May 7, 2010 Nº 903 - Vol. 8
“Finance: The art or science of managing revenues and resources for the best advantage of the manager. The pronunciation of this word with the i long and the accent on the first syllable is one of America's most precious discoveries and possessions.”
Ambrose Bierce
Devil’s Dictionary
In today’s Law Firm Marketing, Your marketing efforts sink, swim or soar depending on how well you satisfy the "Big C".
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Read Migalhas LatinoAmérica in Spanish every Tuesday and Thursday. Visit the website at www.migalhas.com/latinoamerica
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Greece: default is no soft option
Many investors now think a Greek default - or debt restructuring - is inevitable at some point. They may be right. But it's no soft option. The head of the European Central Bank once again said that a Greek default "would not happen". Imagine the Greek government stopped paying interest on its debt tomorrow. It would still have a primary deficit - excluding interest payments - of more than 8% of national income, and it might not have anyone to borrow that money from. That could mean more austerity, not less, especially if the country remained in the euro. There would also be the collapse of the domestic banking system to consider, Greek banks being the largest holders of Greek sovereign debt. And that's before you get even to the costs of contagion for other countries, as investors wondered who would be next. As you'd expect, there's no rule book for countries seeking to default on their debt. It's not something the international system likes to encourage. But it's not as if it has never happened. There have been 40 defaults by sovereign governments in the past 20 years alone, and more than 70 since 1980. Many of those governments were able to borrow again quite soon after - sometimes in a matter of months. But only when they were able to do a deal with all - or nearly all - the bond-holders on how much of the debt would get repaid - and over how long.
Market drop fueled by a crisis, anxiety and an error
In one of the most dizzying half-hours in stock market history, the Dow Jones industrial average plunged nearly 1,000 points Thursday afternoon amid worries about European debt. Within a few minutes, the United States stock market appeared to be collapsing. Some of the decline was real, but another part of it was simply trading gone awry. The Dow managed to recover two-thirds of its losses and closed down 347 at 10,520. But all the major indexes lost more than 3 percent in a day that recalled the market turmoil of the 2008 financial crisis. Fears were running high in the markets that the Greek government will not be able to implement austerity measures that would enable it to contain its debt problems. And, in turn, that the country's problems will hurt other economies in Europe and perhaps the U.S.
Before you open the door to the boardroom, peek through the keyhole!
Michael Page specializes in the placement of candidates in permanent, contract, temporary and interim positions within client companies around the world. Have a look at the new section of the Migalhas website and discover the professional development opportunities with large corporations, in legal and business fields, presented by Michael Page International. Click here to peep through the hole!
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2 - Investigators closing in on black box of French jet (Click here)
3 - Goodluck Jonathan sworn in as Nigeria's president (Click here)
4 - Conviction quashed: prisoner walks free after 30 years (Click here)
5 - Oil Spill Lawsuits Spreading Fast (Click here)
6 - Democrats take on Supreme Court over age discrimination law (Click here)
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MiMIC Journal
China stocks fall to eight-month low as Europe crisis spreads
China's stocks fell, sending the benchmark Shanghai Composite Index to an eight-month low, as concern Europe's debt crisis will halt the global recovery spurred the biggest drop in U.S. equities in a year.
Yuan revaluation `shock' would slow, not assist, global growth
A yuan appreciation is likely to slow global economic growth and backfire on countries such as the U.S. that called for a stronger Chinese currency, according to the Inter-American Development Bank.
Your marketing efforts sink, swim or soar depending on how well you satisfy the "Big C"
by Trey Ryder
A few years ago I created a to-do list for my business (different from my to-do list for clients). Nearly every day I would add something to the list. Soon, I had over five pages of things to do -- tasks I viewed as important enough to interrupt what I was doing so I could add them to my list.
Before long, every time I opened the document I got depressed. I was always adding to the list, but almost never crossing anything off.
Why? I discovered I had a number of well-worn excuses:
I don't have enough time. The project seems too big. It won't hurt to put it off a little longer. I feel no pressure to get it done. Maybe it isn't important after all.
When I looked at the tasks I did complete, I assumed they would match my highest priorities. Right? Wrong!
I surprised myself to learn that priority had almost nothing to do with it. Instead, the major factor in my decision to complete these tasks was the Big C: Convenience.
I could finish them quickly and easily. I could complete them in one sitting. And I felt really good when the job was done: instant gratification.
So, what did I do with my 5-page to-do list? I deleted it. Now I feel much better.
When your prospective clients need to hire a lawyer, do they hire you? Or are they skilled at finding ways to "put it off until tomorrow" -- or much later?
I encourage you to make every aspect of your law practice convenient for both your prospects and clients -- because if they face any obstacles, they may have all the reason they need to do nothing.
Now, here are 12 smart ways to make your law practice more convenient for prospects and clients:
Smart Way #1: Make sure prospects find it easy to learn about you. This includes having an education-based web site that answers their questions and explains in detail how you can help them. Also, I suggest you have an educational packet that contains articles and information about your services. Prepare one hard-copy packet so you can send it by mail. And have the same packet in a form that you can send it by e-mail.
Smart Way #2: Make sure prospects find it easy to reach you. Do you accept phone calls from prospects -- or do you insist that they come into your office before you'll speak with them? Do you offer a toll free number -- or do prospects have to pay to call you? Do you respond to e-mails from prospects? The more convenient you make it for prospects, the more calls you'll receive.
Smart Way #3: Make sure clients find it easy to reach you. Are you available by pager or cell phone in an emergency? Can a client reach you quickly and easily on the phone? Do you return calls promptly?
Smart Way #4: Make sure prospects find it easy to get to your office. Is your office on or near a major street? Is your parking area close to your building or office? Is your office at a convenient location in the building? If on the second floor or higher, is the elevator close by?
Smart Way #5: Make sure prospects find it easy to meet with you. If prospects have a hard time coming to your office, will you go to their home or office? If weekdays are difficult for them, will you meet with them in the evening or on a weekend?
Smart Way #6: Make sure prospects find it easy to hire you. Can they hire you without having to drive to your office? Can you send your engagement letter or contract by fax or e-mail? If you have an established relationship, can they hire you simply by calling you on the phone? Or by sending you an e-mail? Can they hire you without a retainer?
Smart Way #7: Make sure prospects find it easy to pay you. Will you accept personal checks? How about credit cards? Do you offer a payment plan? Can you provide self-addressed, stamped envelopes to make sending their payment to you more convenient?
Smart Way #8: Make sure prospects and clients find it easy to provide you with the information you need. Do you have a form they can fill out and send by fax or e-mail? Do you provide business reply envelopes where you pay return postage? For larger packets, do you provide self-addressed UPS or FedEx labels?
Smart Way #9: Make sure prospects and clients find it easy to remember appointments and other important dates. Do you send them a calendar of upcoming dates, including what you need from them -- or expect of them -- by those dates? Do you send letters or e-mails reminding them of appointments? (A more tactful way to remind them of an appointment is to ask instead if this time is still convenient for them.)
Smart Way #10: Make sure clients know when to call you to update documents. You might provide them a list of criteria or events that should prompt them to contact you.
Smart Way #11: Make sure clients find it easy to refer their friends and colleagues. You might mail to each client your referral brochure, which contains a complete listing of your services and contact information. Consider providing clients with referral postcards they can give to friends and colleagues to request a meeting with you. Offer educational seminars so clients can bring friends to meet you and hear your message in person.
Smart Way #12: Make sure clients find it easy to remember you. You might provide things that contain your contact information, such as calendars and paperweights. Send cordial-contact letters. Mail them your newsletter. Don't overlook greeting cards, gifts and donations given in their name. And consider hosting special events like art walks and wine tastings.
In summary: Convenience is a big factor in how prospects and clients respond to your marketing efforts. Don't allow even the slightest obstacle to come between your prospects and you. Instead, emphasize how easily prospects can do business with you. In this way, you melt the ice that freezes many prospects in place -- and help them realize that working with you is an easy, positive, rewarding experience.
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© Trey Ryder
FREE LAWYER MARKETING ALERT: If you'd like to receive Trey Ryder's weekly Lawyer Marketing Alert, send an e-mail to [email protected]. Write "Subscribe LMA" in the subject line and write your name and e-mail address in the body of the message.
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Petróleo
La empresa británica Rockhopper anunció el hallazgo de petróleo en la cuenca norte de las islas Malvinas. El gobierno de Argentina calificó de ilegalmente la exploración del recurso y dijo que llevará el caso a la reunión de presidentes de la Unión Europea y América Latina, a realizarse en Madrid la próxima semana. (Presione aquí)
Exportaciones
Los ingresos por las exportaciones de banano de Ecuador, el mayor vendedor mundial de esa fruta, crecerían un 17 por ciento interanual este año a 2.100 millones de dólares por una mayor demanda, proyectó el jueves un representante de la industria.
Deuda
La petrolera estatal chilena ENAP planea refinanciar deuda por más de 300 millones de dólares este año, al tiempo que ve un impacto negativo "muy importante" en sus resultados del primer trimestre por el terremoto.
Sentencia
Ecuador debe pagar US$ 682 198,51 a la empresa Varaderos y Talleres Durán (Vatadur), dice una sentencia del Tribunal Arbitral constituido bajo el reglamento de la Comisión Interamericana de Arbitraje Comercial (CIAC) con sede en Miami, Estados Unidos. La deuda esta referida a un saldo que debía el Estado por tres lanchas ambulancias que compró a esa compañía en marzo del 2004.
Turkish legal experts decry rule of judiciary
The constitutional reform package presently before Parliament is important for Turkey, but it is not enough, according to legal experts gathering in Istanbul on Thursday. ‘The closed caste system’of the high judiciary is an obstacle for Turkey on the path to democracy, the scholars say, adding that many judges do not want to give up their powers. Turkey is ruled by judges, not the people, according to a panel of legal experts that met Thursday in Istanbul. Scholars from the Turkish Economic and Social Studies Foundation, or TESEV, prepared a report offering their evaluations and suggestions for a better legal system in Turkey while also discussing the positive and negative aspects of the government's constitutional reform package. Those attending largely agreed that the Turkish high judiciary is a closed caste system that protects not the individual or the society but the state itself.
Seychelles announces creation of UN-backed piracy court
The UN Office on Drugs and Crime (UNODC) announced on Wednesday that the island nation of Seychelles will create a UN-supported center to prosecute suspected pirates. The center will accept and try pirates captured by the European Union Naval Force Somalia (EU NAVFOR) off the coast of Somalia and surrounding areas. This will be the second such court established for the prosecution of pirates, following only Kenya. Seychelles has received international support for its actions against piracy through the joint UN, EU Counter-Piracy Program. The program has also assisted the country in preparing to hold piracy trials. In March, Seychelles began the trial of 11 accused pirates captured last year after amending its criminal code to resemble international standards.
Solicitors step into?appeal on legal privilege
A drive by accountants to win legal privilege over confidential documents has provoked the Law Society to intervene in a high-profile court case. The organization, which represents solicitors, has won permission to take part in an appeal brought by Prudential, the financial services company, against demands that it hand over advice on a tax planning scheme to the Revenue. The Prudential case highlights long-standing tension between the professions over legal professional privilege – the confidentiality of communications between a lawyer and a client – which some accountants consider an unfair advantage to the legal profession.
FCC to redefine how it regulates broadband
The FCC is seeking to reclassify broadband as a communications service, giving the agency the power to ensure that Americans have access to the Internet same as they do telephone service. But the plan is likely to face legal challenges from the telecommunications industry.
Versace wins $20m compensation
Italian fashion house Versace has been awarded $20m (£13.4m) in damages by a court in the US city of Los Angeles for willful counterfeiting. Following a complaint from Versace, police charged 110 people in southern California and Arizona in 2003 for selling fake Versace goods. The company cut a quarter of its workforce last year, blaming a slump in demand for luxury goods and designer items.
What any Goldman settlement might entail
In the wake of a Senate hearing and the disclosure of the Justice Department's criminal inquiry, speculation has swirled that Goldman Sachs may try to settle the Securities and Exchange Commission's civil fraud case. Although Goldman has steadfastly maintained that it did nothing wrong and will defend itself, pressure is building on the firm to put the case behind it as Congress uses Goldman as a convenient punching bag in its debate over financial regulation while some clients rethink their use of its services. With Goldman's annual shareholder meeting this Friday, where even more questions are likely to be raised about the firm's position, it is worth considering what it might take to resolve the various lawsuits and inquiries into how Goldman operated as a purveyor of exotic securities.
Enron play to close on Broadway
A British play about the collapse of Enron is to close on Broadway after just 15 performances and 22 previews. When it opened in New York last month, the critics were unenthusiastic.
Air France crash 'black box site found in Atlantic'
The flight recorders from an Air France plane which crashed in the Atlantic last year have been located to within a 5km zone, a French official has said. But Gen Christian Baptiste told AFP that retrieving the boxes from the ocean floor might be impossible.
Honduras row endangers EU-Latin America summit
South American leaders have threatened to pull out of a scheduled EU-Latin American summit in Spain if Honduras President Porfirio Lobo attends. Some leaders of the 12-nation South American Unasur bloc urged Spain to revoke Lobo's invitation. Chavez and Lula were among the leaders backing the move. They still refuse to accept Lobo's government because of the way his predecessor, Manuel Zelaya, was ousted.
War crimes suspect arrested in Kosovo
A war crimes suspect has been arrested by European Union police officers in Kosovo. The suspect is accused of torturing prisoners between April and June 1999 at a detention facility run by the KLA in the town of Kukes, northern Albania.
The arrest was made by the European Union Law and Justice Mission (Eulex).
Indian Supreme Court rules in favor of Mukesh Ambani reliance in gas suit
India's top court ruled in favor of billionaire Mukesh Ambani's Reliance Industries Ltd. in a dispute between the world's richest brothers over gas from a field with $38 billion of reserves.
Did babies violate child labor laws?
The documentary ‘Babies’ might have violated child labor laws. Under California law, infants are only allowed to be filmed for 20 minutes a day, and must be at least 15 days old. Since one of the babies featured in the documentary — which chronicles the lives of four babies from birth until their first steps — is from California, the filmmakers could have violated the law. Though the director, Thomas Balmes, said he hardly disturbed the lives of his subjects — and that the babies weren't actually working — an investigation could be greenlit against the filmmakers if the state labor commissioner's office sees it fit. If it's decided ‘Babies’ did violate the law, the filmmakers could be fined anywhere from $50 to $5,000, and be precluded "from getting a permit to film in California in the future," according to the commissioner's office.
Brazil antitrust agency sees law in '10
The head of Brazil's antitrust regulator said he expects a bill aimed at modernizing the country's antitrust system to be approved by the end of the year. Arthur Badin said the watchdog known as CADE would keep close tabs on Brazil's expanding construction industry for potential anti-competitive practices. A bill aimed at reducing the time it takes for the antitrust regulator to analyze merger and acquisition cases has been approved by various commissions and now must be approved by the Senate and the Lower House of Congress. The changes, if approved, would reduce the time it takes to assess simpler cases, which constitute 90 percent of all those taken up by CADE, to a maximum of 20 days from an average of 60 days currently.
Argentina lower house passes same-sex marriage bill
The Argentine Chamber of Deputies voted 126-109 Wednesday in favor of a bill to legalize same-sex marriage in the country. The bill would also give gay couples the right to adopt children, one of the bill's more controversial provisions. The legislation has been under consideration since last year, with more than 50,000 marching in support of same-sex marriage last November. Lawmakers debated the legislation for more than 12 hours before voting. The bill must now go before the Senate, where it is expected to pass. It is unclear when that vote will take place. If the legislation is passed, Argentina would become the first Latin American country to legalize same-sex marriage.
India high court bans 'truth drugs' in criminal investigations
India's Supreme Court on Wednesday struck down the use of so-called "truth drugs" and lie detector tests in criminal investigations. The court held that the involuntary use of narcoanalysis and polygraph tests "amount[s] to an unwarranted intrusion into personal liberty," and that "no individual should be forcibly subjected to any of the techniques in question, whether in the context of investigation in criminal cases or otherwise." The court did leave room for the use of such techniques on a voluntary basis but maintained that certain safeguards should be in place and that "the test results by themselves cannot be admitted as evidence because the subject does not exercise conscious control over the responses during the administration of the test." The ruling is being hailed by civil rights activists, but there is concern about the impact on law enforcement. Narcoanalysis has recently been employed in several high-profile criminal cases including the 2006 murders of 21 people in a New Delhi suburb.
'No clear winner' in UK election
Al Jazeera, Doha, Qatar
Gulf Arabs say Iran Spy Cell Dismantled in Kuwait
Asharq Al-Awsat, Pan-Arab daily, London, England
RCA to step up aid efforts in Palestine
Gulf News, Independent daily, Dubai, United Arab Emirates
Foreign Ministry working with rightists against Palestinian incitement
Haaretz, Liberal daily, Tel Aviv, Israel
MIDEAST: West Bankers Made Refugees in Their Own Country
IPS Middle East, International cooperative of journalists, Rome, Italy
PA warns Palestinian shoppers
JPost, Conservative, Jerusalem, Israel
Municipality to offer services through external centres
Khaleej Times, English-language daily, Dubai, United Arab Emirates
Nine Jordanian firms to participate in Buildex Syria '10
Middle East North African Network, Online financial portal, Amman, Jordan
Iran Invites Security Council Members to Dinner, Including U.S.
Nahamet, Online news portal, Beirut, Lebanon
Panel formed on Lebanon poll law
Saudi Gazette, English-language daily, Riyadh, Saudi Arabia
Deadly Greek riots rattle world stock markets
The Daily Star, Independent daily, Beirut, Lebanon
Ahmadinejad says sanctions won t stop Iran
Times of Oman, English-language daily, Muscat, Oman
Training trainers' course aims to raise awareness on mines' risk
Yemen Observer, Sana'a, Republic of Yemen
Reading the body gestures of Yemenis
Yemen Times, (Independent weekly), Sana'a, Republic of Yemen
UK 'wakes up to hung Parliament'
BBC News, Centrist newscaster, London, England
RBS boosted as losses narrow
BreakingNews.ie, Online news portal, Cork, Ireland
Clegg: Don't rush into coalition
Daily Express, Conservative tabloid, London, England
General election 2010: Brown under pressure to go after exit poll heralds historic defeat
Daily Mail, Conservative daily, London, England
Nokia brings Ovi Life Tools to China
DMeurope, Online news portal, Amsterdam, Netherlands
UK ELECTIONS: Partial results put Conservatives in lead, hung parliament expected
France 24, Issy-les-Moulineaux, France
Train crash injures 32 people in northwest Turkey
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey
Miley Cyrus's Hot New Music Video
Look Magazine, London, England
Election 2010: In pictures
News & Star, Independent daily, Carlisle, England
The Rundown - May 7
Radio Free Europe, Prague, Czech Republic
Conservatives Hold Sway In Hung Parliament
Sky News, Independent newscaster, Middlesex, England
Election Uncertainty: Power Struggle Begins as Britain Heads for Hung Parliament
Spiegel International, Liberal newsmagazine, Hamburg, Germany
LIVE: Results point to hung parliament
The Guardian, Liberal daily, London, England
Cruise ship struck by vomiting bug
The Independent, London, England
Fans and familiar faces say goodbye
The Irish Times, Centrist daily, Dublin, Ireland
With Bishkek Calm, Kyrgyz Leaders Draft New Constitution
The Moscow Times, Independent daily, Moscow, Russia
Britain rejects Brown
The Sun, London, England
My perfect weekend: Nanette Newman
The Telegraph, London, England
General Election 2010: David Cameron on course for victory, says exit poll
The Telegraph, Conservative daily, London, England
Sailing regatta to be held in the Australian desert
Times Online, Conservative daily, London, England
Maritime minister planning Sail Lombok-Sumbawa 2012
Antara News, News agency, Jakarta, Indonesia
Asian stocks sink on Europe debt fears
China Post, English-language daily, Taipei, Taiwan
10th Seoul International Financial Forum Kicks Off
Chosun Ilbo, Conservative daily, Seoul, South Korea
Dawn correspondent Azaz Syed's residence attacked
Dawn, English-language daily, Karachi, Pakistan
Ex-Vice Emergency Minister sentenced to 10 years of strict regime
Gazeta.kz, Official online newspaper, Kazakhstan
Centre can't remove governors arbitrarily: SC
India Express, News portal, Mumbai, India
Bomb scare on Delhi-Amrtisar Shatabdi
India Times, Conservative daily, New Delhi, India
Tokyo has designs on congress
Japan Times, Independent centrist, Tokyo, Japan
Clerk files RM2mil suit against police, govt over shooting incident
Malaysian Star, Online news portal, Selangor Darul Ehsan, Malaysia
Bali Nine appeal delayed by clerical gaffe
New Zealand Herald, Conservative daily, Auckland, New Zealand
Commander surrenders
Pajhwok Afghan News, (Independent news agency), Kabul, Afghanistan
Britain's Labour unable to win clear majority in election
People's Daily Online, English-language, Beijing, China
Taliban, Pak Punjab terror groups' coalition fast turning into a 'witches' brew': Experts
Sify News, Chennai, India
Farewell to a Sydney 'angel'
Sydney Morning Herald, Centrist daily, Sydney, Australia
26 dead as tornado, storms hit Chinese mega-city
Taiwan News, English-language daily, Taipei, Taiwan
MOEA puts mainland knock-offs in its sights
Taiwan Today, Government Information Office, Taipei, Taiwan
Terrence Howard to play Nelson Mandela in ‘Winnie'
Thaindian News, Bangkok, Thailand
Kasab sentenced to death
The Hindu, Left-leaning daily, Chennai, India
U.K. wants new leadership: Cameron
Canadian Broadcasting Centre, Toronto, Ontario
Tourism earnings leaking from region
Caribbean360, Online news portal, St. Michael, Barbados
Florida man claims Seymour attacked him
Cayman Net News, Online news portal, George Town, Cayman Islands
Dominicans don't tackle major problems, Business Council warns
Dominican Today, Independent daily, Santo Domingo, Dominican Republic
LATIN AMERICA: Foreign Investment on the Rise, But Still Low-Quality
IPS Latin America, International cooperative of journalists, Rome, Italy
OCG to probe award of airport security contract
Jamaica Gleaner, Independent daily, Kingston, Jamaica
Peru: Alianza Lima loses to Universidad de Chile 3-2
Living in Peru, News portal, Lima, Peru
Garage name causes friction in world of auto lubrication
The Globe and Mail, Centrist daily, Toronto, Canada
Residents unaware of roof blaze
Toronto Star, Toronto, Ontario
Rowley rising...rising but on which side?
Trinidad Guardian, Independent daily, Port-of-Spain, Trinidad
Nigeria swears in new president
BBC News, Centrist newscaster, London, England
Leader of Enyele Rebels Arrested in Equateur
CongoPlanet.com, Independent online news aggregator
"Vandals" present petition to Government
GhanaWeb, Online news portal, Amsterdam, Netherlands
'Nightmare' for Britain
iafrica, Online news portal, Cape Town, South Africa
Police still mum about Lolly's murder
Independent Online, News portal, Cape Town, South Africa
Afan Oromo teacher hopes to win election for EDP
Jimma Times, Online news portal, Jimma, Ethiopia
Aids Law Project discovers the power of a name
Mail & Guardian Online, Liberal, Johannesburg, South Africa
Yar'Adua's death, huge loss to Nigeria
Vanguard, Independent daily, Lagos, Nigeria
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