Corb7 International March 30th, 2022 Newsletter

International Business 

Editor's Note

The Slap Heard "Round-the-World"  

No, we are not referencing Will Smith slapping Chris Rock at the Oscars.  Was it a publicity stunt or not?   Only Mr. Smith knows. Instead, we are of course addressing Mr. Biden’s roundhouse verbal swipe at Mr. Putin when he suggested the need for regime change in Russia.  Or did he?  Quick, we need a cleanup on Isle Four – again. We will reserve final judgment on whether Mr. Smith’s slap is any more believable that the White House rhetoric regarding exactly what Mr. Biden meant.  After first review, however, we think the slap seems much more genuine than the spin coming out of Washington.  This administration’s cat like reflex to deny what we just heard with our own ears is extremely disturbing.  Frankly, the shock (real or not) on Mr. Rock’s face was probably very similar to the expressions which occurred behind the scenes with the President’s staff last week.  

The reason that we touch upon this subject is not for political commentary but directed at international business.   Ukraine has worldwide implications, which go far beyond the absolute horror of the war and have placed everyone on a nervous edge.  Political stability is the foundation of economic success.  Like it or not, Mr. Biden himself has brought his competence into question.  And to use an American baseball analogy, we are not sure the relief pitcher is any better than the starter.  Every thought does not need to be verbized and the last two American Presidents and the current Vice President seem to struggle with oral discipline.  Repetitive gaffes are bad enough, but leadership really is the ability to set an example, admit when you are wrong and move forward.  Denials of the obvious truth only damage your own credibility.  In a time of war, a steady hand is needed at the wheel, and we certainly do not need to be told that we didn’t hear what we just heard.  Come-on man!   

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International Business 

Business Psychology

Factors that Can Adversely Affect Mood

No one is immune to the occasional bad mood. A bad mood can make a difficult day feel even more so, and multiple-person households can become uncomfortable places to be if one person's mood is less than welcoming.

Bad moods can be easy to shrug off, and that may not inspire people to wonder why their generally upbeat outlooks can suddenly take a turn for the worse. Each person is different, so what triggers a mood swing in some individuals may not necessarily do so in others. However, various factors can adversely affect mood. Taking steps to avoid or minimize such factors can reduce the number of days when you feel as though you woke up on the wrong side of the bed.

· Lack of physical activity: A 2019 study from the Harvard T.H. Chan School of Public Health found that running for 15 minutes a day or walking for an hour reduces the risk of major depression. That link is likely connected to the release of endorphins triggered by exercise. Endorphins are hormones that studies have shown contribute to a general feeling of well-being, which explains why a lack of physical activity can adversely affect mood.

· Chronic stress: Chronic stress has long been linked to a host of health problems. According to the Mayo Clinic, chronic stress puts individuals at increased risk for heart disease and weight gain but also issues that affect mood, including anxiety and depression. Individuals who find themselves routinely confronting bad moods may be dealing with chronic stress. Identifying the source of that stress and speaking with a health care professional about how to reduce and manage it may lead to improvements in mood.

· Hunger: A 2018 study from researchers at the University of Guelph in Ontario found evidence that a change in glucose levels can have a lasting effect on mood. The study, published in the journal Psychopharmacology, found that rats injected with a glucose metabolism blocker experienced stress and depressed mood due to the resultant hypoglycemia. The study lends credence to the notion that many people have about feeling moody when they don't eat.

· Weather: Seasonal Affective Disorder is a type of depression that adversely affects certain individuals' moods during winter, when hours of sunlight are fewer than during spring, summer and fall and when temperatures outside can sometimes be so cold as to keep people indoors for extended periods of time. In addition, a 2013 study published in the journal Social Indicators Research found that individuals report greater life satisfaction on exceptionally sunny days than they did on days with ordinary weather.

Bad moods come and go for most people. Identifying common triggers for bad moods can help individuals prepare for potential mood swings and navigate them in healthy ways. 

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International Business 

Cross-Border Business 

Bermuda Captive Insurance Conference

September 12-14th  

 Review
A captive is defined as an insurance company established in an offshore jurisdiction, created and controlled by either a parent company or professional association through which their own risk is insured. Those insured risks are frequently re-insured through a large multinational carrier.

The cost of insurance represents a considerable expense for most businesses. In recent years, premiums have skyrocketed leading many professionals to explore creative cost reduction strategies. One imaginative – yet proven – strategy is the use of wholly-owned subsidiaries to meet insurance needs which can control or even cut expenditures. Captives can be established to self-insure part or all of property loss, product liability, work compensation, malpractice and virtually any other coverage. Consequently, the driving force behind the move to offshore captive insurance extends virtually across all industries including, but not limited to: medical malpractice, workers compensation, manufacturing, financial, energy-related, and real estate developers, just to name a few. Over 350 of the Fortune 500 companies in the United States have insurance captives. As a result, Captive Insurance Companies have become a growing and significant sector of the global insurance industry.

Benefits:
1. Instances when insurance cannot be purchased from commercial insurance companies for a business risk. In many instances companies within an industry form a joint captive insurance company for that reason.

2. In very specific cases, premiums paid to a captive insurance company may be deductible as a business expense for tax purposes according to the Internal Revenue Service. It is important to note that the IRS has established very strict guidelines to qualify for tax benefits and the use of a professional is critical.  The rule of thumb is that the insurance company will need to be adequately capitalized and offer sufficient third party (non-related) insurance to qualify.

3. Insurance can be obtained through the international reinsurance market at a more favorable premium with higher limits of coverage.

4. Investment returns can be obtained directly on its invested capital.

Bermuda
Bermuda stands as the world's leader in Captive Insurance.  As such, their annual conference is consider one of the most important in the industry.  

Conference Information

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International Business

Business Tools

Update on the Swiss Light Banking License 

To boost innovative financial companies, the Swiss parliament has simplified the regulatory requirements for Fintech companies which accepts public deposits. This regulatory simplification, which was implemented on January 1, 2019, allows for a “Swiss Light Banking License”. The regulatory change will greatly reduce the financial requirements for FinTech companies that accept public deposits.

Under previous regulation, the operations of many FinTech companies often fell within the scope of the Swiss Banking Act and therefore required a full Swiss banking license from the Swiss Financial Market Supervisory Authority (FINMA). This Class One Swiss Banking License carries a substantial financial and organizational obligation, and has an onerous licensing process, which has kept many companies out of the Swiss market. For that specific reason, the Swiss Federal Council and Swiss Parliament created a legal framework for FinTech companies.

The new regulations include a “sandbox exemption”, that allows FinTech companies to engage in certain activities which under the previous rules would have triggered the need for a banking license.  In general. these companies may accept deposits up to a maximum of CHF 100 million without a full banking license, so long as such assets are not invested or interest bearing. 

Two years after this new legislation was put in place it continues to gain popularity with start-ups.
 
 Related Article

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International Business

Business Etiquette  

Finding the Perfect Pet Sitter

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

Hiring a pet sitter is a given in our busy world.  As devoted as you are to your pet, leaving them overnight will be necessary at some point.  Are you prepared?

Finding the Right Person

Some occasions may lend themselves to what I call a “built-in pet sitter”.  This is a trusted close friend or family member who knows you, your pet, and your home well enough to easily step in and take care of things while you’re away.

But when an angel such as this isn’t available, who will you turn to?  Finding the right person can be a challenge.  I recommend starting with a list of what you will need from the person you hire.

• Do you want them to stay in your home, or are daily visits sufficient?
• Will they be needed for household tasks or only for caring for your pet?
• What skills will they need in order to care for your pet?  If your pet has special needs or requires medications, this is a big consideration.
• What is your budget for paying this person?

Listing your answers to the above questions will give you a good starting point.  

Getting to Know You
Meeting the person who will be visiting your home and caring for your pet (or pets) while you are not present is absolutely necessary. So is getting to know them – at least a little.

On the other side of the coin, it’s also necessary for you, the pet sitter, to get to know your client.  Will this be a person or family and pets that you will enjoy working with?

A preliminary phone conversation will reveal whether or not you have a good feeling about this potential relationship.  Do you find their voice, demeanor, and phone etiquette satisfactory? Are you comfortable speaking with them?  You can tell a lot about a person from a phone conversation.

Once they pass the phone conversation evaluation, it’s time to meet in person.  Both parties should make it clear that the meeting is for consideration purposes only. And make sure that your meeting includes the following:

• A proper introduction to the animals that will be cared for.  The caregiver should see them up close (cats are terrific at hiding) and should be given the pets’ names.  
• Observation of interactions.  Does the pet seem comfortable with this new person?  Does the comfort level improve as the visit goes on?  
• Assessment of skills.  Does the pet sitter indicate in conversation that they have certain care methods and techniques that will be compatible with your pet?  Find an opportunity to see this in action by making your meeting time in line with feeding or medication time and ask your potential care giver to help with the task to see how your pet responds.  You might also take your dog for a walk as you interview the person, letting them take the lead to help assess compatibility with your dog.
• A tour of the home.  Show the person who will care for your pet where food and water dishes, food, medications, treats, toys, etc. are kept and how they are given.  If they will be staying full-time while you are away, show them the sleeping arrangements, bathroom, and what is off limits.
• Don’t skip the details.  Even though this is a preliminary meeting, if detailed questions arise, don’t put off answering them.  If your care giver isn’t allowed to park her car in the driveway, go ahead and tell her.  If you are curious about how often the litterbox should be cleaned, go ahead and ask.  Details from either the client or the care giver can only be helpful.

Once you’ve met and consider moving forward with a good working relationship, it’s time to dig a little deeper.  Both parties should find out more about each other.  References and mutual acquaintances should be called.  And a scroll through social media accounts may reveal more as well.

A Great Pet Sitter
So, you’ve found a pet sitter you like and trust.  Or you’ve found a client whose pets you look forward to spending time with. Ensure everything goes smoothly with these tips.

For the Pet Parent:

• Before the day of arrival, provide a key, code, and any other entry instructions, including alternatives – just in case.
• Make sure your care giver has the name of your vet and the name of an emergency veterinarian clinic.
• Write down food quantities, feeding times, and medication times.  Especially if you have multiple pets, it’s important to also label food containers and medications.
• Leave the names of neighbors, friends, or back-up pet sitters in case they are needed.
• Provide all available forms of contact for yourself while you are away.

For the Pet Sitter:

• Communicate!  Let the pet parent know when you leave and arrive, or if you are staying in the home, what your daily schedule looks like.  Have all questions regarding the pets and the home answered before your client leaves.
• Keep the home tidy.  Even if cleaning isn’t on your task list, ensure that your client comes home to a neat and clean place.  Or at least as neat and clean as it was when they left it.
• Send pictures.  Sending the pet parent pictures of a happy, well cared-for pet will give them comfort.  However, do not post these pictures on your social media without the pet parent’s permission.
• Follow safety rules.  Make sure all food and cleaning supplies toxic to pets are put away appropriately, lock doors and windows, set alarms as directed, etc.
• Leave a daily log of events.  A written log of events, food consumption, medication reactions, behavior issues, and even cute anecdotes, will be helpful for pet parents.

Keeping pets and humans happy is a big job.  But when you show care and attention to both, you can consider it a job well done!

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Lifestyle    

Executive Fitness 

10 Benefits of Mediation

The benefits of meditation are numerous. Doctors and scientists have uncovered various ways that meditation can improve personal well-being, including:

· Relieve stress and anxiety

· Alleviate fatigue

· Reduce blood pressure

· Reduce common menopausal symptoms

· Relieve symptoms of depression

· Improve a positive outlook on life

· Enhance self-awareness

· Lengthens attention span

· May reduce age-related memory loss

· May help fight addictions

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Lifestyle

Spirits & Cuisine  

Soft Pretzels from Philly 

Philadelphia has long been known for its famous soft pretzels. A twisted salted treat, this Philly iconic snack is often eaten at any time of the day.  Pretzel baking has been an East Coast institution since German immigrants brought this tradition when settling here in the 1700's. Now you can have this tradition sent directly to your door. 

PretzelsDirect.com
816 Washington Avenue
Philadelphia, PA 19147
800-424-2034

To Order

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Lifestyle 

Leisure 

Tips for Buying a Boat

Boating is a rewarding hobby that can be great for people from all walks of life. Many people buy a boat because they already have a passion for fishing and want their own vessel to take out on the water. Others may buy a boat because they like the challenge posed by sailing, a demanding yet rewarding hobby.

According to Grow Boating, a marine industry organization that aims to generate awareness and interest in boating, retail sales of new boats, marine engines and marine accessories in the United States totaled $20.1 billion in 2021. That marked a 9.5 percent increase from the year prior.

The fun of boating compels many people to buy their own boats. For first-timers, buying a boat can be both exciting and confusing. Prospective buyers must decide on everything from the type of vessel they want to the size of the boat to where to store it when they're not out on the water. Such decisions can make the process of buying a boat somewhat intimidating. However, the following tips might facilitate the process of buying a boat for the first time.

· Assess your skills. An honest assessment of your skills will help you determine if the time is right to buy a boat. There's no shame in waiting to buy a boat until you become more comfortable navigating it. Boating schools can be great resources for novices, teaching them the ins and outs of boating. The United States Coast Guard notes that boating safety courses are offered throughout the country for all types of recreational boaters.

· Ask around. Boaters tend to be passionate about boating, and many are willing to offer advice to novices about boats that may suit their needs. Local marinas can be great resources for first-time boat buyers. Visit a local marina and seek advice from current boat owners. Some may share their own travails and triumphs from their first boat-buying experience, and those stories can serve as a guide as you begin your own journey to boat ownership.

· Be patient. Boats are significant investments, so it serves prospective owners well to be patient and exercise due diligence before making a purchase. Do your homework on the type of boat that best suits your needs, skill level and budget.

· Do your homework in regard to fees. The cost of owning a boat is more than just the sticker price and the cost of fuel. Much like you would before buying an automobile, get a quote on boating insurance before making a purchase, being as specific as possible in regard to the boat's make, model and age when asking for an estimate. In addition, get quotes on docking and mooring fees. When buying a boat, people envision taking their boats out as much as possible. That's only possible for boat owners who fully grasp the full cost of boat ownership and how to finance all of the ancillary expenses of owning a boat.

The decision to buy a boat requires careful consideration of a host of factors to ensure boaters find the right boat and get the most of their time on the water

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Lifestyle

Lifestyle & Travel 

Monaco Grand Prix 2022 

Luxury Yacht Experience

May 26-30, 2022

The F1 Monaco Grand Prix is considered the most exclusive race in the world. The city of Monaco is considered to be one of the wealthiest in the world with 1 in every 3 residents a millionaire!
Enjoy exclusive hospitality with food and beverages on Saturday and Sunday on an upscale Yacht. You will also have hotel accommodations directly on the French Riviera.
We have limited hospitality options available on Saturday and Sunday with hotel accommodations in nearby Nice. Your exclusive 2 person package will include:

• Four nights in two single occupancy rooms in a hotel located directly on the French Riviera
• 2 tickets with exclusive five-star hospitality on a luxury Yacht on Saturday and Sunday
• Hospitality includes premier food and beverages
• Transportation from hotel to the race on Saturday and Sunday 
• Dedicated operational support prior and during event

Princeton Group is dedicated to providing you the best possible five-star experience. With over 35 years of direct industry experience, our team will work with you prior and during the event to ensure your event program is a stunning success!

For More Information
 

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Business Services

Business Acquisitions 

The Complete Guide to
Swiss Trust Company Ownership! 

Our free edition is now available and presented in a digital format increasing ease of reading and your ability to use this business tool as a valuable reference piece.   Gain Profit and Asset Protection in one of the world's most prestigious financial centers!