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The average yield on GE's loans is 7% and in a world in which yields on most assets are at rock bottom, they are enticing.
What emerged, among other details, was that Mrs Bettencourt had failed to declare assets to the French tax authorities (France levies an annual wealth tax on most assets over the value of €790,000, or $964,000).
The estate tax — which was allowed to lapse this year and was scheduled to resume at a rate of 55 percent on most assets above $1 million — will be reinstated under less onerous terms.
Record low interest rates across much of the rich world are also taking their toll, depressing returns on most assets and dampening the volatility that generates profits in many trading businesses.
Now President Nicolas Sarkozy is thinking of doing away with it next year.Officially called the "solidarity tax on fortunes", the wealth tax is paid at a rate of 0.6 1.8% on most assets worth more than €790,000 ($1.05m), including property, jewellery, race horses, wine, boats and private jets (though not works of art).
Similar(51)
The yields on most asset classes fell and, since yields have an inverse relationship with prices, stockmarket indices rose sharply.
That proportion was down from 16.1 percent in 2007, however, and was the lowest since 2004, reflecting the impact of the collapse in asset values on those who owned the most assets.
Personally I'd guess that they're planning on multiple form factors and trying to determine what scales best, how to share the most assets, and so on.
Almost alone in Europe, France imposes a yearly "fortune" tax on most biggish assets.
Third, there is a growing sense of outrage at the vast sums the government has spent on the public sector to less than optimal effect, while the wealth-creating side of the economy has been weighed down with regulations and tax.Take the high-handed decision announced in October to raise capital-gains taxes to a flat 18% from an effective 10% on most business assets.
During the 1990s, most asset prices soared.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com