Corb7 International May 4th, 2022 Newsletter

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International Business

Editor's Note

May Comes in With a Triple-Header !

Business news both on the international and domestic front is extremely intense. So as investors in the United States gear up for the Federal Reserve’s policy decision on Wednesday and earnings from major companies including Pfizer, Airbnb and Starbucks, we thought it an excellent opportunity to lighten it up a little. 

Mother’s Day, Cinco de Mayo & the Derby!

This week will experience a triple-header as these three events take place.  Personally, the Kentucky Derby is always a favorite.  We were lucky enough to go twice and it does not disappoint.  We provide a complete synopsis of everything you need to know below in our Travel Section.   

Punxsutawney Phil vs. Zurich Boogg  

In the United States there is an eccentric tradition of having a groundhog try to predict the end of winter each year. Punxsutawney Phil is the groundhog and central figure to the celebration held in Pennsylvania every year on February 2nd.    

Since 1887, Punxsutawney holds a festival with music and food. During the ceremony, which begins well before the winter sunrise, Phil emerges from his temporary home on Gobbler's Knob. According to the tradition, if Phil sees his shadow and returns to his hole, he has predicted six more weeks of winter.  If Phil does not see his shadow, he has foretold an early spring.  If you have ever seen the movie Groundhog Day staring Bill Murray, then you are aware of the event which has caused this local tradition to get national attention.

Not to be outdone, the people of Zurich have their own tradition to mark the end of winter when they blow up an 11-foot-tall snowman whose head is filled with straw, cotton and dynamite.  This traditional spring festival occurs on the third Monday of April (this year it was held April 25th) and is called Sechseläuten, or “Sächsilüüte” as it is known in local dialect. The event is marked by a parade and climaxes in the burning of 'Winter' which takes the form of a snowman called the Böögg. The Böögg's head is packed with fireworks and the exploding head makes a makes a stunnning finale to the day. The origins or the festival go back to medieval times.

One final interesting note, in 2006, the Böögg was abducted by leftist "revolutionaries", who thought the holiday to be a capitalist celebration. Since then, no chances are taken and duplicate Bööggs are held in reserve with the main one stored at a bank - talk about cancel culture.    


Click for 2022 Video
 

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International Business 

Business Psychology

Great Reads: "Atomic Habits"

  This is one of the best self-improvement books we have read in a long time and highly recommend it.

“Atomic Habits” by James Clear is a New York Times Best-Seller and a wonderful work.  Mr. Clear goes into many theories and practical applications of how to layer small changes on each other to accomplish a large goal.  You will be impressed by his down-to-earth approach and no-nonsense verbiage. 
 
An atomic habit is a regular practice or routine that is not only small and easy to do but is also the source of incredible power, a component of the system of compound growth. Bad habits repeat themselves again and again not because you don't want to change, but because you have the wrong system for change.

If you give this book some of your time, even the most accomplished individuals should walk away satisfied and a new awareness of performance.  “Atomic Habits” offers the framework for achievement and daily self-improvement.   

James Clear

Get 1% Better Each Day

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International Business 

Cross-Border Business 

Anguilla 

Anguilla, a British Overseas Territory in the Eastern Caribbean, comprises a small main island and several offshore islets. Its beaches range from long sandy stretches like Rendezvous Bay, overlooking neighboring Saint Martin island, to secluded coves reached by boat, such as at Little Bay. Protected areas include Big Spring Cave, known for its prehistoric petroglyphs, and East End Pond, a wildlife conservation site. 

Anguilla
Location:  Eastern Caribbean Sea
Capital City:  The Valley
Population:  15,117 (2021)
Language Spoken:  English
International Time:  EST + 1 hour
Airline Service:  American Eagle, Windward Islands Airways, Air BVI, Air Anguilla, r
Currency:  Eastern Caribbean Dollar EC$2.70 = US$1
Type of Government:  British Dependent Territory
Economy:   Government and private sector aggressively promoting advantages offered by Anguilla.
Tax Treaty with US:  No

Additional Notes:  In 1995 a hurricane hit the island and contributed to a substantial reduction in industrial output. This is a zero-tax jurisdiction with no exchange controls on currency.  A 1990 investigation conducted by Coopers and Lybrand on behalf of the British Government resulted in new offshore banking regulations.  31 of the 44 previously licensed offshore banks had their charters revoked.

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International Business

Business Tools

Don't Get Hijacked!

A good friend recently related to me that someone had tried to hijack his corporation for fraudulent gain.  Fortunately, it was caught before any funds were lost but others have not been so lucky. Frankly, I had never heard of this type of scam and thought it worthwhile to bring to the attention of our readership. Far removed from the type of hijacking portrayed in the movie “Captain Phillips,” this is a real threat to small business owners.  It is essentially when a fraudster targets a company, re-domiciles or hijacks the company to a new location via corporate filings, and then attempts to open false lines of credit or clean-out existing bank accounts.  This all can happen without the real owners of the company realizing until it is too late. 

Corporate Hijacking
“Changing, replacing or amending company records such as directors’ company addresses or auditors by a third party totally unrelated and unknown to the current officers.  In such instances, access to the victim’s records is obtained illegally and without having legal access to the customer code or password of the company in question.” 

It is unfortunate but identity theft is no longer only just a consumer or retail crime. Manuals teaching one how to carry out corporate ID theft can be easily found on the internet. Thieves have learned that businesses also have identities that can be stolen and unsuspecting businesses can be very easy targets. To criminals,business identitytheft means the potential for easy money.  One solution to stop hijacking would be for business owners to consider using jurisdictions that protect corporate filings with a password. This simple step may be the easiest and most effective method to discourage thieves.  

Related Link:

Corporate Hijacking

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International Business   

Business Etiquette 

Flowers for Mother's Day or Any Occasion

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

Since ancient times, the act of giving flowers has conveyed a special meaning. Whether used as a show of respect, appreciation, romantic love, friendship, or condolences, flowers provide a message for those who receive them in a language all their own.

Etiquette-ful Flowers
Etiquette encourages us to show kindness and consideration as often as possible. Flowers provide one method for doing this.

• Saying thank you.  Flowers are a wonderful accompaniment to a thank-you note.  
• Sending good thoughts.  Sending flowers with a note of encouragement, get well wishes, condolences, wishing good luck, or just to let someone know you are thinking of them will be a bright moment in any day.
• Welcome.  A new neighbor, roommate, office colleague, or someone who has moved away will appreciate a welcome floral arrangement to help them adjust to a new environment.
• A thoughtful gift.  Bringing flowers to someone’s home when you’ve been invited for dinner, or as a gift for a special occasion is always appreciated.

No Special Occasion Necessary
Research studies reveal that around 89% of people feel special when receiving flowers.  This high percentage is the very reason the floral business is consistently booming.  And no wonder – flowers are and always have been a gift based on emotion.

Whether or not you have difficulty expressing your feelings, giving flowers to help relay the message you want to send is a good idea. 

In Victorian times, types and colors of flowers were used to send very specific messages.  From friendship to infidelity, there was a flower for every occasion.  These days, that specificity is not so intact, though roses still tend to imply a more romantic interest, particularly red roses.

If the object of your affection is not a fan of roses, but you still want to convey a message of romance, an arrangement of red and pink blooms should do the trick.

If romance is not what you choose to communicate, send an arrangement that has a mix of colorful flowers, especially if roses are included.

Etiquette Guidelines for Giving Flowers
Though giving flowers is relatively easy whether you have them delivered or deliver them yourself, there are considerations to give thought to.  You might use the following checklist before placing your order for an arrangement.

• Does the person have any allergies that might prevent them from enjoying your choice of flower?
• If you are having a floral arrangement delivered, did you include a note letting the receiver know who it is from?  Sure, secret admirer gifts are fun, but they can backfire sometimes.
• Do you know the person’s preference on color or type of favorite flower?  Instead of a bouquet of stems, would they prefer a potted plant instead?
• Will the type of arrangement you are sending relay the message intended?  This is also where an enclosed card can be useful.  

When sending flowers to someone for the first time, you can use the occasion to find out their preferences for future gift-giving.  Just make sure you remember what their favorite flower is!

But most importantly, for any occasion or no occasion, you can almost never go wrong when giving flowers. 

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Lifestyle

Executive Fitness 

Are Your Workouts Working?

Obstacles are bound to appear as individuals embark on the road to getting healthier. Such obstacles come in many different forms, but one hurdle many individuals encounter is doubts about the effectiveness of their workout regimens.

Everyone would love to reap instant rewards from exercise, and immediate gratification is not necessarily elusive. For example, individuals who begin exercising may find their energy levels and attitudes have improved after their first workout. However, individuals who are exercising to lose weight may be discouraged if the scale doesn't immediately indicate they're shedding unwanted pounds. That's a significant obstacle to overcome, and it's one reason why so many health professionals urge patience and perseverance as individuals embark on their weight loss goals. Though it might not seem like much, industry professionals note that losing one to two pounds per week is a good sign that a workout routine is working.

The experts at Johns Hopkins Medicine note that weight loss is not the only way for individuals to determine if they're making progress toward their weight loss goals. The following are three additional metrics that individuals can look to as they try to chart their exercise progress.

1. Target heart rate: Before beginning an exercise regimen, individuals, especially those who have been living a sedentary lifestyle, should speak with their physicians to determine what their target heart rate should be. They can then measure their exercise progress by what they need to do to reach that progress. At the outset, individuals may not need to exercise as vigorously to reach their target rates, but as their bodies get healthier and grow more acclimated to exercise, they will need to work harder to reach their target heart rate. This makes target heart rate a good metric by which to measure exercise progress.

2. Repetitions: Johns Hopkins Medicine notes that repetitions are another reliable metric by which to measure exercise progress. The more repetitions individuals can do without straining, the stronger their muscles are becoming. Individuals should resist any urge to overdo it. The repetitions metric is only a useful measure of progress if individuals are capable of doing a rep without straining.

3. Body composition: This metric should come as no surprise. The more positively exercise affects the body, the more that will show in how the body looks. Johns Hopkins notes that fat loss, specifically around the waist, and muscle growth are two telltale signs that an exercise regimen is progressing.

It can be easy to obsess over results when beginning an exercise regimen. But remaining patient and persistent and utilizing certain metrics to measure progress can keep individuals on the path to getting fit.

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Lifestyle  

Spirits & Cuisine

The Perfect Mint Julep Recipe

Mint Juleps are the official drink of the Kentucky Derby.  Since the 148th Run for the Roses is Saturday we thought you might enjoy this video which provides a great recipe.  

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Lifestyle

Leisure 

What is Cinco de Mayo?

Cinco de Mayo is a Mexican holiday celebrated by millions of people each year. Oddly enough, the majority of those people live in the United States instead of Mexico.

Cinco de Mayo commemorates the Battle of Puebla, during which he Mexican Army overcame significant obstacles to defeat the French Army under the direction of General Ignacio Zaragoza. On May 5, 1862, an attacking French Army battled against Mexican forces that were roughly half the size of their opponents. Despite that decided disadvantage, the Mexican Army won the battle. Mexican forces would ultimately be defeated by the French a year later, but that same year witnessed the first celebrations of Cinco de Mayo in California, where Mexican miners celebrated the heroic efforts of their countrymen a year prior. Curiously, those 1863 celebrations would prove to be a harbinger of things to come, as Cinco de Mayo eventually became a more prominent holiday in the United States than it did in Mexico.

The only major celebrations of Cinco de Mayo in Mexico, where the day is a holiday but not considered a significant one (banks and government offices remain open), take place in Puebla, though the neighboring state of Veracruz also treats the day with a greater degree of significance than elsewhere in Mexico.

Historical reenactments of the battle and parades are part of celebrations in Puebla. Celebrations in the United States are considerable, as many people, including those with no ancestral ties to Mexico, look forward to May 5 as an opportunity to celebrate Mexican culture and food as well as the many traditions that make Mexico such a unique and special place. Cinco de Mayo celebrations in the United States bear some resemblance to the country's St. Patrick's Day celebrations. St. Patrick is the patron saint of Ireland, though many American St. Patrick's Day celebrants have no connection to Ireland or the Catholic Church. Rather, the day has become an opportunity for people from various backgrounds to celebrate Irish culture, much like Cinco de Mayo marks a chance to celebrate Mexican culture.  

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Lifestyle

Lifestyle & Travel

The Kentucky Derby 2022

 Few sporting events are shrouded in history and tradition as much as the Kentucky Derby. Billed as the "the fastest two minutes in sports," the Derby began in 1875 and is celebrated each year on the first Sunday in May.

Many horse racing fans make entire weekends out of the Derby, planning their celebrations months in advance of the race. The Derby will have a live viewing audience this Saturday.  Churchill Downs has a regular capacity of 165,000, including general admission tickets. A

For those who cannot travel to Churchill Downs and attend the race in person, viewing parties are available all over the globe.

The pageantry surrounding the Kentucky Derby is well documented, but the following are a few interesting tidbits about the famed "Run for the Roses®."

· The Kentucky Derby began when Meriwether Lewis Clark traveled to Europe and attended the Epsom Derby in England. Clark was inspired to create a similar horse racing event in America.

· 2022 marks the 148th running of the race.

· Each year, roughly 120,000 mint juleps are consumed at Churchill Downs. The mint julep is the traditional drink of the Derby, and it is made with Kentucky bourbon, simple syrup, mint, crushed ice, and powdered sugar. Please see our Cuisine Section for the perfect mint julep recipe. 

· Secretariat is the fastest horse in Derby history, crossing the finish line in less than two minutes.

· There have been 19 winning horses in Kentucky Derby history whose names begin with the letter "S".

· On Derby Day, the infield at Churchill Downs  typically hosts 80,000 celebrants.

· The Kentucky Derby race track is 11/4 miles, which has been the standard since 1896. The first Derby races were slightly longer, at 11/2 miles.

· Male horses win the race more often than females. Of the 40 fillies to compete throughout Derby history, only three have won.

· Elegantly dressed women donning over-the-top hats usually grace Churchill Downs for the race. Many begin planning their styles and securing their hats weeks in advance.

· The best finish for a female jockey at the Derby was fifth place. Rosie Napravnik finished fifth while riding Mylute in 2013.

· "The Run for the Roses" refers to the red rose blanket that will be draped over the winner of the Derby.

The 2022 Kentucky Derby will air on this Saturday, May 7th with coverage from Churchill beginning at noon ET on USA Network and then switches to NBC from 2:30 to 7:30 PM ET.  Post time for the 2022 Kentucky Derby is set for approximately 6:57 p.m. ET. Riders-up will be approximately 6:30 ET.  

Current odds list Zandon as the 3-1 favorite. Epicenter (7-2) and Messier (8-1) are the other two 2022 Kentucky Derby horses who are getting single-digit odds on the morning line.

Hope you can enjoy the Kentucky Derby this weekend!

Kentucky Derby 2022 

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