David Jacobson's External Insights

Bank-customer communication and blogs

Whilst I have been aware of Savings & Loans credit union's blog for some time, the Better Banking Blog has drawn my attention to RaboPlus's Executive Blog and its demonstration of the value of interactive communication with customers.

In the comments section on a post about Westpac's online banking downtime, RaboPlus's Head of Financial Services for  Australia and New Zealand receives comments both about his site's own downtime and design and responds to both quickly receiving praise from the commenters.

There's no point in being defensive: if you're open about problems and show that you'll respond to  comments you'll attract a favourable response.

Blawg Review #136

You don't believe in globalisation? Peter Black from QUT is this week's Australian host of Blawg Review #136 , prepared while the Americans were celebrating Thanksgiving.

It offers a great variety of law-related posts plus that wonderful time-killer, videos.

Australian Blogging Conference: Business and corporate blogging

The Australian Blogging Conference  had 2 excellent business-related sessions.

In the session on Business and Corporate Blogging, over 2 hours we considered issues such as

* Can businesses afford not to blog?
* How do you measure Return on Investment?
* Should the CEO blog?
* Should PR and/or Legal vet all blogs?
* How do you find enough to write about?
* How do you handle negative comments?
* Blogging Codes of Conduct

We were lead by Des Walsh,  Nick Hodge (Microsoft) and Joanne Jacobs.

Even if your company isn't blogging, what are your employees doing? Do you understand the difference between a bloggers' policy, a blogging policy and an acceptable use policy?

See some sample blogging policies here.

Yes, there is a return on your investment. And as a bonus a blog is a great knowledge management tool and disseminator of information within organisations and externally to stakeholders.

In the session on promoting your blog and building traffic, we shared tools we are using with feedback from Yaro Starak.

Lots of good ideas: try submitting your post to Carnival of Australia.

PS See here for my thoughts on other sessions including the legal issues session.

UPDATE 1 October: Des Walsh wraps up the conference here with links to other reports.

UPDATE 3 October: notes by Michael Rees

UPDATE 5 October: 1 week later and the value of the conference is sinking in. Des Walsh links to more reports from all the other sessions I missed. A great Australian link resource!

Australian Blogging Conference

If you're interested in how blogs, podcasts and videocasts can help your business, attend the Australian Blogging Conference on 28 September. It's free!

Report to my readers

After 406 posts (individual entries) on this blog (the first was on 14 July 2004), I have decided to do a redesign.

The first change you will see is that External Insights will no longer be the default page for my domain name www.djacobson.com. That honour will now go to Australian Regulatory Compliance Review which has overtaken this blog in reader interest. But External Insight's URL will remain at http://www.djacobson.com/external_insights/ (go there and bookmark it now, in case this is what you came to read!). The RSS feed will not change.

Archives will continue to be available (by search or by Category).

Thank you for reading (and tell your friends and associates).

Spring-loading, bullet-dodging and other option terms

Hearing a new expression twice in one day is the start of a trend: first up I heard mention of "spring-loading" in a discussion on executive remuneration on ABC NewsRadio (I think it was in the context of a discussion about executive salaries and backdating options in Germany related to problems with BenQ-Siemens) and then I found a discussion on new corporate terms (including spring-loading) on Corporate Blawg UK.

So what does it mean?

"Spring-loading is when a company brings forward an option allocation date so the holder can benefit from anticipated rises in the share price.
Bullet-dodging is the opposite, when the company delays the grant of an option so the owner can benefit from an expected fall in share price. "

If you're interested in more of what is happening in Europe, read Blawg Review#78 hosted this week at Britain's Human Law.

UPDATE: Bob Joss on executive salaries (The Australian)

Blawg Review #66

G'day. What took you so long to get here? (It's Australia, not Austria!)

This week there’s some surprising news from the lawyer who is credited with creating the word "blawg" as well as stimulating posts from new and well-established bloggers from around the world.

Blawg Review is a weekly carnival of law-related blogs. And Blawg Review #66 is special because it is the first time Blawg Review has been hosted by a non-US host let alone someone from Australia or even the Southern Hemisphere.

A little over 2 years ago I left a legal practice that I had spent 27 years helping to grow: it was gut-wrenching at the time but I found that writing and reading blogs helped me focus and re-focus on what I really wanted to do . Do I love what I'm doing? Absolutely. I'm a solo and I work from home on corporate advisory matters with clients I like. If I had $20 million and 10 years to live would I still do it? Good question but I'm not likely to walk the Kokoda trail.

I believe that diversity is important, so let's start.

News of the week

I have always admired the wit and knowledge of Denise Howell so the news this weekend that she has been fired by expanding global firm Reed Smith is surprising (but she's not throwing tomatoes like Amanda Congdon did at Rocketboom). In a long post Denise explores her feelings and touches on themes that I believe are important if professional service firms (not just lawyers) are to be successful in providing value to their clients as well as providing satisfying careers and work-life balance for their staff (particularly women). Ernie the Attorney, Dennis Kennedy and Gerry Riskin all support the Love Filter approach. Whatever the reasons for the separation, I suspect that her employer will later realise it has undervalued Denise's contributions.

Sometimes life's going to hit you in the head with a brick. Don't lose faith. (Steve Jobs).

Last week a class action for $1 billion was commenced in Washington by US farmers against Australian company AWB Limited over its involvement in the UN Oil for Food Program. Want to know more about the Cole Inquiry into AWB? Start with my Squidoo Lens.

Australians love sport and last week we joined the rest of the world watching the World Cup soccer final especially the sending off of French star Zidane. A French lawyer says he’ll go to court to order a replay . (Here's some replays, for him.)

The Socceroos got to the second round of the tournament. How far did USA get? ;-)

Bill Heinze at I/P Updates says TGIF for the end of World Cup Soccer

Work/life balance

Arnie Herz at Legal Sanity comments on a post by Ernest Svenson in "lawyering and growing through self-revelation".

One of my own favourite past posts is One year on: you've got to find what you love , with thanks to the speech of Steve Jobs quoted above and the positive thoughts from Curt Rosengren.

Bruce MacEwen at Adam Smith Esq says Don't Let Your Firm's "Core Values" Inspire--Cynicism

Does The Devil … Draft Interrogatories? . I don't know, but in Australia at least one lawyer thinks Hell has Harbour Views.

And to put it all into context, Australian economist Andrew Leigh discusses the startling relationship between death and taxes and asks "does taxing death discourage it?".

Global

Anupam Chander is Professor of Law at the University of California, Davis. His research focuses on the regulation of globalization and digitization. He discusses Gitmo and the Search for a "Lawless" Zone--like Outer Space

Professor Joseph Scott Miller at The Fire of Genius points to this week's issue of The Economist which  has three fun pieces. All of them focus, in one way or another, on Internet-centered phenomena, including The Long Tail.

Professor Glenn Reynolds at InstaPundit hosts The Glenn and Helen Show: Interviewing Chris Anderson About the Long Tail

The Berkman Center for Internet and Society at the Harvard Law School hosts a round-up of international bloggers at Global Voices Online.

Privacy is a global issue and the Canadian Privacy Law Blog recounts the story of a victim of a data breach.

Canadian Law Professor Michael Geist refers to a new study on employee workplace surveillance.

Asian blogs make up a big part of the blogosphere these days but as close as Australia is to Asia we are still predominantly English-speaking. To give you a glimpse of the cultural differences here's a post from Singapore Law Blog on a partnership between three Gods and a law firm.

Creativity and technology

At Bazpat, Brisbane patent attorney Barry Eagar discusses software patent issues covered at his recent ABA presentation and trip to the USA.

At Weatherall's Law, Melbourne Professor Kim Weatherall continues her posts about the Australia-US Free Trade Agreement by discussing the Oz version of the the Digital Millennium Copyright Act  and the Australia-US Free Trade Agreement . She also contributes to group blog Law Font.

Marty Schwimmer looks at trademark issues in virtual worlds.

QUT Lecturer Peter Black at Freedom to Differ follows some of the debate about US Senator Stevens observation that "the internet is a series of tubes" (discussed in this Jon Stewart video).

And Justin Patten at UK blog Human Law  says legislators don’t know enough about the internet and technology.

Next week's host Antitrust Review points to a primer on net neutrality.

Ron Coleman at Likelihood of Confusion discusses a fight between Louis Vuitton and Dooney & Bourke over handbags.

Israeli Patent Attorney (and magician) discusses the copyright implications of removing sex and bad language from films in the IP Factor.

The Orange Rag (UK) links to resources from Legal Technology Insider.

Have a Blaugh at a cartoon about Friendster.com being  awarded a patent on managing real-life relationships.

Professional firm management

Matt Homann at the [non]billable hour discusses "the top 10 things they never taught me" and May I Help You With Anything Else .

David Maister is bemused that you can innovate by standing still, that "best friends" are now accepted as an innovative option to a global partnership.

The Marcus Perspective reviews changes which mean that tomorrow’s law and accounting firms will be substantially different from the professional firms of the last 100 years.

Blogging

If you've got this far and you're interested in blogging then I recommend these links:

• Corporate Engagement on the new Australian text Uses of Blogs
• blogging basics from Dennis Kennedy
• Australian Darren Rowse on the A-Z of Professional Blogging

Thanks for visiting

Blawg Review has information about next week's host, and instructions how to get your blawg posts reviewed in upcoming issues.

Photocredits: Anna Jacobson (Disclosure: Anna is my daughter).

Blawg Review goes international

I am delighted to announce that next Monday I will be hosting Blawg Review #66.

Blawg Review is the blog carnival for everyone interested in law ("blawgs" are weblogs about law). A blog carnival is a travelling post about a topic or theme. For example, there's Carnival of the Capitalists, concerning business and economics, while Grand Rounds is about medicine and healthcare. Blawg Review has topics discussed by lawyers, law students and law professors. The carnival has a different host on a different weblog each week.

Whilst I am the first non-US Blawg Review host, I am hoping that the attention I will give to law blogs of worldwide interest is not a special theme for one day. In fact this week's Blawg Review #65 started the international theme. And I will add my own special perspective! Please come back for Blawg Review 66.

In the meantime, if you are a non-Aussie visitor, you can get yourself in the mood by looking at the view east from Australia to US and listening to some samples of the Rolf Harris approach to music (with the didgeridoos) or some Midnight Oil (Peter Garrett is now a Member of Parliament) or  modern traditional Yothu Yindi.

Photocredit: Anna Jacobson

Business and Web 2.0

Businesses are looking at the "next big thing" on the internet. It's called Web 2.0 but already ownership of that term is in in dispute, so let's call it collaboration and interactivity.

It's transforming the internet to the extent that traditional media companies are looking over their shoulders at what businesses are doing amongst themselves, without intermediaries.

In this podcast (mp3) Peter Day from the BBC discusses where it's all leading  and what established businesses need to know.

See Tom Peters' short video Brawl With No Rules (top of right hand column of linked page)

Corporate blogging

Business Sunday had a good introduction to corporate blogging last weekend although it did not seem to be much of an advance on The Bulletin's article last year.

The Bulletin offered these rules which I still like:

1. No financials

2. No secrets

3. No bagging

4. Don’t host blogs on your own servers

5. Be honest

6. No phonies

7. Update!

8. Remember that what you write will end up in Google forever

Discuss: A Blogger in their Midst

Links: Corporate Engagement, Frankarr

UPDATE 7 March: Business Blog Consulting comments on the Business Sunday program here. I have to agree with Des Walsh that the piece would have finished on a flat note but for Frank Arrigo's closing comment. The two professionals interviewed were from international firms Deloittes (accountants) and Baker & McKenzie (lawyers) who both were quoted expressing concern about controlling blogs for compliance and liability.

Denise Howell's post in Between Lawyers restores some balance: there are other forms of communication that are more likely to expose a business to risk. I think that anything in writing (such as blogging) is likely to involve more care and thought than say a discussion in a bar or on the golf course .

Communicating with customers: blogging about your business closure

I am an advocate of using blogs to communicate with your customers. But I have just come across the first example of a business owner using his blog to tell his customers that he has closed down and to tell them how they can retrieve their goods.

Ifulfill was an internet fulfillment house (they deliver goods you order over the internet). In the owner's blog he confirms the business has closed, posts FAQ's and answers and offers suggestions for alternative suppliers (via Business Blog Consulting).

It's not clear whether the business is insolvent or not but here's the owner's explanation:

"The question everyone wants an answer to: what happened?

In a nutshell: rapid growth and undercapitalization. In other words, not enough money to grow as fast as we did.

So why didn't I give 30 days notice? I've spent 6 years building this company. We've had many problems and many successes. The entrepreneurial spirit dictates that you solve whatever problems you are faced with. I've always tried to do that; sometimes more successfully than others, but you have to have faith and believe that you can solve whatever comes your way if you're actually going to tackle the problems you encounter.

But then a point arrives where you have to finally throw in the towel. Until that moment however, you maintain the same faith and continue to believe that you can work out problems."

Interestingly he's left on the ability to make and read comments to his blog so you can see his customers' worry and concern.

It appears that it's an orderly wind down with the co-operation of his landlord.

UPDATE 6 August: Business Week has the full story and here's the consultant's response.

An insider's account: crisis management in the boardroom

As a lawyer and adviser my prime obligation is to keep confidential information about  my clients confidential. I won't write anything here that compromises me or my clients.

So when I read My 16 days on the HealthSouth Board by Betsy S. Atkins (pdf) I thought that it was an article that could give directors and managers an insight into the many strategic, financial and operational decisions that needed to be made in a crisis situation.

It's written by a lawyer who accepted a directorship of a major US health services business 1 day before the CEO was charged with massive fraud.

It's a blow by blow account of what happens in a boardroom when it finds out that its accounts may not be correct and its CEO and major shareholder is under criminal investigation.

Whilst some of the board processes it describes are US specific, I like the way it describes the issues that needed to be be addressed, the way that information was collected, alternatives identified and the decision making process in a crisis in order to keep the company stable and solvent.

The article also clearly identifies the regulatory mess businesses can get caught up in.

POSTSCRIPT: The CEO was subsequently acquitted and is fighting to get his job back.

About blogs: just harvesting?

I was recently asked whether this blog was really just "harvesting"?

Yes and no. The internet is by definition a network, a series of links. What makes it, and blogs, so interesting is the ability to collect and comment on links in your particular area of interest.

And hopefully along the way share my own thoughts which others might find of interest.

In addition blogs permit comments. Comments start conversations and ideas flow.

Blogs allow me to write. And writing a blog allows me to understand the technology they are based on.

Collaboration. Networking. All necessary for business.

Carnival of the Capitalists

Each week a selection of  business and economics writing is posted on a different host site.  This week's Carnival is categorised by listing the questions that the articles answer, ranging from "Top ten tips for corporate naming" to"What do Herb Gardens have to do with organisational structure?"

Check it out!

Business blogs

I last discussed corporate blogs here.

Now The Bulletin has published an article on the topic from an Australian perspective. It  points out the positives of letting employees blog, provided they obey certain rules.

CNN Money talks about employees who have been sacked for blogging inappropriate comments about their employer.

It  says:

For companies, the growing popularity of blogs is a double-edged sword. On the one hand, corporate managers recognize the power of word-of-mouth as a sales tool. On the other hand, they're acutely aware of the dangers inherent in the rapid and widespread dissemination of company information.

Internet Week says Blogging About Work Is Risky Business.       

I endorse the Bulletin's  rules :

"1. No financials

2. No secrets

3. No bagging

4. Don’t host blogs on your own servers

5. Be honest

6. No phonies

7. Update!

8. Remember that what you write will end up in Google forever"

UPDATE: 12 March 2005: How Technorati handled a problem with an employee blog.

Corporate Blogs

There has been a lot of discussion about the value of blogs as a means of businesses communicating with their shareholders and customers. See here and here.

Recent articles in Fortune (Want Truth in Advertising? Try a Blog) and IR Web (Why Corporate Boards Should Blog) are worth reading to understand how critical feedback from blogs can be a valuable business advantage.

And this blog? I hope it's contributing to a conversation about business, technology and the law with an Australian perspective: it's  an australian blawg (or is it an australian business blog?)      .

UPDATE: Here's the book proposal for The Red Couch on corporate blogs (an interesting read itself).

Corporate blogging

Weblogs are getting broader community awareness in Australia: the ABC had a talkback on social and political blogs and now the Financial Review (via Trevor Cook) has covered corporate blogs.Lawyers Weekly, believe it or not, ran an article on legal blogs (blawgs) in February!

I'm currently working with a client using Edit Me as a corporate team building and internal communication tool.

On the conservative side, I've previously linked to this corporate blog case study and this post on whether companies need a standard weblog employee policy.

Employee Weblogs Part 2

Further to my recent post, I note that a Case Study on blogging has been published in Harvard Business Review called "A Blogger In Their Midst" which is a (fictional) "case study" about a CEO who is perplexed by a blogger known as Glove Girl. who's spilling secrets, drawing bigger crowds at industry events and happens to be on his payroll.

Employee Weblogs Policy?

Even Bill Gates endorses weblogs for Microsoft employees, so do employers need weblog policies?

In this post Ross Mayfield discusses his frustration with the lack of a legal framework for innovative technologies:

" What's missing is a standardized weblog employee policy. Today, major tech companies like Microsoft and Sun are embracing external blogging and beginning to realize its benefits. Right now many companies are considering similar moves, but are held back by what they see as a legal grey area. "

Dave Pollard describes the benefits of using blogs in business.

Welcome

Jacobson Consulting Pty Ltd is now official. I am maintaining a part-time consulting role at Gilshenan & Luton but will extend to non-legal work in my consultancy. I've started off by doing a short course for myself at UQ...more on that later.