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Monday, July 09, 2007

Closer Look

 Closer Look

Who's Running?

Some notable names in the field of potential presidential candidates.


Officially Announced
Established Exploratory Committees Back to top

Republicans
Widely Mentioned Back to top
Democrats
Retired NATO commander; from Arkansas
Former vice president; from Tennessee
Minister and activist; from New York
Republicans
Former House speaker from Georgia
Senator from Nebraska
Actor and former senator from Tennessee
Independents
Officially Not Running Back to top
Democrats
Senator from Indiana
Senator from Wisconsin
Former governor of Virginia
Republicans
Senator from Tennessee

Tips

To find reference information about the words used in this article, double-click on any word, phrase or name. A new window will open with a dictionary definition or encyclopedia entry.
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Rodrigo González Fernández
www.consultajuridicachile.blogspot.com
www.lobbyingchile.blogspot.com
Renato Sánchez 3586
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Legal Blog Watch

Legal Blog Watch

$1M in Business Won't Get You a Place at a Law Firm

The lateral road to equity partnership has gotten rockier in recent years, according to this LA Business Journal article, Sorry Partner, Not For Just a Million (7/9/07). According to the article, Los Angeles lawyers with one million in portable business can no longer expect to snag an equity partnership at top-tier firms, which these days are demanding at least $1.5 million in portable business and would prefer $2 million. The article explains that a firm generating $1 million in profits per partner likely has a book of business average of at least $2.5 million. So to bring in a partner with less than that amount of business would dilute existing partners' profits. 

So what are the options for a $1 million partner who wants to change firms? Many migrate to regional firms where $1 million is still significant. Others can take "of counsel" or nonequity positions at other firms. And of course, another option that isn't discussed is that lawyers with that amount of business can open up their own shop. 

What the article doesn't discuss is how the $2 million portable requirement affects associates. Are there midlevel associates who are generating that much in portable business (after all, it seems as if partners have even more incentive to hang on to all client matters to retain their equity statuts)? But if midlevel associates don't have a $2 million book of business, do they have a chance of ever moving to another firm? 

Posted by Carolyn Elefant on July 9, 2007 at 02:08 PM | Permalink | Comments (0)

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Rodrigo González Fernández
www.consultajuridicachile.blogspot.com
www.lobbyingchile.blogspot.com
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www.lobbyingchile.blogspot.com
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Minister of Finance


Minister of Finance dismisses any political pressure in connection with Superintendency of Securities and Insurance pronouncement

The minister of finance, on commenting on the sanctions applied today by the Superintendency of Securities and Insurance to company directors infringing the Securities Market Law, stated that all the decisions made by this supervisory entity are based on technical grounds.

See complete note
 
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Rodrigo González Fernández
www.consultajuridicachile.blogspot.com
www.lobbyingchile.blogspot.com
Renato Sánchez 3586
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Minister of Finance disregards a "sudden halt" of the economy and reafirms solid growth trend

 
Minister of Finance disregards a "sudden halt" of the economy and reafirms solid growth trend

The minister of finance called not to "overinterpret" monthly figures and asked to focus on longer periods to draw conclusions on the course of our economy. He sustained that economic expansion during 2007's first five months amounts to 5.8%, which is exactly the government's projection for this year.

See complete note
Saludos
Rodrigo González Fernández
www.consultajuridicachile.blogspot.com
www.lobbyingchile.blogspot.com
Renato Sánchez 3586
telefono: 5839786
santiago-chile
 
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Friday, July 06, 2007

Climate Change and Clean Energy

Climate Change and Clean Energy
red rule

 
A diesel-electric hybrid bus
A diesel-electric hybrid bus drives through Seattle. (File photo © AP Images)
Energy Conservation, Renewables Get Boost in Senate Bill

The U.S. Senate approves an energy bill that has a key focus on reducing energy use and addressing global warming. The legislation concentrates mostly on oil conservation in the transportation sector. Senate Democratic Leader Harry Reid says in a statement that the legislation "starts America on a path toward reducing our reliance on oil by increasing our use of renewables and for the first time in decades significantly improving the fuel efficiency of cars and trucks." (complete text)


G8 Countries Agree on Process To Address Global Warming

Leaders of the Group of Eight countries agree on an accelerated process that eventually can lead to "substantial" cuts in emissions that contribute to global warming. "We are … committed to taking strong and early action to tackle climate change," they say in a declaration issued in Heiligendamm, Germany. Calling climate change an "urgent challenge," the leaders called on the countries that are heavy users of energy and emitters of greenhouse gases to establish by the end of 2008 a new global framework for dealing with emissions of these gases. Such a framework would serve as a basis for reaching, by the end of 2009, a broader global agreement under the auspices of the United Nations that would replace the Kyoto Protocol once it expires in 2012. (complete text)


United States, Brazil Seek a Central America Driven by Biofuels

With the help of the United States and Brazil, three Central American countries and one Caribbean nation could become less dependent on oil imports by switching their economies to biofuels, according to U.S. and Brazilian officials. "We seek to promote the democratization of energy in the Americas, increasing the number of energy suppliers, expanding the market and reducing supply disruption," U.S. Secretary of State Condoleezza Rice says. (complete text)
Saludos
Rodrigo González Fernández
Consultajuridicachile.blogspot.com
Renato Sánchez 3586
telefono: 5839786
santiago-chile
 
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Thursday, July 05, 2007

DEMOCRACY NOW! DAILY EMAIL DIGEST

DEMOCRACY NOW! DAILY EMAIL DIGEST
July 5, 2007

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Rodrigo González Fernández
Consultajuridicachile.blogspot.com
Renato Sánchez 3586
telefono: 5839786
santiago-chile
 
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Wednesday, July 04, 2007

FROM UNESCO

Français
Sitio web en español
July 4, 2007
In Focus
Networks and Partnerships

©P. Maluhy/Ethnic A.
Detail of a huipil (Guatemala)
In addition to maintaining privileged relationships with its Member States, UNESCO is stepping up its efforts to cooperate with public and private partners on the basis of shared ethical principles. Thanks to their technical expertise and financial support, these partners enable the Organization to respond efficiently to requests for international assistance in the fields of culture that lie within its competence.
News and Events
  • Reducing Risks to Collections Sibiu, Romania
    04 - 06 07 2007  The purpose of the three-week session of the international course on "Reducing Risks to Collections" is to focus on the preventive conservation of museum collections. 
  • "Breaking the Chains Prize" at the 10th Zanzibar International Film Festival (ZIFF) Zanzibar, United Republic of Tanzania
    04 - 08 07 2007  The UNESCO Slave Route Project, in partnership with the ZIFF (Zanzibar International Film Festival) and the British Council Office in Tanzania, created the "Breaking the Chains Prize" for the best film to shed new light on slavery and its legacy.
  • Risk-Management for Cultural Heritage Yogyakarta, Indonesia
    04 - 09 07 2007  This training workshop is organized within the framework of the action plan for the rehabilitation of the earthquake-affected Prambanan World Heritage Compounds.
  •  An Introduction to Musical Ethnography Addis Ababa, Ethiopia
    04 - 13 07 2007  One of the main objectives of the UNESCO/Norway Funds-in-Trust Project "Ethiopia – Traditional Music, Dance and Instruments" is to contribute to the trains Ethiopian students to create an environment in which Ethiopia's music and dance traditions will continue to be identified, inventoried and recorded. 
  • Living Heritage: Exploring the Intangible Paris, France
    04 07 - 30 11 2007  Photo exhibition displayed on the fence surrounding UNESCO Headquarters and presenting more than 100 photos on traditional music, dance and theatre, social practices, rituals and festivals and traditional knowledge and skills, and oral traditions that communities and groups around the world receive from their ancestors and pass on to their descendants.
  • Information Meeting on Arts Education Paris, France
    05 07 2007  This Permanent Delegates' information meeting is a follow-up to the World Conference on Arts Education on "Building Creative Capacities for the 21st Century". 
  • Launch of SEAL of Excellence in South Africa Pretoria, South Africa
    06 - 07 07 2007  The World Crafts Council has given its sanction for the SEAL of Excellence Award introduction to South Africa as the pilot country for the African Continent. 
  • The Convention on the Protection and Promotion of the Diversity of Cultural Expressions and International Cooperation Madrid, Spain
    10 - 12 07 2007  This first meeting of international experts aims at analyzing the articles of the Convention on the Protection and Promotion of the Diversity of Cultural Expressions related to international cooperation. 
  • Inventorying Intangible Cultural Heritage in Madagascar Antananarivo, Madagascar
    16 - 20 07 2007  This international workshop aims at discussing and defining a preliminary template for a National Inventory of Intangible Cultural Heritage in Madagascar.
  • Nomination of the West Tien-Shan as Trans-boundary Natural Heritage Site Almaty, Kazakhstan
    18 - 19 07 2007  The sub-regional meeting will contribute to defining the nomination strategy and modalities for the West Tien-Shan as a natural World Heritage site as well as providing relevant authorities with guidance on the preparation of the nomination file.
  • Launch of Children's Books in Banda Aceh Banda Aceh, Indonesia
    22 07 2007  As part of the UNESCO Programme for the safeguarding and re-establishment of tangible and intangible cultural heritage in the post-tsunami environment of Aceh, six children's books highlighting local traditions and culture for primary and secondary school students will be launched at the Museum Aceh. 
  • Namibia's "Heritage Hunt" Windhoek, Namibia
    26 07 2007  UNESCO is supporting the Heritage Hunt, a national campaign to be launched by the Honourable Minister of Youth, National Service, Sport and Culture of Namibia, Johan Mutorwa. 
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Saludos
Rodrigo González Fernández
Consultajuridicachile.blogspot.com
Renato Sánchez 3586
telefono: 5839786
santiago-chile
 
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Monday, July 02, 2007

Getting out of the "time tunnel"

Susana SechiAt the beginning of the XXIst century Cience and Technology swiftly advance in an attempt to improve mankind's life quality. The members of the civilized countries are looking for the betterment of international energy transportation nets while commercially reaching closer in order to strengthen the economic growth and to get ready to face the snags derived from the increasing demand of new energetic sources.

A bunch of Latin American countries, however, have stepped into the "time tunnel" helped by certain tyrants that overthrew democracy disguised as rulers and put forward outdated ideologies with the aim of deceiving their own peoples. These peoples were sinking in serious institutional crisis springing from corrupt political corporations that triggered the chance for some opportunists to take power.

Leer el resto »

Autor: Susana Sechi
Director of La Historia Paralela

Email: susanasechi@gmail.com

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Rodrigo González Fernández
Consultajuridicachile.blogspot.com
Renato Sánchez 3586
telefono: 5839786
santiago-chile
 
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Saturday, June 30, 2007

Tom Peters Times - July 2007

Tom Peters Times - July 2007

What Is It Worth to Understand Culture?

I've given much thought to the whole concept of corporate culture: What is it? Why is it important to understand? How does it relate to strategy and affect business outcomes? I've been in job situations where I recognized "I just wasn't a good fit" and I've observed this phenomenon with others; perfectly talented individuals who don't seem to perform well. It had nothing to do with competency. It had to do with the environment in which I/they worked. As a matter of fact, within the same company with the same job title, I found myself being a good fit and a high performer and a bad fit with average performance depending on where I landed at the end of any given re-org. How could this be?

What is culture? Simply, it is the culmination of shared values, assumptions, and beliefs tacitly and/or explicitly expressed within an organization. Why is it important to understand? Because, it determines how people behave and how work gets done. Let's consider how values and beliefs drive behavior using a consumer analogy: I need milk. The convenience store is closer than the grocery store (I value my time), but it is more expensive (I'm frugal). The grocery store offers more options (I value choice). I decide choice and price are more important than convenience, so I drive to the grocery store. While there, I evaluate my options: Whole milk is tasty, but I am weight conscious so I eliminate that option. While I am frugal, I am also health conscious. Although soy milk is more expensive it has additional perceived health benefits, so I choose soy. While, at some point, these decisions were conscious, as long as all factors remain the same and the reward for my behavior is greater than the cost, I continue to behave consistently and, eventually, subconsciously. What happens when my grocery store discontinues soy milk, the price goes up, or traffic becomes unbearable? Suddenly, I am forced to re-evaluate my behaviors to stay consistent with my values in order to achieve the outcome I find desirable.

What does this example have to do with corporate culture? First, we must recognize that the same values driving individuals' buying behaviors also drive their behaviors at work. We should ask ourselves, then, "Why don't we spend as much time analyzing the values of our talent pool to predict on-the-job performance and satisfaction as marketers do the values and emotional drivers of their target market to determine buying behaviors and loyalty?" Second, employees will behave in accordance with their values, regardless of your business strategy. Hence, the reason culture must be aligned with strategy. If, for example, your aggressive, high growth business strategy creates an unstable environment that requires individuals to take risks, an individual valuing stability, security and consistency will feel anxious and begin to seek ways to remedy their discomfort. In some cases, they are able to adapt and learn the behaviors necessary to succeed. In others, the personal transformation is simply not possible and they fail. The best way to avoid this is to determine "fit" during the selection process. However, just as your strategy changes throughout the life of your business, so must your culture. Changing your culture is not impossible, as many would believe. You just have to carefully evaluate and adjust the factors that influence culture, such as your systems (reward, IT), structure (reporting, physical), policies, HR practices (selection, training), communication, leadership-style, etc ... As Tom says, "Culture change, that elusive goal, can be achieved one project at a time."

Darci Riesenhuber
Transformation Architect
tompeters!company

Brand You Road Trip

After the success of our public Brand You session in Boston, we have decided to bring the experience to others as well. You may already know about our session in Denver, CO, on August 1, in which we are partnering with Arapahoe Communiy College. For more information on that event, click here.

Additionally, we are finalizing plans for an event for early October in Dallas, TX. For more information on either event, or the Brand You program in general, please contact Nick at nadams@tompeters.com.

Back to top

Cool Friends

Everybody's favorite Cool Friend, Seth Godin, returns to talk about his newest book, The Dip: The Little Book That Teaches You When to Quit (and When to Stick), and his latest website success, www.squidoo.com, where you can build a page about your passion in 4.2 minutes or less. Read Seth's third Cool Friends interview here. Welcome back, Seth!

Back to top

 

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Rodrigo González Fernández
Consultajuridicachile.blogspot.com
Renato Sánchez 3586
telefono: 5839786
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Legal Blog Watch

Legal Blog Watch

Avvo Files Motion to Dismiss

A few weeks ago, I participated in this discussion at Avvo, a new lawyer directory and ratings system. Mark Britton and Avvo didn't participate in the show, but now, their position was clarified with the filing of this 34-page, footnote-packed Motion to Dismiss

From my brief read of the Motion, it seems that courts have previously addressed the legality of ratings systems and generally concluded that they are protected by the First Amendment. In this post at Avvo's Blog, a press release states that:

"Americans have the constitutional right to rate everything from restaurants, beers, books, and movies to colleges, law schools, architecture, and airlines," said Bruce E.H. Johnson, partner, Davis Wright Tremaine LLP, and Avvo's counsel. "Lawyers routinely exercise their right to rate judges. It's a wonderment these particular lawyers seem to believe that Americans shouldn't rate them."  Noting cases involving the California Bar Association, Martindale Hubbell, Esquire Publishing and The El Paso Times in which opinions about attorneys constituted protected speech, Avvo's Motion to Dismiss cites extensive case law protecting media outlets' First Amendment rights and rebuts the allegations in the Class Action Complaint. That complaint, filed in U.S. District Court on June 14, was initiated by Seattle attorney John Henry Browne whose Avvo Rating exposed a recent disciplinary action he received from the Washington State Bar Association.

Avvo isn't just fighting in the courtroom but on the PR front as well. As this post describes, Avvo has made some changes to its site that address some of the complaints raised in the lawsuit.

After reading the Avvo Motion, it seems to me that if lawyers are going to continue to oppose Avvo, they're going to have to come up with better arguments than, "I just don't like my rating." And moreover, as a recent op-ed piece by Thomas Friedman points out (excepted in this post from the Moderate Voice), the Internet is forcing all of us to change not what we do but how we do it. With bloggers and self-publishers abounding, we all have to zealously guard our online reputations. Whether Avvo and its ratings system survive or not, there will always be information out on the Web about us, some of it positive, some not so much. That's a reality of today's Internet Age -- and one that I willingly accept in exchange for all of the benefits and possibilities. Do you?

Posted by Carolyn Elefant on June 29, 2007 at 02:46 PM | Permalink | Comments (0)

Supreme Court to Hear Detainee Case Next Term

In a brief but highly unusual order issued this morning, the Supreme Court reversed course and agreed to hear the Guantanamo detainee case, concerning  the constitutionality of the administration's policy of detaining so-called enemy combatants without allowing them to challenge the legality of detention through use of a writ of habeaus corpus. The New York Times covers the story  here. According to the article, the reconsideration -- which required support from five justices -- "signaled that [they] had determined they needed to resolve a new politically and legally significant Guantanamo issue, after two earlier Supreme Court decisions that have been sweeping setbacks for the administration's detention policies." 

Lyle Denniston offers additional insight on the Court's change in course:

Under the Court's Rules and precedents, it would have taken the votes of five Justices to grant rehearing, compared with the requirement of four votes to initially grant an appeal. When the Court denied review in April, only three Justices voted to hear the cases. But two of the other six, Justices John Paul Stevens and Anthony M. Kennedy, indicated they wanted the detainees to first attempt to get legal relief in the D.C. Circuit. Under the Detainee Treatment Act, the Circuit Court has the authority to provide limited review of military decisions to continue holding Guantanamo prisoners as "enemy combatants." Friday's order was an indication that those two Justices had decided that the Court needed to change its approach, and so provided the votes needed to grant rehearing. (It is a fair assumption that Chief Justice John G. Roberts, Jr., was not in favor of rehearing; in an in-chambers order he issued on an earlier procedural matter in the detainees cases [applications 06A1001 and 06A1002] on April 26, Roberts opined that "possible court action" in the D.C. Circuit Court would not be enough to justify a grant of review in the face of the April 2 denial.) Under the Court's rules, a rehearing is granted only if there has been a change in "intervening circumstances of a substantial or controlling effect" or if counsel can cite "substantial grounds not previously presented." The new order did not state what changes had come about since the denial in April. The detainees' lawyers, in their rehearing petition, had said that the unfolding of the review process in the D.C. Circuit Court would soon provide them with an argument for rehearing, since the process would be shown to be inadequate. More recently, the detainees' lawyers had told the Court that information from inside the Pentagon detainee-review process confirmed their claim that the process was a "sham."

And in a later post, SCOTUS Blog summarizes the questions presented in the detainee cases. The main questions from the lead case are:

1. Whether the Military Commissions Act of 2006, Pub. L. No. 109-366, 120 Stat. 2600, validly stripped federal court jurisdiction over habeas corpus petitions filed by foreign citizens imprisoned indefinitely at the United States Naval Station at Guantanamo Bay. 2. Whether Petitioners? habeas corpus petitions, which establish that the United States government has imprisoned Petitioners for over five years, demonstrate unlawful confinement requiring the grant of habeas relief or, at least, a hearing on the merits.

With only two years left in Bush's term in office, the Court could have easily avoided these issues and left the potential for change in policy to another administration. By stepping in now, the Court will clarify these issues not just for this administration but for those to come.

Posted by Carolyn Elefant on June 29, 2007 at 02:44 PM | Permalink | Comments (0)

New Marketing Idea: Become a Trial Groupie

So what if your firm wasn't selected to represent a defendant in a big-time trial? You can still gain benefits by becoming a "trial groupie" -- hanging out at the courthouse, observing the trial (perhaps even live-blogging it at breaks) and getting yourself interviewed as an expert commentator on TV. That's a strategy that worked big time for one law firm, as described in this piece,  Perkins Coie Finds Marketing Opportunity in Conrad Black Trial Commentary, The National Law Journal (6/29/07).

From the article:

Chicago Perkins Coie partner Hugh Totten and one of the firm's public relations specialists, Lori Anger, hatched a plan at the beginning of the criminal fraud trial to see what kind of publicity they could drum up by making Totten available to comment on the case for the 400 registered U.S. and international press personnel covering it. Many of the law firms in town weren't able to comment publicly because they were representing one of the defendants or witnesses in the case.  So, Totten, a litigator specializing in complex civil cases and co-chair of the group's construction and design team, started sitting in on the trial at the federal courthouse, conveniently located across the street from the firm's Chicago office. It's the same kind of trial he typically works, just with a different burden of proof, he said. Mixing with reporters was natural for him given his journalism studies at Purdue University and his former editor position at the college's newspaper.  To say the plan was successful is an understatement. Totten, a former Kirkland & Ellis attorney who has little experience in criminal defense, got comments into newspapers and wire services all over the world, including the Chicago Tribune, the Financial Times of London, the Globe and Mail in Toronto and Bloomberg News.

The goal of Perkins' plan was to help lure new lawyers to the firm's 3-year-old Chicago office. Currently, the office has 70 lawyers, but the firm expects to grow it as large as 200.

Could this strategy work for your firm?

Posted by Carolyn Elefant on June 29, 2007 at 02:40 PM | Permalink | Comments (0)

Could Video Resumes Violate Employment Law?

Ah, leave it to lawyers to put the kibbosh on what seems like a terrific way for law students and lawyers to stand out from the crowd when job hunting and marketing. As this blog post by Dave Lefkow of Director of Recruiting discusses, the legal profession's opinion of online video resumes hasn't been favorable.

According to this article from The National Law Journal, legal employers are cautioned to stay away from video recruiting. From the article:

If a video résumé comes across your computer, hit the delete button. That's the advice labor and employment attorneys are giving employers and human resources professionals about video résumés, the latest job-searching trend that has employers nationwide both intrigued — and scratching their heads. But lawyers are warning employers that video résumés can open a slew of discrimination claims.

One lawyer quoted in the article had this to say:

Cheryl Behymer, a partner at Atlanta's Fisher & Phillips, is advising employers to return video résumés with a request for a traditional résumé. "Just let them know, 'We don't use video,' " said Behymer, who strongly advises against opening up video résumés. "You're opening yourself up to a potential that someone could claim, 'Well, the reason I didn't get hired is because you could see my gray hair and you could see that I'm over 40.' "

Lefkow anticipates that law firms' attitudes toward video resumes might have a slipperly slope effect. He wonders whether law firms will start relying exclusively on phone interviews to avoid the legal hassles of meeting someone in person.

Moreover, even written resumes send signals of their own. Many employers scrutinize candidates' names to guess at race, year of graduation to determine age as well as clubs and activities (e.g., Hispanic Law Students Association or Lambda) to figure out race and sexual orientation. The point is that firms intent on discriminating will find a way to do it, whether based on a paper resume, a videotape or an in-person visit. So why cut off a potential recruiting mechanism that offers the positive benefits of viewing the person as a whole:  an individual with a gender, an age and a race but also an individual with personality and mannerisms that might make him or her a good fit for a firm?

Posted by Carolyn Elefant on June 29, 2007 at 02:34 PM | Permalink | Comments (0)


Saludos
Rodrigo González Fernández
Consultajuridicachile.blogspot.com
Renato Sánchez 3586
telefono: 5839786
santiago-chile
 
Escribanos, consultenos, opine

Thursday, June 28, 2007

Quick Links

Jun 27 - Jul 10

What's Hot
(Podcast with Transcript)
David Marshall: China's 'Wake-up Call' for American Real Estate

David G. Marshall, CEO of Amerimar Realty in Philadelphia, has made a career of seeking out bitter lemons and turning them into sweet -- and profitable -- lemonade. Through the years, he has taken over distressed properties -- such as The Rittenhouse in Philadelphia, Pier 39 in San Francisco and Denver Place in Colorado -- and made them into successful enterprises. Marshall recently went to Shanghai as part of the Wharton Fellows program and came to the conclusion that what is happening in Chinese real estate ought to be a wake-up call for the U.S. market. Knowledge@Wharton spoke to Marshall about his visit to China and other issues.

http://knowledge.wharton.upenn.edu/article/1766.cfm

Innovation and Entrepreneurship
(Podcast with Transcript)
Finding That 'Sweet Spot': A New Way to Drive Innovation

Larry Huston was vice president of knowledge and innovation for many years at Procter & Gamble. During that time, he was the architect of its Connect + Develop program, the creator of P&G's Brand Bootcamp operation, and innovation leader for the company's global fabric and homecare business, among other initiatives. He is now managing partner of 4INNO, and recently joined Wharton's Mack Center for Technological Innovation as a senior fellow. Knowledge@Wharton asked Huston to talk about innovation and its role in the global economy.
http://knowledge.wharton.upenn.edu/article/1765.cfm

Strategic Management
Many Family Firms Rely on a Largely Invisible CEO -- Chief Emotional Officer

When your family business involves an extended network of 52 family shareholders, as it does for Bukit Kiara Properties, a Malaysian real estate development firm, simply pulling everyone together for family dinner can be hard work. But N.K. Tong, who co-founded Bukit Kiara with his father, says there's just one person to call: "My auntie." Tong's aunt plays a role some scholars describe as "chief emotional officer," an informal position usually filled by a family member or close advisor. But the topic is not as warm and fuzzy as it sounds: Not only can the job be stressful, it can fall by the wayside as businesses are passed on to succeeding generations.
http://knowledge.wharton.upenn.edu/article/1760.cfm

Finance and Investment
'Getting the Models Right': How to Value Hard-to-Price Assets

Trying to determine what things are worth is a huge challenge in today's business world, where companies are increasingly being pressed to account for the changing values of complex financial instruments -- from insurance policies to employee stock options to exotic derivatives. Consequently, firms are turning to ever more intricate financial models that attempt to deduce values using an array of indicators, even though such models are complicated and can be easily manipulated. This dilemma was the topic of the Tenth Annual Wharton/Oliver Wyman Institute Risk Roundtable held on May 31-June 1.
http://knowledge.wharton.upenn.edu/article/1763.cfm

Health Economics
'Harry and Louise,' the Sequel? The Universal Health Care Debate Is Back

In 1993, a television ad featuring "Harry and Louise" -- a "typical" American couple dismayed by the Clinton administration's universal health care proposal -- helped to kill health care reform in the U.S. for the next decade. With the 2008 presidential election in sight, the debate has resurfaced, but are the prospects for universal health care any better today? In an ongoing study of health care systems spanning five countries, Arnold J. Rosoff, Wharton professor of legal studies and business ethics, has identified a set of factors that, in one combination or another, come into play when a country commits to adopting universal health care. This time, he says, one thing seems likely: Instead of a health care "revolution" in the U.S., change will come in increments.
http://knowledge.wharton.upenn.edu/article/1761.cfm

Marketing
To Increase Charitable Donations, Appeal to the Heart -- Not the Head

One pitch for charity described the needs of Rokia, a young girl in Africa who is desperately poor and faces starvation. Another pitch talks about food shortages affecting more than three million children, many of whom are homeless. Which pitch is more effective? Not surprisingly, it's the first, but Wharton marketing professor Deborah Small and two co-authors delve deeper into the issue of sympathy and how it relates to charitable giving. Their paper is titled, "Sympathy and Callousness: The Impact of Deliberative Thought on Donations to Identifiable and Statistical Victims."
http://knowledge.wharton.upenn.edu/article/1767.cfm

Leadership and Change
Good News about Bad Press: For Corporate Governance, Humiliation Pays Off

In 2000, Bill Browder, manager of The Hermitage Fund, sifted through reams of obscure Russian securities registration data to piece together a presentation outlining how managers of the Russian oil company Gazprom were shifting corporate assets to entities controlled by friends and relatives. Browder shared his findings with journalists who then wrote about the case, leading to the firing of the firm's CEO and subsequent reform. Hermitage's role in the Gazprom shake-up is the basis of new research exploring the role of public shame in corporate governance. The research was presented at a recent Wharton Impact Conference sponsored by the Weiss Center for International Financial Research.
http://knowledge.wharton.upenn.edu/article/1762.cfm

Leadership and Change
Turning Around the London Subway System: From Terrorism to the Olympics

The bombs rocked the London Underground within 50 seconds of each other near the end of rush hour on July 7, 2005, killing dozens of passengers and injuring hundreds more. It was the worst attack on London since World War II. But the majority of the Underground, or the Tube, as it's known locally, was operating again by the next morning, according to Tim O'Toole, the Underground's managing director and chief executive, who spoke at the recent 11th annual Wharton Leadership Conference. What made that possible, O'Toole said, was the response from the Underground's frontline employees, not just at the bomb sites, "but across the entire network."
http://knowledge.wharton.upenn.edu/article/1764.cfm

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Articles from Around the Network

Universia Knowledge@Wharton
Latin America Confronts the Strength of its Currencies

Latin American currencies have appreciated a great deal since the beginning of this year because of a strong influx of U.S. dollars into the region. The currencies that have performed the best this year are the Colombian peso -- which has risen 17% relative to the dollar -- and the Brazilian real, which has risen 10%. This hurts the region because products lose their competitiveness in the world market. The Mexican peso is the one exception: Its currency is losing strength due to the decline in remittances sent home by Mexican immigrants.
http://www.wharton.universia.net/index.cfm?fa=viewfeature&id=1369&language=english

India Knowledge@Wharton
Do Highly Educated Immigrant Entrepreneurs Help the U.S.
Maintain Its Edge?

Emma Lazarus's words at the base of the Statue of Liberty -- "Give me your tired, your poor, your huddled masses" -- are well known. According to new research by Vivek Wadhwa, executive-in-residence at Duke University, "highly educated" and "entrepreneurial" should be added to the list. Following a survey of 28,000 U.S. startups, Wadhwa and his coauthors found that a vast majority of immigrant entrepreneurs have strong educational backgrounds, especially in the so-called "STEM" areas (science, technology, engineering and mathematics). The U.S. depends on these immigrants "to maintain its global edge," the researchers argue, and that calls for a relaxation in U.S. immigration policy. Other experts who are familiar with the study aren't so sure.
http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4205

China Knowledge@Wharton
Private Equity Summit in Beijing: An Upbeat Affair, but Words of Caution as Well

At the Finance and High-Tech Industry Summit held on May 25th and 26th in Beijing, Chinese investment bankers, private equity fund managers, stock exchange reps and Chinese entrepreneurs debated the current state of private equity in China. The summit, organized by the China Beijing International Hi-Tech Expo, was an overtly upbeat affair -- not surprising, given the boom that China's PE sector is experiencing. Speakers specifically highlighted industries such as pharmaceuticals, petrochemicals and solar power as being ripe for PE attention.
http://knowledgeatwharton.com.cn/index.cfm?fa=viewfeature&articleid=1654&languageid=1
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