Corb7 International April 27th, 2022 Newsletter

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International Business 

Editor's Note

 Musk Wins 

The response by many has been predictable and frankly, boring.  Their sky is falling victimhood is getting a little old. Watching some pundits hyperventilate over Elon Musk taking ownership of twitter is sort of like viewing clips of the Johnny Depp civil suit trial.   The guilty pleasure of observing the “train crash” they insist on displaying is simply too much to pass by but at some point, you ask yourself an inevitable question.   

What is wrong with these people and why am I wasting my time?  

In the United States, the First Amendment to Constitution guarantees the freedom of speech.  Categories of speech that are given lesser or no protection by the First Amendment (and therefore may be restricted) include obscenity, fraud, child pornography, speech integral to illegal conduct, speech that incites imminent lawless action, speech that violates intellectual property law and true threats. Open debate has been encouraged and protected for 246 years. 

Many of these same people who will now endlessly attack Mr. Musk probably own a Tesla automobile.  Hypocrisy is not a stranger to them, and self-awareness is not a cherished trait.   One of my favorite authors was Kurt Vonnegut, Jr., who frequently ended a story with the phrase – “so it goes.”  It was thought to be a fatalistic expression of acceptance of things one cannot change or prevent.    

Mr. Musk won his battle for Twitter, and if he keeps his promises, we all will have won - even his loudest critics which will not stop them from whining.  So, if Elon Musk can help preserve free speech which is good for business and the markets we are all in.

And so it goes.

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International Business 

Business Psychology

How Mediation Can Help Balance Your Life

Juggling a family and a thriving career is no small task. It's easy to become overwhelmed when faced with responsibilities at home and at the office, and it's even easier to fall victim to a work-life imbalance. Such an imbalance can have troubling short- and long-term consequences.

More than 40 percent of working professionals who were recently surveyed by the United Kingdom-based Mental Health Foundation noted that they are neglecting various aspects of their life because of work. The MHF notes that such an imbalance can make professionals more vulnerable to mental health problems. In fact, the same survey found that more than half of all workers who work long hours feel irritable, while 27 percent acknowledged feeling depressed.

Various strategies can help working professionals overcome the negative side effects of work-life imbalance. In addition to exploring ways to work fewer hours and find more time for their families, professionals who feel their life lacks balance can seek ways to overcome the stress associated with such an imbalance. Meditation is one such option.

What is meditation?

The Mayo Clinic notes that meditation dates back thousands of years. Modern meditation often aims to help people relax and reduce stress. When meditating, people focus their attention as they attempt to eliminate jumbled thoughts. That can be especially valuable to adults who are feeling overwhelmed by their many personal and professional responsibilities.

The National Center for Complementary and Integrative Health notes that there are many types of meditation, but most require four common elements:

· a quiet location to meditate where distractions are limited

· a specific, comfortable posture

· something people can focus their attention on while meditating, such as a set of words or an object

· an open attitude

How does meditation benefit the mind and body?

Meditation advocates note that the practice can provide a sense of inner peace and help people rebalance their lives. That can pay dividends for both physical and mental health.

The NCCIH notes that evidence suggests meditation can help reduce blood pressure. High blood pressure has been linked to both heart disease and stroke. A small study by the NCCIH also found that a form of meditation known as mindfulness-based therapy for insomnia helped reduce instances of chronic insomnia in adults.

According to the NCCIH, a recent review of three studies suggested that meditation may help slow, stall or even reverse age-related changes in the brain.

Adults confronting a work-life imbalance may feel as though they don't have the time to address their concerns in a healthy, effective way. Meditation need not take up much time each day, but it can be an effective tool in the fight against work-life imbalance. 

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International Business 

Cross-Border Business

The Cook Islands

A  Located in the South Pacific, the Cook Islands is a nation of 15 islands which are scattered over a vast area, with political links to New Zealand. In 1901, the Cook Islands became a New Zealand colony but after a push for self-government in the 1960's, it developed an autonomous free association with New Zealand in 1965. As a result, it administers its own affairs, nevertheless, Cook Islanders are also New Zealand citizens.  As a point of geographical reference, the Cook Islands are an approximate 10-hour direct flight from Los Angeles on Air New Zealand.   

Regarding cross-border business planning, this jurisdiction is best known for its Asset Protection Trust construct.  In review, an Asset Protection Trust is a legal structure that splits the beneficial enjoyment of trust assets from their legal ownership. A Trust is simply a contract between the people who wish to protect assets (the Grantor) and the person who will manage the assets (the Trustee) for the benefit of all Beneficiaries.


Cook Islands
Location:  1850 miles NE of New Zealand
Capital City:  Avarua
Population:  17,459 
Language Spoken:  English
International Time:  EST + 16 1/2 hours
Airline Service:  Air New Zealand, Virgin Australia
Currency:  New Zealand dollar
Type of Government:  Self-governing under Constitution, in free association with New Zealand
Main industries:  Agriculture and manufacturing
Tax Treaty:  Yes
OECD:  Approved

Additional Notes:  Passed legislation in the early 1980s that allows for a high degree of flexibility, simplicity and administrative ease for offshore sector. 

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International Business

Business Tools

 Legally Own a Cayman Bank for Profit

The South of Cuba and Northwest of Jamaica, this small island territory is a major international hub and the fifth largest banking center in the world.  It is a location where myth and fact have often been blurred by those willing to buy into what has become known as the “Grisham effect.” 

As you may recall, the famous fiction writer John Grisham used the Cayman Islands as a backdrop for several of his books.  Some of his works were turned into movies with the most celebrated one being, “The Firm,” which starred Tom Cruise and was released in 1993.  For many years, the Cayman Islands suffered from the “Grisham effect," as it was painted within his books as location where money can be stashed away by criminals.  The beauty of the location added a certain romance to the idea of ill-gotten funds being placed in illicit Cayman banks. The reality, however, is far more boring.  The Cayman Islands is a highly regulated and full compliant jurisdiction and as such not exactly an ideal location for drug dealers or anyone else to launder their funds.  It is also not a tax haven for US citizens. 

It is possible to become an owner of a Cayman Island bank and previous banking experience is not necessary needed.   Although, in reality, it greatly improves your chances of approval, and odds are good that your directors will need a stellar CV demonstrating financial experience.  There are three types of licenses: Class A, Class B unrestricted and a Class B restricted.  Class A allows for doing business with the locals and will not be part of our discussion since it has little practical application for our needs.  The other two classes is where we will concentrate. 

Please note these are not tax shelter vehicles. 

 CLASS B Licenses: 
* Class B Unrestricted License – unrestricted to the number of clients which it can service.
* Class B Restricted License- restricted in the number of clients which it can service, which will be stipulated in the permit.   

Overview:
 A Category B bank permits the holder to undertake full banking services from within the Islands or elsewhere, but prohibits the taking of deposits from any person resident in the Islands, other than another Licensee, or an exempted or an ordinary non-resident company that is not carrying on business in the Islands. 

Fees:
The initial application must be accompanied by a fee of US$2439.02 payable to the Cayman Islands Monetary Authority.  If the application is successful, a fee of US$85,365 will be payable upon the granting of the Category B license. The fees for the licensing process can range from US$45,000 and upwards.  Thereafter, the Annual Fees will be dependent on the amount of assets the bank holds:
 
* Assets less than US$100 million - US $73,170.73
* Assets between US$100 million and US$500 million - US$85,365.85
* Assets between US$500 million and US$1.0 billion - US$97,560.98
* Assets between US$1.0 billion and US$5.0 billion - US$109,756.10
* Assets greater than US$5.0 billion – US$121,951.22
 
Paid-in -Capital:
Under the Bank and Trust Companies Law (2013 Revision) all locally incorporated banks are required to maintain (on a paid-up basis) a minimum net worth of CI$400,000 or its equivalent in other currencies except for licensees that hold Restricted Banking Licenses. Restricted Category B Licensees are required to maintain a minimum net worth of CI$20,000 or its equivalent in other currencies. The Cayman Islands Monetary Authority adopts the guidelines set by the Basel Committee for Bank Regulation and Supervisory Practices for the calculation of the capital adequacy ratio (risk asset ratio). The Basel Committee recommends a minimum risk asset ratio of 8%. However, the Cayman Islands Monetary Authority requires subsidiaries to maintain a minimum risk asset ratio of 12% and privately owned banks are required to maintain a minimum of 15%.  

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International Business   

Business Etiquette  

How to Politely Nudge an Email Response

by Candace Smith
The Etiquette Blog
Etiquette for the Business of Life

Sometimes it’s necessary to nudge a response from someone, particularly in the case of email.  We are all busy, with lots of information coming at us at what feels like a constant, rapid pace.  When certain messages aren’t handled immediately, it is far too easy to let them sink unnoticed back in your inbox. Especially when new emails are coming through, demanding your attention!

However, when a well-intended nudge crosses the line into what feels like a push or a shove, the boundaries of “polite” have been crossed.  No longer is the shield of courtesy in place. Things can begin to feel rude.  

We definitely want to avoid this edgy experience.  But on email the bind is there, as you really do want a person to respond to you.  It’s only a guessing game when it comes to knowing why the recipient of your message hasn’t responded and it’s not polite to ask why you haven’t gotten a response.

While You Wait
As you walk the tightrope of waiting for someone to respond to your email and deciding if you should nudge a response, your mind may play with various scenarios of following up or how you will react when you finally hear from the person.

In order to remain in polite territory, keep the following suggestions in mind:

• Keep your emotions in check.  
• Don’t accuse or insinuate impoliteness.
• Evaluate whether you are trying to correct the person for putting you out of sorts. 
• Reassess all the possible reasons your email has gone untended:  over-full inbox, opened and slipped into opened mail, person has been away from email, and so on.
• Make a note to yourself that if you haven’t heard by a certain date, you will reach out.
• When that time comes, assess whether you want to respond.  Some things may be better left alone.

We’re always sensing the waters of “polite” to know where and when to put the oar in. Whether you choose to be subtle or direct when you nudge a response from someone, always intend to be respectful.  Even if your gesture is not read that way, you’re in an easy line for a quick apology.
Next, decide if you should send a new email or if you should forward the previous message chain with your response request.  This will depend on the importance and type of the information in the message chain.

Forwarding your previously sent email:

• “Hi John, I’m wondering if there is anything I can do to help with this form.”
• “Hello Kelly, I hope this doesn’t feel like I’m rushing you.  What do you think about this plan?”
• “Hey, good morning, Charlie!  This is just a little nudge to say that we should get to solving this soon.  Looking forward to it.”
• “Mary, this probably slipped into opened mail. Curious what you think.  How should we proceed?”

After the salutation when sending a new email:

• “Regarding the Johnson offer, may we consider a deadline?  I'm available if you'd like to speak by phone."
• “What are your thoughts about our upcoming meeting on Wednesday?"
• “I am reaching out and hoping all is well.  We haven't been in touch.” 
• “Just wondering if you received the invitation to our party this week.  Please let me know if you and Charles can come.  We sure hope so!”

  It helps me to remember that when I get an email, the guideline is to respond within the first twenty-four hours.  My response may be that I intend to respond later, but at least the person with whom I am corresponding knows that they are a priority, “John, I received your email and will get back to you this week after I have a chance to work on our proposal.”  

We are all busy people and things slip away from us.  This is why it is completely appropriate to nudge a response from someone.  The key is to do so etiquette-fully, keeping kindness and respect at the forefront of your reminder. 

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Lifestyle

Executive Fitness

 How to Live Longer

 There are many reasons to get in shape. Weight loss is a prime motivator, as is reversing a negative health effect, such as high cholesterol or increased diabetes risk. Routine exercise also can improve life expectancy.

WebMD says exercise keeps the body and brain healthy. That's why exercise should be an important component of daily life no matter one's age.

Research published in the journal Immune Aging found that how people age is 75 percent lifestyle and only 25 percent genetics, which underscores the importance of the lifestyle choices people make.

Cardio-respiratory fitness

Many health experts say that cardio-respiratory fitness may be just as valuable a metric to determine overall health as blood pressure and lipid levels. People with a high aerobic capacity can deliver oxygen to tissues and cells efficiently to fuel exercise, according to data recently published in the journal Aging & Disease. In a study involving 11,335 women, researchers compared V02 max, also known as aerobic capacity, in women with mortality data. Women who were fit from a cardiovascular perspective had a lower death rate from all causes, irrespective of the women's weight.

Manage stress and mood

Exercise has direct stress-busting benefits that can promote longevity. The Mayo Clinic says physical activity can increase the production of endorphins, which are the body's feel-good neurotransmitters. In addition, exercise can imitate the effects of stress, helping the body adjust its flight or fight response accordingly, and help them cope with mildly stressful situations. While engaged in exercise, people may forget about their problems as they are focused on the activity at hand.

Improve bone health

Strength training and physical activity can stave off the effects of frailty and osteoporosis, which affects bone strength. A study published in the Journal of Internal Medicine in 2017 found that hip fractures are associated with diminished quality of life and survival among the elderly. One in three adults aged 50 and over dies within 12 months of suffering a hip fracture, and older adults have a five- to eight-times greater risk of dying within three months following a hip fracture. Building muscle strength, balance and bone density through exercise can reduce falls and frailty, helping to prevent fracture-related health risks.

Addresses sarcopenia

The health and wellness resource Healthline defines sarcopenia as the loss of muscle mass specifically related to aging. Doctors once considered this muscle loss inevitable, and it can affect stamina and lead to weakness. However, new indications suggest that exercise is the main treatment regimen for sarcopenia, particularly resistance training. This is designed to improve muscle strength and help balance hormone levels by turning protein into energy for older adults.

These are just some of the ways exercise can help older adults live longer, healthier lives.

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Lifestyle

Spirits & Cuisine  

The Best Cake Ever for Mother's Day!

“Thank You, Pittsburgh, For The Greatest Cake America Has Ever Made” 
– Huffington Post

For 28 bucks plus shipping, their “Burnt Almond Travel Torte” may just be the best pastry you have ever ordered. All we can say is … WOW! Light, fluffy and yet crunchy, this torte blew us away, and we do not have a big sweet tooth.

Prantl’s German Bakery has been located in the upscale Shadyside section of Pittsburgh for over 100 years. It is not cheap but in our opinion very worth it. Give it a try. If you order now it will likely be at your front door by May 8th which is Mother's Day!

Click Here to Visit Site 

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Lifestyle 

Leisure

 

What's Missing From Your Classic Car

They're eye-catching, often exotic and always call to mind a bygone era. Classic cars are undeniably unique and their unrivaled automotive appeal has inspired legions of fans.

Each model year vehicles evolve a little further. What once was popular or essential gets updated with something new and a little more innovative. While certain car parts may always be necessary, others may age out or evolve over the years.

One of the challenges automotive repair professionals often face is the constant need to stay abreast of the changes in automotive design. As features change, so does the knowledge required to keep vehicles on the road. The following are some of the components you likely won't find rolling off of the assembly line these days.

· Carburetor: Vehicles previously used a carburetor, which was a bulky device that sat on top of the engine. Classic cars have carburetors, but modern ones do not. Most car manufacturers stopped using carburetors in the 1980s because fuel injector systems proved to be more efficient and improved fuel economy. Carburetors created an air-fuel mixture needed for engine combustion. Very often carburetors were the culprits in poor engine performance because they weren't creating the right air and fuel mixture. Also, jets on the carburetor could easily become clogged.

· Generator: Modern automobiles no longer use a generator, which is a device used to produce electricity through the rotation of fine wires in a magnetic field. Cars today use alternators. Instead of an armature rotating inside a stationary magnetic field as with a generator, an alternator has a magnetic field that rotates around a stationary armature, according to the online resource Electrical Technology. Alternators are more efficient because they can produce more power, even charging a car battery, at low engine speeds and idling.

· Audible turn signals: Turn signals, also called blinkers, typically have a clicking sound to alert the driver that the signal is still engaged and needs to be switched off after a turn. However, many modern cars are phasing out audible turn signals.

· Car keys: Newer vehicles do not have stamped metal keys, which have been replaced by electronic fobs. When the fob is near to the vehicle, doors automatically unlock. The fob is used in combination with a push-button ignition, making a key start obsolete.

· Full size spare tires: Not too long ago, if a flat tire required a roadside change, drivers could rely on a full-sized spare in the trunk or under the vehicle. According to AAA, spare tires have been replaced by tire inflator kits on millions of vehicles in the last 10 model years. Finding a full-sized spare is a rare occurrence.

· Control knobs: Radios, heating and cooling systems and other car features are increasingly being activated by buttons or digital displays. Gone are knobs and actual levers. This may be one feature that may have decreased safety and efficiency. Buttons rather than easily manipulated knobs require drivers to take their eyes off the road to find them and engage.

Just a little fun with cars. 

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Lifestyle

Lifestyle & Travel

Traveling & Pets

We all have cabin fever after two years of COVID, and many would like to do some serious traveling in the near future. If you travel and have pets, you know very well how stressful it can be leaving your family member behind.  We have a high energy dog and needed a method to check on him while we are traveling (even with a house sitter) or when  just out for a quick meal.

Well, Furbo is a pretty cool all-in-one dog sitter that includes a camera, treat popper, barking alerts and night vision. You can also talk to your pet via a microphone – although they don’t seem to recognize voices very well.  In any case, the above evaluation was posted on YouTube and seems a fair review.  

This might just help your separation anxiety!  

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Business Services

Business Acquisitions 

"Think Seven Continents,
Think a World of Opportunity"

Swiss Trust Companies for Sale:
 
* 40-Year-Old Swiss Trust Company - SOLD
Established in the year 1982
Place of Incorporation Zug, Switzerland  

* 36-Year-Old Swiss Trust Company - Immediately Available
Established in the year 1986
Place of Incorporation Zug, Switzerland  
Corresponding Bank Relationship: Client’s Choice
Acquisition Investment:  $110,000
Excellent administration with a prestigious law firm located in Zurich 
Administration first year fees included in acquisition price
Initial legal retainer also included