March 9, 2012 nº 1,151 - Vol. 10
"Writing is easy: All you do is sit staring at a blank sheet of paper until drops of blood form on your forehead."
Gene Fowler
In today's Law Firm Marketing, The secret to selling with only a single sentence.
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Greek competes debt swap with 95.7% participation
The Greek government said it reached its target in the biggest sovereign restructuring in history, with a 95.7 percent participation rate among investors after it received approval to activate collective action clauses. Bondholders tendered 152 billion euros of Greek-law bonds, or 85.8 percent, after the government offered to swap their holdings for new securities under the debt exchange. Twenty billion euros of foreign-law bonds were also tendered, according to an e-mailed statement from the Greek Finance Ministry. Greece needs to carry out the debt swap before it gets a second bailout 130bn euros. A formal announcement on the take-up of the swap will be made on Friday. Greece had said it wanted 90% of bondholders, such as banks and pension funds, to agree to take a 53.5% cut in the 206bn euros ($272bn) of Greek bonds they hold. But it only requires a 75% take-up to be able to force through the deal. German reinsurance group Munich Re, French banks Societe Generale and BNP Paribas, and some pension funds, had said they would sign up. Together with a 130 billion-euro second Greek aid package, the writedown is a key element in European leaders' efforts to turn the tide against the crisis that has roiled Europe, forcing Ireland and Portugal to follow Greece in requiring bailouts.
U.S. regulators 'paralyzed' by lawsuit threat
Some U.S. regulators are "paralyzed" by the threat of lawsuits from Wall Street firms seeking to slow or stop the rollout of rules that would crimp their bottom line, a top U.S. official said on Thursday. Bart Chilton, a Democratic commissioner at the Commodity Futures Trading Commission, said if regulators live in fear of a lawsuit alleging they failed to consider sufficiently the costs and benefits of a rule, rulemaking slows or halts and opponents have succeeded. Regulators, already months behind in implementing rules from the Dodd-Frank financial reform law passed in 2010, are bracing for additional legal challenges as more regulations are completed. Insufficient or flawed analysis of the costs of a rule versus the benefits to the public or industry likely will be a reason cited in lawsuits seeking to overturn the measures.
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1 - Japan: Calls mount for restrictions on foreign lawyers to be eased - click here.
2 - Porn domain on Internet touches alarm buttons - click here.
3 - Your court proceedings are taking too long ? No problem, just sue the court... - click here.
4 - Dilma in Newsweek's Women Who Shake the World list - click here.
5 - Charged Olympus, 3 former execs, 3 former advisers over loss-hiding scandal in Japan - click here.
6 - National roll-out of 'Clare's Law' disclosure scheme delayed - click here.
7 - Toyota livid over confidential document aired on CNN - click here.
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China cyberwar a risk
China's cyber warfare skills pose a threat to the United States military in the event of a conflict, says a report for the US Congress.
China's inflation rate falls as food prices rises slow
China's inflation rate has fallen to a 20-month low as food price rises eased, giving policy-makers room to stimulate the economy. Inflation was 3.2% in February, down from 4.5% the previous month. That is the lowest since July 2010.An easing inflation rate allows the Chinese government to stimulate growth without worrying as much about fuelling price rises, an issue that has led to public unrest in the past. Food prices have been one of the biggest drivers of inflation in past months. China and other developing countries have been warned by the IMF - International Monetary Fund as well as The World Bank to prepare for the effects of a possible global slowdown this year.
Law on secret detentions
China proposed an amendment to the country's Criminal Procedure Law, which is significant for writing in the principle of "respecting and safeguarding human rights". The proposal requires the police to inform the suspect's family within 24 hours "after arrest and surveillance". However, suspects accused of subversion and other security charges can still be detained without their families being informed. In response to concerns over powers to detain dissidents and activists in secret, the legislature said there was no secret detention in China.
Beijing's trade warning
Washington upheld its ability to impose duties on subsidized goods from China and Vietnam. But China reaffirmed it does not have the obligation to abide by any country's domestic laws and regulations that are not in line with international rules.
China 'blocks Airbus deals' in EU carbon levy spat
China has blocked firms from buying planes made by European manufacturer Airbus in a row over a carbon levy. The EU levy took effect on 1 January, and will charge airlines for the amount of carbon dioxide (CO2) they emit. Beijing has not commented, and it is not clear whether it is official policy or a negotiating ploy, analysts say. This appears to be the heaviest weapon yet deployed in the battle between the EU and its opponents over charging airlines for their global warming emissions. Critics say the EU has no right to impose levies on flights to or from destinations outside Europe.
Law Firm Marketing
The secret to selling with only a single sentence
by Tom Trush
If you recognize the saying "Don't sell the steak, sell the sizzle," then you've had an introduction to Elmer Wheeler.
A master salesman and pioneer of persuasion who rose to prominence in the 1930s, Wheeler came up with the seven-word phrase to explain the importance of demonstrating benefits in selling situations, instead of describing details and facts.
What made Wheeler extraordinary was his ability to step into corporations and stores, study their operations, and then construct single sentences that caused sales to soar. He claimed to have used 105,000 sentences on 36 million consumers to determine which specific words produced the best results.
For example, when Barbasol hired Wheeler to increase shaving cream sales, he tested 141 sentences on potential customers before selecting "How would you like to cut your shaving time in half?"
The result?
Sales jumped 300%.
When Texaco's management team wanted to increase revenue, they sought out Wheeler to come up with a replacement for the typical "Check your oil today?" question that station attendants asked customers who stopped for gas.
Wheeler was paid $5,000 (obviously, a huge sum in the 1930s) for the following nine-word inquiry: "Is your oil at the proper level today, sir?"
During the next week, Texaco's filling-station men found themselves under 250,000 vehicle hoods.
Wheeler proved if you ask the right question, you'll get the sales you want. The foundation for his word magic came from countless hours of observation and common sense, which eventually led him to create his five "Wheelerpoints."
Wheelerpoint #1: Don't sell the steak, sell the sizzle!
Tom's translation: Your prospects don't care about your actual legal services -- only the benefits they provide.
Wheelerpoint #2: Don't write -- telegraph.
Tom's translation: You have only a few seconds to grab your prospect's attention, so be concise and use your words wisely.
Wheelerpoint #3: Say it with flowers.
Tom's translation: Demonstrate your legal services by using words that create mental images in your prospects' minds -- and back up your claims with proof.
Wheelerpoint #4: Don't ask if -- ask which!
Tom's translation: Always offer prospects a choice between something and something -- not something and nothing.
Wheelerpoint #5: Watch your bark!
Tom's translation: The presentation of your message is just as important as the words you write, so keep your copy conversational and engage your prospects.
In 1947, Elmer Wheeler presented his five "Wheelerpoints" in "Man to Man," a 24-minute training film for gun dealers about salesmanship and psychology. You can check out the classic footage here: https://www.archive.org/details/MantoMan1947. (When you watch the film, you'll see how Wheeler's selling principles apply to any industry.)
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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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Emigración
México dice que su ley de Migración contemplan atención de connacionales que regresan de EE.UU. (Presione aquí)
Bloqueo
China decidió bloquear la importación de carne de Uruguay, la medida se habría dado luego de un reclamo de autoridades argentinas al gigante de Asia. (Presione aquí)
Energía
La Oficina de Conflictos de Intereses española autorizó a la ex vicepresidenta de ese país, Elena Salgado, para que forme parte del Consejo de la compañía eléctrica Chilectra, luego que no encontrara objeción alguna para que fiche por la empresa chilena que forma parte del grupo Enersis, dependiente de Endesa. (Presione aquí)
Coke and Pepsi alter recipe to avoid cancer warning label
Coca-Cola and Pepsi are changing the recipes for their drinks to avoid putting a cancer warning label on the bottle, to comply with California laws. The new recipe for the drinks' caramel coloring will have less 4-methylimidazole, a chemical California has added to its list of carcinogens. The change to the recipe has already been introduced in California. But the companies say rolling out the new recipe across the US makes the drinks more efficient to manufacture. Coca-Cola and PepsiCo account for nearly 90% of the fizzy drink market, according to one industry tracker, Beverage Digest.
Hungary must change laws before receiving aid
The European Union said Wednesday that Hungary must change two controversial laws that went into effect with the country's new constitution on January 1 in order to comply with EU law before aid will be provided to the country. Hungary requested financial aid from the EU and the International Monetary Fund last year. The EU stated that laws which lowered the mandatory retirement age of judges and affected the independence of the country's data protection authority were not in compliance with EU law. The law affecting the retirement age of judges, which is expected to lead to the retirement of 274 judges and public prosecutors, violates EU laws on equal treatment in employment which prohibit age discrimination. The EU stated that a law which prematurely terminated the country's previous data protection supervisory authority and gives the president too much power to dismiss the data protection supervisor was also not in compliance with EU law. The memo further stated that the EU was also concerned independence of the judiciary, because the new constitution gives the president the power to designate a court for a given case and also transfer judges without consent, and the independence of the national central bank, because the government has been issuing press releases criticizing the central bank's policy and the Governor of the national central bank's wage regime potentially allows the government to pressure and influence him. Hungary has until February 17 to respond to the EU's concerns. Hungary's new constitution was approved last April and went into effect on January 1.
Egypt court acquits police official charged with murdering protesters
The North Cairo Criminal Court on Thursday acquitted a police officer, Mohamed Abdel Moneim, charged with killing 20 protesters and injuring another 15 protesters. Moneim's defense lawyers argued that he was just attempting to protect himself and the police station. He had no intent to kill the protesters, and, due to the chaos of the situation, it was impossible to know truly who shot who. Moneim initially fled and was convicted and sentenced to death, but then turned himself in and was retried. The court also ordered the procedures of a second trial, in which Moneim was sentenced to life in prison for the alleged attempted murder of two other protesters, to be examined. Two other police officers that worked at the same station as Moneim were also acquitted.
'Conspiracy' to raise ebook prices
Five US publishers are being threatened with legal action over the way they set prices for electronic books. The US Department of Justice (DoJ) said the five had conspired to raise the prices of ebooks. Also included in the legal threat is electronics firm Apple because of its role in the way ebooks are priced. The threat comes as the publishers negotiate with the DoJ about the pricing model for electronic books. The five publishers are Simon and Schuster, Hachette, the US arm of Penguin, Macmillan and HarperCollins Inc.
US challenges India poultry ban
The US drags India to the World Trade Organization challenging Delhi's ban on imports of American poultry goods. ndia has banned shipments of US farm products, including poultry meat and chicken eggs, since 2007 to prevent the spread of avian flu. US authorities said India had imposed the ban to protect local industry and that it violates global trade rules. The move comes just days after the US created a new panel to crack down on unfair trade practices by its partners. Ron Kirk, US Trade Representative, said that India's ban was "clearly a case of disguising trade restrictions by invoking unjustified animal health concerns".
Senate rejects plan to hasten decision on Keystone XL
Democrats in the US Senate have voted down a Republican plan to hasten approval of an oil pipeline project. Earlier, the White House put the plan on hold, saying it needed more time to assess the environmental impact of the $7bn Keystone XL project. Supporters say the pipeline, which would run from Canadian oil sands to refineries in Texas, would create jobs and reduce US reliance on foreign oil. The measure was part of a $109bn bill for funding transportation projects. This issue could be used to attack the president's energy policy during an election year, correspondents say.
Carlos Slim tops Forbes annual rich list
Mexican tycoon Carlos Slim has once again come top of Forbes magazine's annual list of the world's richest billionaires. The magazine estimates that Slim, whose business interests range from telecommunications to construction, is worth $69bn. He is followed by Microsoft founder Bill Gates on $61bn, and US investor Warren Buffett on $44bn.
Challenge to law firm ownership ban thrown out
A Manhattan federal judge has thrown out a closely watched lawsuit challenging a rule that bans non-attorneys from investing in law firms. Jacoby & Meyers, a well-known personal injury law firm, had challenged the constitutionality of the New York state ethics rule that prohibits non-lawyers from having a financial stake in firms. It argued that Rule 5.4 imposed higher capital costs on the firm, which impaired its ability to serve low-income individuals. But U.S. District Judge Lewis Kaplan on Thursday found that the firm lacked standing to bring the case because it had not proved it had been harmed by the rule. "The ruling they seek would be a purely advisory declaration of the sort that is forbidden to federal courts," he wrote.
The Brazilian economy is still booming; now ranks world’s 6thlargest
Brazil has become the sixth-biggest economy in the world. The Brazilian economy, which grew 2.7% last year, is now worth $2.5tn, according to Finance Minister Guido Mantega. He was keen to play down the symbolic transition - which comes after China officially overtook Japan as the world's second-biggest economy last year. "It is not important to be the world's sixth-biggest economy, but to be among the most dynamic economies, and with sustainable growth," he said. Brazil is enjoying an economic boom because of high food and oil prices, which has led to rapid growth.
Stanford convicted in Ponzi scheme
A jury in the US District Court for the Southern District of Texas on Tuesday convicted financier Allen Stanford on charges of orchestrating a $7 billion Ponzi scheme affecting investors in both the US and Latin America. Stanford was convicted on 13 of 14 charges, including conspiracy to commit wire or mail fraud, conspiracy to obstruct a SEC - Securities and Exchange Commission investigation, obstruction of an SEC investigation and conspiracy to commit money laundering in addition to five counts of wire fraud and five counts of mail fraud. He was acquitted on one charge of wire fraud. Stanford faces more than 20 years in prison if the judge orders that sentences be served consecutively. The verdict allows the U.S. government to start trying to seize some $330 mln, held in 29 accounts around the world, and return them to investors.
Court blocks 2 more sections of Ala. immigration law
The 11th U.S. Circuit Court of Appeals issued an order blocking a section that says courts can't enforce contracts involving illegal immigrants and another that makes it a felony for an illegal immigrant to do business with the state. Alabama's law was challenged last year by both the federal government and a coalition of activist groups.
Surgeon General calls smoking a 'pediatric epidemic'
The U.S. Surgeon General is sounding the alarm about kids and tobacco, saying a lot more has to be done to keep minors from lighting up. Most smokers in high school will smoke as adults, and half of them will die prematurely as a result.
UN members urged to end sexual orientation-based discrimination
The UN Human Rights Council on Wednesday urged member states to put an end to sexual orientation-based violence and discrimination. In a video address, UN Secretary-General Ban Ki-moon acknowledged that sexual orientation and gender identity are sensitive subjects, but said action needs to be taken because lives are at stake. He called the violation of LGBT - lesbian, gay, bisexual or transgender individuals' rights "a monumental tragedy" and "a violation of international law." Reaching out to LGBT individuals the Secretary-General said: "To those who are lesbian, gay, bisexual or transgender, let me say: You are not alone. Your struggle for an end to violence and discrimination is a shared struggle. Any attack on you is an attack on the universal values the United Nations and I have sworn to defend and uphold. Today, I stand with you, and I call upon all countries and people to stand with you, too. A historic shift is underway."
Greece secures backing for debt swap deal
Al Jazeera, Doha, Qatar
Gaddafi hid arms in Libyan embassies across globe
Asharq Al-Awsat, Pan-Arab daily, London, England
Ahmadinejad rivals leading in vote
Egyptian Gazette, English-language, Cairo, Egypt
Mormons restrict access to list of Holocaust victims
Haaretz, Liberal daily, Tel Aviv, Israel
'Arab countries sending mercenaries into Syria'
JPost, Conservative, Jerusalem, Israel
'Lives wasted by adoption delay'
BBC News, Centrist newscaster, London, England
Creditors agree to Greek bond deal
CNN International, London, England
Al Qaida confirms militant's death
Daily Express, Conservative tabloid, London, England
Avatar director James Cameron prepares for 7-mile solo dive into Pacific Ocean's Mariana trench
Daily Mail, Conservative daily, London, England
Angelina Jolie refrains from flashing some leg on the red-carpet by slipping into a trouser suit
Daily Mail, Conservative daily, London, England
British and Italian hostages killed in failed rescue bid in Nigeria
EuroNews, International news, Ecully Cedex, France
GREECE: Greek creditors agree to crucial debt swap deal
France 24, Issy-les-Moulineaux, France
FEMEN activists detained in Istanbul
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey
Osama Bin Laden's eldest wife may have collaborated with CIA
Independent The, London, England
Bankers positive on Putin's return
Moscow News The, Independent, Moscow, Russia
PC David Rathband: timeline on his fight for life since Raoul Moat shooting
Telegraph The, Conservative daily, London, England
Mad Men star Elizabeth Moss defends co-star January Jones
Telegraph The, Celebrity news, London, England
SET drops 1.67 points midday
Bangkok Post, Independent, Bangkok, Thailand
High-flying Chinese leader reappears after absence
China Post, English-language daily, Taipei, Taiwan
Asian Military Spending Overtakes Europe's
Chosun Ilbo, Conservative daily, Seoul, South Korea
Syrian rebels reject Annan's call for dialogue
Hindustan Times, New Delhi, India
Mother ties baby to self, jumps before running train
India Times, Conservative daily, New Delhi, India
Japan prepares to commemorate Tohoku tragedy
Japan Times, Independent centrist, Tokyo, Japan
Military dispute in Sri Lanka leads to gunfight, 3 troops die
New Zealand Herald, Conservative daily, Auckland, New Zealand
Chavez recovering from cancer surgery in Cuba
People's Daily Online, English-language, Beijing, China
Australia probes claims turtles, dugongs butchered alive
Straits Times, Pro-government, Singapore
Manhattan's '$10m madam'
Sydney Morning Herald, Centrist daily, Sydney, Australia
British Queen Elizabeth II launches nationwide Diamond Jubilee tour
Taiwan News, English-language daily, Taipei, Taiwan
Sri Lanka C. bank: Will act to curb rupee volatility
The Economic Times, Business, Mumbai, India
Air Canada contract fights sent to labour board
Canadian Broadcasting Centre, Toronto, Ontario
Watching a once-great party circle the drain
Globe and Mail The, Centrist daily, Toronto, Canada
Economic Recovery Sluggish in Egypt and Tunisia
International Business Times, Business news organization, New York, U.S
Brazilian Women Are the World's Happiest
IPS Latin America, International cooperative of journalists, Rome, Italy
February jobs gains seen strong, keeping Fed at bay
Reuters, Business News, New York, U.S
Syrian rebels reject Annan's call for dialogue
Reuters, World News, New York, U.S
Would getting control of the Mayor's brother Doug solve the city's problems?
Toronto Star, Toronto, Ontario
Nigeria deaths: Italy angry at UK
BBC News, Centrist newscaster, London, England
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