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• MiMIC Journal

China tech stocks dive on threat of US fraud probe

Chinese internet stocks have dived in New York trading after the US Justice Department said it was considering launching a fraud investigation. The fraud concerns have arisen after accounting irregularities emerged at a number of Chinese firms whose shares are traded in the US.

Burma U-turn on controversial dam

Burma's president halts work on a controversial, Chinese-backed hydroelectric dam which had threatened to displace thousands of villagers along the Irrawaddy River.

• Law Firm Marketing

6 characteristics shared by prospects in all industries

by Tom Trush

"My prospects are different."

Every time I hear this claim my ear drums rattle.

These words were recently uttered to me again by a business owner who asked for help rescuing a direct-mail campaign that initially generated zero responses from his prospects.

After one look at his marketing piece, it was clear he did little to address his prospects' problems. Instead, he focused on a traditional pitch for his services.

The truth is your prospects may have different desires related to your legal services, but the characteristics that lead to a sale are the same regardless of your target audience.

1. Your prospects are skeptical. Just like you, they've thrown away money on promises that never panned out. You gain an instant advantage when you establish yourself as a credible source who understands what it's like to walk in your prospects' shoes.

2. Your prospects want direction. If they understood how to eliminate their problems, they would have never started searching for solutions. So don't hesitate to share a little knowledge and give detailed instructions about what steps to take next.

3. Your prospects don't like sales pitches. Unnecessary pressure makes sales pitches repulsive. But you make your message welcome when you focus on educating, establishing trust and involving your prospects in your marketing efforts.

4. Your prospects are already inundated with messages. Your copy is just another collection of claims unless you do something to prove your promise -- and make your marketing message memorable. Don't hesitate to try an approach that's different from your competition.

5. Your prospects are afraid of the unknown. If you don't clearly communicate what happens after moving forward with your offer, then your prospects are less likely to respond. So use your writing to help them visualize what it's like to work with you or use your use your legal services.

6. Your prospects have an internal timeframe for coming to a buying decision. You can't determine how long it takes your prospects to gather information, analyze the data and pull out their wallets -- that decision is based on personal comfort. However, deadlines will often speed up the process.

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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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A bailout that's way too small to solve Europe's problems

A rejection from Germany would have meant immediate economic chaos in Europe and beyond. German approval only means that Europe can continue to muddle through for a few more weeks or months, until the next phase of the crisis. Specifically, there are three huge problems that the current bailout plan doesn't solve. 1. Even after the bailout, Greece still won't be able to pay its debts. 2. No one trusts Europe's big banks. 3. Italy is way too big to be saved by the expanded bailout fund. The details are muddy. There's debate over who is going to be on the hook for losses. There are lots of proposals for all kinds of crazy financial engineering to make this stuff happen. The politics are even muddier. When European leaders agree to a plan, every country in Europe has to sign off on it. The vote in Germany's parliament today was to approve a plan that European leaders agreed to months ago. The European Union wasn't designed to handle this kind of massive, fast-moving crisis. There's not enough centralized authority to make big, quick decisions. This is a fundamental, structural problem. And until it's solved — until Europe becomes more integrated, or the euro falls apart — leaders will struggle to make the kind of decisive moves necessary to end the crisis in Europe.

Healthcare heads to Supreme Court

The White House asks the Supreme Court to uphold its healthcare law. The administration's move came after a challenge to the reform from 26 states and small businesses. The justice department asked the Supreme Court to declare the law's key provision, requiring everyone to buy health insurance, constitutional. The legislation extended health coverage to an extra 32 million people. If the Supreme Court takes the case, as seems inevitable, a ruling would be expected next June, weeks before the nominating conventions in the run-up to November 2012's presidential elections.

Brazil's $12bn iPad deal is in trouble: sources

A much-hyped $12bn plan for Taiwanese manufacturer Foxconn to produce iPads in Brazil is "in doubt" due to stagnant negotiations over tax breaks and Brazil's own deep structural problems such as a lack of skilled labor.

Outsize severance continues for executives, even after failed tenures

A hallmark of the gilded era of just a few short years ago, the eye-popping severance package continues to thrive in spite of the measures put in place in the wake of the financial crisis to crack down on excessive pay. Critics have long complained about outsize compensation packages that dwarf ordinary workers' paychecks, but they voice particular ire over pay-for-failure. Much of Wall Street and corporate America has shifted a bigger portion of pay into longer-term stock awards and established policies to claw back bonuses. And while fuller disclosure of exit packages several years ago has helped ratchet down the size of the biggest severance deals, efforts by shareholders and regulators to further restrict payouts have had less success. Severance policies typically call for a lump-sum cash payment, the ability to cash out stock awards and options immediately instead of having to potentially wait for years. And that's not counting the retirement benefits and additional company stock that executives accumulate, which can increase the total value of their exit package by millions of dollars. Some critics believe investors have become inured to the hefty payouts. In addition, the continuing financial crises in Europe and the United States have pushed compensation into the backseat on the shareholder agenda.

New York unions vow to support Wall Street protesters

The group of young people who have set up camp in lower Manhattan in order to protest what they say is the corruption of Wall Street have been dismissed by some as being a disorganized movement with no real focus. But as the action nears the start of its third week, unions and community groups are eager to jump on board. They are motivated perhaps by a sense of solidarity and a desire to tap into its growing success, but undoubtedly by something else too—embarrassment that a group of young people using Twitter and Facebook have been able to draw attention to progressive causes in a way they haven't been able to in years.

Philippine immigrant maid wins landmark Hong Kong case

Hong Kong's High Court has ruled that a domestic helper from the Philippines should be allowed to apply for permanent residency in the city. The ruling follows a landmark judicial review and could lead to more than 100,000 other foreign maids winning rights to residency. The case has sparked widespread debate on equal treatment for foreign maids. Some critics have said granting residency to domestic helpers would strain the provision of health care, education and public housing.

Yemen's Ali Abdullah refuses to step down

Yemeni President Ali Abdullah Saleh has said he will not stand down as promised if his opponents are allowed to stand in elections to succeed him. Saleh, who returned to Yemen last week after a three-month absence, warned of civil war. He faces a widespread protest movement as well as an insurrection by renegade army units and tribal fighters.

Brazil judge halts work on Belo Monte Amazon dam

A judge in Brazil has ordered a halt to construction of a multi-billion-dollar dam project in the Amazon region. Judge Carlos Castro Martins barred any work that would interfere with the natural flow of the Xingu river. He ruled in favor of a fisheries group which argued that the Belo Monte dam would affect local fish stocks and could harm indigenous families who make a living from fishing. The government says the dam is crucial to meeting growing energy needs.

Brazil growth 'to slow sharply'

Brazil's central bank lowers its forecast for economic growth to less than half of last year's, partly blaming the slowing global economy.

EU legal threat over UK benefits

The European Commission threatens legal action against the UK over a test of eligibility for benefits which it says discriminates against foreigners.

Libya issues arrest warrant for ex-PM

The Libyan NTC - National Transitional Council issued an arrest warrant for former prime minister Al Baghdad Ali Al-Mahmoudi on Wednesday. Al-Mahmoudi was arrested in Tunisia last week and sentenced to six months in prison for illegally entering the country. The conviction was overturned by a Tunisian appeals court, however. Al-Mahmoudi has since gone on hunger strike in response to his detention by Tunisian authorities who are holding him based on a request from INTERPOL.

California's new prison policy has some skeptics

Starting in October, nonviolent offenders will go to county facilities instead of state prisons, partly in response to a court order to reduce the state's prison population. The program is currently funded for nine months; despite the governor's assurances, some local public safety officials worry about what will happen after that.

France appeals court rejects extradition of Rwanda ex-president's widow

The Court of Appeal of Paris on Wednesday rejected a request from Rwandan officials to extradite Agathe Habyarimana, widow of assassinated Rwandan president Juvenal Habyarimana, to Rwanda to face trial on genocide charges. Habyarimana has been accused of helping to plan the 1994 Rwandan genocide between Hutus and Tutsis in which more than 800,000 people, primarily Tutsis, were killed in the span of 100 days. After her husband's assassination, which led to an escalation of violence that sparked the genocide, Habyarimana was transported from Rwanda by the French military and has since been living outside Paris, although she was arrested briefly in March 2010 by French police complying with an international arrest warrant issued by the Rwandan government.

Federal judge refuses to enjoin most of Alabama immigration law

A judge for the US District Court for the Northern District of Alabama on Wednesday refused to block key parts of Alabama's recently passed immigration law. Chief Judge Sharon Lovelace Blackburn, in a 115-page memorandum opinion, ruled that the federal government's challenge to the Beason-Hammon Alabama Taxpayer and Citizen Protection Act had not met the requirements for a preliminary injunction on a majority of the act's provisions. Blackburn did enjoin enactment of certain specifications, but included only the four sections that would 1) make it a crime for an illegal immigrant to solicit work, 2) make it a crime to transport or harbor an illegal immigrant, 3) allow discrimination lawsuits against companies that dismiss legal workers while hiring illegal immigrants and 4) forbid businesses from taking tax deductions for wages paid to workers who are in the country illegally. In her evaluation of the requirements for judicial injunction of a legislative act, the judge the concluded that there is a substantial likelihood that the United States will succeed on the merits of its claim that Sections 11(a), 13, 16, and 17 of H.B. 56 are preempted by federal law. The court further finds that the United States will suffer irreparable harm if these sections of H.B. 56 are not enjoined, the balance of equities favors the entry of an injunction, and its entry would not be adverse to the public interest. Therefore, the Motion for Preliminary Injunction will be granted as to these sections.

On broken hearts, pricey jewelry, and contract law

What, in legal terms, is an engagement ring? Is it an outright gift from one person to another? Or is it a contract? That is, is its giving unconditional or can it be kept only if the recipient doing something in exchange? In some states, an engagement ring is a gift, and once given, it can't be taken back. Some courts treat all engagement rings as gifts – no matter when, where or how it was given. Other courts look at the circumstances of when a ring is given. For instance, if you gave your fiancee the ring as a Christmas, Valentine's Day or birthday present, a court may call it a gift and let your fiancee keep it. However, other states treat the situation differently. In the vast majority of states, an engagement ring is a conditional gift. This is gift given with the expectation that a certain event will happen in the future. Both giver and receiver agree on what that event actually is. If the event doesn't happen, the gift "fails" and the receiver has the right to take back the gift. If you live in a state that follows this rule, such as New York, your fiancee has to return the ring to you when the enjoyment is broken off. But does it matter who's responsible for the breakup? Not everywhere, but in some states, including California, it does. If a groom cancels the wedding and the bride wants to keep the ring . . . she could say that in exchange for the ring, she gave her fiancee an exclusive option to marry her. She took herself off the dating market, granting him the security of knowing she's his to marry if he so chooses. It's like an option to an agent on making a movie out of a book. The author gets to keep the option money when the film goes nowhere.

McGraw-Hill in talks to lead stock indexes joint venture

If consummated, the new joint venture would operate both McGraw-Hill's venerable Standard & Poor's 500-stock index and the Dow Jones industrial average.

Prosecutors seek to unseal Rajaratnam's medical history

Prosecutors have asked a federal judge to unseal court filings that specify some of Raj Rajaratnam's ailments, hoping to prove that the hedge fund executive should not receive extra leniency.

United-Continental can merge flights

Pilots at United Airlines lost on Thursday in their bid to postpone the integration of flight operations with Continental Airlines, an essential step to completing the 2010 merger of the two carriers. A judge said the concern that the training shortfall would endanger the public was "too speculative" to justify pushing back the deadline.

• Daily Press Review

Yemeni forces 'kill' cleric Anwar al-Awlaki
Al Jazeera, Doha, Qatar

Egyptians press military rulers in new protest
Asharq Al-Awsat, Pan-Arab daily, London, England

Bahrain jails 20 doctors after democracy protests
Egyptian Gazette, English-language, Cairo, Egypt

Egypt warns U.S. not to link military aid to democratic transition
Haaretz, Liberal daily, Tel Aviv, Israel

Yemen claims to have killed al-Qaida terrorist al-Awlaki
JPost, Conservative, Jerusalem, Israel

Weekly bin rounds get GBP 250m boost
BBC News, Centrist newscaster, London, England

U.S.-born Muslim cleric Anwar al-Awlaki killed in Yemen
CNN International, London, England

Al Qaida cleric killed in Yemen
Daily Express, Conservative tabloid, London, England

How Victorians enjoyed the great September heatwave of 1895
Daily Mail, Conservative daily, London, England

Arsenal's Jack Wilshere Tweets touching photo with his newborn baby boy
Daily Mail, Conservative daily, London, England

Back in the Day: James Dean killed aged 24
EuroNews, International news, Ecully Cedex, France

YEMEN: Radical US-born cleric al-Awlaki reportedly killed
France 24, Issy-les-Moulineaux, France

Two soldiers killed in clashes in SE Turkey
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

One dead and 30 injured in Venezuela train crash
Independent The, London, England

Policy behind Kudrin ouster
Moscow News The, Independent, Moscow, Russia

Michael Jackson trial: who is Dr Conrad Murray?
Telegraph The, Conservative daily, London, England

Michael Jackson: The 911 transcript
Telegraph The, Celebrity news, London, England

Weng: Oct 1 rally a small one
Bangkok Post, Independent, Bangkok, Thailand

Taiwan-born Dodgers pitcher Kuo may retire
China Post, English-language daily, Taipei, Taiwan

Software Developers Must Be Properly Rewarded
Chosun Ilbo, Conservative daily, Seoul, South Korea

US' 'jazz' approach towards Pakistan
Hindustan Times, New Delhi, India

Milk prices up by Rs 1-2 in Punjab, Chandigarh
India Times, Conservative daily, New Delhi, India

Marlins appoint Guillen as manager
Japan Times, Independent centrist, Tokyo, Japan

Key at odds with Mapp on SAS
New Zealand Herald, Conservative daily, Auckland, New Zealand

U.S. senator hails success of Libyan people, vows assistance
People's Daily Online, English-language, Beijing, China

Radical US-born cleric Awlaqi killed: Yemen defence ministry
Straits Times, Pro-government, Singapore

This wicker's a sticker
Sydney Morning Herald, Centrist daily, Sydney, Australia

China's Premier Wen says economic cures working
Taiwan News, English-language daily, Taipei, Taiwan

China Vice-Premier Li: Global risks rising
The Economic Times, Business, Mumbai, India

Drug injection clinic's fate rides on top court ruling
Canadian Broadcasting Centre, Toronto, Ontario

Filipino maid wins landmark Hong Kong ruling on residency
Globe and Mail The, Centrist daily, Toronto, Canada

Tom Hicks and George Gillett Still Seeking Liverpool Damages
International Business Times, Business news organization, New York, U.S

LATIN AMERICA: Murky Waters
IPS Latin America, International cooperative of journalists, Rome, Italy

Futures signal weaker open for U.S. equities
Reuters, Business News, New York, U.S

Yemen says al Qaeda cleric Awlaki killed
Reuters, World News, New York, U.S

Jailed U.K. mom tells her side of abduction story
Toronto Star, Toronto, Ontario

Libyan forces take Sirte airport
BBC News, Centrist newscaster, London, England

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