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 Lights,
Camera, Congressional Hearings
Across a wide spectrum of legislative and oversight matters, Congress has broad rights when it comes to requesting information and initiating investigations. In the current climate of regulatory, public and media scrutiny on corporate performance and conduct, don’t be surprised or alarmed if Congress comes calling. Instead, be prepared and ready to participate in what, at its essence, is a unique brand of theater.
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more
Planning for Disasters
As improved technology has made it increasingly possible to predict the arrival of a disaster, employees, customers and shareholders are less likely to accept excuses for a failure to plan. Here’s how to be prepared—for almost anything.
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THE MORE YOU KNOW
Don’t be
surprised when the U.S. Marshal’s office shows up at
your door with a subpoena. Congress is charged with
the oversight of interstate and foreign commerce.
And that means, notes Jeff Heilman in this issue’s
cover story, “that if you are in business, you can
be investigated."
Don’t be surprised when a blackout, or a hurricane,
or a virus, or a terrorist attack strikes your
business—or that of a key supplier—with devastating
impact. As Patton Boggs partner Scott Weber says,
“the category of unforeseeable events becomes
narrower every day.”
And don’t be
surprised when the U.S. State Department informs you
that the products you’ve exported are on its
Munitions List, and therefore restricted (page 4).
In the post-9/11 world, that list goes well beyond
guns and explosives.
Instead, know
your risks and plan ahead. Congressional inquiries
“never arise in a vacuum,” says Patton Boggs partner
Robert Luskin, who suggests that having a
“government relations strategy” is a good idea. “As
companies understand the moral and legal obligations
they have to investors and employees,” adds Norma
Krayem, a senior policy advisor at Patton Boggs,
“not being prepared is no longer an option.” In
fact, adds Weber, being able to foresee disasters is
now “central to the analysis for senior management’s
and the board of directors’ duty of care to plan.”
So, as Krayem
says, “it’s just good business.” And not planning,
adds Weber, “can be fatal.”
Mike Winkleman
Editor
Combating terrorism through a partnership with India. Diagnostic ratios. Fundraising for Katrina victims. Internet privacy policies. ...Read more
Giovanna Cinelli explains the increase in export law enforcement. Denise Vanison and Shaoul Aslan decode immigration law. John Miller reflects on public-private partnerships.
...Read more
E*Trade Financial’s CEO talks to Capital Thinking
about the benefits of fearless customers and why his company wants to be seen as a rebel with a cause.
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WHAT DO
YOU DO WHEN YOU'RE PLANNING TO DO BUSINESS
IN A NEW COUNTRY |
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BY PHILIP KAPLAN
& STEVEN MOLINA |
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Hire a good, respected local lawyer in the target country to help you understand reliability of laws and tax regime and advise on the judicial system.
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2 |
Consider an influential, international firm to help reach a conclusion on political and economic stability and to gain access to senior officials and decision makers. |
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3 |
Work with your international consultant and local lawyer to check on enforceability of government undertakings and expatriation of profits. |
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4 |
Obtain an honest, effective, reliable business partner. |
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5 |
Do a security and corruption survey. |
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6 |
Review currency restrictions and ability to maintain capital and security offshore.
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7 |
Survey environmental, NGO and indigenous peoples issues. |
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8 |
Inquire as to alternative dispute resolution options outside of the host country. |
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9 |
Survey the country’s recent business history. |
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10 |
Always proceed with an exit strategy in place. |
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