July 31, 2015 nº 1,653 - Vol. 13
 

"The only relevant test of the validity of a hypothesis is comparison of prediction with experience."

 Milton Friedman

In today's Law Firm Marketing, This persuasion tool fixes buying resistance

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  • Top News

Elizabeth Warren's crusade to separate investment and commercial banks

For reasons that are mystifying, the idea of separating investment banks from commercial banks — once the law of the land for more than 60 years — is again the rage among certain politicians. The leading political proponent of this idea has been Senator Elizabeth Warren of Massachusetts, a former Harvard Law School professor who should know better. In 2013, she joined with a bipartisan group of her fellow senators, including John McCain, Maria Cantwell and Angus King, to introduce what she called the 21st Century Glass-Steagall Act – an homage to the original law passed 80 years earlier. It was created, she hoped, to make the financial system safer. The goal, she wrote in the bill, was "to reduce risks to the financial system by limiting banks' ability to engage in activities other than socially valuable core banking activities" and "to protect taxpayers and reduce moral hazard by removing explicit and implicit government guarantees for high-risk activities outside of the core business of banking." Senator Warren's bill went nowhere in the 113th Congress — because it was a bad idea. So she and Senator McCain reintroduced it last month. "Shattering the wall dividing commercial banks and investment banks, a culture of dangerous greed and excessive risk-taking has taken root in the banking world," Senator McCain said in a statement explaining why he thought the wall should be rebuilt. "Big Wall Street institutions should be free to engage in transactions with significant risk, but not with federally insured deposits." Senators Warren and McCain are not the only politicians on this particular bandwagon. Also along for the ride is Martin O'Malley, the former governor of Maryland and Democratic presidential aspirant, who has made reforming Wall Street a centerpiece of his long-shot campaign for his party's nomination. (Or is he really running for the vice presidential spot on the ticket?)

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  • Crumbs

1 - More than half of judges under 40 in England and Wales are women - click here.

2 - Toshiba's interim CEO to take 90% pay cut - click here.

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  • MiMIC Journal

India 'to overtake China's population by 2022'

A new UN study of global population trends predicts that India will overtake China to become the world's most populous nation by 2022. The report also says that Nigeria will replace the US as the world's third most populous country by around 2050. Africa is expected to account for more than half of the world's population growth over the next 35 years. The current world population of 7.3 billion will reach 9.7 billion in 2050 and 11.2 billion in 2100, it predicts. The new projection has India overtaking China's population six years earlier than previously predicted. "The concentration of population growth in the poorest countries presents its own set of challenges, making it more difficult to eradicate poverty and inequality, to combat hunger and malnutrition," said John Wilmoth, Director of the UN's Population Division.

China shares choppy amid crackdown

Chinese shares were higher on Friday in choppy trade as the government took further action to calm the market. The government restricted 24 trading accounts where it said it had detected abnormal bids or bid cancellations, moves described as malicious selling. The Shanghai Composite Index was up 0.2% at 3,713.54, while Hong Kong's Hang Seng rose 0.3% to 24,564.43. A private manufacturing report last week showed a surprise drop, prompting a plunge in mainland China's shares earlier this week.

  • Law Firm Marketing

This persuasion tool fixes buying resistance
By Tom Trush

Know the feeling you get when someone you just met is about to hit you with a sales pitch?

Maybe you noticed an awkward attempt to build rapport or thought the communication sounded too rehearsed to be believable -- and now you're certain the situation is about to get more uncomfortable.

This experience is common, isn't it?

Well, the reality is people interested in certain products or services avoid situations where salespeople are involved. That's why it's critical for you to elevate your status.

Here's one way to do it:

Mimic the behavior of influential leaders in your industry.

One fact you'll notice is industry thought leaders -- those people who have the most influence and success -- consistently publish content. This action isn't by accident. Written words hold incredible power.

Consistently published content creates authority status. It is also an effective persuasion tool that helps break your prospects' buying resistance.

Of course, content in a book format has the greatest impact, especially if you want to be seen as an industry expert. But these days you have many other options.

You can use e-mail, a blog or a newsletter. You can record a recurring podcast. You can pick up a camera and start shooting videos. You can even respond to industry-specific questions people post online.

In addition to consistency, the key is making your content valuable. After all, great content gets shared in today's socially connected world.

As I talk about in my book, The "You" Effect: How to Transform Ego-Based Marketing Into Captivating Messages That Create Customers, content is the currency that drives marketing. Instead of money, you exchange content for your prospects' attention.

When you don't have content (or content that's not consistently updated), your prospects direct attention elsewhere.

Also keep in mind, the more you create content that helps your prospects solve their problems, the more they'll reward you with engagement and sales.

Tom Trush is available at http://www.writewaysolutions.com.
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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 Trey@TreyRyder.com. 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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  • Historia Verdadera

Conflicto

Miembros de las fuerzas armadas de Venezuela ocuparon el jueves un complejo de depósitos usados por las compañías de alimentos Empresas Polar, Nestlé y Pepsi, en momentos en que el país sufre un desabastecimiento de bienes básicos. (Presione aquí)

Negocios

El Grupo Éxito, propiedad de los franceses de Casino, adquirió el 50% en el holding que controla el 99,9% de las acciones con derechos de voto del Grupo Pão de Açúcar, y una participación del 100% en Libertad en Argentina. El acuerdo alcanzó los US$1.826 mlls y el Grupo Éxito, al consolidar los ingresos de Brasil y Argentina. (Presione aquí)

Minería

Antofagasta plc llegó a un acuerdo con la empresa Barrick Gold Corporation para la adquisición del 50% de Compañía Minera Zaldívar Limitada, una minera de cobre ubicada en el norte de Chile. Adicionalmente, el Grupo Antofagasta será el operador de la mina Zaldívar. La adquisición considera un pago de US$ 1.005 mlls, de los cuales US$ 980 mlls se pagarán al cerrar la transacción y el resto a través de pagos anuales de US$ 5 mlls. cada uno, por cinco años, a partir del 2016.

  • Brief News

EU urged to ban windfalls for nations giving illegal tax aid

Governments that dole out tax subsidies to big companies shouldn't be allowed to reap multibillion-euro windfalls if the European Union orders them to claw back the aid, lawmakers probing tax loopholes said. Instead, the EU should consider changing the law so that money is shared among neighboring nations that played by the rules. "There is no doubt anymore in the report, that some member states acted in breach of the law in the past." While any change would come too late for current European Commission probes into possible illegal aid to Apple Inc. in Ireland, Starbucks Corp. in the Netherlands and Amazon.com Inc. and a Fiat SpA unit in Luxembourg, it may create a fairer situation in the future. "The current system incentivizes harmful competition by remunerating the member state that helped companies avoid taxes." Apple has signaled that an adverse ruling in its EU case could involve paying "material" financial amounts. The iPhone maker and the other companies involved all deny their fiscal arrangements broke any rules. Under current EU state aid law, it's the responsibility of countries to claw back any subsidies that are deemed to distort competition by giving specific companies an unfair advantage.

US calls insider-trading ruling 'harmful' in review bid

Just when Wall Street thought it was safer to trade on illicit tips, the US government is pushing to reverse what it calls a harmful and unprecedented court ruling on insider trading. US Solicitor General Donald Verrilli on Thursday asked the Supreme Court to review a federal appeals court decision from New York that he said will encourage corporate insiders to pass confidential information to friends, relatives and business acquaintances. Verrilli may be taking a chance in seeking the high court review as the justices have been skeptical of government arguments in some recent criminal appeals. The justices are likely to be "concerned about the rights of the accused to fair notice that their actions are insider trading," said Sam Lieberman, a lawyer who has represented individuals and investment advisers in civil and criminal investigations. "That is particularly so given the court having five conservative votes that favor limited government." Four of the nine Supreme Court justices must vote to hear the case before it can be considered. The court won't be in session until October.

IMF wary of third Greek bailout

The International Monetary Fund (IMF) is very wary of any financial contribution to a third Greek bailout. The implication of remarks by an IMF official is that it is very unlikely to provide funds at the first stage. The fund could however join in later, provided both the eurozone and Athens take steps to address IMF concerns. The problem for the IMF is that its staff believe the elements so far agreed are not enough to make the Greek government's debt sustainable. Negotiations are underway and the IMF is involved. But its staff think the eurozone governments need to give Greece debt relief. That does not have to be in the form of explicit reductions in the outstanding debt. It could mean longer repayment terms and delays before any payments are required - so called grace periods.

Russia vetoes UN plane attack tribunal

Russia on Wednesday vetoed a UN Security Council resolution that would have created a new tribunal to prosecute those involved in the downing of Malaysia Airlines flight MH17 in the Ukraine last July. The new tribunal was introduced to create a larger technical investigation into the crash. On the anniversary of the crash of MH17, UN Secretary-General Ban Ki-moon stated in regards to the tragedy, "while the pain caused by this tragedy cannot be erased, the victims must be honored by a collective effort to ascertain the truth about the incident and ensure that any persons determined responsible will be held to account." While the new tribunal initiative failed to pass, members of the UN Security Council said it will continue to work with fellow member states in the continued investigation to ensure justice to the families of the 298 passengers who were killed.

Facebook builds drone for internet access

Facebook has built its own drone that will bring internet connectivity to remote parts of the world, the social network has announced. The drone - which has a wingspan of a Boeing 737 - will operate as high as 90,000 feet in the air, and can stay airborne for 90 days at a time. Facebook said the drones would be able to offer internet speeds of 10 gigabits a second. They will be tested in the US later this year. "Our intention is not to build networks and then operate them ourselves, but rather to quickly advance the state of these technologies to the point that they become viable solutions for operators and other partners to deploy."

Google to defy French 'right to be forgotten' ruling

Google is to defy France's ruling that the "right to be forgotten" should be applied globally and not just in Europe. Last month, the French privacy watchdog, CNIL, ordered the firm to extend people's right to have posts removed from its websites worldwide, including Google.com. Google said it "respectfully" disagreed with CNIL's authority to make such an order. The firm now faces possible fines. A 2014 court ruling allows Europeans to submit applications to Google to remove data from search results that they thought were out of date, irrelevant or inflammatory. Google is believed to have processed more than one million requests to remove data since the ruling came into effect. It reviews all requests and refuses those it judges have no merit. However, those that are deleted are removed on its European websites such as Google.de or Google.fr. They are not removed from Google.com. The company points out that more than 95% of searches in Europe are made on the firm's local websites. "While the right to be forgotten may now be the law in Europe, it is not the law globally," Google said. (Click here)

Calais migrant crisis: Cameron warns UK is 'no safe haven'

The UK will not become a "safe haven" for migrants in Calais, David Cameron has warned, after hundreds continued their attempts to cross from France. The prime minister warned illegal immigrants would be removed. Over 3,500 attempts have been made this week to get into the tunnel.

Epidemic of US children sold for sex

In the US, poverty, deprivation and exploitation draw thousands of its own children down into a dark underworld that offers few ways out. It is a world few Americans are aware of. But tens of thousands of American children are thought to be sexually exploited every year. It's believed that every night hundreds are sold for sex. The FBI says child sex abuse is almost at an epidemic level, despite the agency rescuing 600 children last year. "Trafficking" often conjures images of people from other countries being smuggled over land and across the sea and then forced to work against their will in foreign lands. People are trafficked into America from Mexico, Central and South America. But the vast majority of children bought and sold for sex every night in the United States are American kids.

Uber wants to invest $1bn to boost business in India

The taxi booking service Uber has said it will invest $1bn to expand its business in India. The US company wants to use the money to expand to more cities and invest in new products and payment solutions. Earlier in the year, Uber was banned in India after rape accusations against one of its drivers. Uber applied for new licenses in New Delhi and other cities but continued its operations while approvals were pending. Uber hopes that the investment would enable the company to reach 1 million daily journeys in India over the next nine months.

EU extends farm aid amid Russian food import ban

The EU says it will continue aid for exporters of dairy produce, fruit and vegetables into next year to ease the impact of a Russian ban on those goods. The EU Commission says the "safety net" for Europe's dairy sector will remain in place until March 2016 and for fruit and vegetable growers until July 2016. Russia has extended a year-old ban on most imports of EU food and drink until August 2016. Many European farmers are in financial difficulties because the Russian market is blocked and Chinese imports of European dairy produce have slackened.

Six-month-old baby gets lifetime hunting license in US

Daylen Brickley, a six-months-old baby from the US state of New Hampshire, is the proud owner of a lifetime permit to hunt and fish - the first license holder under a new program. His fishing license is valid, but he will need to complete a hunter safety course before receiving that permit. The only negative feedback the department has received so far is from parents of toddlers who are slightly too old to apply for the less expensive lifetime permit. The program was created to reduce obstacles to young hunters as they are introduced to the activity.

Why do offshore tax havens still exist?

Described by the former British cabinet minister Vince Cable as "sunny places for shady people", tax havens are much maligned. It's thought the total sum hidden away in low-tax, low-regulation jurisdictions around the world could be $21tn - as much as the total annual economic output of the United States and Japan combined. Obama and other world leaders have vowed to crack down on tax havens. The Organization for Economic Cooperation and Development (OECD) has pressed for greater transparency about how they operate. The European Commission has called for greater information-sharing about tax deals by EU national governments.

Texting while walking: are you cautious or clueless?

People who text while walking change their pace and seem to walk more cautiously, a study says. But that doesn't mean you're not a menace to yourself and others.

Windows 10 rolls out, along with concern over sharing Wi-Fi passwords

The new operating system includes user-friendly features, such as a personal assistant named Cortana. But its Wi-Fi Sense feature has sparked security concerns.

Appeals court rules letter to abortion clinic not necessarily protected speech

The US Court of Appeals for the Tenth Circuit on Tuesday overturned a summary decision that an anti-abortion activist's letter was protected speech under the First Amendment. Angel Dillard had written a letter to a doctor, who had publicly announced plans to open an abortion clinic, claiming that someone may place a bomb under the doctor's car. The original complaint asserted that the letter violated the Freedom of Access to Clinic Entrances Act (FACE). The US District Court for the District of Kansas held that "the government...failed to demonstrate the existence of a true threat" and the letter was therefor protected speech as a matter of law. The Court of Appeals, however, held that the question of whether Dillard's letter constituted a "true threat or mere political speech" is not clear and must be put to a jury on remand.

Malaysia prime minister fires attorney general investigating him for corruption

Malaysian Prime Minister Najib Razak fired Attorney General Abdul Gani Patail on Tuesday on news that Patail was investigating him on corruption charges. The charges include documents that allegedly money from the state investment fund went into Razak's personal accounts. Razak also announced that Deputy Attorney General Muhyiddin Yassin will also be removed and replaced by Ahmad Zahid Hamidi, a cabinet member. The documents related to Razak's corruption also allegedly show that $700 million was wired from entities linked to state investment fund 1MDB. Razak admitted that these accounts do exist, as do the receipts of the funds. But he has disputed the fact that government funds were used for political gain. Officials from 1MDB have also denied any criminal activity on Razak's part. Had they been filed, these would have been the first criminal charges against a Malaysian prime minister.

Law librarians may have killed world's biggest copyright troll

To set the scene, back in 2013, documentary filmmaker Jennifer Nelson filed a putative class action against Warner/Chappell Music, a subsidiary of Warner Music Group, and the killjoy trolls who claim to own the rights to "Happy Birthday to You." For years, Warner/Chappell has zealously pursued every public performance of the song — up to and including stoking fears of taking down children's party clips posted on YouTube — and demanded onerous licensing fees ranging from $500 to six-figure sums for the right to sing the song. It's forced the entertainment industry to try desperately to make "For He's A Jolly Good Fellow" happen just to avoid tangling with Warner's lawyers, and even led Professor Larry Lessig to promote the world's most depressing substitute tune. Warner Music Group manages to rack up around $2 million every year enforcing their copyright on "Happy Birthday to You," the most recognized English language song in the world, except experts don't think the company actually holds a valid copyright! But in a move that underscores the American legal system's bias toward privileging theoretical justice over practical justice, Warner Music Group continues to collect royalties because no one has the time, money, or inclination to actually fight them in court. However, Warner Music may be singing a different tune after Nelson's class action got a shot in the arm this week: “The fourth edition of The Everyday Song Book was published in 1922 and contains lyrics for "Happy Birthday To You" without any copyright notice, which predates Warner/Chappell's 1935 copyright registration. According to The Hollywood Reporter, the plaintiffs discovered evidence of the book, a blurry photo in Warner/Chappell's own files, which they were given access to only three weeks ago. Nelson's attorneys immediately filed an ex parte motion to supplement the record in the pending summary judgment motions with the previously unknown evidence. As the motion explains, Warner Music Group claims that the blurry picture that led to the discovery of this song book had been "mistakenly" withheld during discovery.

Chimps aren’t people, New York State Supreme Court judge rules

Two research chimpanzees at a state university on Long Island shouldn't be considered legal persons and given the rights bestowed by so-called personhood, a New York State Supreme Court judge ruled Wednesday. The case, brought by the animal-advocacy group the Nonhuman Rights Project, involved two chimps—Hercules and Leo—who have been at Stony Brook University and are used for research by an anatomical-sciences professor, according to court filings. Judge Barbara Jaffe said in her decision that "similarities between chimpanzees and humans inspire the empathy felt for a beloved pet," and that efforts to extend legal rights to chimps might succeed one day. However, courts "are slow to embrace change," and she was bound by precedent, she wrote.

  • Daily Press Review

Life inside Gaza's only women's prison
Al Jazeera, Doha, Qatar

Netanyahu condemns fatal West Bank arson attack, calling it 'terrorism'
Haaretz, Liberal daily, Tel Aviv, Israel

MoD land could help Calais delays
BBC News, Centrist newscaster, London, England

Wing part found on island most likely from Boeing 777
CNN International, London, England

Rita Ora lingerie shots for sexy photoshoot as she defends X Factor role
Daily Mail, Conservative daily, London, England

Guy Ritchie and Jacqui Ainsley's tie the knot at their Wiltshire estate
Daily Mail, Conservative daily, London, England

At least 20 pilgrims dead after truck crashes into crowd in Mexico
EuroNews, International news, Ecully Cedex, France

Palestinian baby killed in suspected Jewish extremist attack
France 24, Issy-les-Moulineaux, France

Birds in ?zmir cooling off thanks to irrigation efforts
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

Palestinian toddler killed in 'arson attack' by suspected Jewish extremists in Israel's West Bank
Independent The, London, England

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

Courtney Love, daughter, 'urge judge not to release Kurt Cobain death-scene photos'
Telegraph The, Conservative daily, London, England

Glorious Goodwood 2015, Ladies' Day in pictures
Telegraph The, Celebrity news, London, England

Student activist commits suicide
China Post, English-language daily, Taipei, Taiwan

Jecheon Hosts Int'l Music Film Fest in August
Chosun Ilbo, Conservative daily, Seoul, South Korea

Wing part on Reunion island may help solve MH370 mystery
Hindustan Times, New Delhi, India

IIST, NASSCOM ink pact for global biz foundation skills
India Times, Conservative daily, New Delhi, India

Shell to sell Japan refiner stake for ¥169 billion to Idemitsu
Japan Times, Independent centrist, Tokyo, Japan

Turkey: 2 policemen, 2 PKK militants killed in clash
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

PLO holds Israel government 'fully responsible' for toddler's death
The Economic Times, Business, Mumbai, India

Walter Palmer, dentist and lion slayer, now on the internet hunt list
Canadian Broadcasting Centre, Toronto, Ontario

Canadian dairy stalling Trans-Pacific Partnership deal: sources
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

Exclusive: China securities regulator seeks stock trading records from Chinese, foreign brokerages
Reuters, Business News, New York, U.S

Plane debris on remote island points to breakthrough in MH370 mystery
Reuters, World News, New York, U.S

Most Ontarians don't like Hydro sell-off plan, Liberals' internal poll shows
Toronto Star, Toronto, Ontario

Indian teachers 'kidnapped in Libya'
BBC News, Centrist newscaster, London, England

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