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Depression 2008: India May Have Scaring 2009

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DEPRESSION TRICKLE IN US

It was 1977 when the Vietnam War ended and the GIs came home. They began taking out loans and spending some of their savings. At that time, in America, monetary inflation as a result of the war and the large amount of savings sloshing around in banks started creeping into the prices of tangible goods such as metals, food, and energy. Social Security benefits were rising at an annual pace of near 10%. The economy was affluent with liquidity.

In 1979, Paul Volcker stepped in as chairman of the Federal Reserve and realized that Americans should keep faith in the U.S. dollar to save the Federal Reserve, along with the fractional banking system of the United States, from collapse. He raised the rates to 20 % whereby the system became purged of excess liquidity, though as an unintended aftermath. This made mass bankruptcies to ensue. Short term lending dried and the economy ceased to function properly. However, complex investment derivatives and globalization postponed the inevitable situation. But, as an aftermath of globalization, big bulk of Dollar went to Chinese foreign exchange holdings because of massive trade deficit of America with China. This made a considerable dent on money supply in the economy. A huge amount of dollars went also into the reserves of oil exporting nations as well. A further contraction in liquidity, resulting in a scare, came about on account of the collapse of the dot.com bubble. However, the dollars which were initially going into foreign reserves, but eventually returned to the U.S. economy in the form of purchased U.S. treasuries. All the same, the net inflow of dollars remained negative and the gap went on being widened. To keep the economy moving forward, the money supply and loan base needed to grow at a faster rate than the rate at which liquidity was being contracting.

The members of the Federal Reserve understood that for this economy to move forward, something needed to be done, and they took serious action. They immediately began printing money at large and started slashing interest rates so as to make home loans to become more appealing. In addition thereto, exotic lending instruments became created in order to provide more loans to the already strapped consumer. Hence, the beginning of sub prime mortgages came about. This helped the economy run a little bit longer but how much longer? The problem of current account deficit running in the red persisted whereby dollars went on continuously to flowing out of the country. By and by, the economy went on advancing towards the point where it becomes unable to sell any of its debt and the consumers become unable to take further loan. Large number of loans started going bad and the banks became short of capital to make further loans. Ultimately the melting point became reached, the faith in US Dollar and US banking system collapsed and a deeply threatening recessive trend settled in the US economy. The bailout strategy and likewise monetary measures could not check the money going wrong way. Nor the trade enhancement efforts could prove fruitful to mitigate, to the required extent, the increasing dollar reserve holdings by other countries like China through currency manipulations based on their cheaply produced exports. The recessive trend of US economy stepped beyond national boundaries through international transactions and trapped almost all European countries. Thus, almost the whole Europe and America came in the ambit of the scaring economic turmoil called ‘The Depression 2008’.

DEPRESSION TRICKLE IN INDIA

On the other hand, Indian economy (like other developing countries) was still suffering from persistent inflationary pressure on account of heavy autonomous investment aiming to achieve increasing growth rate. The inflation rate touched a blatting height of 12.91 % in the week ending on 2nd of Aug. 2008, despite that the income distribution was highly unequal, the middleman profit margins were unjustifiably high and banks were enjoying sufficient saving deposits. There was being observed sufficient demand in market despite the prices were increasing on account of increasing costs of production due to illogically heavy payments to CEOs, MDs and other likewise personnel along with superfluously enormous expenditures on advertisements. There has been prevailing mass unemployment but the wages and salaries were increasing. This shows that the Indian economy was running in a paradoxical condition. Thus, only a small spark was needed to start the reverse gear to make Indian economy advancing towards the point of meltdown. Being exposed to the risks of trading with the depression stricken countries and the cheaply produced export manipulating countries like China, on account of globalization, the Indian economy ultimately got the spark which was though unwanted but symptomatically due. The prevailing inflationary pressure started being mitigated. The front line concerns observing price decrease started crying for help instead of finding cost reducing ways and means to cut the unnecessarily and illogically raged costs. The government and the RBI (Reserve Bank of India) mistakenly came to their help in haste and that too following the way of bailouts as inspired from US. A short detail of the measures taken by the government and RBI is as under.

(1) SBI declared cut in various banking rates (REPO rate, SLR, Reverse REPO rate, CRR etc.) on N0v.02, 2008 to provide extra capital of Rs 850 billion in market. Including all previous measures RBI provided total extra capital worth Rs 2750 billion in the market up to this declaration.

(2) The government declared on Nov. 18, 2008, Rs 500 billion to be invested by the Central Government with public-private partnership in infrastructure projects.

(3) SBI declared on Dec. 06, 2008, a special loan facility of Rs 110 billion to help housing and small industries.

(4) The government declared on Dec. 06, 2008, a budgetary help worth Rs 150 billion to infrastructure projects.

(5) The government declared on Dec. 07, 2008, a bailout package worth Rs 3000 billion to rescue the economy from depression grip.

(6) The government declared another economic package on Jan. 02, 2009 to remove slackness in the economy due to the world depression. In addition thereto RBI declared further cut in various banking rates that would bring about an increase worth Rs 200 billion in the liquidity in banking sector.

All the measures mentioned above could not prove fruitful in keeping the economy beyond the ambit of depression grip. Hence, Indian economy also, like US economy, went on slowing down making the remedial measures to slink. The inflation rate came down from 12.91 % in the week ending on Aug. 02, 2008, to 5.24 % in the week ending on Jan. 03, 2009. Thus, the average downfall in the inflation rate came out to be of 0.37 % per week (approximately) during the period of five months. Moreover, the trend of per-week downfall was found to be increasing. It was 0.44 % in the week ending on Nov. 22, 2008 and came to 0.67 % in the week ending on Jan. 03, 2009. The average per-week downfall in inflation rate was 0f 0.20 % within the period from Aug, 02 to Oct. 18, 2008. It came out to 0.44 % in the week ending on Nov. 22, 2008 and to 0.67 % in the week ending on Jan. 03, 2009. During the above said period of 22 weeks (approximately five months) the per-week downfall of 1.10 % was the maximum which came about in the week ending on Dec. 06, 2008.

The vehicle manufacturing sector became badly affected. The sale of passenger cars came 6.98 % down to 82105 cars in Dec. 2008 as compared to 88272 cars in Dec. 2007. The decrease in the sale of passenger vehicles came out to be 13.85 % as the sale remained 99352 vehicles in Dec. 2008 in comparison to 115334 vehicles in Dec. 2007. The sale of trucks and buses came 58.28 % down as it was 42961 vehicles in Dec.2007 and came down to 17920 vehicles in Dec 2008. Three wheelers also observed 28.98 % decrease in the sale as the sale was 26823 in Dec.2007 which came down to 19048 vehicles in Dec.2008. The aftermath of this downfall in the sale of automobiles resulted into both the direct and the indirect cuts in the prices of all automobiles. For example, price cut from Rs 125000 to Rs 200000 on Volvo trucks and from Rs 16000 to Rs 37000 on Eicher trucks, The prices of Hero Honda products have been lowered from Rs 1000 to Rs 2000, the prices of different products of Bajaj Auto stand lowered up to Rs 2100, Bajaj Auto also lowered the prices of its three wheeler products up to Rs 4400, General Motors India made a price cut on their different cars from Rs 8000 to Rs 16500 and Ford India lowered the price of its model ‘Fusion’ by Rs 18000, Fiesta from Rs 2100 to Rs 25000 and Endeavor from Rs 47000 to Rs 54000. Similarly, Maruti Suzuki started giving discount from Rs 15,000 to Rs 35,000 on its cars and Tata Motors gave relaxation on its cars from Rs 20,000 to Rs 30,000. Moreover, Hyundai Motor India Ltd. decided to sell its popular model, SANTRO GL (Solid) model, at 10 years old price of Rs 299000 along with giving relaxation worth Rs 15,773 in the form of free insurance and accessories in non-AC segment, worth Rs 26,000 on SANTRO GLS model and from Rs 7,000 to Rs 25,000 on GATZ, Accent and Verna models.

Some of manufacturing companies are exercising wage cut indirectly through short term block closers, cut in working hours or cut in week days. For example, Tata Motors observed fourth block-closer for three days in its heavy vehicles plant at Jamshedpur from 28th to 31st December 2008, TELCON (Tata Construction Equipment Co. Ltd.), a company with 60 % partnership of Tata observed a second block-closer in its Jamshedpur plant, within a period of one month, for three days from 25th to 27th of December 2008, Telco Construction Equipment Co. Ltd. (TELCON) observed a four days block-closer from 4th to 7th Dec. 2008 and ZF Steering, a vehicle ancillary company declared a second block-closers from Jan. 21st to 27th, having already observed the first one from Dec. 21st to 27th, 2008. On the other hand, Ashok Leyland observed five days week for two months.

Some companies have started to resort even to retrenchment of employees to some extent despite restrictive directions from the government. Retrenchment of 15000 temporary employees in the ancillary industries of Tata Motors, job loss for more than half of a million employees of depression stricken textile industry and discharge of 60 % workforce of manufacturing facilities of Volvo India are some of the examples.

GOVERNMENT RELUCTANCE

Despite the frequent news coming from media for last two weeks, regarding different concerns placing demand for and pleading further bailouts, the government seems to pay no heed to this issue and show reluctance to exercise another bailout in near future. I think the government has now come to understand that bailout is a weapon of no use to make the current turmoil good since it neither improves income distribution nor it checks the money going wrong ways. Companies intend to preserve their profits by making good the deficit in profit, caused on account of demand based price cut, through bailout proceeds and not through cost cutting, in its stead. They speak of increased cost but want not to accept that the rapid cost increase has come about not on account of raw material price increase and wage rate increase but due to the illogically, unjustifiably and arbitrarily enormous payments to advertisement agencies, the directors, CEOs and likewise personnel, on one hand, and due to irrelevant, unfair and unjust profit margins of middlemen or traders (some times even up to 10 times of the whole sale price), on the other hand.

SCARING 2009

However, the reason of the government silence may also be the coming end of the term of Congress Party’s government. If it is so and the depressive effects are being suppressed without undertaking legitimate and compatible measures of depression encountering, there will be a blatting invasion of austere depression on Indian economy after the due elections are completed. If so happens, the later half of 2009 will become very difficult and rather scaring for us since the Indian economy would be thrown into a sore predicament. If the condition of rapidly falling inflation rate, banking rates, stock market index etc. persisted, the under developed Indian economy may have more difficult to get through 2009, in comparison to the well developed US economy.

_______________________________________________

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Cheap Temporary Car Insurance-Backpacker Travel Insurance

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What is a backpacker travel insurance?

Backpacker travel insurance is not the same as annual holiday insurance, this is mistake many young travelers make when purchasing insurance. Annual holiday insurance is designed for your average holiday maker, who goes abroad a couple of times a year usually for a week or two at a time, and spends most of their time relaxing on the beach. This is very different to the habits of your average backpacker, if there is such a thing as an average backpacker. If you are planning on travelling for long periods of time annual holiday insurance usually doesn’t cover your stay out of the country for more than a few weeks at a time.

Backpacker travel insurance initially covers any travel period from a total of 90 days to a one year trip, with a pay as you go benefit enabling you to extend, as often as you want to, the duration of your travel insurance up to 18 months. Online Backpacker travel insurance will take care of you during your longer than usual travels, but will also give you the freedom to fill this time with exciting opportunities as you will automatically be covered for a huge range of hazardous sport that you may get the chance to try.

Hopefully it’ll be an adventure of a life time, but you’ll be visiting strange places where you may not even speak the language. Don’t worry, you’ll no more feel like a stranger in an unknown world. Find all your information on travel insurance online. Avail of trip cancellation insurance and holiday insurance. Other features include temporary car insurance, health insurance, medical insurance and prescription services.It’s wise to have a good choice for all backpackers and people backpacking around the world, whether you have taken a gap year and taking time out from your studies, business or just a holiday, vacations, working abroad or studying abroad as a student. Get special covers on adventurous sports, skiing, and providing protection for activities such as scuba diving, paragliding, bungee jumping and winter sports.

Baggage and Possessions Cover: Ensure that your policy protects your possession or you will be unable to claim any compensation for stolen or lost items. Your policy should also cover any administrative costs incurred in the event that your passport is stolen and needs to be reissued.

Emergency Medical Cover: This will provide financial cover for any costs you have to make in the event that you need medical attention.

Holiday Cancellation: If due to unforeseen circumstances you have to cancel your trip early, you will be compensated for any monies lost.

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Rescue and Repatriation: In the event of a medical emergency rescue, all your costs will paid by your insurer. This should include helicopter rescue.

Travel Delay: Compensation for any money lost due to a delayed departure, though this will often only be paid after you have been delayed for a set length of time outlined in the policy wording.

Always learn to verify the terms and conditions of any insurance. Carry out research online, always compare the Backpacker Travel Insurance insurance package rate and be aware of the fact that a cheap insurance is not the best one. Comparing different insurance packages is quite essential.

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Cheap Temporary Car Insurance

admin — Fri, 25 Mar 2011 19:16:53 +0000

How to find the cheapest van insurance

How to find the cheapest van insurance

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Home Page > Finance > Insurance > How to find the cheapest van insurance

How to find the cheapest van insurance

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Posted: Nov 08, 2010 |Comments: 0
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If you may be looking for cheap commercial car insurance protection, one of many most efficient procedures should be to go on-line to a comparison website. This’ll assist the thing is throughout the variety of quotes van insurance UK issuers can provide.

The net generally is wonderful resources when hunting for discounted cover. You can get specifics on request and begin to see the superb good deals available. It allows you to compare various quotes without difficulty. It can make sense to compare rather of only checking one UK van insurer in the time.

Why go on the net with the cheapest van insurance?

There are plenty of completely different approaches you could compare van insurance that you choose you would need, even when you only need temporary van insurance. Going to a web page committed to supplying quotes for van insurance is possibly the perfect way, enabling you to earn a choice on the click of a button.

The act of investing in reduced addresses health care insurance online couldn’t be simpler and easier. Web-sites committed to offering van insurance quotes and charges permit you to obtain the data you’ll need, which allows for you to ultimately come across one of the best offer out there within a subject of minutes. It also permits you to see your entire quotes so you possibly can be conscious of the offer that satisfies you as well as your needs.

Evaluating van insurance could not be less complicated. By comparing the quotes for commercial automobile cover, you possibly can be positive that you are seeing most of the possible choices obtainable for you. Phoning round UK van insurance service providers is known as an extended and drawn out system that can take hrs, and isn’t going to assure which you will get the very best cope accessible for your requirements. But over a comparison internet site you get to work out most of the quotes and you make the conclusion to the 1 that very best fits your wants.

Which is a simpler solution? Phoning circular call centres and hopping from site to site or inputting your details into only one, then sitting comfortably and getting through a fifty quotes once you compare van insurance. That is through a fifty quotes from just one single site, letting the thing is that the most effective deals obtainable.

Why compare price quotes for affordable addresses vans insurance protection on the web?

By evaluating quotes online, you might be having above fifty quotes enabling you to create a knowledgeable selection on decreased is comprised of vans insurance policy. We do the entire tricky operate, going to more than all key services and having what quote is accessible to you along with your business. We let the truth is the entire quotes so you can make an educated verdict on the features accessible. This in turn means that you possibly can have the choice of companies within mins of inputting your demands.

To compare van insurance you do not have to leave your personal computer. One can find several diverse van insurance comparison services that are on the net. There are also types of van insurance comparison web pages that will acquire the information you require from these web pages and provide it to a single destination in your case for making an informed decision and find low-cost contains vans insurance plan on-line quicker.

It does not subject which protect you’re right after over a comparison site – whether you are following momentary van insurance or cover for that coming year there are actually terrific packages in existence waiting to suit your needs. The web actually is the top solution for anyone shopping for your cheap van insurance.

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Ruby Genders -
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Darren Hiscox, Insurance Journalist
Helping you find the cheapest van insurance online in the UK
van-insurance-cheap.co.uk is one of the leading resources helping to find you the best deal possible for the lowest price commercial vehicle cover UK.
Discover the cheapest van insurance now and see how much you will save!

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Temporary Car Insurance Under 25-Asset Protection in the USA

admin — Wed, 23 Mar 2011 07:15:11 +0000

Asset Protection in the USA

Asset Protection in the USA

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Home Page > News and Society > Politics > Asset Protection in the USA

Asset Protection in the USA

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Introduction – When we surf through the web we see many entities selling American Trusts, Corporations and other structures that they consider to be asset protection strategies. These run the gamut of corporations in the states of Wyoming, Delaware or Nevada, trusts of various types in different jurisdictions and other structures all based in the USA.

What is wrong here is that nothing in the USA can protect you from an aggressive judge who feels your assets should be seized to satisfy some sort of debt or perceived debt. You are subject to the mercy of any Judge who may or may not be following the law. Now if the Judge over steps his bounds you are faced with paying massive legal bills to correct the situation in the appeals process. Your odds of winning an appeal are probably under 1%. Ask some of these law firms that do these asset protection structures what their rate per hour is going to be to try and protect your assets if they come under attack from a financial enemy of yours. Figure on rates starting at 5.00 per hour (very low) and going up to 50.00 per hour for a partner in a top–drawer law firm in the USA. Ouch.

So the point is judges do not always follow the law in this country therefore no asset protection structure is going to be very protective. Litigation in the USA is too prevalent and expensive to allow one to comfortably use this jurisdiction for asset protection. The legal expenses of defending the asset protection structure can wipe out your assets. If you locate your assets offshore the odds of ever having to defend them against a financial adversary are miniscule.

USA Private Detectives – Now we can talk about private detectives in America getting bank information, credit card information, phone records etc. Go look at the ads on the Internet and call these private detectives up, they even take credit cards. The credit card fraud perpetrators use these people to get dossiers on potential victims they are going to fleece through an identity theft scam, and they even use stolen credit cards to pay for the files for their next victims. They will get your bank statements, cell phone statements and bills, phone bills and records, credit reports, driving records, public records – just about anything you wish to pay for. Big law firms have retainer relationships with private detectives.

We can also go on to discuss identity theft from security violations perpetrated by private detectives concerning bank accounts, credit cards, public records. If you vest your Panama real estate in the name of an anonymous bearer share corporation how could that possibly help someone do an identity theft on you? If your bank accounts were covered by bank secrecy laws wouldn’t that help insulate you from identity theft? If your credit card came from a bank under bank secrecy laws wouldn’t that help protect you? Panama is a much safer place legally and practically.

Confiscation of Funds and Assets – Next problem is civil court ordered pre–trial confiscation of funds. This can happen in a civil matter such as divorce. Remember any judge on a Federal, State, County or City level can pretty much get at any asset located anywhere in the USA. Usually this is a temporary hold or confiscation pending some court date but could be permanent in theory and/or practice. They usually refer to these actions as liens, levies, seizures, garnishments, attachments, and even injunctive relief. The terms vary with the jurisdiction. In the USA some government agencies can confiscate funds without taking you to court, thus no trial, no being judged guilty by a court of your peers, no due process, no trial by judge etc.

There are other government agencies that would need to get a court order to confiscate your funds in a civil matter and other assets but the courts tend to listen hard to these agencies and usually give them what they want which is going to be your assets. There are no really anonymous corporations in the USA. There is no bank secrecy or privacy at all. There is really no secure way to protect your assets from confiscation from any judge for any reason the judge deems lawful in his or her opinion as a jurist. Sure you might be able to go to court later on after the confiscation and convince a judge to return all or some of your assets but with what funds are you going to pay for your legal defense since your bank accounts, real estate etc is now all frozen.

Now you have to convince a lawyer to take your case hoping he can get the judge to allow your money to be used to pay for your legal defense. These lawyers that want to confiscate your funds without you even getting to give any testimony don’t even want you to be able to pay for your defense. They will argue that they are so sure of winning it is a waste of money to let you use the funds to pay for a high–powered law firm. How can there be asset protection in this legal environment? The ONLY way to accomplish asset protection where the USA is concerned is to liquidate the assets and move the funds offshore where the money is placed in a corporate or foundation bank account, stock brokerage account or into real estate in Panama.

USA Civil Lawyers Methods – Let me explain what an Ex–Parte proceeding is to start off. It is a legal proceeding where one of the other parties is not present and probably does not even know such a proceeding is taking place, usually the defendant. Let us assume you “feel” you have a good case in a court of law against a person or corporation. You hire a reputable law firm and prepare a complaint with whatever evidence you may or may not have. Next you file a complaint but do not serve the complaint and at the same time file an emergency motion with the court for an Ex Parte hearing in the Judges chambers in private, before the other party even knows you are suing them. You basically tell the Judge that you feel you have an excellent chance of winning and you are most concerned that the defendant will attempt to flee with their assets when the lawsuit commences thus causing you irreparable harm in that the money damages you suffered will then never be recoverable from this alleged culprit who has never had a chance to say one word in his or her defense so far. You then ask the court to freeze the defendant’s bank accounts, real estate and other property of the defendant so the defendant cannot flee with the assets thus allowing you to recover your debt when the court rules in your favor, which you are so very sure, they will do. You of course post a bond to cover any damages in case you lose. This plays much better when you are using a large politically active law firm. Now it is going to be an unlikely event that you lose since your adversary now has all his money frozen so how is he or she going to pay for an adequate legal defense.

Essentially the victim (defendant) is suffering as if he were broke, all before he had a trial in court, and in this case even before he knew anyone is even suing him let alone having been convicted by a jury of his peers. Imagine you wake up one morning find all your bank accounts, stock brokerage accounts, and real estate all frozen by a court as a result of an ex–parte motion. Your cars, boats, planes have been towed away by the sheriff, all based on the allegations of some large rich corporation or plaintiff claiming you did something to them in a secret tribunal with the judge.

Secret tribunals are a very bad thing for asset protection. If the defendant argues that he needs the money for defense the plaintiff argues that it is going to be a waste of time and money to let the defendant blow money that should go to them on a legal defense, which will never prevail. They are arguing to prevent the fair trial by jury guarantees provided in the constitution and instead substituting in unconstitutional confiscation without due process and secret tribunals all of which are acceptable practices these days.

So now the defendant is essentially broke, how can he manage his business and retain adequate legal counsel? Mind you all of this happened without the defendant ever having a chance to defend himself in court. What if the plaintiff forged or falsified evidence against the defendant? This is one–tactic wealthy corporations and individuals employ against small business people that get in their way.

Don’t let your lawyer tell you this is rarely done. If it happens to you they will still insist it is rare. It is a common procedure in the USA just restricted to those who can afford to pay large law firms unscrupulous enough to do it. To your lawyer it may be rare because your lawyer doesn’t work in a firm with 750 other lawyers defending billion dollar conglomerates that routinely will spend a few million dollars on a legal case. Most of the Internet giants do this in their litigation; look up their court cases to see it happening. Government regulatory agencies have a very similar way of doing this in the court system as well. It operates slightly more openly but has the same effect – frozen assets before you get your day in court thus preventing you from operating your business and mounting a good legal defense since you have no money.

The Summary Judgment Scam – This is another one unscrupulous tactic lawyers use to get your assets away from you. They file a case in court and serve you. They wait the 20 or 30 days for you to respond. Assuming you respond with a denial or rebuttal against the claim they then file a summary judgment motion. The argument will be your defense is frivolous and you cannot possibly win and thus it is a waste of the courts time to allow this case to proceed to a full trial. It is a way to guarantee that you never win. They want the judge to summarily dismiss your counter claim if you filed one and summarily award the case to the plaintiff.

The more ethical use of this procedure is when the defendant is properly served and ignores the complaint. Thus the defendant is not fighting back so why have a full trial and waste the courts time and money. In a summary judgment you have no chance to confront witnesses against you, or be tried before a jury of your peers, not even a trail before a judge. No day in court for you. These summary judgment motions are nasty in that they in themselves are often unfounded and designed to make the defendant (you) spend money to defend against them. Sometimes in the course of a civil case there could be seven or eight summary judgment motions all of which are expensive to defend against. If the plaintiff decides to run up a legal bill by taking numerous depositions the defense could decide to ignore going to the depositions thinking these witnesses are basically irrelevant and thus saving money.

A dangerous game for sure but if the other side is taking depositions frivolously to run up a bill on both sides (common tactic) and one has limited funds you could still stay in the game by conserving funds and ignoring the depositions letting the plaintiff go to the depositions themselves. You could also ignore overly broad subpoenas served on the defendants or on witnesses. Rather than filing protective orders to restrict the discovery power of the plaintiff back to being on point you could elect to let them run wild on fishing trips to save money and you would still be alive in the lawsuit awaiting trial where you could win. The summary judgment motion cannot be ignored. To ignore it means an automatic loss for you. Technically if you had an ethical judge and you were defending yourself the judge would look at the summary judgment motion and protect your rights. While operating pro per (acting as your own attorney) may help spare you from a summary judgment your odds of winning at trial would be statistically extremely low, too low for wisdom.

Running Up the Legal Bill – Many lawyers practice this as an integral part of their practice in the USA. They bring the other side to their knees for a settlement by making the litigation very expensive. Forget the facts, the fight now becomes surviving the lawsuit long enough to make it to trial and thus pre–trial preparation is likely to suffer greatly. If you can’t keep paying the lawyers, you will not make it to trial (think summary judgment) and lose. The ways of them doing this are numerous. They must always appear to be legitimate in their quest for useful knowledge to help them make their case or the judge may award sanctions against them for filing frivolous motions (rarely ever awarded). The lawyers that practice this are expert at it since this is how they practice law. Below are some methodologies that are used to run up the legal bill for the other side. Of course these practices favor the one with the most money. Essentially with offshore asset protection we are reversing the game and making the plaintiff spend a big fortune if they want to chase your assets to Panama or Guatemala with little or no chance of success.

Excessive Discovery – All sorts of records are subpoenaed. Tons of witnesses are set for deposition. In one instance the large law firm set a witness for deposition every day for several months continuously, knowing it would shut down the small lawyers practice. He had to go to court and was fortunate enough to get the judge to limit the depositions to one per week but this dragged everything out much longer. All sorts of records are subpoenaed. This is to bait you to spend money limiting the discovery. All sorts of motions are made up. Some motions will have names never to be found in any law books. The large firms have databases of all sorts of motions they have gotten away with over the years.

Emergency Arbitration – This is a real gem. Here the plaintiff drags you and your expensive lawyers in to try to settle. Judges love this stuff since it can clear their calendar. If you are far from the court it can really run up your bill. Very wasteful way to get legal bills high.

Long Trials – Plaintiffs ask for many days for trial. This makes it harder to get on the calendar and drag things out longer so hopefully more discovery can take place, which means bigger legal bills. Courts have found ways to streamline litigation but lawyers have also found ways to get things perverted again so they can run up the legal bills.

Venue Shopping – Plaintiffs try to file their lawsuits in a jurisdiction that will be the most expensive for you to defend in or where they can have the best chance of winning due to prejudices based on the past rulings of the court. Courts and Judges do not like to reverse on themselves. There is even a way where they can file in a federal court for violation of state civil laws. Imagine that, sounds incredible to get a federal court to enforce a state law but have seen it done successfully. They do this to get a judgment that they can enforce anywhere in the USA and also to take advantage of the way the courts have ruled on sensitive issues in this district in the past. If you have to hire counsel thousands of miles away it gets expensive. Then add in all the travel time they can inconvenience you with like with their emergency arbitration, regular arbitration, and the 25 day trial itself for which your lawyer charges 00 to ,000 per trial day.

John Doe Lawsuits – Do you know what a John Doe lawsuit is? I will explain this unusual tool of legal chicanery that we know works in the USA.

Let us say you are a large billion dollar corporation and you feel you have been harmed in some way but are not able to identify the party or parties responsible for the tortuous act. Say someone has been violating copyright protected material of yours by distributing it for free or for gain. You file a lawsuit in Federal Court against John Does 1–99 stating that you will identify the actual defendants, as their identities are uncovered in the course of discovery. You send a law clerk down to the courthouse and he has the court clerk officially stamp the lawsuit and now this lawsuit is live. OK now you have the subpoena power of the federal court at your disposal and there is no opposing counsel to block your subpoenas and depositions. There is no opposing counsel because the people you are suing have no idea they are going to be sued and you are not yet sure who they are or if you can even sue them yet.

So you go about your merry way issuing subpoenas for bank accounts, phone records, stock brokerage accounts, insurance records, internet records (like every website they ever visited, all email sent – yes the big ISP’s there keep copies of all this forever), credit card bills, email accounts, etc. all very lawful USA subpoenas and the judge has no idea you are issuing these subpoenas unless he decides to read the files (not likely with no opposition) and there is no opposing counsel to fight to protect the privacy of the records on behalf of their client. The company receiving the subpoena has no obligation in the USA to let the customer (think phone, bank, credit card, credit bureaus, or internet records) know that a subpoena has been served on them requesting your records. They prefer not to tell you so they do not get caught up in a fight over the records and then they may have to retain their own lawyer and run up a bill.

If it is a lawful subpoena they can just submit to it and have no liability unless there is some sort of agreement in place to notify you or protect your privacy, which would be most rare. The lawyer might even take a few witness depositions to get the facts explained in more detail. The judge need not individually approve these subpoenas for them to be valid. Normally subpoena copies are sent to the opposing counsel who can make a motion to block or limit them called a protective order. Here with a John Doe lawsuit there is no opposing counsel to get in the way of the plaintiff who can run amuck using the power of the court to get all sorts of records violating the privacy of countless people without their knowledge.

What a great tool if you are an unscrupulous lawyer. By the way this tool could be used against you at any time to get your bank records, phone records, internet records, email copies, credit card bills etc all without your knowledge lawfully. This probably does not make you feel warm and mushy inside about having assets in the USA. So basically you don’t even need to sue a real person or corporation to get to use the subpoena power of the mighty US Federal Courts.

This works best in the Federal Courts by the way but could be applied to some state and local courts. Remember the entity being served with the subpoena like the bank or stock broker has no obligation to tell you the owner of the bank account that a subpoena was served on them for your records and they could even be ordered to keep their mouth shut so as to prevent flight with the assets. Another fine example of the sheer lack of privacy and asset protection laws in the USA whereby a stranger can examine your bank records based on a lawsuit with nobody.

If you haven’t thought of it consider what happens to your bank records after the opposing law firm has lawfully obtained them. Can they enter them as evidence into the lawsuit and thus make them public record? Sure. They enter them as evidence and file the copies of the bank records, phone bills, internet records like all your emails, every website the logs show you visited, credit card bills, stockbroker records all in the courthouse into the file. This file is a lawsuit against no one but still they got it into the public records where it could be picked up and put on the Internet, in newspapers etc. Once the information gets into the public domain anyone can use it lawfully, yes even law enforcement agencies for criminal prosecutions. Can they share this information with others? Good question to ask yourself now, not after something like this happens to you.

Defendants Fight Back – To illustrate the absurdity of their civil court system gone amuck we will site some unethical tactics that defendants use against the big law firms and Judges who favor the big firms.

Recusing the Judge – A recusal is a court action where you motion the judge to remove themselves for some reason usually pertaining to his bias or lack of objectivity (prejudicial) in the case. The motion must be presented to the judge at first. A judge will rarely recuse himself or herself. If they know one of the parties in their private life they would probably recuse themselves. Appellate courts are slow to reverse a judge who refuses to recuse himself unless there is overwhelming evidence. An example would be he was once married to one of the parties in the case. So if the big slick law firm got a judge for a reason then you can recuse the judge if you have grounds, which is rare.

What is done is the defendant files a lawsuit against the judge, which now gives objective grounds for a recusal and then asks the judge to recuse himself. The judge may get mad and try to get a summary judgment dismissing the case but then again you and the judge were still adversaries in a lawsuit and recusal is proper and if the judge refused the appellate court would probably grant the recusal.

Suing the Opposing Counsel – In this scenario one side starts personal lawsuits against the opposing counsel. This lets them take depositions and is mostly to harass the lawyers. Sometimes they even sue the wife and relatives of the lawyers. A dangerous and expensive game reserved for wealthy people but it does go on. This illustrates the actual absurdity of the court systems in that country.

Locking the Other Side Out From Decent Counsel – If you live in a small town this can work. Lets say it is a divorce case. Before filing for divorce go visit all the competent divorce lawyers in the city. Have a paid consultation with them to discuss the case. Explain some non–essential particulars to them and make sure you take notes at the meeting. Then when the other party to the divorce finds out they are being divorced they go out and look for a good lawyer and find out you have created a conflict of interest with all the experienced lawyers in the area. This drives them to go out of town. The out of town lawyer will generally as a rule do worse in court than a local lawyer who knows the judges and how they like to run their courtroom. Again another manifestation of a judicial system run out of control by aggressive lawyers.

USA Trusts and USA Corporations – I know one can argue that their USA trust or corporation is not responsible for personal debts and there are court cases to back this up. Then inquire as to how much money it is going to cost you to defend the asset protection strategy against aggressive collection lawyers who know just how to make it real expensive for you to defend against them so as to bring about a painfully expensive settlement. Unless you have many millions it will not be cost effective to fight. It is a legal jungle in the USA and we cannot see any daylight in trying to protect assets in the USA using any USA based vehicle including trusts, corporations, foundations etc.

USA Real Estate Asset Protection – We get calls constantly from people who want to change the title of real estate from their own name into the name of a Panama Corporation or Foundation to shelter the asset from litigation. This can be done but is probably not going to accomplish too much in terms of asset protection unless the other side is sloppy, careless and does not have much money to spend.

The lawyers pursuing you will be curious that you no longer own a house you live in that you used to own. They will find out about it from credit reports, public record checks, having private detectives talk to neighbors, and other means. Then they will ask you if you sold the house? If so where are the sale proceeds, where was the escrow etc. They will smell a rat and eventually will ask you questions in deposition and then go to the judge and ask the judge to set the transfer aside as a fraudulent transfer in that the property was not really sold it was just a straw man transaction to avoid creditors attaching the asset and also stick you with the additional legal expense they incurred setting the transaction aside. The judge may want to hear from the Panama Corporation before he sets the transfer aside but that isn’t going to do much good unless there is an actual escrow and real money changed hands and then they are going to ask you where the money you got from the sale is now.

The same thing would happen in the case of putting a mortgage on the property through a Panama Corporation. Where was the escrow? What did you do with the money, etc? Their plan would be to have the judge set the mortgage aside as fraudulent allowing the creditor to take the real estate away to satisfy a debt. If a piece of real estate never in your name was acquired through a Panama Corporation and paid for from Panama and your name never came up in any escrow etc then that would be hard for a collection attorney to associate with you and could be overlooked. The collection attorney could take your deposition and ask you questions about any and all assets you had if there is a judgment. This is post–judgment discovery and could occur in the form of interrogatories (written questions) about your assets including any assets transferred or sold in the last few months or sometimes they go back a year or longer depending on the state laws (they call this a look back period).

We never advocate lying as part of an asset protection strategy. This sort of lying is perjury, which is generally criminal so that is not a viable plan. They will ask about any corporations you own. If a structure can be created to let you survive the questioning without lying you would be ok. Not easily done and we are not going to get into this with someone inquiring on the phone or by email who is not a paid client even if they say things like “We are not going to pay you if we do not know what you are going to suggest we do”. Sorry we will remain non–responsive to such queries, which are reserved for paid clients only. The safest position is to liquidate real estate and move the funds to a safe jurisdiction. Hopefully, this is done before any court orders are issued.

USA Attorneys and Conflict of Interest – In the USA if you go to an attorney and ask them to help you shelter your assets offshore they are going to be unlikely to help you do it effectively or even take you as a client. Why?

First of all they do not understand the offshore world in all likelihood. The laws are different than what they are used to. Secondly they cannot operate offshore and must retain an offshore law firm in the jurisdiction they would need to operate in. This means they could get sued in the USA for something the offshore law firm did that the mutual client did not like. Thirdly if the client is evading a debt and the lawyer does a good job of protecting the assets he can be sued in the USA for assisting in a fraudulent conveyance. A fraudulent conveyance is an act whereby assets are removed from the reach of a creditor to avoid attachment.

What a creditor is, is ill defined in the USA. It could be adjudicated that there was a fraudulent conveyance even though there is no judgment or court order. The reasoning is you should have known that there was a likelihood of being sued or if you were sued it would be likely that you would lose. So even if you were in an active and costly legal defense and moved assets offshore it could be argued that you were doing so to fraudulently convey the assets out of the reach of the person that might one day be a creditor. Please note that not all movements of capital offshore are fraudulent conveyances. One can relocate their domicile offshore, one could buy real estate offshore, make investments offshore, start or buy a business offshore etc. The burden of proof should be on the plaintiff to prove that the movement of assets was to take the assets out of the reach of the creditor and if you could show other reasons why the funds were put into another jurisdiction then the case is far harder for the plaintiff to win and of course much more expensive. If it comes out in the debt recovery case that the lawyer assisted the client in moving assets offshore and then the lawyer is complicit and gets sued. Remember the lawyer most likely has malpractice insurance, which means he has deep pockets. Just getting sued means the malpractice carrier will minimally raise the rates on the lawyer or drop him, this is America and that is how things work there.

What the USA “asset protection” lawyer will most likely try to do is put the client into some sort of a superficial USA based asset protection structure. This will not be effective against many classes and types of financial adversaries. The lawyer gets to charge you legal fees and earn some money. If you wind up losing your assets in court the lawyer hides behind the decision of the court to take away your assets and thus avoids any liability or exposure. After people hear the features and benefits of these USA based asset protection structures they generally do not think to ask how much it would cost to defend the structure against an attack. They also do not ask what types of an attack can be effective against getting the assets in such a structure. The list is long. The USA lawyers will not appreciate such a discourse in that it starts to expose them to liability. You will hear things like each case has its own merits, etc. You are not going to hear anything with certainty. There are lawyers who specialize in busting trusts and asset protection structures in the USA. Sometimes it can be cheaper to settle with these lawyers versus drawn out fights using law firms who bill at 0 an hour and they know this and take advantage of it. The worst part of it is that nothing in the USA will keep your assets out of reach from snooping private detectives. Once assets can be tied to you then you become a target for trouble. Private detectives get nowhere in the offshore world.

Obstructing Justice Charges Against Your Lawyer – If your lawyer in the USA is representing you in some action where the plaintiff is a governmental agency (City, County, State or Federal) the lawyer could be charged with obstructing justice. If the case seems frivolous to the prosecutor and the judge who coincidentally get paid from the same employer, decide that the defendant really has no case and mounting a defense is just running up expenses and dragging things out then the lawyer representing you can be told that he is about to be charged with obstructing justice. The prosecutor could just outright so charge your lawyer if they desired to do so. This would mean the lawyer now has a conflict of interest with you and would have to step off the case. This would mean much greater legal expenses for you. Imagine trying to convince a lawyer to step in and represent you after this happened.

Offshore Asset Protection – In Panama and Guatemala lawyer games like those described above do not exist. Corporate and foundation assets belong to the corporation or foundation. Tagging on personal debts is extremely difficult to prove and there are tight statues of limitation concerning such fraudulent conveyances to defraud creditors (three years). USA lawyers cannot practice in Panama or Guatemala; they need to retain a local lawyer if they ever wanted to do anything in these countries. Government agencies from foreign countries have no levy, attachment or confiscatory powers in Panama or Guatemala. You and your assets are much safer in Panama or Guatemala.

-Aurelia Masterson, www.panamalaw.org

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Aurelia Masterson -
About the Author:

Aurelia Masterson is an associate of Panama Legal law firm (http://www.panamalaw.org). She has years of experience in the field and now shares her observations of current events, politics, and law with the Internet community. She can be contacted at: aurelia@panamalaw.org.

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Does Advertising Pay During Recession?

Does Advertising Pay During Recession?

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Does Advertising Pay During Recession?

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DOES ADVERTISING PAY DURING RECESSION?

Mrs. A.Bharathy

Research Scholar ( Dravidian University) &

Lecturer, Dept. of Management

Pondicherry University Community College , Pondicherry

Advertising it is said creates magic in the market place and on the other hand it bears the unfair burden of being directly linked to sales performance. Though it performs a multitude of functions from creation of awareness , to building brand comprehension, to enhancing band image, to boosting the morality of the workforce etc..This paper “Does advertising pay during recession?” deliberates on the much debated board room question especially during recession. A question that has been raised many times over the years by agencies and clients alike since the 1920′s “Does your company view advertising as an expense or an investment?” and “How have others succeeded during a soft economy?” This paper brings to fore through an in depth analysis of the past and present data to augment the credibility of using advertising as a tool for reaching out to one’s target market during recession or not.

Advertising the magic wand in the market place is important for brand building and its successful marketing. It is important for tangible products like mobile phones, refrigerators , television and computers. It is equally important for services like hotels, holiday resorts , airlines and even state tourism .The same is true for ideas and causes. All marketers want consumers to buy their brand. Firms advertise with just this objective in mind .But it is here that one has to remember “Isn’t it not an unfair burden on advertising?” when the final sale is dependent on many other factors and there is no direct relationship between the firm’s sales and advertising expenditure. This is in contrast to distribution and personal selling or even customer service , where one can establish a direct relationship between any of them and sales.

Hence the role of advertising is limited to awareness creation or providing information and favourable attitude development to say so. While its role is limited, the marketer has to compare the costs of different elements of his /her communication mix. One yardstick is cost per thousand of people. This is lowest in advertising. However, we must bear in mind that people are generally biased against advertising and many still believe it is a waste of organizational resources , particularly in a country like India. The very concept of advertising is highly debated even in normal economic circumstances , say

“Money spent on advertising is a waste!”

“Advertising is an economical waste!”

“Advertising misleads consumers!”

So it is very natural that companies feeling the heat of reduced revenues and eroding net worth during recession , one of the first things that CEO’s decide to ” Save Money” is to put forth their axe on the advertising budget. Now this primarily depends upon whether the company views advertising as an expense or an investment?

THE KEY ISSUES AND OPPORTUNITIES

The question of advertising during a recession is one that has been asked many times over many years. Interestingly, the answer still does not seem clear enough to marketers.

The answer to the question is that advertising during a recession provides a unique window of opportunity for investment purposes to:

1) Build equity;

2) solidify your customer base;

3) Gain new customers; and

4) Make inroads on your competitors who have cut their advertising during the recession period. This window of opportunity is created by the understanding that advertising is an investment, not an expense.

However, it is easily understood why many people do not view advertising as an investment, but treat it as an expense. It is because advertising frequently does not represent a fixed cost, like capital expenditures, which are investments. Given the above stated opportunities it is logical to deduce that advertising in times of recession should not be axed.

ADVERTISING DURING RECESSION IS NOT AN OPTION

These are challenging times for businesses. Many local operations — big and small — are struggling to face the difficult losses sustained during this year. And companies everywhere are faced with tight budgets and tough decisions. Small retail stores are struggling to stock their shelves, meet the cost-cutting tactics of competitors, and draw in now-frugal consumers whose purchases they scrutinize more so now than ever. But the reality stands that everyone still needs petrol for his or her cars. Families need to eat. Children returning to schools need clothes and supplies. And, people still need supplies from light bulbs to gardening tools. Businesses, large and small, who sit back and weather the storm with the belief that, once the economy picks up, so will business are missing out on tremendous opportunities. Companies must show the consumer that they are stable enough to withstand hard times. Now is the time for smart companies to seize market share and position themselves to lead the inevitable economic turnaround. Business owners must remember what it was like to start a new business, gain name recognition and entice customers. Withdrawing from the public until the economy picks up and cash-flow increases will mean having to reinvent the company all over again. A cost that will weigh far more than a few quarters with lower than average profits.

PESSIMISM OF ADVERTISING DURING RECESSION

The three most commonly believed myths for not advertising during a recession are:

“People don’t buy much during recession , so our advertising would be wasted”;

” All the companies are reducing their advertising budgets and hence the competition doesn’t demand doing so much of advertising”; and

“The money saved on advertising helps us to pay dividends to stockholders.”

Myth 1 :” People don’t buy much during recession , so our advertising would be wasted”. Wrong – People don’t buy much during recession and hence we should do more aggressive advertising to get people to buy .The pessimism among advertisers is mainly a myth, hardly warranted by facts. Also some of the recent studies have shown that recessions have only about 2% reduction in people’s disposable income but despite that people tend to sit back and maintain liquidity .For eg: Study done by McGraw-Hill’s showed that a 13 page advertising during recession increased company’s recognition from 32 to 45%. For 1980-85 recession all those companies which did not reduce their advertising budgets increased sales by 16 to 80% & most important was the fact that the increase in sales was not a temporary thing but permanent.

Myth 2: ” All the companies are reducing their advertising budgets and hence the competition doesn’t demand doing so much of advertising”. Wrong – This is just the right time for you to take charge and go one up against your competition and so if your competition is not doing advertising during recession – you have an opportunity to bring about a dramatic improvement in market position. for eg: In 1975 GM and Ford used two different strategies and where GM kept with the same budget and Ford reduced budgets – so while GM increased the sales and Ford’s sales went down by 14%.

Myth 3: “The money saved on advertising helps us to pay dividends to stockholders.” Wrong -attempting to regain a favorable position lost during a recession costs more in the long run than to retain it by continuing to advertise. There is likely to be a fast erosion of the consumer franchise that the advertiser has taken years, even decades, to build. It is near impossible to regain the old customers once they have adopted competitive brands. And, of course, firms can more readily explain a drop in dividends if the money was used as an investment to protect market share.

Now this leaves behind a question “wouldn’t continuing or increasing advertising budget during recession isn’t by itself a mechanism of controlling the recession.

HOLDING /INCREASING ADVERTISING BUDGET FOR BETTER PAYOFF

In spite of the clutter, great advertisements have broken the clutter and have worked wonders to build brands and their market shares during recession / slowdown. Some of the examples are interesting.

Vodafone’s series of Zu Zu commercials released during the second IPL-20 cricket matches in South Africa were so much a hot favourite among the viewers that the man of the series trophy must have been given to it. Ariel’s advertisement series featuring Madhavan and Vidhya Balan very well communicated the various services provided by it to the consumers. This went a long way in brand recall and increasing its sales in the Indian market in spite of recession.

Though Online Travel and Finance categories saw a slowdown, there was an upsurge from Insurance clients. Even in the recession, insurance companies – Bharti AXA, ICICI Prudential, Metlife – stepped up their advertising. Also, new categories emerged in the recession – Auto became more active and increased their spends . The overall spends, despite the recession, went up in India in year 2008. Education is a category that was stable and growing, consumer electronics grew with Nokia spending significant marketing dollars online.

Another example is General Motors’ Chevrolet division, which faced mounting inventories in 1975 due to the recession and high fuel prices. The company abandoned its traditional practice of setting its advertising expenditures as a fixed percentage of sales. While volume fell 10 percent because of the economic slowdown, Chevrolet maintained its ad budget and actually increased advertising for its fuel-saving economy models. Ford Motor Company, on the other hand, slashed advertising by 14 percent in an attempt to shore up profits. That may have achieved its goal, but it permitted Chevrolet to increase its market share by 2 percent.

According to ADEX (a division of TAM media research) an overview of the ad spends in our country in 2008 indicates

26 per cent rise in TV ad volumes during 2008* compared to same period in 2007.
‘Food & Beverages’ was the Top sector in TV advertising during 2008*.
‘Cellular Phone Service’ category had maximum TV ad volumes during 2008*.
‘HUL’ maintained its first rank in both the years 2008* and 2007.

Data for 2008* available till 27th Dec ’08

During 2008*, TV advertising has recorded growth of 26 per cent compared to 2007.
Cellular Phone Service’, ‘Social Advertisements’, ‘Toilet Soaps’ and ‘Cars/Jeep’ categories maintained their respective ranks in 2008* and 2007.

Other companies across the globe that have taken advantage of advertising during a recession to establish strong market positions while developing brand equity include such diverse company names as Bristol Myers, Campbell Soup, Coca-cola, Gillette, Pillsbury, Apollo Hospitals, Paramount Airways, Procter and Gamble, R.J. Reynolds, Rubbermaid, Levi Strauss, Stroh Brewery, United Airlines and Welsh Foods-among others.

ADVERTISING DURING RECESSION

Statistics from the past US recessions show that it is short . On an average , they are mild. During a recession GNP typically declines by about 3%. The exception of course is the unusually severe 1973 to 1975 recession , when the GNP declined by 4.3 %.Further we see that recessions are selective. Recessions impact some industries, products and regions of the country hard and bypass others entirely. Studies reveal that among the industries and products most affected are: automobiles, home furnishings, large appliances, travel and airlines, convenience foods, aluminum, steel, petrochemicals and synthetic fibers. Relatively unaffected are: liquor and wine, tobacco, small appliances, packaged goods, computer and service industries.

It is here that one should ponder on the bird strategy , just as a high flying bird, however high it flies, comes down to rest for a while before it begins to fly high again , so also recession is just a phase in the economic cycle of the world. In this present scenario of recession 2008 going on as depression 2009 many of the business houses are strategising on measures like cost cutting , downsizing , revamping business on core competency and the like – cutting down one’s advertising budget seems to be in top priority in the wish list of many a corporate.But actual studies confirm that advertising aggressively during recession not only increases sales but increases profits. As Sir John Hegarty , Chairman and Worldwide Creative Director , Bartle Bogley Hegarty says “ Recession is good for advertising” . However the key ingredient for advertising success in recessionary times would be:

“Thinking has to be inventive , especially when the going gets tough” as

Dabur’s Sitaram says if we keep our ad spends intact in this time and keep coming out with innovations we can gain the market share. Their strategy is to deliver value and create delight.

“Select the most compelling offers and advertising must bring them to center stage in the most persuasive, inviting and memorable ways”

Sandeep Singh , Deputy Managing Director , Toyota Kirloskar Motor , says getting in direct touch with the customers and offering them special prizes on a new car coupled with innovative awareness campaign.

“The way for companies to maintain their market share is simple: to advertise”

Take, for example, the real estate and development industry. Despite a decrease in revenue, The Ritz Carlton continues to rise, realtors continue to show property , Why? Because these businesses continue to advertise. Construction is beginning to pick up, the availability and need for owner occupied homes has not waned.

So finally we can say that advertising does pay during recession but in selecting advertising, you can ask yourself two key questions: Does it say the right, bright thing about the product, service or offer? Does it say it in the right, bright way — in words and pictures that feature the product, instead of subordinate the product, and that are appropriate to the brand?

You must also, of course, run the advertising with the right, bright media plan, so you can reach your target audience in the most effective and cost-effective ways. When you have such advertising, your clients can invest in it with the knowledge that it is far more likely to succeed. In fact, the clients can know that their advertising is doing as much for them as advertising can do. Why? Once the advertising is saying the right thing in the right way in the right places, you’ve done everything you can to maximize its effect.

As this is the time to be aggressive and not do what many business people do , which is the fastest and easiest route to cutting overhead by slashing their advertising budget. These advertising secrets are especially valuable in tough times — and extraordinarily profitable in good times. As I emphasis ” recession is good for advertising”

References:

“Advertisement an expense or an investment” ,www.yourstory.in, article by Manik Kinra , CEO , Creadivity
“Recession is good for advertising”, The Hindu Businessline , on 16 April 2009 , article by Sir John Hegarty , Chairman and worldwide Creative Director , Bartle Bogley Hegarty
“Business News” , July 2009 , in Nanayam Vikatan
“Marketing in a slow down” , The Economic Times, 19 February 2009 , article by Vinay Kamath et al
“The Secrets of Successful Creative Advertising.” Book written by Tom Attea
“Advertising management” book written by Novee , Bovel , Thill and Wood
Adex India (A division of TAM Media Research)
“Smart marketing in times of slowdown”, The Economic Times, 25 November 2008 , article by Amit Sharma & Reshmi R Dasgupta

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A.Bharathy -
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Mrs. A.Bharathy

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Lecturer, Dept. of Management

Pondicherry University Community College , Pondicherry

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Mrs. A.Bharathy

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Pondicherry University Community College , Pondicherry

Cheap Temporary Car Insurance-One Day Insurance Car – Ways To Discover One

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One Day Insurance Car – Ways To Discover One

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One Day Insurance Car – Ways To Discover One

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Are you thinking of going on an extended journey? But, speculate how one can safely and easily drive all the distance on your own? You could have one other car driver with you, and so they may perhaps take over driving in the event you feel fatigued. If that’s a choice you are looking at you might consider getting 1 day car insurance to guard your automobile and yourself, whilst it is being driven by another person. It could be you wish to test drive a automobile, well again one day car insurance will present protection whilst you do your test-drive. One of these short term vehicle insurance means you may drive somebody else’s car, or indeed someone else can drive your auto, and have inclusive safety whilst doing so.

One day car insurance policies are intended to fulfill the short-term and immediate necessities of the motorists in the UK. These insurance cover policies usually hold a protection starting from one to twenty eight days. The cover is for motor vehicle accident, fire, theft or different damages suffered on the vehicle. The legal obligations of those incidents and third party claims, if any, also fall under the umbrella of the single-day or one day car insurance policies. Reading the terms and conditions related to these policies is important so you are aware of any exclusions.

Till a couple of years ago, you most likely never heard of one day car insurance or temporary auto insurance for that matter. A automobile on the highway was supposed to be insured by the holder of the car and there were no cover related issues for the individual taking a car on hire or borrowing the car from a buddy. However with cut throat rivalry coming in the industry, the cover firms are providing short term and temporary vehicle cover facilities to the users of the automobile. Insurance is now moving its basis from being the possessors prerogative to being a driver’s prerogative. So much so, that in the event you prepare to take a vehicle on lease from a automobile rent company or use your buddy’s vehicle for a day, you can also go in for one day vehicle cover policy.

There are a precise set of minimum necessities before you can consider organising 1 day car insurance cover. These consist of, you must be twenty one or over (minimal age may be dependent on the car). You should not have had any driving offences relating to drugs or alcohol in the preceding three years. If you have any offences regarding reckless or dangerous driving then you would not be considered. Additionally if you have had any kind of disqualifications within the previous 3 years or have nine or more penalty points, then you won’t be provided this sort of short time period insurance cover. The principles are there as the insurance cover firms don’t like risk. So when you need one off one day car insurance, as long as you’re a regular, non-dangerous driver then you may get the policy you might need.

You can start off your pursuit right now for 1 day insurance car and temporary car insurance under 21 recommendation by visiting our site Cheap Car Insurance R Us.

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Compare free car insurance quotes online in the UK and save money on your next insurance policy.

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I was rear-ended by a car following too close in Florida. An occupant in my car is claiming a neck injury. Does she file with her own insurer, the at fault insurer, or my insurance company?

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Cheap Temporary Car Insurance-Temporary Insurance Car – The Best Way To Get Hold Of It

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Temporary Insurance Car – The Best Way To Get Hold Of It

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Temporary Insurance Car – The Best Way To Get Hold Of It

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Temporary car insurance is a type of short-term cover out there to anyone with a typical driving licence or to anyone with a full driving license, whether within the United Kingdom or anyplace else in Europe. Some temporary motor insurance cover packages might cover leased vehicles like removal vans or rental autos. Obtaining temporary cover is the perfect course if family and friends have a loan of your auto for any purpose, or if you want to use a automobile that’s not your own. All comprehensive temporary car insurance insurance policies carry unintentional damage, fire and theft coverage as identified on the policy schedule. Temporary insurance policies also have a limit of indemnity in respect of loss or harm to the vehicle of up to £40000. You will find also add-ons such as travel insurance cover in Europe, breakdown support and additional assistance in case of an an accident above and beyond your control takes place. With any such cover you’ll be able to drive another automobile secure in the knowledge that you’re protected for any occurrence, the peace of mind that offers shouldn’t be taken for granted.

The level of coverage of temporary car insurance may fluctuate from one insurance company to another and the price of premiums to be paid, will definitely differ. Usually, the higher your payment is, the more complete the insurance cover is. No matter what reason you require temporary car insurance or for what length of time you want it, you should never take a chance by driving with out some type of temporary vehicle cover. Due to its low cost and flexibility, you haven’t any excuse to not have it. Because the hassles of driving without insurance are so monumental, ensure you get a policy that will back you up during any unimaginable situation. Some insurance providers will assist you to organise temporary car insurance as much as thirty days upfront of you requiring it. Which means you can get the insurance cover in place and not worry about it when you are actually driving the auto.

Getting temporary car insurance in truth could not be simpler. A quick search online provides you with a tremendous amount of insurance companies who take care of this kind of insurance policy. All you need to do is weigh against the costs and the level of cover every company offers. After that it’s a easy matter of making the selection primarily based on what you need. Temporary car insurance is a comparatively new addition to the lines of insurance, nevertheless insurance providers have recognised there is a want for such cover and have quickly provided cover in view of that. This temporary cover is fast, simple and pain free to arrange, you needn’t provide loads of thorough data to the insurance company, they just want primary details for example registration number of the automobile and what length of time you need the temporary policy to last. There’s completely zero point in risking driving a a car with no insurance cover, however minor a timeframe your talking about. Especially provided that temporary car insurance is extremely inexpensive.

You could start off your search right now for temporary car insurance comparison and cheap 1 day car insurance assistance by dropping in on our site Cheap Car Insurance R Us.

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Davis Warhurst has been working in the car insurance sector for nearly 3 years and provides valuable information and tips at the website http://cheapcarinsurancerus.co.uk on how to save money on car insurance.

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Borrowing a friends car? Need insurance for just a day! A one day car insurance policy is the ticket for you in this case. Purchase it online in minutes and be fully covered.

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Auto Insurance and Registration Q&A

A coupé insurance sound out??
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autofaql

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A Guide to Temporary Car Insurance

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Daily Insurance Know More about It!

Are you facing an urgent requirement and need to borrow a car from your friend or relative? If yes, then it is advisable you opt for daily insurance. This is a short term cover that can be paid easily.

Benefits of Day Car Insurance!

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If you are a traveller who needs to undertake a journey for a day, you can benefit from day car insurance. This type of insurance cover is meant for people who are planning to travel for a day.

Police Car Auctions-Police Car Auctions Download

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And do you still worry that you’ve got to waste a whole lot time to look for a appropriate car? Please do not be concerned. The web is your doorway to acquiring an reasonably priced vehicle with out throwing away loads of time.

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Different Uses for Number Plates

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When the Fuel Guage Gets You Down

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Discount Tire Locations – What Is The Cost of Air?

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Williaml
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Mar 12, 2011

Chauffeur service- some facts to consider

When you are to travel a lot or are to host someone you can simply go for the Chauffeur service. The good chauffer service provider can help you travel in luxury through executive class cars and make a great impression of your personality.

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Mar 12, 2011

Get Accessibility to Valuable Packing Ideas by State Broad Relocation

Shifting is labeled into numerous groups primarily based primarily on the distinct qualities. The approach of categorizing is practically widespread for each single shifting organization. Migrating from one particular state to 1 a lot more is not like shifting across the street. A range of concerns and problems might hinder and delay the shifting process, as a consequence starting to be tiny adaptable with the moving date is sensible a determination. There are a range of shifting pr…

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Mar 12, 2011

Several reports about colantari auto

Valentine 1 scans 360 degrees around your automobile and precisely locates every radar threat exclusively detecting all radar bands. The Valentine Stealth Program is custom installed within the rearview mirror which makes it stealthy and eliminates the unsightly dash connection which can be an eyesore or even a hazard in an unsuspected crash.

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WillianSarel
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Mar 12, 2011

The Free Career Test-Thefreecar Review

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Mar 12, 2011

The Cheapest Young Driver Insurance – Tips On How To Find It

Young driver car insurance is one of those sorts of insurance which depends upon whom the driver is going to be. The premium varies in line with the prediction of chances of that driver being involved in an accident, which is solely based mostly on historical data from the past. Sometimes, it additionally is determined by the vehicle that will be insured.

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Davis Warhurstl
Automotivel
Jan 09, 2011

1 Day Car Insurance Cheap – How One Can Find It

Getting an insurance policy cover for a brief period ranging from one to twenty eight days is made very easy. A average cover premium can be reduced and made more affordable for those who go for a comprehensive one day car insurance coverage policy. The shorter length of cover will ensure you have got adequate safety at the same time as driving someone else’s car, so should you be involved in an accident, bump or smash, you can be compensated through the insurance cover company.

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Davis Warhurstl
Automotivel
Dec 27, 2010

Ladies Car Insurance – A Way To Discover One

Is there such a thing as low cost lady car insurance, ladys car insurance? You’d be surprised that there are a number of firms on the market specializing in cheap ladies car insurance, ladies car insurance quotes. Don’t just take my word for it – carry on reading to find out how you will discover car insurance that’s specially priced for ladies and younger females. It does exist and you could find it if you happen to be a woman in search of lower rate insurance for your car.

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Davis Warhurstl
Automotivel
Dec 22, 2010

e Car Insurance UK – Learn How To Find It

Okay, what is ecar insurance I hear you asking your self? Well it is not electrical auto insurance or emotional car insurance cover, its online vehicle insurance cover. So shouldn’t that be ocar insurance then? Well sure it might be, but what the heck, ecar insurance is what you may have been ready for, as it is going to save you money on your automotive insurance quotes.

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Davis Warhurstl
Automotivel
Dec 14, 2010

Young Driver Insurance UK – Easy Methods To Get Hold Of It

If you don’t know what you’re doing, chances are high that you are over-paying for your young drivers insurance cover, and not getting the cheapest car insurance for young drivers. Teens and other young adults typically pay out the highest insurance cover premiums among all groups of drivers. Fortunately it does not have to stay this way. Getting the cheapest car insurance for young drivers may be quite a daunting experience. The whole process of obtaining sufficient insurance protection for th

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Davis Warhurstl
Automotivel
Nov 20, 2010

Cheap Car Insurance For Woman – Why You Should Obtain It

Is it feasible to get cheap car insurance for women? You bet it is, contrary to popular perception women aren’t ‘better’ drivers. Nevertheless there’s no escaping it – ladies typically make less, high-priced insurance cover claims. Claims by women drivers tend to be for minor scrapes and bumps as opposed to pricey write offs. Plus, statistics say, women car drivers have considerably lower mileage than their male counterparts. The lower your yearly mileage, the more affordable your car insurance

By:
Davis Warhurstl
Automotivel
Nov 18, 2010

Cheap Car Insurance For New Drivers – Why You Should Acquire One

The majority of newly passed drivers all have one thing in common, and that’s the high price they’ve paid for car insurance. Car insurance firms perceive new drivers as high risk and accordingly they often charge them incredibly high prices.

By:
Davis Warhurstl
Automotivel
Nov 16, 2010

Cheap Temporary Car Insurance – How To Acquire It

The call for a temporary car insurance quote could arise when you need to drive a car for just a quick length of time. A hire vehicle would be the best example. Perhaps you are moving home and need transport for yourself and family, or just going away on vacation and never obtaining a car of your own. Probably even something simpler such as your car is unfortunately in the garage being fixed and you must have a loan of an auto from a good friend or work colleague. There are various instances whe

By:
Davis Warhurstl
Automotivel
Nov 06, 2010

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Cheap Temporary Car Insurance-What Does Car Insurance Entail? Tips While Purchasing it

admin — Sat, 12 Mar 2011 09:17:46 +0000

It is not sufficient if you purchase a car of your choice. Consider protecting yourself and safe guarding others too. You need to get a suitable policy which covers medical expenses, accident cover, cover for personal belongings and new for old policy etc. Opt for a better cover which helps you take benefit of most of the coverages. Remember, there is a slight difference between a temporary car insurance for young drivers cover and a collision policy. A comprehensive policy covers every thing except for a collision. If your vehicle collides with another vehicle and causes damage, this can be covered only under a collision policy. Therefore it is vital to consider the difference in the policy in order to opt for the right one.

Remember, a comprehensive policy is not really all inclusive policy. It does not help you provide any compensation in case there is a collision. The word ‘cheap rate’ is quite misleading you. You must not arrive at a decision based on the cheap rate of a temporary car insurance policy. See if that policy includes all the benefits, there must be some thing hidden. After considering both the benefits and the rates, you then decide on which insurance is the most suitable one for you.

An old car of a higher price will cost you more in terms of the insurance premiums you pay. If this is compared with a new car of a lesser price, you will end up paying more for car insurance for young drivers. These might seem trivial, but they are of great importance while determining your policy rates. Act wisely and weigh the policy pros and cons before you decide to take one. Understand your policy before a loss, sit down and carefully read your insurance policy. Call your agent or company if you have any questions about what is or is not covered.

One of the factors that come into play with insurance claims is the cost of repairing a vehicle and the safety features a vehicle has that can keep down the bodily injury claims. Do not relieve your insurance company of its responsibility until the damages are settled to your satisfaction. For example, have your insurance company handle the claim if the other party’s insurance company questions its policyholder’s negligence or offers an unacceptable settlement. Consider all the above tips while purchasing a policy online like young drivers car insurance.

Temporary Car Insurance For Young Drivers-Getting a Car Loan in Canada

admin — Thu, 10 Mar 2011 19:18:09 +0000

Getting a Car Loan in Canada

Getting a Car Loan in Canada

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Home Page > Finance > Loans > Getting a Car Loan in Canada

Getting a Car Loan in Canada

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Posted: Aug 09, 2010 |Comments: 0
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Poor credit car loans are not only for people who have declared bankruptcy. If you have no credit history, are a student, or have a lower than ideal credit score, you may be a perfect candidate for this type of auto financing. You just need to know How to Get a No Credit Car Loan in order to take advantage of the opportunity. This article will tell you how to do that. The first thing you should do is get a copy of your credit report and credit score. This is information that you should know before dealing with any lender. It gives you a chance to examine your credit history and correct any mistakes. If your reports show that you have a credit score above 550, then you stand a really chance of securing car financing. With your information in hand, you can proceed with applying for your car loan. Auto Source Financial is the Best online lender who can help you with the process. The benefit of using an online application is that it as easy as filling out a form, and the instant response system typically gets you an answer in approximately an hour. Here are a few tips to help you get off on the right foot.

Dos of How to Get a Bad Credit Auto Finance.

- Be able to supply proof that your monthly income is ,850 or more – Be eligible and capable of getting auto insurance and have a valid drivers licence - Have a guaranteed income/full time job with tax deductions- Have a working phone and be able to prove your residency. It really is that easy. There is a possibility that you may need to send or fax your supporting documentation.

While no credit car loans are for people in all types of credit situations, there some people that just will not qualify. If your only income is from seasonal or temporary employment, you are in the military and stationed outside the country, or you are not able to provide proof of your income, you may not be a candidate for this kind of car financing. Every Application is Different as Auto Source Finance also provides loans for Immigrants and foreign student new to Canada.

Bad credit auto finance loans can help anyone. They are a great way for students to get their first experience in the world of finances. With no credit history, young drivers can start building their score and earning themselves a good credit rating. Auto Source Financial will help a student to determine how much is wise for them to spend on a vehicle loan.

For a free credit report from equifax canada simply apply online to Auto Source Financial and a Finance Specialist will contact you on the best plan of action.

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Auto Source Financial -
About the Author:

Auto Source Financial is a Canadian Financial Firm that assits people with No credit or Bad Credit Obtain Vehicle Finanicng. We Specialize in New Immigrants and Foreign Student Vehicle Loans.

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