Issue #2494
- WEALTHY: How to handle the current market volatility (Rick Pendergraft)
- HEALTHY: For tight abs, one exercise is best (Craig Ballantyne)
- WISE: Plato on doing your duty
ALSO IN THIS ISSUE:
- 2 business lessons from inside the courthouse (MaryEllen Tribby)
- Your grocery store isn’t being nice… (Suzanne Richardson)
- It’s Good to Know… about desperate measures for dry times
- Add “verisimilitude” to your vocabulary
== Highly Recommended==
This “Bailout” Could Be Perfect For YOU
If the Fat-Cat banks can get FREE MONEY why can’t you?
Here’s how a ‘robot’ could grab $1000 a day from the banking crisis for YOU!
The Market Won’t Change for You
Unusual markets call for unusual thinking. What do I mean by that? Over the course of the last few weeks, the market has been more volatile than at any time in my experience. With emotional trading at a peak, the moves in the indices have been incredible.
Because of the volatility, trading tools that I normally use are not as reliable… the timeframes I normally look at are not as reliable… correlations between investments are out of whack.
Let me explain.
Under normal circumstances, I look at daily charts for trade opportunities. Because of the extreme volatility of late, I am applying the same indicators I always use, only now I am using them on hourly charts.
For example, for the longest time I observed how the futures markets led the ETFs (exchange-traded funds). When the S&P futures and Nasdaq futures would get overbought or oversold, the Spyders and the QQQQ would then move in the opposite direction. However, over the last few weeks the futures have been so volatile it was hard to know when to pull the trigger on a trade. And it now appears that the relationship has reversed a little, and the ETFs are leading the futures.
It can be frustrating. But the market is not going to change for you, so you had better change to cope with the market you are in. You don’t have to change your ideologies, you just can’t be rigid in your approach to making trades and making money.
[Ed. Note: With the market's crazy fluctuations, it's more important than ever to keep your investing strategies simple. Market analyst Rick Pendergraft has put together an educational program that lays out the simple steps you need to take to make money in any market. Not only do you get three months of Rick's best recommendations, you also learn how to make good investment choices yourself. Get the details here.]
”I think a man’s duty is to find out where the truth is, or if he cannot, at least to take the best possible human doctrine and the hardest to disprove, and to ride on this like a raft over the waters of life.”
Plato
What’s New from the Publisher’s Viewpoint: Not Your Father’s Jury Duty Anymore
About three weeks ago, I received the dreaded notice in the mail. I immediately thought of 100 reasons why I should be dismissed and a good number of excuses for how I could get out of it.
What am I talking about? You guessed it: jury duty.
Later that evening, I complained to my husband that, with the kids and running a business, I did not have time for jury duty. His smart and simple words changed my thinking on the subject forever.
He said, “If I had an injustice done to me or if one of the kids were in trouble, I would sure want someone like you on the jury. You want people on a jury who are smart, who will listen to and understand the law, and, most important, whom you can trust to make a decision based on the facts instead of emotion.”
He pointed out that this last attribute is what I bring to my business every day at the office. For instance, when I need to hire someone, I base my decision on whether a particular person is good for the position and the company. When I have to discontinue a product, I base my decision on the viability of that product – not whether or not I like it… and not even if I had spent a great deal of time and money on trying to make the product work. And when I have to make the hardest decision of all – to fire someone – I can do it because I know it is the right thing to do.
What my husband said made so much sense to me that all of a sudden my dread turned into excitement. I started looking forward to this new experience.
So on the appointed Wednesday, I eagerly reported to the Palm Beach County Courthouse with a newfound sense of pride and determination.
While going through security, I was surprised and impressed by the efficiency and politeness of the guards. I was amazed by how smoothly check-in went – much faster than any airport security, amusement park, or movie line I have ever been in.
After a brief wait (which I used to check e-mails on my BlackBerry), I was randomly selected to go through the voir dire process. (”Voir dire” is French for “to see, to say.” Roughly translated, it means “to speak the truth.”)
Twenty-one of us got called into the courtroom. There, the judge introduced the case to us, as well as the defendant and both attorneys. First, all the potential jurors answered the same 12 questions. Then the judge – followed by both attorneys – asked very specific questions to determine who would decide the fate of the defendant.
During this process, I noticed that, as in others areas of life, some people took the responsibility very seriously while others did not. (More on that in a moment.)
“If your name is called,” the judge said, “please come and sit in the jury box.”
I sat there restlessly, wanting to be called to one of the seven chairs. After all, I took the entire process seriously and wanted to do the right thing.
When there were only two chairs left, my mind kept flashing back to the last season of “American Idol.” Wouldn’t you know it? I was the last one called.
There were moments during the trial when I secretly wished I had not been selected. Not because of the time commitment but because of the severity of the case. This man’s future was literally up to us. The sense of responsibility was overwhelming.
Now don’t get me wrong. Having a sense of responsibility is nothing new for me. I feel it every day, running a company and raising children. But to have to make the decision to send a man to prison or give him back his freedom was new for me.
We are all human – and I will freely admit there have been times during long meetings or when listening to friends go on and on about their husbands or work that I have zoned out. But given what was at stake here, I vowed that I would listen intently and consider all the evidence put before me.
And I did that for five hours.
When the testimony was complete, the judge gave us explicit instructions. And when we got to the jury room, I was nominated to be the foreperson. It took us only an hour to make our decision: We found the defendant not guilty. It was clear to us that the state had not proven its case beyond a reasonable doubt.
It saddened me to think that there are many countries in the world where this man would not have received a fair trial – where he would have been thrown in prison based on the little evidence there was.
It also made me very proud. Proud that at a time when some people believe it’s fashionable to hate everything American, we have a system that presumes a defendant to be innocent until proven otherwise.
As I drove away from the courthouse that evening, I was happy that I had gone through the process. I was happy about our decision. But, mostly, I was happy to get back to the office the next morning.
As you already know from reading my articles in ETR, I try to learn something from every new experience. And jury duty was no exception. I found two valuable business lessons inside the courtroom that day.
Lesson #1: 5 things that you should be doing for your customers.
As I said, I was surprised by how smoothly the check-in process ran. But it was the orientation that really interested me as a marketer. This included a live presentation followed by a five-minute film. In both presentations, the court made the following points:
- They thanked us profusely up front.
- They emphasized the importance of being a juror.
- They broke down the jury selection process into concise steps, so we knew exactly what to expect for the day.
- They gave us many suggestions for what to do at the courthouse while we were waiting to be called.
- They provided clean, comfortable waiting areas – including a quiet room with computers, books, news and lifestyle magazines, as well as puzzles. There was something to interest just about everyone.
I immediately thought of how this could be related to business. Take a second to think about your own business… and ask yourself:
- Do I thank my customers when they buy my product?
- Do I emphasize the importance of their purchase?
- Do I give them clear instructions on using the product?
- Do I make suggestions for what they can do or accomplish with the product?
- Do I deliver the product in such a manner that it excites my customers to use it?
Lesson #2: Attitude is everything.
After the voir dire process was complete, we were asked to step outside the courtroom so the judge and attorneys could decide on the jury. I was happy to have this opportunity to speak with my fellow potential jurors – especially the people who clearly did not want to be there. And it appeared that those who had given answers that they knew would keep them from being picked for the jury were the same ones who did not take either their careers or relationships seriously.
“Jen” told me that she did not want to get picked for the jury because she would rather go back downstairs and watch the free movie they were showing. Then she commented that spending the day at the courthouse was better than going to work.
“Peter” told me he would rather sit around the courthouse cafeteria all day instead of spending the day with his wife.
It was amazing to me that though these people knew they would have to spend the entire day at the courthouse even if they weren’t picked for a case, they still did not want to get selected. So I pressed further to inquire about their individual careers.
Jen told me she was a marketing manager for a local research firm. (Turns out it’s a medium-sized company that I know.) She said that she liked her job okay, but her boss kept passing her up for promotions. Gee, I wonder why, Jen.
Peter was retired but he had been a print salesman back in New York (with three-hour liquid lunches). He said that in the good old days it was easy to fool his customers into paying more for his printing – even though, by his own admission, the product was not worth the price. He revealed that he would sell them “extras” he knew would make no difference to the quality of the printing job.
I finally spoke to “Karen,” a young women who was not only a hairdresser but who owned her own salon. She told me that when she received her jury duty notice, she immediately called her clients to re-schedule their appointments. She even stayed late in the evening the two weeks before jury duty to accommodate those clients. She also told me that she had asked her husband to take a personal day off from his job so he could run the salon in her absense.
What can you learn about business from my little chats with Jen, Peter, and Karen? It’s simple.
If you feel the way Jen and Peter do about their jobs, quit. You’re not doing yourself or your employer any favors by staying. And if you have employees like Jen and Peter – and, believe me, you will recognize them – fire them. It’s never fun to fire people. But your business will benefit. Instead, look for people with Karen’s work ethic and attitude.
[Ed. Note: You can find lessons that will help your business grow almost anywhere you look. Fortunately, you don't have to look far. MaryEllen Tribby and Michael Masterson have written a book made up of their combined 60+ years as marketers and businesspeople. You can benefit from their vast experience without going through your own years of trial and error. The book is being launched this coming Tuesday - so keep reading ETR for details about where and how to get your copy.
In the meantime, let us know what you've gotten out of jury duty. Did you learn any unexpected lessons? Tell us right here.]
Building Wealth Online Is Just Like Riding a Bike
Remember the first time you tried to ride a bike? You’d spent your life missing out until then.
But once you got on that bicycle… you felt a special moment when suddenly, the magic happened. You were free! Since then, you’ve never “unlearned” that knowledge. Doing it again is easy… automatic… instinctive.
That’s how it feels once your first Internet income stream is up and running. The magic hits you… the next one is even easier… the rest are almost automatic.
One man I know turned $10 into over $500,000 this way. Let me show you how you could get a similar Internet income stream started for almost nothing.
- Charlie Byrne
ETR Associate Publisher
Would You Like to Try a Sample?
I love going grocery shopping on Fridays. That’s the day my local Wegmans sets up half a dozen “sampling stations” throughout the store. As you shop, you can nibble on tiny bites of aged pecorino… soy chips… dry salami… pasta… protein bars… and wash it down with a thimble-sized cup of green tea… pomegranate juice… or lemonade.
Is Wegmans doing this to try to keep my blood sugar high while I shop? Of course not. They offer samples to influence shoppers to buy those products.
It’s a tried-and-true marketing strategy.
In fact, according to an Arbitron “Product Sampling Study,” samples can be a big help when it comes to selling a product. Thirty-five percent of the study participants claimed they bought a product after sampling it – the same day. Even more impressive, 58 percent said they would buy the product they’d sampled in the future.
Of course, these numbers don’t reflect what actually happened. There could be some variation between what the study participants said they did or would do, and what they actually did or will do.
So should you offer samples of your product? And if so, will the sampling increase sales?
The only way to find out is to test.
Break your customers into two segments. Offer half of them a sample, and monitor the results. If the sampling increases their buying behavior, and if it makes sense for your bottom line, go for it.
[Ed. Note: Testing is one of the keys to making profitable marketing decisions. You can learn the details behind testing - and what NOT to test - in Changing the Channel, the new business-building book co-written by Michael Masterson and MaryEllen Tribby. Find out more about this breakthrough business manifesto right here.]
Battle of the Ab Exercises
To get six-pack abs, most people think they’ll have to do hundreds of crunches. But crunches involve spinal flexion (rounding forward), and research shows that spinal flexion can lead to herniated discs. Knowing this has sent me on a long and exhaustive search for safe and effective ab training.
Last week, I stumbled onto a new study supporting my “ab crunch ban” and my preference for exercises such as the “side plank.” In this study, researchers examined six common ab exercises performed by 120 subjects to see how hard the muscles were working.
When compared to other common ab exercises, the side plank and the classic abdominal crunch both resulted in the greatest change in muscle thickness for the transverse abdominis and internal oblique muscles (meaning they were contracting the muscles more than the other exercises). However, because the side plank does not involve spinal flexion, and because it builds abdominal endurance (previously found to be associated with less low-back pain), the side plank wins this exercise battle hands down.
If you are looking for a new move to add to your total-body fat-burning workout, the side plank is the way to go. To do it, lie on your right side. Bend your right arm at the elbow and stack your left foot on top of your right foot. Supporting your bodyweight on your right forearm and your right foot, raise your body in a straight line. Your butt and thighs should hover a few inches above your mat. Keep your back straight and your hips up. Hold your abs tight, but breathe normally. Beginners should hold this position for 15 seconds on each side. Try to hold it a little longer with each workout. For advanced core strength, hold for 45 seconds per side.
[Ed. Note: If you think sit-ups and crunches are the best way to get a flat stomach, you've fallen victim to one of the most common fitness myths around. Discover 5 more myths about exercise - and how to combat them - right here.
And for a free source of fitness ideas, nutrition tips, and motivation, sign up for ETR's natural health newsletter.]
It’s Good to Know: Desperate Measures for Dry Times
California is suffering from the second straight year of a drought. So far, the result has been $260 million in crop damages and 80,000 acres of farmable land left to grow wild.
It’s possible to find water hidden underground with costly seismic studies and electromagnetic imaging. But there’s a cheaper (and much less scientific) option that many California farmers have been trying.
Dowsers, or “water witches,” walk across the land holding a forked tree branch. They claim the branch bends or pulls when water is underfoot. If it happens three times in a row at a particular spot, they recommend that spot for drilling.
Scientists are skeptical of the “art” of dowsing, but those who have seen results are believers. A California well driller, a Mr. Hennings, told The New York Times: “How they do it is beyond me.” At a recent job, he drilled five test holes in dowser-selected locations. And four out of the five hit pay dirt – water, that is.
(Source: nytimes.com)
== Highly Recommended ==
Stuck With the Short End of the Stick in Life?
Life is unfair, but it’s not for those “in the know.” Quit getting shafted at every turn and instead start enjoying every advantage in most situations. See for yourself by clicking here…
Word to the Wise: Verisimilitude
“Verisimilitude” (ver-uh-suh-MIL-uh-tood) – from the Latin – is the quality of seeming to be true or real.
Example (as used in the Economist): “The old man’s massive forehead, penetrating eyes and enormous beard lent verisimilitude to this unappealing portrait.”
[Ed. Note: Become a more persuasive writer and speaker ... build your self-confidence and intellect ... increase your attractiveness to others ... just by spending 10 VERY enjoyable minutes a day with ETR's new Words to the Wise CD Library.]
Copyright ETR, LLC, 2008
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India no more has the Jury system. But Court duty is still an interesting occasion for learning something or the other. Many years back, I was summoned ONE day through a very elaborate process to be present at the Hon. Chief Justice’s Court to help interpret an Accused’s statements into English or Hindi, from my native language ,Malayalam.
On arrival at the Court premises, I went through the process of verifying my identity and was given a short brief that the Accused knows only Malayalam and that the Court has summoned me to help the Court understand the version of that person in the case.
We then eagerly awaited the arrival of thr Hon.CJ.
At the appointed hour, the CJ occupied his seat and looked around for the Court officials to read out the order of events for the day.
As the particular case was read out, the Accused was escorted to the BOX. Quite casually,the Hon. CJ remarked in Hindi,” It is quite hot to-day morning.” and then turning to the Accused, he asked , “are you feeling comfortable?”
Before he could realise what was happening, he responded, “Yes,Your Honour”
Turning to me , the CJ said, ” he has spared you the trouble of providing the interpretation!”
The wise Judged had fathomed that the request for an interpreter was a ruse to GAIN TIME FOR PLANNING AND REHEARSING REPLIES!
“Proud that at a time when some people believe it’s fashionable to hate everything American, we have a system that presumes a defendant to be innocent until proven otherwise.”
Unless you’re a suspected terrorist, of course, in which case welcome to Gitmo, you may be here some time and by the way we won’t be telling you exactly what you’re accused of, or who is accusing you, or what the evidence is, and there won’t be a trial unless we feel like it.
Objecting to the loss of our traditional liberties and the erosion of the finest system of justice isn’t hating everything American–quite the opposite.
I appreciate you sharing your observations and converting them to business models. My wife has been asked to serve as a Juror several times. And has never been turned away during the selection process. She loves it! Cheryl has mentioned several times that if jury duty was an occupation… she would love to do it full time. In fact… she has even participated in mock trials where attorneys practice their legal skills behind closed doors on cases that have already gone to court. – GFB3
MaryEllen,
Wow, what a different experience than mine.
I live in NYC and my call was to jury duty in the Bronx. We were welcomed into a vast, drab room with rows of plastic seats occupied by some 400 or so people. There were flat panel TVs, but not necessarily working ones. No reading materials and the computer room was “broken,” as was my seat.
And, after we all settled in, the gentleman at the front of the room gave a 20 minute, lifeless, downtrodden recitation of the process and revealed why every excuse to try to get out of service wouldn’t work, capping it off by a statement of relative glee at his impending retirement.
I felt sad for the guy, he’d clearly been doing this for a long time, it was mechanistic work for him, he couldn’t have cared less about the people in the room and it showed.
Scary thing is, just as you’ve recommended lessons from your experience to business owners, I too would have lessons for business owners from my experience, but they’d be about what NOT to do, instead.
Thanks for sharing this.
When I was called to jury duty I went gladly, too often the fate of others are left to people who do not care or are uninformed. I took donuts in every trial day and thus secured my position as jury foreman. In the jury room I established critera for evaluation the case, broke the case down into sections that could be discussed, then we voted. If there were any disagreements we re-examined the issue from a diferent prespective. I have now been foreman three times and it is still a great experence to serve my community.
I enjoyed the article on jury duty very much, and appreciated Mary Ellen’s insights. I’m just wondering why she would criticize people like Jen and Peter for trying to get out of jury duty, then turn around and endorse a publication like “Unscrewed”, which will tell you how to get out of jury duty! Isn’t that just the tiniest bit hypocritical?
I find the article written by Mary Ellen to be extremely well done. It did remind me of my own experience to serve one time many years ago while working in Kalamazoo, Michigan. Although I did not get called to serve, and my time waiting at the court house was restricted to two days of waiting for such a summons, it did give me time to reflect upon and discuss with other potential jurors, just what our role could be if called upon. The cross-section of of my fellow jurors-in-waiting was essentially similar to what Mary Ellen experienced. My experiences during travel to some other parts of the world have given me the advantage to observe and see what we here in the good old USA take for granted so much of the time. That is how extremely fortunate we are to enjoy the freedoms, rights, and privileges we do. We take them so much for granted, we are in danger of losing them due to citizen inactivism. People in many other countries I have visited would give almost anything to enjoy what we so casually take for granted. Serving on a jury could be a significant journey “outside the box” of our immediate comfort zone and a very important learning experience if we only embrace it and look upon it as a sacred duty instead of an imposition on our daily lives to be avoided.
Mary Ellen,
I sure hope you had a back up plan in case the judges instructions were wrong. What i an talking about is your right of “jury nullification”. The case you were on is a perfect case of where someone has everything on the line and IF the court or the judge has an agenda may lead you down the wrong road. An excellent national case of note was the case of the border agents Ramos and Compean. Many of the jurors when interviewed after they were convicted realized they had made a mistake and sent 2 innocent men to prison who were railroaded by the court system and the government. If you have never heard of “jury nullification” I hope you will investigate it. Doug Casey the financial author etc. wised me up regarding this.
Best regards,
David Pruitt
Greenville SC
Hi MaryEllen,
I love your article!! I like especially the part on the reason for doing jury duty. Your husband is wise man. That’s best reason I have ever heard for doing jury duty.
I did jury duty about a couple of months ago. This is actually the second time doing jury duty. At first I didn’t want to do it because I was the only one working and when I don’t work I would have to use my vacation days to serve which would deprive me of time with my family. My company does not pay me for being on jury duty. Anyway, I always knew that it was an important duty but I never had the right reason until I read your husband’s assessment of the importance of doing jury duty. That reason alone is sufficient for me to raise my willingness to do my civic duty. Thank you for that.
I agree with your assessment with those jurors Peter and Jen who were “not with the program” in their duty and their work. A friend of mine said that sometimes regrettably you have to come to terms with this situation: You can’t fix stupid!!
Crude advice but to the point.
Thank you for a wonderful article. I’m looking forward to reading your new book!!
Best,
Bruce
Dear Mary Ellen,
I see a number of differing responses to your story here. For myself, the jury selection process was more like being welcomed to jail. No one was pleasant, no one was welcoming. And, I had an agenda to try my best to get out of doing this “onerous” duty. That is, until I was called into the chambers and heard what the charges were against the defendant. I quickly looked around the room and saw faces that all were “too busy” to care about the rights of this defendant to a fair trial by a jury of his peers. I realized that he deserved the best trial that he could get, regardless of the severity of the accusations against him. I responded to all the questions by both lawyers very honestly. In the end, I was selected by the judge to be an alternate – the defendant’s attorney thought I was too “law and order”. I remained after the trial during deliberations, even though I had been excused to leave. I was approached by the defendant’s lawyer who asked my opinion of the trial and what he could have done differently. I was treated with a great deal of respect by the bailiffs and judge. All in all, I too, was very impressed with the system that we have. No, it is not perfect, but it is the best system in the world and it is ours. God bless America!
I am morally opposed to jury duty. If you follow the teachings of Jesus Christ then you would be too. I cannot commit to jury duty because of this however no one cares. I can do civil cases although it bothers me but not criminal. I recommended they provide a questionaire for people like me but they don’t care.
I understand they now have police doing civil cases. How appropriate. Why can’t I?
Key point here is it is a moral, ethical, religious reason.
Thank you for your article Mary Ellen. While I have not been called to jury duty your lessons learned and shared were incredibly eye-opening and beneficial. When I am called to duty I will remember your experiences and take your same mindset.
Thank you for taking the time and effort to gain such valuable insights. I appreciate all you shared with us!
With appreciation,
Lara Kay Loest