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Article: Ship of State locked into land empire: Department delays as GAO, Congress urge real estate sale.(Business Times)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- November 4, 1996
- Author:
CopyrightCOPYRIGHT 1996 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Warren Christopher - real estate baron.
While riding diplomatic shotgun for the world's lone superpower, the secretary of state sits atop a $10 billion global property empire covering embassies, consulates, warehouses, parking lots, apartment buildings, an 8-acre grove used by the king of Morocco to grow oranges, a plush beachfront estate in Bermuda and a property in depressed downtown Kinshasa, Zaire, leased to a satellite-dish company.
With the budgetary cupboard bare, Mr. Christopher faces many of the same dilemmas afflicting his private-sector counterparts: criticism for moving too slowly to sell unneeded assets and admonitions not to sell too ...