April 24, 2015 nº 1,619 - Vol. 11
 

"You may have to fight a battle more than once to win it."

Margaret Thatcher

In today’s Law Firm Marketing: The Questionable Value Of "Getting The Word Out"

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  • Top News

Market manipulation complaints are common but prosecutions rare

CME Group Inc., the operator of the biggest US futures market, has a spoofing problem. Complaints about the practice -- using fake orders to manipulate prices, then withdrawing them -- are widespread. Enforcement is lax, and prosecutions are rare. The arrest this week in London of trader Navinder Singh Sarao for allegedly spoofing the CME's stock futures market was only the second time such charges have been brought since 2010, when the Dodd-Frank act made such abuses illegal. "We get multiple complaints about spoofing every week," said Aitan Goelman, director of enforcement for the US Commodity Futures Trading Commission, CME's main regulator. "It's not a vanishingly small or infrequent practice."

US ups fight against agricultural espionage

The criminal trial of a Chinese executive accused of stealing high-tech US corn seeds is turning into a battle over the federal government's use of an anti-spying law to fight industrial espionage. US prosecutors say Mo Hailong, an official with a Chinese agriculture company, participated in a multiyear scheme to pilfer seeds from test fields of US agribusiness giants Monsanto Co. and DuPont Co. The prosecutors claim that Mr. Mo, who was arrested in December 2013 at his home in Boca Raton, Fla., and several alleged accomplices transported seeds back to China, sometimes secreted in boxes of Orville Redenbacher microwave popcorn. Prosecutors have charged Mo, now under house arrest in Des Moines, Iowa, and six alleged co-conspirators—five of whom remain at large—with stealing trade secrets. Mo, 45, has pleaded not guilty. The prosecutors say they plan to partly rely on evidence collected through surveillance authorized under the Foreign Intelligence Surveillance Act of 1978 in the trial, which is scheduled for September in Des Moines. The law was designed to catch foreign government spies and terrorists. Mr. Mo's case is the first time the US government has said it would use evidence gathered from surveillance authorized under the law to prosecute trade-secret theft charges, legal experts say—although it is possible such evidence has been used in other cases without the government acknowledging it.

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  • MiMIC Journal

China fines Mercedes-Benz for price-fixing

China has fined Daimler's Mercedes-Benz 350m yuan ($56.5m) for price-fixing as part of a broader clampdown on anti-monopolistic practices. A pricing regulator in Jiangsu said the luxury German carmaker pressured local dealers into setting a minimum sales price on some of its car models. Some of its local dealers were also fined 7.7m yuan. A Mercedes-Benz said it "accepts the decision and takes its responsibilities under competition law very seriously".

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  • Historia Verdadeira

Gas

El consorcio francés Technip será el encargado del desarrollo del Gasoducto Sur Peruano (GSP) a través de su subsidiaria colombiana Tipiel. (Presione aquí)

Inversiones

El fabricante de llantas Goodyear Tire & Rubber Co. planea invertir US$550 mlls. en una nueva planta en México. La planta de Goodyear, que comenzaría a operar en el 2017, produciría llantas principalmente para el mercado local, dijo la fuente, que pidió no ser identificada debido a que la inversión no ha sido divulgada todavía.

Shell optimista

La multinacional anglo-holandesa Royal Dutch Shell Plc apuesta a sus operaciones en Brasil junto a Petrobras, pese a los riesgos que representa el escándalo que involucra a la estatal brasileña. El CEO de la empresa, Ben van Beurden , dijo que confía en que la petrolera saldrá fortalecida de la complicada situación por la que atraviesa. (Presione aquí)

Sin causa

El pleno de la Sala de lo Penal del Tribunal Supremo de España enterró definitivamente y por unanimidad las investigaciones judiciales abiertas en la Audiencia Nacional sobre el genocidio del Tíbet y la persecución al grupo religioso Falun Gong por parte de las autoridades chinas. (Presione aquí)

  • Law Firm Marketing

Is "getting the word out" really worth your effort?
By Tom Trush

Business development experts often encourage "getting the word out" about your company as a way to drive sales.

The theory is, as the number of people who know about your business grows, so will your profits.

But is this marketing-to-the-masses approach really worth the effort?

I'm not so certain.

You see, simply making people aware of your company's products or services does not trigger action (or a buying response), especially when marketing.

Think about it ...

Are you interested in every sight or sound that attracts your attention?

Of course not.

Here in Phoenix, city council elections are in a few weeks. So candidates' signs litter just about every street corner. You can't help but see them each time you stop at an intersection.

As a result, I can tell you every person running for the seat in my district. The signs tell me the names, but do nothing to spark further interest.

Keep in mind, awareness also does not generate desire, which (again) is critical to marketing that leads to sales.

How often have you met someone and, within seconds, had a business card forced in your face and a request to "do business"?

You see this tactic all the time at networking events. But hey, aren't these people "getting the word out"?

In these instances, awareness can actually diminish desire.

The reality is, reaching people with your message is not hard. What's difficult is getting prospects to pay attention to your marketing, find value in your message and then take an action that eventually leads to sales.

Traditional branding or image marketing relies on consistently reminding people what you offer. In effect, this is marketing to the masses -- and most marketing and advertising falls into this category. (Think big brands such as Nike, Pepsi, Microsoft, Apple, etc.) The process is time-consuming and extremely expensive.

The smarter approach, especially for smaller businesses, is using your marketing to target specific prospects -- and then persuading them to take a measurable action (e.g., request information, visit a web page, download a report, send an email, etc.). The people who respond then become leads worthy of greater marketing attention and effort.

So which would you rather have: -- name awareness or leads?

  • Brief News

Spain's ominous gag law

On April 10, a group called No Somos Delito or We Are Not a Crime, projected a hologram of protesting marchers filing in front of the Parliament building in Madrid. For the time being, virtual protests in the form of holograms are not illegal in Spain. Incredibly, however, almost every other kind of peaceful protest soon will be if a new law goes into effect as scheduled on July 1. The law on public security — dubbed the "ley mordaza" or "gag law" — would define public protest by actual persons in front of Parliament and other government buildings as a "disturbance of public safety" punishable by a fine of 30,000 euros. People who join in spontaneous protests near utilities, transportation hubs, nuclear power plants or similar facilities would risk a jaw-dropping fine of €600,000. The "unauthorized use" of images of law enforcement authorities or police — presumably aimed at photojournalists or ordinary citizens with cameras taking pictures of cops or soldiers — would also draw a €30,000 fine, making it hard to document abuses.

EU triples migrants funding

European leaders are to triple funding for search-and-rescue operations aimed at migrant boats in the Mediterranean following crisis talks in Brussels. The EU will also look at ways to capture and destroy smugglers' boats and deploy immigration officers to non-EU countries.

Indonesia signals over executions

Indonesia has summoned foreign embassy officials to the prison where 10 convicted drug smugglers, including the Bali Nine pair, will be executed. Diplomats confirmed that they had been told to go to the island prison of Nusakambangan on Saturday. The request could suggest that the executions of the mainly foreign prisoners are imminent, but no official execution date has yet been set. The prisoners must be given a final notice 72 hours before their execution.

Deutsche Bank in record fine over interest rate manipulation

Deutsche Bank has been fined $2.5bn by US and UK regulators for trying to manipulate interest rates. The German bank has been fined $2.1bn by US regulators, and £227m by the UK's Financial Conduct Authority. The fine relates to manipulation of the Libor and Euribor inter-bank rates. It is a record penalty for such misconduct because Deutsche tried to mislead regulators and could have hampered investigators. The bank said it "deeply regrets" the matter. Deutsche said that it had "disciplined or dismissed individuals" involved and tightened governance controls. However, US regulators have demanded the dismissal of a further seven senior individuals still employed.

Loretta Lynch confirmed as new US attorney general

The US Senate has confirmed the nomination of Loretta Lynch as the next attorney general. Her confirmation means she will be the first black woman to take up the post. The 56-43 vote comes after a five-month delay during which the confirmation became entangled in a dispute over Obama's recent immigration reforms and other issues. Lynch replaces Eric Holder, who has served since the beginning of Obama's presidency. Welcoming the news of the confirmation, Obama said "America will be better off for it". (Click here)

Petrobras corruption costs hit $2bn

Brazil's state-run oil company, Petrobras has taken a $2bn charge for costs related to corruption. The company has published accounts for last year showing an overall loss of $7.2bn. The company's results also included an impairment charge of $14.8bn reflecting the decreased value of its assets. Petrobras has been embroiled in a massive corruption scandal in which it is alleged that bribes were paid for lucrative contracts with the firm. More than 40 top politicians - including the presidents of both houses of Congress - are still under investigation, and the treasurer of the country's ruling party has been arrested.

Ex-CIA head David Petraeus sentenced over military leak

David Petraeus, a retired US four-star general and former CIA director, has been put on probation and fined for leaking material to his mistress. He resigned from his post at the CIA in 2012, after it emerged he was having an affair with his biographer, Paula Broadwell. Petraeus reached a plea bargain with prosecutors after admitting to leaking sensitive material to Broadwell while she was working on a book about him.

Russia and Argentina agree framework energy deals

Russia and Argentina have signed a series of framework agreements on economic and energy co-operation following talks in Moscow. Fernandez de Kirchner and Putin hailed their co-operation as a "comprehensive strategic partnership". The agreements include Russian investment in a hydroelectric plant and a nuclear power plant in Argentina. There was also a memorandum of co-operation on defense.

Central African Republic government establishes special criminal court

The current government of the Central African Republic, the National Transition Council, voted Wednesday to create a Special Criminal Court. The new judicial entity is to be made up of 27 judges, including 14 from CAR and 13 from other countries. The creation of the special criminal tribunal has garnered strong support from international and African human rights groups, including Human Rights Watch (HRW), which have viewed the body as the best method of combating the atrocities committed during recent unrest in the country which has left thousands dead and many more displaced.

Human trafficking ‘endemic’ in EU

The European Union's (EU) open borders policy has facilitated many opportunities for trafficking people. Organized crime groups find the trafficking of victims to be a highly lucrative and accessible crime to pursue and as such have become highly sophisticated in developing illegal business models. (Click here)

Can a person with dementia consent to sex?

A jury in Iowa acquitted a man who had been criminally charged for having sex with his wife, who had Alzheimer's. Very few care facilities have policies on dementia, sex and consent.

EU charges Gazprom with abusing gas markets

The European Commission on Wednesday issued a Statement of Objection to Gazprom accusing the Russian gas giant of abusing its position as the dominant source of gas in Central and Eastern European in breach of EU anti-trust rules. According to the Commission, "Gazprom is the dominant gas supplier in a number of Central and Eastern European countries. It has a market share well above 50% and in some cases up to 100% in these markets." (Click here)

Madoff investor suit against Citigroup Unit, PwC resurrected

A Citigroup Inc. unit and PricewaterhouseCoopers LLP must face claims they played a part in costing investors more than $1 billion in Bernard Madoff's massive Ponzi scheme, an appeals court ruled. Investors in the Kingate Global and Euro funds, which fed money into Madoff's firm, sued an offshore subsidiary of the New York-based bank and the accounting company for their roles in administering and auditing the funds. Several other entities must also face claims in the suit revived Thursday by a federal appeals court in Manhattan.

Comcast is said to end $45 billion bid for Time Warner Cable

The merger would have united the country's two largest cable operators and reshaped the country's video and broadband markets.

Advice and sympathy for trader charged in 'flash crash' case

Some of Britain's most famous white-collar criminals offered support to Navinder Singh Sarao, the trader charged with helping cause the 2010 flash crash.

Automakers push for law making do-it-yourself car repairs illegal

Legislation in the works could make it illegal for you to work on our own car. Those pushing lawmakers for the restrictions are specifically trying to prohibit car owners from making repairs to the electrical and computer components of their cars. Automakers say altering your car's electronic control units could possibly cause equipment failure and security issues.

  • Daily Press Review

Chile braces for potential third volcano eruption
Al Jazeera, Doha, Qatar

Acre fires councilwoman after hiring private eye to prove nonresidency
Haaretz, Liberal daily, Tel Aviv, Israel

PM sets out 'English votes' timetable
BBC News, Centrist newscaster, London, England

Obama: 'Deadly mistakes can occur'
CNN International, London, England

Enfield Poltergeist made MICHAEL HELLICAR believe in the supernatural
Daily Mail, Conservative daily, London, England

'ISIS militant' from San Diego who was caught out by his AK-47 Facebook photos is charged with lying to the FBI
Daily Mail, Conservative daily, London, England

Chile: Experts warn volcano Cabulco could erupt again
EuroNews, International news, Ecully Cedex, France

EU to triple rescue funding for Mediterranean migrants
France 24, Issy-les-Moulineaux, France

Vatican to be absent from Gallipoli events
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

Postcard from... Beirut
Independent The, London, England

Major Ukrainian TV provider drops Russian channels
Moscow News The, Independent, Moscow, Russia

Shakespeare not required reading for most literature grads in US
Telegraph The, Conservative daily, London, England

Native American actors walk off Adam Sandler film set over 'insults'
Telegraph The, Celebrity news, London, England

More tea chains found using tainted leaves
China Post, English-language daily, Taipei, Taiwan

N.Korea Has 20 Nuclear Warheads, Say Chinese Experts
Chosun Ilbo, Conservative daily, Seoul, South Korea

25 incredible images on Hubble telescopes silver jubilee
Hindustan Times, New Delhi, India

Skewed sex ratio plagues Visakhapatnam zoo
India Times, Conservative daily, New Delhi, India

Drone likely landed on prime minister's office this week; cesium may be from Fukushima No. 1
Japan Times, Independent centrist, Tokyo, Japan

Woman who murdered abusive husband gets reprieve in China
New Zealand Herald, Conservative daily, Auckland, New Zealand

Ukraine President cancels trip over protests in eastern Ukraine
Straits Times, Pro-government, Singapore

Beat the post holiday blues
Sydney Morning Herald, Centrist daily, Sydney, Australia

Google lavishes chairman with $109 million pay package
Taiwan News, English-language daily, Taipei, Taiwan

After Iran deal, world looks to jump-start nuclear disarmament
The Economic Times, Business, Mumbai, India

Ash continues to blanket towns near Calbuco volcano in Chile
Canadian Broadcasting Centre, Toronto, Ontario

Minnesota declares state of emergency over bird flu in poultry
Globe and Mail The, Centrist daily, Toronto, Canada

Liberty Reserve Brought Down By 'Joe Bogus': How The Feds Arrested Arthur Budovsky
International Business Times, Business news organization, New York, U.S

Tailings Ponds Pose a Threat to Chilean Communities
IPS Latin America, International cooperative of journalists, Rome, Italy

Low-key launch as Apple Watch finally goes on sale
Reuters, Business News, New York, U.S

Taiwan ruling party says chief to meet China's Xi Jinping
Reuters, World News, New York, U.S

Pomp and laughter highlight Bill Blair's farewell fete
Toronto Star, Toronto, Ontario

Hope over child malaria vaccine tests
BBC News, Centrist newscaster, London, England

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