned with the terror group Hezbollah. In late August, Aussie police broke up a bloody riot involving members of the “420 gang” — Muslim teenage boys and young men who post sword-wielding, AK-47-toting selfies on social media. The self-described “Shia soldiers” quote Hezbollah militant imam Hassan Nasrallah online, while wreaking havoc in Sydney slums offline. Read the rest of this entry »


[VIDEO] Rogan: White House Has Displayed Willful Delusion over ISIS Threat

National Review Online


Sydney Leathers may have been exposed to HIV during porn filming

The Daily Caller

By Sarah Hofmann

Anthony Weiner’s sexting partner Sydney Leathers may have been exposed to HIV after sharing a sex partner with another porn actress who recently tested positive for the incurable virus.

Cameron Bay, who’s been in porn since 2010, came forward to AVN on Wednesday to admit that she may have contracted the virus, bringing all porn production and filming to a screeching halt. Read the rest of this entry »