August 28, 2015 nº 1,664 - Vol. 13
 

"Don't pay any attention to the critics. Don't even ignore them."

Samuel Goldwyn

In today's Law Firm Marketing, 6 magic words that overcome a competitor's low price

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• MiMIC Journal

Chinese authorities arrest a dozen people over explosions in Tianjin

The explosion killed at least 139 people. The people detained worked for the company where the explosions happened and center around potential corruption.

China signs deal with Africa's richest man

A Chinese state-owned engineering company has signed a deal worth $4.3bn to build factories for a Nigerian cement company run by Africa's richest man, Aliko Dangote. China's Sinoma will build seven plants across the continent and one in Nepal. The new factories will add around 25 million tonnes to the firm's existing cement capacity of 45 million tonnes. Dangote's company also produces food, fertiliser and is investing in oil refineries.

Heard of China’s fake Rolexes? Now there’s a fake Goldman Sachs

China has been accused of pirating movies, handbags, Rolexes -- even cars. Add Goldman Sachs to the list. Goldman Sachs (Shenzhen) Financial Leasing Co. has been operating in the city just across the border from Hong Kong using a nearly identical English and Chinese name as the New York-based financial institution, Goldman Sachs Group Inc. It claims on its website to be one of the city’s largest financial leasing firms.

• Law Firm Marketing

6 magic words that overcome a competitor's low price
By Trey Ryder

You tell your prospect that you bill at $350 per hour. Your prospect responds by saying, "But another lawyer I interviewed charges only $175 per hour." Now, what should you say?

One powerful way to respond to your prospect's comment is to get out a piece of paper and divide the sheet into two vertical columns. Put your name at the top of one column and the other lawyer's name over the second.

In the first column, write down all the specific services, tasks and documents you include in your fee. (If you've followed my suggestions in past issues, you'll already have a detailed written list of services and fees in your desk drawer for just this occasion.)

In the second column, write down all the specific services, tasks and documents your competitor includes in his fee. In all likelihood, you won't know everything your competitor includes -- and neither will your prospect. So, the certainty of knowing exactly what you provide -- and the uncertainty of not knowing what your competitor provides -- allow your prospect to see clearly on paper "what he gets for his money" when he hires you.

But -- what do you do if your prospect raises the issue at your seminar? Or at a luncheon meeting? Or during a phone consultation? In these examples, taking out a sheet of paper for your two-column demonstration isn't practical.

So here's what you do instead. When you speak about your own fees, speak with confidence and be specific. A specific, confident answer builds credibility. Explain to your prospect exactly what you offer, clearly and carefully. Make sure you don't overwhelm your prospect with different numbers, which you could easily do because your prospect doesn't have this information on paper.

When you refer to a competitor, emphasize that you don't know (or can't be sure) what the other lawyer offers. An uncertain answer emphasizes doubt, arouses suspicion and increases skepticism.

And, since the other lawyer charges less than you do, it's easy and logical for you and your prospect to conclude that the other lawyer provides less. That could mean fewer services, fewer documents, or both. Then casually, with a question in your voice, add these six magic words:

"I wonder what he's leaving out."

In two seconds, you shot a big hole in your competitor's bucket. And now any credibility that he might have had with this prospect is fast spilling out all over the ground. With those six words, you logically and reasonably emphasized doubt, aroused suspicion, and increased skepticism. And it's legitimate because neither you nor your prospect knows what the other lawyer's fee includes.

If your prospect does know what the other lawyer includes in his fee, then you must go over that list with your prospect point by point. You must compare the other lawyer's list with yours, identifying how your services provide the prospect with precisely what he needs -- and how the other lawyer's services increase your prospect's risk.

Most lawyers do a poor job of creating a vivid picture of what their prospect receives when he hires the lawyer's services. Lawyers often assume, "My client gets me and everything I do for him." (That's about as vague as you can get!)

Prospects want a clear picture of what they get when they write you a check The more specific you are about your services, the more credible and trustworthy you appear to prospects. On the other hand, the more uncertain you are about your competitor's services, the more you arouse suspicion and distrust.

Memorize this short sentence -- because rarely will you find words that work as well as, "I wonder what he's leaving out."

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© Trey Ryder
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• Historia verdadera

Ruling will let more workers bargain with parent companies

A decision yesterday by the National Labor Relations Board will make it easier for unions to bargain for better pay and working conditions for millions of fast-food workers. The ruling is a boost for unions that have tried to organize workers at fast-food restaurants, which often are owned by big companies but run by franchisees. The companies have claimed their franchisees — not the companies themselves — control decisions about hiring, firing and paying employees. But yesterday's ruling could make it easier for unions to bargain directly with corporations like McDonald's on behalf of workers, instead of dealing with a patchwork of franchisees.

Google rejects EU's search abuse complaint

Google has rejected the EU's objections to how it displays shopping links in its search results as "wrong as a matter of fact, law and economics". Europe's competition commissioner accused the firm of abusing its dominance in search in April. Her intervention followed complaints from price comparison services that they were being unfairly disadvantaged by the prominence of Google's own ads. The US firm has now filed its formal response. Google says its shopping service - which appears as a box of images and links displayed at the top or right-hand side of other results - benefits customers and businesses without unlawfully distorting the market. And it rejects the EU commissioner Margrethe Vestager's suggestion that it should show ads sourced and ranked by other companies within the facility.

Germany court rejects Apple patent appeal

Germany's highest appeal court on Tuesday affirmed a 2013 decision by a lower court that invalidated a series of Apple smartphone patents. The ruling by the Federal Court of Justice invalidates the patents regarding the "swipe to unlock" feature of the Apple iPhone. In the statement, the court stated that they invalidated the patents due to their similarities to a phone released by Swedish phone company Neonode, Inc. a year before the 2007 launch of the iPhone. The court noted that although Apple's feature may have been easier to use, it was not enough to make the patent valid over the Neonode prior art. Motorola had originally filed the suit in 2008 as a unit of Google, but is now owned by Lenovo.

US blacklists Colombia 'Farc members' in Switzerland

The US has announced sanctions against four alleged members of Colombia's Farc rebel group, accusing them of drug trafficking and money laundering. The four men used a shop in Switzerland as a front for their activities, the US treasury department said. It says the Farc still use drugs to fund their "ruthless operation". Under the 1999 Kingpin Act, any assets the four men have in the US will be frozen. American firms and citizens are banned from doing business with them.

Ukraine crisis: Creditors to 'write off' 20% of debt

The Ukrainian government says it has reached a debt restructuring deal with its creditors including a write-off of up to $3.8bn. Finance Minister Natalia Yaresko said Ukraine's sovereign debt, estimated at $19bn, would be cut by 20% and the repayment period extended. Ukraine's economic woes have spiraled since conflict erupted with pro-Russia rebels in the east in April 2014. Hopes have risen of a peace deal amid continued fighting this week. The Organization for Security and Cooperation in Europe (OSCE) said on Wednesday that both the government in Kiev and the separatists had agreed to end shelling and aim for a full ceasefire from 1 September.

Walmart to halt selling some military-grade weapons

US retailer Walmart has announced it will stop selling certain military-grade guns due to low sales. That includes AR-15 rifles and other semiautomatic weapons, which were only being sold at a third of the 4,600 Walmart stores in the US. A company spokesman said the decision to stop selling the guns "wasn't political." Walmart shareholders have pushed the company to re-think its selling of guns with high-capacity magazines. Walmart shops carrying the guns will remove them before the store starts selling autumn merchandise.

'Merkel' has become a verb in German youth vernacular

The German chancellor's last name is used locally as a word of action that ironically means to not act at all.

Boeing case is latest targeting 401(k) plans with excessive fees

The aerospace giant is moving to settle a suit accusing it of mishandling its plan. The case is part of a legal assault by an attorney to stop firms from offering workers high-cost retirement plans.

FDA warns tobacco companies advertising 'natural' cigarettes

Unless a cigarette is safer than others, it can't be labeled "natural" or "additive-free," the Food and Drug Administration told three manufacturers.

Federal appeals court upholds ban on sports betting

The US Court of Appeals for the Third Circuit ruled against New Jersey Tuesday, deciding 2-1 to uphold the federal ban on sports betting in all but four states. New Jersey has been trying to legalize sports betting at its casinos and racetracks since 2009, hoping it can help boost struggling casino visitor rates due to increased competition from casino openings in Pennsylvania and Maryland. The issue at the center of the appeal included a 2014 New Jersey vote to repeal its ban on sports gambling in the state. The state maintained that this move did not violate the federal Professional and Amateur Sports Protection Act of 1992 (PASPA) since the state did not license or authorize sports betting. The Act limits sports gambling to Nevada, Oregon, Montana, and Delaware and prohibits other states from authorizing it.

Lawyer cubicles are coming to New York

Large law firms do something unprecedented when it comes to running its business. But we're pretty sure Paul Hastings LLP is about to forge new ground when it moves its New York office next spring. In its new midtown Manhattan space, junior lawyers won't get the offices many dream of in law school. Instead, they're getting a cubicle. The move will only affect first- and second-year associates, who will be seated in pods of 12 in prime window-lined real estate on the ends of floors. For now, the firm is calling them the "end zones."

• Daily Press Review

Obama praises New Orleans' post-Katrina recovery
Al Jazeera, Doha, Qatar

At least 20 Jews move into East Jerusalem's Silwan
Haaretz, Liberal daily, Tel Aviv, Israel

Many feared dead in Libya sinkings
BBC News, Centrist newscaster, London, England

Trump tousler reveals hair secrets
CNN International, London, England

Lucy Liu introduces her new baby boy Rockwell Lloyd born via gestational surrogate
Daily Mail, Conservative daily, London, England

WDBJ journalist Alison Parker's boyfriend breaks down on live TV during interview
Daily Mail, Conservative daily, London, England

Greece's first female PM sworn in
EuroNews, International news, Ecully Cedex, France

Migrant crisis summit overshadowed by new tragedies
France 24, Issy-les-Moulineaux, France

The transformation of Turkey's state identity
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey

Modern-day Monuments Men take on Isis by 3D-mapping ancient sites militants are seeking to destroy
Independent The, London, England

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

Virginia shooting victim's father: If Alison had an AK 47, it would've made no difference - latest
Telegraph The, Conservative daily, London, England

Martin Freeman tells of his 'terrible' first audition for Sherlock
Telegraph The, Celebrity news, London, England

Officials won't attend China parade: KMT
China Post, English-language daily, Taipei, Taiwan

More Customers Plump for Affordable Smartphones
Chosun Ilbo, Conservative daily, Seoul, South Korea

Pakistan: Suicide bomber kills wife, kids during police raid
Hindustan Times, New Delhi, India

Hashimoto, Matsui leaving Ishin no To as split in party worsens
Japan Times, Independent centrist, Tokyo, Japan

Puerto Rico braces for TS Erika after 4 dead in Dominica
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

Sharp mulls selling most of LCD business to Japan Display: Report
The Economic Times, Business, Mumbai, India

Time capsule: New Orleans' Lower 9th still pretty much as Katrina left it
Canadian Broadcasting Centre, Toronto, Ontario

Father of slain Virginia TV reporter speaks out on gun control
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

Oil markets extend gains after biggest daily climb in six years
Reuters, Business News, New York, U.S

Arms treaty conference fails to set reporting rules in Mexico
Reuters, World News, New York, U.S

Questions remain about Deloitte audit of Sen. Mike Duffy
Toronto Star, Toronto, Ontario

Many feared dead in Libya sinkings
BBC News, Centrist newscaster, London, England

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