Federal Budgeting After September 11th: A Whole New Ballgame,or Is It Déjà Vu All Over Again?

Federal budgeting has undergone some profound changes since the tragic events of September 11th, 2001. Large surpluses that existed prior to September 11th and were forecast to continue have been replaced by equally large and intractable deficits. The consensus around a macro‐level norm for federal budgeting has completely broken down. In other ways, the federal budget process has not changed at all. Despite the emphasis on defense and homeland security, domestic discretionary spending is still continuing unabated, as it has since the late 1980s. Further, the federal government continues to have chronic difficulty adopting its budget in a timely fashion.     

The China–asean Free Trade Agreement And Taiwan

While China's move toward a FTA with ASEAN reflects Beijing's most recent foreign economic policy adjustment and represents a new stage in the nation's open-door policy, it inevitably produces significant impact on cross-Taiwan Straits relations. This recent development in China's foreign economic relations brings not only substantial psychological and real effects and pressure on Taiwan for its possible isolation and marginalization from the ongoing process of regional integration in East Asia, but also growing pressure exerted by the island's business community that fears being pushed into a disadvantageous position in competition with ASEAN companies in the ever expanding and lucrative market of the mainland. For strategic, diplomatic, and economic considerations in the face of this new challenge, Taiwan is pursuing counter-measures by searching for its own FTAs with other countries within and beyond the region.     

Corporate governance in Germany: The changing role of the banks

The article analyses the different channels ‐ industrial stakes, supervisory board mandates, proxy voting ‐ by which German banks can exert influence on industrial companies. The central thesis is that even where the banks have such influence they do not dominate the companies. A recent empirical study on the effects of the alleged bank dominance over industrial companies with detrimental effects on their performance is shown to contain major methodological mistakes. The relationship between banks and industry is undergoing some distinct changes. Banks have substantially reduced their industrial stakes as well as their representation on supervisory boards, which underlines that they are not striving for industrial leadership. Despite a clear trend in the German corporate sector to pay increasing attention to shareholder value and to provide more transparency in accounting, it seems premature to expect the German capital market, including the corporate governance system, to incorporate fully the Anglo‐Saxon model in the immediate future.     

Schranken des Rechts zur Pflichtteilsminderung nach § 773a Abs 3 ABGB

Das Recht auf Pflichtteilsminderung steht nach § 773a Abs 3 ABGB nicht zu, wenn der Erblasser die Ausübung des Rechts auf pers?nlichen Verkehr mit dem Pflichtteilsberechtigten grundlos abgelehnt hat. Im Rahmen dieser Bestimmung sind minderj?hrige und erwachsene Kinder gleich zu behandeln. § 773a Abs 3 ABGB ist auch auf solche Testamente anzuwenden, die vor dem 1. 7. 2001 (Inkrafttreten dieser Bestimmung) verfasst worden sind. Zum Entfall des Minderungsrechts führt aber nur ein Verhalten, das der Erblasser nach dem 1. 7. 2001 gesetzt hat. Für Dauersachverhalte (hier: das Verh?ltnis Eltern und Kind) gelten die Rechtsfolgen eines neuen Gesetzes ab seinem Inkrafttreten; mangels abweichender übergangsregelung ist der Teil des Dauertatbestands, der in den zeitlichen Geltungsbereich des neuen Gesetzes reicht, nach der neuen Rechtslage zu beurteilen.