As this column publishes, I will be just days past my first anniversary as the CEO of CUES. I’m not a new guy anymore, but I am still very close to the idea of just how important and critical a leadership transition can be for an organization.And I’m not the only one who’s thinking about the importance of succession planning in the credit union industry.CUES has recently been researching the future landscape of the credit union system. In interviews with 40 credit union executives, association leaders, vendor representatives and other business leaders, we’ve heard repeatedly that credit unions simply aren’t prepared for the coming surge in retirements. Additionally, many people are afraid that hiring from banks will affect the culture of credit unions.The reason for this concern is supported by several studies, including one done by D Hilton Associates Inc. This research indicated that in the five years following 2012, 6,100 C-suite jobs will turn over at credit unions with more than $100 million in assets.That’s a lot of predicted change that raises a lot of big questions: Who will fill those slots? As an industry, what are we doing to develop talent in our middle management levels so—as much as possible—that talent can move up? Certainly we’ll have some leaders come from outside, but it’s clearly also healthy to invest in current staff.It’s also clear that credit union leaders are on this already. An indicator of this is that all three segments of CUES’ CEO Institute have sold out early in the last few years.Even with a CEO transition just a year behind us, the CUES Board and I will be taking a hard look at CUES’ succession plan in 2014. Here are some thoughts to build on as you look at your own.1. Develop more than one individual who shows potential. Succession planning is like sales pipeline management. If you want to meet a goal of “x” dollars in sales and you anticipate closing 20 percent of your current prospects, your pipeline of business needs to be five times your final sales goal. Translating that to succession planning, you need to develop more than one individual for the openings you foresee coming up in your organization. If several people are on an upward track, you’ll have more choices when the time comes to select a new leader. Sure, you risk that the executives and managers you’re developing will get hired away, but you have to understand that as part of the process.2. Consider training for skills beyond the day-to-day basics. Credit union leaders need to know lending, call center operations and marketing. But that’s just the ante. They also need to know how to lead, think and innovate. CEO Institute has been developing leaders’ organizational leadership thinking for years. CUES’ new Strategic Innovation Institute™ (launching this fall at MIT and continuing in fall 2015 at Stanford) will extend that. Executives who can lead and innovate will be of benefit to credit unions, regardless of turnover. They will also have deeper potential as emerging new leaders, as their thought processes need to be ready for the ever-changing future.3. Consider working with someone who’s done it before. CUES Supplier member and strategic partner DDJ Myers has extensive experience in helping credit unions develop succession plans and in executive coaching. 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Charles Fagan Charles E. “Chuck” Fagan, III is President and CEO of PSCU, a credit union service organization that leverages the cooperative model to better serve credit unions and their members through … Web: www.pscu.com Details
by: Brandon BoglerRetailer data breaches that continue to expose millions of card credentials have increased public attention on cybercrime and data security. Not surprisingly, the high-profile incidents also shook consumer confidence in retailers.Fortunately for financial institutions (FIs), the majority of consumers still trust them more than almost any other type of organization to protect their data, according to a new study by ACI Worldwide and Aite Group.The report, Global Consumers: Concerned and Willing to Engage in the Battle Against Fraud, found 58 percent of the more than 6,100 consumers surveyed believe FIs do a better job of safeguarding data than retailers, governments or law enforcement agencies.Not surprisingly, given the number of recent merchant breach announcements, retailers garnered very little consumer trust when it comes to data security. Specifically, only 55 percent of respondents said they think stores they frequent deploy security systems of any kind to prevent data breaches. Also, 29 percent said they don’t trust retailers to protect their personal and financial data from criminals. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
LinkedIn Pinterest Share on Twitter Share Share on Facebook Email For the study, researchers looked at the effects of both THC and cannabidiol (CBD) on rats’ willingness to exert cognitive effort.They trained 29 rats to perform a behavioural experiment in which the animals had to choose whether they wanted an easy or difficult challenge to earn sugary treats.Under normal circumstances, most rats preferred the harder challenge to earn a bigger reward. But when the rats were given THC, the animals switched to the easier option, despite earning a smaller reward.When they looked at the effect of CBD, an ingredient in marijuana that does not result in a high, researchers found the chemical did not have any effect on rats’ decision-making or attention. CBD, which is believed to be beneficial in treating pain, epilepsy and even cancer, also didn’t block the negative effects of THC.“This was surprising, as it had been suggested that high concentrations of CBD could modulate or reduce the negative effects of THC,” said Catharine Winstanley, senior author of the study and an associate professor in UBC’s department of psychology. “Unfortunately, that did not appear to be the case.”Given how essential willingness to exert cognitive effort is for people to achieve success, Winstanley said the findings underscore the importance of realizing the possible effect of cannabis use on impairing willingness to engage in harder tasks.While some people view marijuana as a panacea that can cure all ailments, the findings also highlight a need for more research to determine what THC does to the human brain to alter decision-making. That could eventually allow scientists to block these effects of THC, allowing those who use medical marijuana to enjoy the possible benefits of cannabis without the less desirable cognitive effects.METHODAt the beginning of each behavioural experiment, rats chose between two levers to signal whether they wanted an easy or hard challenge.Choosing the easy challenge resulted in a light turning on for one second, which the rats could easily detect and respond to by poking it with their nose, receiving one sugar pellet as a reward. In the more difficult challenge, the light turned on for only 0.2 seconds, rewarding the rat with two sugar pellets if they responded with a nose poke. New research from the University of British Columbia suggests there may be some truth to the belief that marijuana use causes laziness– at least in rats.The study, published today in the Journal of Psychiatry and Neuroscience, found that tetrahydrocannabinol (THC), the main psychoactive ingredient in marijuana, makes rats less willing to try a cognitively demanding task.“Perhaps unsurprisingly, we found that when we gave THC to these rats, they basically became cognitively lazy,” said Mason Silveira, the study’s lead author and a PhD candidate in UBC’s department of psychology. “What’s interesting, however, is that their ability to do the difficult challenge was unaffected by THC. The rats could still do the task– they just didn’t want to.”
DNCU News:Drop off new or gently used coats of all sizes at any DNCU location now through Nov. 30 SANTA FE — Del Norte Credit Union (DNCU), Northern New Mexico’s hometown financial cooperative, is collecting coats of all sizes for five organizations to help at risk youth across Northern New Mexico. Del Norte Credit Union’s mission of improving lives brings communities together to help children and adults facing hardships during the cold winter months. DNCU is asking staff, credit union members and guests to drop off new or gently used coats through Nov. 15.“The response from our members and staff for the past several years has been the driving force for the expansion of our coat drive, so that every child across Northern New Mexico has a winter coat. All five organizations will deliver the coats collected to local children and individuals around DNCU offices,” DNCU CEO/President Chuck Valenti said.This year, the Esperanza Shelter, St. Elizabeth Shelter’s Casa Familia, and the Adelante Program of SFPS will be recipients of all coats collected at the Santa Fe DNCU locations.“DNCU helping our clients at Esperanza Shelter keep warm this winter season is what this community is known for,” Esperanza Shelter Board President Marcos Zubia said. “We come together and help each other. We are honored to have Del Norte Credit Union’s support once again.”3HO in Espanola will receive coats collected at the DNCU office at 1216 N. Paseo De Oñate. 3HO serves at-risk youth in Rio Arriba during difficult times and is committed to delivering coats to the local schools.The DNCU locations in Los Alamos and White Rock will collect coats for the Juvenile Justice Advisory Board (JJAB) of Los Alamos that connects at risk youth at the schools with basic needs, case managers, and other support services.“JJAB is excited to partner with Del Norte Credit Union for this year’s coat drive,” JJAB Coordinator Lisa Zuhn said. “JJAB is a non-profit organization that strives to value, celebrate, and appreciate all of you within our community—this coat drive, in essence, will help us further our mission. Thank you DNCU.”About Del Norte Credit Union Chartered in 1954, Del Norte Credit Union is a not-for-profit cooperative celebrating 65 years of dedication to helping its members achieve financial success by being a trusted source of unbiased financial advice. Today DNCU serves more than 50,000 members throughout New Mexico.For more information visit dncu.org
Share Reyn Spooner Think Pink Collection Trade Winds Regatta Button Down Shirt benefitting the Women’s Cancer Center at Kapi’olani Medical Center for Women & Children, $98Vera Bradley “Butterfly Flutter” Iconic Compact Weekender Bag benefitting The Vera Bradley Foundation for Breast Cancer, $98Ralph Lauren Pink Pony Romance fragrance benefitting The Pink Pony Fund, $88Olive + Piper Savannah Tassel Earrings benefitting the Susan G. Komen Breast Cancer Foundation, $38Reyn Spooner Think Pink Collection Trade Winds Regatta Button Down Shirt benefitting the Women’s Cancer Center at Kapi’olani Medical Center for Women & Children, $98Vera Bradley “Butterfly Flutter” Iconic Compact Weekender Bag benefitting The Vera Bradley Foundation for Breast Cancer, $98[Click image to enlarge]In addition to paying a visit to The Holiday House NYC, there are a million more chances to shop and give back to Breast Cancer research in the process. Here, the Indy team has selected four feel-good fashionable favorites — for everyone on your list.
IKM Group will provide a riserless top-hole mud circulation system to Shell on the Malikai project offshore Sabah, Malaysia.The contract award is an important milestone for IKM’s MRR technology (Mud Recovery without Riser) and will mark the first application for MRR outside the North Sea.For Malikai, Shell will utilise the “Norshore Atlantic” drill-ship to batch drill 8 top-holes in a water depth of 475m. The drilling fluids will be collected at the wellhead and pumped back to the vessel using IKM’s MRR, enabling the use of engineered drilling fluids. This method of top-hole drilling delivers minimal environmental impact with no discharge of drilling fluids, reduces risk, and provides mud logistics benefits and associated cost efficiency.The contract will be between Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited and IKM Energy Services Sdn Bhd, and operations are expected to start during August 2014.The MRR is a 2nd generation riserless mud recovery technology, incorporating the latest advances in safe working, operational performance and cost efficiency. The system has been developed to reduce the deck footprint, the number of offshore personnel, and the overall cost of top-hole mud recovery operations, and therefore expand the utilisation of such systems in mainstream drilling operations.Tom Hasler, Managing Director of IKM Cleandrill AS, the specialist mud recovery subsidiary of IKM Group, states: “IKM is excited to win this important contract from Shell, and to work as part of an integrated team on board the “Norshore Atlantic”. We believe that using a specialist top-hole vessel and IKM’s MRR system can offer significant advantages to Clients with multi-well development projects. This project adds to IKM Group’s extensive operations in Malaysia and the Asia Pacific region, and will showcase the operational and commercial benefits of the MRR system”Press Release, September 01, 2014
Piers Acland QC and Hugo Cuddigan (instructed by Mishcon de Reya) for the claimant; Mark Platts-Mills QC and Jonathan Hill (instructed by Simons Muirhead & Burton) for the defendants. Pollen Estate Trustee Company Ltd Bayerische Motoren Werke Aktiengesellschaft v Round and Metal Ltd and another: ChD (Pat) (Mr Justice Arnold): 27 July 2012 Design – Design right – Infringement – Claimant company holding community registered designs and community trademarks The claimant company held community registered designs Nos: 000032438-0004; 000304274-0004; 000609458-0006; and 000936281-0005 for wheels for motor vehicles. The claimant further held community trademarks Nos: 000091835 for the letters ‘BMW’; 000091884 for a sign device; 000302406 for the word ‘MINI’; 004319844 for a second sign device; and 0945064 for a third sign device. The first defendant company imported and sold replica alloy wheels for motor cars, including those of the claimant company. The first defendant further sold adhesive stickers for attachment to the wheels (the stickers), which reproduced the logos which formed the claimant’s sign devices. The first defendant operated an online store, which listed ‘18″ BMW parallel wheels’ and contained a photograph of a wheel bearing the word ‘MINI’. The claimant issued proceedings contending that the first defendant had infringed the community registered designs and community trademarks. The first defendant denied that its acts had amounted to infringement, relying on article 110(1) of the council regulation (EC) 6/2002 (on community designs) (the regulation), which excluded protection for a design right which constituted a component part of a complex product for the purpose of the repair of that complex product so as to restore its original appearance. There was no dispute that the second defendant was jointly liable for any infringements of the claimant’s rights that the first defendant had committed. The principal issues for determination were: (i) whether the defendants had infringed the claimant’s community registered designs; (ii) whether the defendants had infringed the claimant’s community trademarks; (iii) whether the defendants had a defence to infringement of the claimant’s community trademarks under articles 12 and 13 of the council directive (EC) 98/71 (on the legal protection of designs) (the directive). The application would be allowed. (1) Properly construed, article 110(1) of the regulation would not prevent registration of designs of component parts of complex products. It followed that article 110(1) of the regulation would operate as an exception to the right conferred by registration in particular circumstances of use of the design. The burden would lay on the defendant to establish that the exception applied. Further, article 110(1) of the regulation would be interpreted as being restricted to component parts which had been dependent on the appearance of the complex product. The language of article 110(1) of the regulation directed attention to what the part would normally be used for (see , ,  of the judgment). In the instant case, the designs of alloy wheels of the kind in issue had not been dependent on the appearance of the car, because it had been clear from the evidence that replacement of wheels of one design with wheels of a different design would be a perfectly realistic option. Further, article 110(1) of the regulation would not apply as the defendants’ replica wheels had not been used to restore a complex product to its original appearance as supplied by the manufacturer or its authorised dealer. The defendants’ replica wheels had been used to improve the appearance of a car (see ,  of the judgment). The first defendant had infringed each of the community registered designs and the second defendant would be jointly liable for the infringement (see ,  of the judgment). (2) The first defendant had used the sign devices by supplying the stickers bearing the sign devices together with wheels to which they would be affixed. Further, the first defendant had not established that there would be no possibility of confusion flowing from its use of the signs. There would be a real likelihood of confusion, since the manner of use with respect to the online store had been such to give the impression that the wheels in question had been genuine BMW wheels. Further, although the goods had not been identical to those covered by the ‘MINI’ community trademark, they had been similar. The use of the sign device in the photograph had given rise to a likelihood of confusion (see , , ,  of the judgment). (3) The defence under article 12 of the directive had depended upon the first defendant having acted in accordance with honest practices in industrial and commercial matters. That had not been the case where there had been a likelihood of confusion. Further, the court had been unable to understand how it could possibly be suggested that the first defendant had a defence under article 13(1) of the directive. The instant case had nothing to do with exhaustion of rights (see ,  of the judgment). The first defendant had infringed the community trademarks and the second defendant would be jointly liable for the infringement (see ,  of the judgment).
Thousands of criminal lawyers around the country staged a second round of protests against the government’s legal aid cuts today, bringing widespread disruption to courts.In London over 2,000 barristers and solicitors demonstrated outside parliament before marching to the Ministry of Justice.Speakers addressing the rally in support of the lawyers, included Liberty’s director Shami Chakrabarti, Gary McKinnon’s mother Janis Sharpe, Birmingham Six member Paddy Hill and shadow justice minister Sadiq Khan.Kingsley Napley solicitor and drummer with pop group Blur, Dave Rowntree, spoke to give his support, as did actress Maxine Peake, who stars as Martha Costello QC in the BBC’s drama Silk.Peake told the Gazette: ‘Anyone in their right mind should be supporting this; it’s terrible what they’re doing.’Protesters held aloft a puppet of the justice secretary and outside the Ministry of Justice shouted ‘Grayling, Grayling, Grayling, out, out, out’, ‘Simon Hughes, shame on you’, and ‘No justice, no peace’.Paul Harris, former president of the London Criminal Courts Solicitors’ Association, told the rally the action is not about the cuts, but about the rights of ordinary people to have an unfettered right to equal access to justice.He said lawyers from both sides of the profession are united in fighting the cuts and the political ethos underpinning them, in which state power increases while its accountability lessens.The justice system, said Harris, is in ‘meltdown’ – the Legal Aid, Sentencing and Punishment of Offenders Act is having a ‘devastating effect’ on access to justice, the family courts are grinding to a halt and fees are at an ‘irreducible minimum’.Harris said solicitors face cuts higher than the 17.5% suggested by government. They will only be able to survive by ‘slashing costs’ and there will be no room for experienced solicitors.Cuts to Crown court advocacy fees, he said, are ‘fatal’ to a properly functioning justice system.The cuts, he said, will result in a two-tier system – one for those with money and one for those without.Chairman of the Criminal Law Solicitors’ Association Bill Waddington called for a halt to the cuts and full review of the criminal justice system.Chairman of the Criminal Bar Association Nigel Lithman QC, accused Grayling of ‘killing’ the criminal justice system. The Ministry of Justice, he said, is not fit for purpose and is an embarrassment to the rest of government, which is striving to improve social mobility.A justice system that has been built up over centuries, has taken the government ‘a blink of an eye’ to demolish, said Lithman, stating that the whole system in ‘revolt’.For the opposition, Khan told the rally ‘We are with you and we’ll fight’, but he made no commitment to reverse the cuts if Labour is elected to government.Chakrabarti branded the government pushing the changes ‘constitutionally illiterate vandals’.This is unlikely to be the last action taken against the government’s plans. Chakrabarti told the rally: ‘You have been too quiet for too long my learned friends. But this day had to come and it may have to come again and again and again.’Ian Lawrence, general secretary of probation union NAPO, invited the lawyers to co-ordinate their next action with NAPO’s planned strikes, scheduled to take place from noon on 31 March and all day on 1 April in protest over plans to privatise the probation service.A Law Society spokeswoman said: ‘We fully understand why some criminal lawyers have reached the point of despair after two decades without increases in legal aid rates, shrinking volumes of work and the MoJ’s plans for further cuts.’An HM Courts & Tribunals Service spokeswoman said the impact of the action was ‘limited and manageable’ – 98% of listed magistrates’ courtrooms sat, as did 71% of Crown courtrooms.An MoJ spokeswoman said: ‘At around £2bn a year we have one the most expensive legal aid systems in the world.‘As everybody knows, this government is dealing with an unprecedented financial challenge and the MoJ has no choice but to significantly reduce the amount of money it spends every year,’ she said.She said the ministry has spoken ‘at length’ over the past year with solicitors and barristers about the reforms and its final plans reflect many of the changes they asked for.‘Our reforms present no change to the current system where anyone charged with a crime, or subject to investigation, is provided with a qualified lawyer through legal aid,’ she added.One of the largest criminal law firms did not take part in today’s protest action, but will instead instigate a ‘work to rule’ from 20 March.Managing partner at Burton Copeland Mike Mackey yesterday issued a statement confirming the firm would not take part in the protest, although it will support the bar’s ‘no returns’ policy and will not deploy higher court advocates to fill the gaps left by barristers who are not working today.Instead, the firm will begin a work to rule from the date that the first tranche of 8.75% cuts to solicitors’ legal aid fees are implemented.Mackey said: ‘The cuts are driven by political imperative and proceed because the public are not particularly on side. We will not achieve public sympathy by not doing our job.’In order to fight effectively, he said disruption should be achieved by ‘doing our job to the letter, complying with our duties to the court and clients’ and the Criminal Procedure Rules.‘The system functions only because of our goodwill. That goodwill is to be withdrawn on 20 March,’ he warned.For each case where the CPS has failed to comply with the rules, said Mackey, the firm will send separate emails to the court and CPS, repeating where replies are not forthcoming and non-compliance continues.The firm, he said, will insist on receipt of unused schedules 14 days prior to trial. In the event of failure, lawyers will insist on an adjournment of the trial.Neither will it assist the court in cases where there has been a delay in granting legal aid, and in complex cases will not begin any advance defence preparation until legal aid is granted.In addition, he said, the firm’s lawyers will not deal with cases ‘on the hoof’ due to late service by CPS.Mackey said: ‘We believe the cumulative effect of these measures will be much greater than closing the courts for a morning.‘Grayling can hardly complain when we are simply complying with the rules. Withdrawal of goodwill is more effective than withdrawal of services.’
Nigel TeasdaleThe Prisons and Courts Bill, introducing tariffs for low-level RTA claims, was shelved in April after parliament was dissolved – much to the relief of claimant lawyers.Nigel Teasdale, President of the Forum of Insurance Lawyers (FOIL) and Partner at DWF, said while Brexit is likely to dominate the immediate political landscape, it is crucial that when in place the government does not ‘lose sight’ of other issues.‘In particular we would urge the government to press on with the Vehicle Technology and Aviation Bill and the Prisons and Courts Bill,’ he said. ‘The latter could also be used as a vehicle for new provisions on the discount rate, to resolve the difficulties caused by the reduction announced by the lord chancellor in February.’Kerry Underwood, prominent legal commentator and director of Underwoods Solicitors, tweeted: ‘Very early days – but best guess – small claims limit rise and fixed costs extension will go ahead but whiplash reforms in doubt.’Costs expert Professor Dominic Regan said the personal injury reforms are ‘dead in the water’ but he predicted efforts to bring in fixed costs were ‘on track’, with Lord Justice Jackson due to report on the issue at the end of next month.The 2017 Conservative election manifesto stated the party intended to ‘consider a ban’ on companies cold-calling people encouraging them to make ‘false’ PI claims. The pledge came alongside a renewed promise to tackle fraudulent and exaggerated whiplash claims Speculation has already turned to the fate of personal injury reforms halted in their tracks by Theresa May’s snap election.With May likely to lead a government propped up by Northern Ireland’s DUP, insurers believe they can get PI reform back onto the agenda.
International firm White & Case has reported a near 40% rise in profits. Accounts filed at Companies House for the firm’s limited liability partnership show profits of £126.6m in the year ending 31 December 2017, up 36% from £93.2m the previous year. Turnover rose from from £229m to £264m, giving the firm an overall profit to turnover ratio of 47% – one of the highest such ratios in the City.In Africa, where the LLP has an office in Johannesburg, profit rose from £3.6m to £4.6m (27%).Overall staff numbers also increased from 599 to 633. Of those, 382 are fee-earners.White & Case has not disclosed a profit per equity partner (PEP) figure for the LLP or what its highest-paid partner received. ‘Members are remunerated from the global profit pool, representing profits from all White & Case partnerships and consequently such disclosure would not be meaningful to these financial statements,’ the accounts state. Globally, revenue was $1.8bn (£1.3bn) – up 10.6% on 2016. London accounted for around 18% of overall revenue.Profit per equity partner (PEP) globally was $2.2m (1.7m) – also up 10% on 2016’s figure of $2.051.A spokesperson said: ‘London again made an important contribution to the overall financial results. London’s performance is clear evidence that the investments we’ve made over a period of years are bearing fruit.’