Disciplinary procedures to be tighterOn 1 Dec 2003 in Personnel Today Comments are closed. Previous Article Next Article Employers must tighten up their grievance and disciplinary procedures orface a rise in the levels of compensation handed out to employees by thecourts. Employment Tribunals will soon have the power to raise compensation awardsby as much as 10 or 15 per cent if they believe employers have not followed thecorrect procedure when disciplining staff. Stefan Martin, an employment partner at Allen and Overy, warned that firmscould face higher costs when the Government’s new Statutory DisciplinaryProcedures are implemented in October next year. Although the £50,000 cap will remain on the awards, Martin said more peoplecould receive the maximum amount if firms failed to follow the rules closely. “If the new process isn’t followed, the awards could increasesignificantly. Most employers will have disciplinary procedures in place, butthat doesn’t meanÊ they are being followed,” he said. Martin stressed the changes in the law could have a big impact on the waybusiness deals with discipline and urged employers to make sure managersfollowed the rules. Related posts:No related photos.
Analysts said the secondary sanctions may further deter European and other foreign banks from working with Iran, even for permitted humanitarian transactions.”It’s like a punch in the face to the Europeans, who have gone out of their way to indicate to the Americans that they view it as being extremely threatening to humanitarian assistance or humanitarian trade going to Iran,” said Elizabeth Rosenberg of the Center for a New American Security think tank.”They also want … to make it very difficult for any future president to be able to unwind these measures and engage in nuclear diplomacy,” Rosenberg added, alluding to the possibility that Democratic candidate Joe Biden could defeat Republican President Donald Trump in the Nov. 3 US election.Biden, who was vice president when the Obama administration negotiated the nuclear accord, has said he would rejoin the deal if Iran first resumed compliance with it.Tensions between Washington and Tehran have soared since Trump unilaterally withdrew in 2018 from the 2015 Iran nuclear deal struck by his predecessor and began re-imposing US sanctions that had been eased under the accord.The sanctions Trump has reinstated target everything from oil sales to shipping and financial activities. While they exempt food, medicine and other humanitarian supplies, many foreign banks are already deterred from doing business with the Islamic Republic – including for humanitarian deals.Washington’s latest move targeted what the Treasury described as 18 major Iranian banks, which were designated under authorities including US Executive Order 13902, which allows the Treasury Department to target entire sectors of the Iranian economy.It named them as Amin Investment Bank, Bank Keshavarzi Iran, Bank Maskan, Bank Refah Kargaran, Bank-e Shahr, Eghtesad Novin Bank, Gharzolhasaneh Resalat Bank, Hekmat Iranian Bank, Iran Zamin Bank, Karafarin Bank, Khavarmianeh Bank, Mehr Iran Credit Union Bank, Pasargad Bank, Saman Bank, Sarmayeh Bank, Tosee Taavon Bank, Tourism Bank and Islamic Regional Cooperation Bank.Topics : The United States on Thursday slapped fresh sanctions on Iran’s financial sector, targeting 18 banks in an effort to further choke off Iranian revenues as Washington ramps up pressure on Tehran weeks ahead of the US election.The move freezes any US assets of those blacklisted and generally bars Americans from dealing with them, while extending secondary sanctions to those who do business with them. This means foreign banks risk losing access to the US market and financial system.The Treasury Department said in a statement the prohibitions did not apply to transactions to sell agricultural commodities, food, medicine or medical devices to Iran, saying it understood the need for humanitarian goods. However, Iranian Foreign Minister Mohammad Javad Zarif accused the United States of targeting Iran’s ability to pay for basic necessities during the COVID-19 pandemic.”US regime wants to blow up our remaining channels to pay for food & medicine,” Zarif said on Twitter. “Conspiring to starve a population is a crime against humanity.”Iranian Central Bank governor Abdolnaser Hemmati dismissed the sanctions as political propaganda and played down their practical impact.”Rather than having any economic effect, the American move is for US domestic propaganda and political purposes, and shows the falsity of the human rights and humanitarian claims of US leaders,” Hemmati said in a statement.
Share Facebook Twitter Google + LinkedIn Pinterest By Jon Scheve, Superior Feed Ingredients, LLCThe President started tweeting about trying to work with China to end the trade war and the market rallied 30 cents. The next morning a White House advisor said there wasn’t much progress, but the market still closed the day positively. After the markets closed on that Friday, the President said there had been a lot of progress made with China trade. This topic will certainly excite the market leading up to the President meeting China’s leader at the end of November during the G-20 meeting. The differences between buying and selling corn callsBuying calls gives the buyer the right to buy grain at a certain price. There is a premium to be paid to own those calls. There is no margin call risk associated with buying a callSelling calls can force the seller to sell grain at a certain price. Those selling calls collect a premium up front for doing so. There can be margin call risk with selling a call option if the price rallies, but as a producer of grain I certainly hope the market does rally.Many farmers tend to buy calls. Analysts often discuss the “advantages” of doing this, suggesting it’s a great option for farmers because it allows them to sell their grain now and still take advantage of a futures rally.But buying corn calls usually doesn’t work out for my operation because it shifts my marketing strategy into speculating (a nice word for gambling). Speculating or gambling adds risk to my farm operation, which is something I always want to be minimizing. Why is buying a call gambling to me? Reason 1: Buying calls has terrible oddsThe chances of making money buying corn calls is about as likely as winning playing Keno, the game with the worst odds in a casino. When you buy calls you are buying time. The further out in time you buy a call, the more money it will cost you. Which means, the more you need the market to move higher. There are extremely smart people who have crunched the numbers using complex algorithms to determine exactly how much those calls are worth. So, I don’t think it’s wise to bet against these people and their computers. As time to expiration gets closer, the value of the call drops quickly. Reason 2: Buying calls doesn’t work well with market carryMarket carry is when futures further in time are worth more than current futures. Corn is usually in a carry.In a sideways market, like the last few years, it’s very difficult to be profitable buying calls, because the market doesn’t increase much in value. Instead, far out contracts lose value as time progresses, eventually working back to the current value. Reason 3: Futures value changes don’t correlate to call option value changesLet’s say that the market does increase between when someone buys a call and its expiration. The value of the option doesn’t change at the same rate in the beginning of a rally. Usually the futures value change compared to the value of the option is 3:1. This means if someone buys a call and futures increase 30 cents, the value of the call will only increase about 10 cents. Those 3:1 odds are not a very good return for my risk. Not only is it definite loss of the premium spent buying the call if the market is sideways or goes down, but, those buying a call would only benefit around 33% of the actual move of a market rally that is less than 50 cents.Many farmers have told me that they used to buy calls, but didn’t understand why they seldom made money over the long run. That might be because the only way to make money on calls is if the market moves a lot higher. There are two ways to lose money when buying calls and that is if the market goes nowhere or lower. There two situations where I would consider buying callsLargely I’m against buying calls for my farm operation. However, there are always exceptions to the rule.Protecting a sale BEFORE harvest from production issues if I’m over sold on my insured production levels.Inverse markets after harvest in which the nearby futures contract is higher than further out months in the same marketing year. This is not common in the corn market, but happens more frequently in the bean market. The difference between re-ownership and buying callsI think all farmers should have 100% on-farm storage to best maximize their grain marketing profit potential, but not all farmers do. Instead, many will store grain at commercial facilities hoping for a price rally. Instead of holding the grain and paying storage fees at these facilities, it often makes more sense to just sell the grain at harvest, and re-own the grain on paper. This avoids storage fees and allows farmers to wait for better prices.Straight up re-ownership with futures or buying calls are two different strategies. To me, it’s hedging versus speculating. The upside potential with re-ownership is much higher with futures than what options will provide as referenced with Reason 3 above. Yes there is more downside risk with owning futures, but I think that risk can be protected with other hedge strategies like put options or seasonal trades.As a producer I know I will always have more corn to sell in the future. In other words, I’m always long corn. If I buy calls, it gives me the right to buy corn at some point in the future. Since I know I will always have more corn, why would I ever want to buy more grain? When you buy a call you don’t actually buy corn, but the function of a long call option is to do exactly that. 2017 buying calls exampleLast November I heard an advisor suggest that farmers sell their grain in commercial storage when values were around $3.45 on the December and $3.75 on the July futures. This advisor suggested to re-own their grain with the purchase of a July $3.90 call for 15 cents.The market then rallied until late May hitting the season’s high on the July contract at $4.12, which meant July futures increased 37 cents ($3.75 – $4.12 = 37 cents) since buying the call. However, the value of the call only increased to a value of 24 cents during the same timeframe. If the farmer sold the call they had purchased for 15 cents when the futures price hit $4.12, they would have received a 9-cent profit (24 cent value – 15 cents cost of the call = 9 cents profit).So, in this example buying the call would resulted in 1-cent of profit for every 4 cents the market actually moved (9 cents versus 37 cents). And that’s if the farmer knew to sell the call at the very top of the market. I suspect that most farmers wouldn’t have been satisfied making only 9 cents of profit and would have held longer. The value of the calls were under the 15 cents paid for them three trading days after the market hit it’s high. For anyone who didn’t sell the call during those three days the trade would have been a loss. Three trading days after the market high the futures value was at $3.90 and it was another 10 days before the futures were trading below the values of the original trade at $3.75. It’s certainly not a guarantee that having the futures position would have made money either, but the potential was certainly greater to do so than for the buyer of the call. Losing on a call hurts twice as much as doing nothingHad a farmer sold $3.75 July futures and then held the call until it was worth nothing, the farmer didn’t get $3.75 for their corn, they really got $3.60 ($3.75 – .15 for the option). This trade ultimately could have added more misery to an already difficult year with prices below profitable levels.Many people like to buy calls because they are easy to understand and they can make people feel like they have a chance to hit a home run. But in marketing grain, I find simple isn’t always best for my operation.Buying calls has usually not been successful for my farm operation. Where I have had more success is selling those calls. Jon grew up raising corn and soybeans on a farm near Beatrice, NE. Upon graduation from The University of Nebraska in Lincoln, he became a grain merchandiser and has been trading corn, soybeans and other grains for the last 18 years, building relationships with end-users in the process. After successfully marketing his father’s grain and getting his MBA, 10 years ago he started helping farmer clients market their grain based upon his principals of farmer education, reducing risk, understanding storage potential and using basis strategy to maximize individual farm operation profits. A big believer in farmer education of futures trading, Jon writes a weekly commentary to farmers interested in learning more and growing their farm operations.Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Superior Feed Ingredients, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Superior Feed Ingredients, LLC does not warrant or guarantee the accuracy of such information or opinions. Superior Feed Ingredients, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results. He can be contacted at [email protected]
Looking to land more corporate clients for your video production projects? Consider learning the ins and outs of legal marketing.Cover image via AMCCorporate video is a well-covered subject on the PremiumBeat blog, as it’s a fantastic way for video pros to make money while honing their skills. One of the more lucrative spaces within the corporate video world is legal marketing. Law firms vary in size, but as a whole, they represent a huge industry in the United States and abroad.With increasing competition and the new age of digital distribution, legal marketing is becoming more of a focus for even the “stuffiest,” most traditional legal institutions. This means video production is fast becoming an in-demand service, which can be quite profitable.Let’s explore some of the types of video projects that exist in the field, as well as how you can distinguish yourself and your brand to land some remunerative clients.Landing Page FilmsImage via WordstreamLaw firms are built to be trustworthy and reliable. Of course, by their nature, they can also be very slow moving and conservative in terms of marketing, branding, and embracing new technologies. This is especially true for the larger firms that deal work with the largest of clients.However, even the giant institutions are finally coming around to the age of the internet, and, as such, are embracing their websites and web presences to a much larger degree. For video professionals, this can be a good thing.Most mainstream brands, which have been closer to the forefront of building their online footprints, have already done years of work in video projects. For law firms finally catching up to the curve, many are just now looking to define their video brands.A smart first step (which can result in years of additional projects) is to work with law firms to produce their brand identity or website landing page films.These are the videos which will appear on their website homepage, often used as a catch-all identity, recruitment, sales pitch video which leads a visitor into how to connect with the firm and learn more.If you can get your foot in the door to produce a landing page video for a firm, you can position yourself as the firm’s de-facto video producer of record to further define their brand and work on all additional video projects in the future.Client TestimonialsVideo via Crisp VideoLaw firms have also been less advertising and marketing-based in general because they traditionally rely more on personal relationships, recommendations, and word of mouth. If a firm services a person or client well, they are recommended and passed along to others.From a video production standpoint, this can be another lucrative avenue for work. Client testimonials are a great way to give these recommendations (or “testimonials”) a polished look, and the final product is incredible shareable.Award VideosAward videos are another path to working with major law firms, as the legal industry is known for honoring itself every year with different awards, recognitions, and lifetime achievement ceremonies. In the past, a quick slideshow may have sufficed, but modern award ceremonies most always include video tributes to honorees.Don’t think of these as “minor” projects with smaller budgets — think of them as perfect foot-in-the-door projects which can provide an inroad to legal marketing.They also usually all need to be uniquely produced and tailored to each individual and ceremony, which can be a steady stream of work year in and year out.Subject Matter ExplainersMany law firms (and solo practice lawyers) often focus on one main subject of expertise — intellectual property, family divorce, hail damage on cars, etc. In their crowded fields, they must work very hard to brand themselves as the “de-facto expert” on their subject matter.A great way for these lawyers or firms to show their expertise is by producing short, in-depth explainer films in which they offer practical advice on these subjects, while encouraging viewers to contact them for more specific counseling. These can be anything from subject background information, specific client examples, or animated explainer videos.How to Distinguish Your BrandImage via ShutterstockSo, how do you land these legal marketing gigs? Besides doing due diligence in terms of marketing yourself and reaching out to make connections, a good deal of work will need to go into making sure you’re the right person for the project. Here are some key elements you’ll need to define to distinguish your brand.Exude ProfessionalismImage via ShutterstockAbove all, working in legal marketing requires the utmost level of professionalism. If you still operate as a film student or indie startup, law firms are simply not going to give you the time of day. The major, established firms build their reputations on being the epitome of professionalism — it’s how they land those million-dollar retainers. Unless you reflect their professionalism, they won’t let you reflect theirs.“Presentable” Is KeyImage via ShutterstockLaw firms are (usually) not the most fashionable of places. In fact, they’re usually the opposite, as their conservative trustworthiness is reflected in the absence of flash or distraction. While working with lawyers and their clients, you do want to put them in their best light (literally and figuratively), but you will always want to keep everything (yourself included) as straight-laced and presentable as possible.Maintain ConfidentialityImage via Shutterstock A big tenet of the above-mentioned professionalism is a strict adherence to client confidentiality. Along with the external-facing video work, there are ample private and internal video projects in law firms that require 100% contractual confidentiality. Legal matters are not to be taken lightly — if you break confidentiality, you’ll be squarely in the crosshairs of the very people most equipped to notice such things.Have any other tips or tricks for video professionals in legal marketing? Let us know in the comments below.
Essential Reading! Get my 2nd book: The Lost Art of Closing “In The Lost Art of Closing, Anthony proves that the final commitment can actually be one of the easiest parts of the sales process—if you’ve set it up properly with other commitments that have to happen long before the close. The key is to lead customers through a series of necessary steps designed to prevent a purchase stall.” Buy Now Losing an opportunity is a form of negative feedback. Missing your number is a form of negative feedback too. Sometimes your performance review might include a component of negative feedback.No one likes negative feedback. I don’t like it, and you don’t like it. But negative feedback is a necessary component of improving your performance. The negative feedback you receive from any number of sources is an opportunity to learn from what you’re doing, an opportunity to make adjustments to what you’re doing in the future, and to produce better results.The Fast Track to ImprovementAs difficult as it might seem, embracing negative feedback as a learning opportunity is the fast track to improving your performance. As long as you’re emotionally intelligent enough to accept that feedback, to learn from it, and to make the necessary adjustments.When you lose an opportunity, it hurts. You want to believe it wasn’t your fault. You want to believe that it was the client who was at fault for not understanding the value you create. We want to believe that it’s your competitors that did something unfair by cutting their pricing. But when you lose, it’s another salesperson that wins that opportunity. Without accepting responsibility for the loss you can’t get better.A lost opportunity is a form of negative feedback. There’s a lesson in there for you somewhere.Missing You Number, Gaining an EducationMissing your number is another form of negative feedback. If what you’re presently doing isn’t going to produce the number, then you need to make the changes that will allow you to perform better and produce better results.Missing your number is another form of negative feedback. There is a lesson to be learned from missing your number, but you have to be willing to capture that lesson and you have to be willing to change.Now you know what doesn’t work. What do you need to change?Your Performance ReviewThere’s a reason of the top performers and any human endeavor have coaches. They can’t see their own swing. Your performance review may be based on numbers, but some component is going to be your sales managers opinion of what the obstacles to better performance are for you.As difficult as it is to accept negative feedback, an open heart and an open mind will give you the opportunity to look at what you’re doing through someone else’s eyes. It takes courage to acknowledge that your performance isn’t what it should be. It takes emotional intelligence to accept criticism from someone else. But negative feedback on your performance, whether it comes quarterly, annually, or even informally, can help you identify the changes you need to make in order to perform better.Negative feedback, as painful as it may be, is a learning opportunity. The more you open you are to the message it’s teaching you, the faster you will improve your performance.QuestionsWhat negative feedback have you received recently?What lesson did you derive from the negative feedback?What did you learn from the last opportunity you lost?What was your take away from missing your number the last time you missed it?How do you learn to accept a negative feedback without being reflexively defensive?
The United Way of Siouxland announced the recipients of their Funding Opportunity to Connect and Uplift Siouxland (FOCUS) grants and honored their top business supporters at their second annual Leadership Awards Luncheon in South Sioux City on Wednesday.The FOCUS program offers one-time grants between $20,000 and $50,000 to eligible Siouxland nonprofits to provide support to initiatives working to correct issues negatively impacting the community.Heartland Counseling Service’s South Sioux City Schools mental health counseling program and Siouxland Human Investment Partnership “Prime Age to Engage” kindergarten readiness effort each received a $30-thousand dollar grant.The Mercy Child Advocacy Center received over $21-thousand.United Way also recognized Barb Wingert of Women Aware as the Outstanding Services Professional of the year.Premier Bankcard, Baird Financial, the F and M Bank and Klinger Companies were also recognized for their business contributions to United Way.Photos courtesy Siouxland United Way
APTN National NewsA First Nations artist from Vancouver Island was shot dead by a police officer in Seattle, Wash., last August.The video of the shooting has now been released for an inquest slated for January.APTN National News reporter Tiar Wilson is on this story.
Patton International Limited – A government recognised export house, manufacturer and star exporter of steel conduit fittings, electrical hardware and EMT fittings serving the electrical trade needs of major OEM’s, has made inroads into the Mexican markets with its range of engineering products. The company has joined hands with Eaton Crouse Hinds – Mexico for supplying engineering products from its five sophisticated states of the art multi-locational plants in West Bengal. Also Read – Add new books to your shelfEaton Crouse Hinds group is ‘Fortune world’s most admired companies 2018′ recognised business conglomerate with interests in electrical sector, industrial sector comprising of aerospace, hydraulics, filtration etc.”This is a great leap forward for Patton,” says Sanjay Budhia, Managing Director who is just back from Mexico. Mexico is fast emerging as a major trade partner for India. Indo-Mexican trade of $5.82 billion in 2016 is reported 20 percent jump to $7.7 billion in FY18 and can touch $10 billion easily. Also Read – Over 2 hours screen time daily will make your kids impulsive”In the international market, JIT/ETA/OTD – Just in Time, Expected Time of Arrival and On-time Delivery is name of the game. It is imperative that quality products are delivered at a competitive cost and on the right time. Zero deviation from specifications is the norm of the day. Nowadays It is not customers’ expectations but mere requirements that one cannot supply even two days earlier or a day later than the precise and specified date of deliveries. To sustain and meet these challenges, it has become necessary for us to have our own full proof and fault-free backup supply chain logistic system in place. I am glad that they are satisfied with our capabilities and credibilities and considered Patton as their long-term trusted partner,” said Sanjay Budhia. Patton has rapidly increased its product portfolio with a diverse range of products for the electrical market in Canada, Germany, the US, and Middle East countries. The products are retail packaged with customer logo and made ready for the shelf. Patton products are certified to global standards such as Underwriters Laboratories (UL) and Canadian Standard Association (CSA). Factories are regularly audited by renowned agencies like Intertek for workplace health and safety and are also CTPAT compliant. This company currently employs around 2500 employees and has not lost a single man-day in strikes or Lockouts. PATTON group is the consecutive winner of Productivity Awards, FIE Award, recipient of National Export Excellence Awards.