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Archive for July, 2010|Monthly archive page

Dodd-Frank & Its Implications

In Technology Issues and the Law on July 2010 at 4:38 am

Not social media… but everyone’s talking about it!  The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) is slated to effect sweeping changes in the financial services industry with an eye to prevent future financial crisis, as witnessed in recent years. Title IV of the Dodd-Frank Act, the Private Investment Registration Act of 2010, places numerous restrictions on private funds and fund advisers.  One of the many changes is the amendment of the Investment Advisers Act of 1940 (the 1940 Act) to require previously exempt investment advisers to register with the Securities Exchange Commission (SEC).

– Exemptions eliminated through the amendment of the 140 Act will become effective one year after the date of enactment of Dodd-Frank.

– Qualified investment advisers may register with the SEC during the transition period.

– The records of private funds obtained by the SEC and other government agencies under Frank-Dodd will be exempt from the Freedom of Information Act.

The complete article can be found here.

Published with permission from Sardar Law Firm LLC.

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LBJ, the NBA & Twitter

In Social Media on July 2010 at 4:13 pm

Here’s an example of Social Media use… blogging the right way, but on LBJ’s part, perhaps not Twittering in the best ways…

Unless you were living under a rock last week, you know at least a little about how Lebron James, along with Dwayne Wade and Chris Bosh, signed with the Miami Heat, thus creating the most talked-about (and Tweeted about) threesome since Larry, Curly, and Moe.  If you know a lot about what happened last week, i.e. you were completely sucked in by the ubiquitous coverage on all the major news networks, news sites, and, of course, ESPN, you know that Lebron chose to announce his joining of the mighty basketball triumvirate in a one-hour special, “The Decision.”  It was like The Bachelor, or something, for dudes. In fact, much was made before and after the announcement of LeBron’s one-hour ESPN special:

‘What a completely arrogant, self-absorbed S.O.B. to have an entire hour devoted to him.’’

‘What a complete slap in the face for Cleveland.’

‘He had to do it–it’s more than basketball–it’s the LeBron brand.’

I overheard that last comment at a bar just before the one-hour special went on from, someone who’s either a very, very wise man, or, more likely, someone who works in a communications industry.  In any event, this ‘Decision’, however you want to parse it, was a very important case-study in branding through Twitter.  I’ll tell you why.

Unlike his new teammates, Unlike his new teammates, LeBronLeBron had eschewed had eschewed Twitter, up until a few days before to “The Decision.”  After “The Decision,” Team LeBron took the  somewhat social media-savvy step in seeking feedback from their followers regarding LeBron’s handling of “The Decision.”   Obviously, Team LeBron did not have the resources or wherewithal to open up this very important, brand-saving feedback BEFORE “The Decision”, or else they would have.  The did not have the resources or wherewithal to open up this very important, brand-saving feedback BEFORE “The Decision”, or else they would have.  The media would have devoured and broadcast any pushback from would have devoured and broadcast any pushback from LeBron followers, thus indicating to followers, thus indicating to Team LeBron that they might want to scale back the hoopla surrounding “The Decision.”   Unfortunately for that they might want to scale back the hoopla surrounding “The Decision.”   Unfortunately for Team LeBron,there are discussions out there now about how he and his handlers screwed this one up, thus damaging his brand.

LeBron will probably continue to be the most explosive player on the planet.  He, Bosh, and Wade will probably bring multiple championships to South Beach. Team LeBron will probably become more savvy in using will probably become more savvy in using Twitter to promote to promote LeBron.

But for a lot of people, the damage has been done.  They’re turned off, not necessarily because LeBron left a city that reveres him–it’s a business–but because of the way in which he did it.  Had left a city that reveres him–it’s a business–but because of the way in which he did it.  Had LeBron utilized utilized Twitter to have a conversation with his followers BEFORE “The Decision,” he at least could have mitigated some of the damage to his brand.

The truth is, Team LeBron violated a new violated a new branding commandment: Thou shalt not keep one’s followers in the dark.

— Originally Published by Global Executive Board

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