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May 3, 2012

Smartcompany News and Analysis: Nothing in Budget for SMEs: CPA Australia, It’s a disaster: Distraught transport group head hits out, Who’s cashing in from Facebook’s $92bn IPO

smart company logo image


The founder of MoneyTech, Hugh Evans, pitched his business 150 times before securing $12 million in funding. Today on SmartCompany we look at how he perfected his pitch to get funders over the line.

We also speak to the head of transport company 1st Fleet who breaks down as he blames funders and administrators for the company’s collapse, examine the CPA’s warning that small business should not expect much in next week’s Budget and look at the implications of the James Hardie case for small business.

Plus in Entrepreneur Watch, James Thomson asks what you are ignoring in your business after the British Parliament found Rupert Murdoch was “wilfully blind” to phone hacking.

Finally, SmartCompany’s team is jetting up to Canberra for the Federal Budget lock-up and will bring you all the news and analysis next week.

How I
How I perfected my pitch to win $12 million in funding
Work hard at the perfect pitch and you might just see the money start rolling in. BY PATRICK STAFFORD.
Features

Advertising and Marketing
MARKETING STRATEGIES: The customer experience puzzle
Putting together the pieces of the customer experience puzzle gives us a framework from which to create the best strategies for improving customer satisfaction. By TOM McKASKILL.
Features

Aunty B
I am now head of sales. Help!
How do I earn the respect of my sales team when I’ve never been a salesperson?
Aunty B

Selling strategies
Trent Leyshan
Are you spending too much time and effort on the wrong sort of proposals?
Ask the Experts

Property Investor
Michael Yardney
Money doesn’t discriminate; it doesn’t care who you are or where you come from and it’s there for the making.
Smart Blogs

Female Entrepreneur
Naomi Simson
It's time to wrest back the debate about issues like childcare from the Luddites in our community.
Smart Blogs

Entrepreneur Watch
James Thomson
The British Parliament said Rupert Murdoch was “wilfully blind” to phone hacking. What are you ignoring in your business?
Entrepreneur Watch

Financial and Forex Info News | The Australian Capital Circle: Defence, welfare targeted as Labor cuts hard



Defence, welfare targeted as Labor cuts hard
 
Four days out from the federal budget, welfare recipients and the Defence department are facing straitened circumstances.

First off: Defence spending is now expected to be slashed by more than $4 billion in Tuesday's budget, double the $2 billion announced yesterday by Labor (The Australian) (SMH). And tens of thousands of families, pensioners, single parents and carers are also set to have welfare payments cut in measures designed to force people back to work (Herald Sun).
Wayne Swan moved into the Treasury building this week in the lead up to the budget, taking key advisers with him. The Treasurer will be in the office over the weekend, poring over the details of his fifth budget and finalising measures with Treasury boffins ahead of Tuesday's make-or-break federal budget.
Julia Gillard is in Melbourne. She has no public appearances planned at this stage.
Tony Abbott is in Port Macquarie today. The Opposition Leader will visit a business to talk about the impact of the carbon tax. He'll also be talking about Labor's flagged budget cuts to Defence at a doorstop that is expected mid-morning. Mr Abbott has been taken to task by the Hobart Mercury again today for his comments about possible changes to GST funding distribution. The paper accuses him of having a "tune for all seasons". See the front page here. Mr Abbott rejected the Mercury's accusation on the Today show this morning, arguing that his statements on the GST were "pretty consistent" and that the "Coalition is waiting for the Greiner Review (of GST funding) to produce its report, once that happens we’ll have a response. There are perceptions of unfairness, they do need to be addressed".
Mr Abbott also played down new
Read more...
 
Mumble
Peter Brent
Peter Brent
 
What might have been in Dobell
Should the ALP have disendorsed Craig Thomson from his New South Wales seat of Dobell before the 2010 election? If the party had…
 
More Peter Brent

NYT Global Update: Activist Asks to Leave China, Deepening U.S. Predicament

Global Update


TOP NEWS

Activist Asks to Leave China, Deepening U.S. Predicament

By JANE PERLEZ
An American official on Thursday said that Chen Guangcheng had reversed his position and now wanted to leave China, injecting new uncertainty into a tense diplomatic situation.

Qaeda Rifts Seen in Documents Found in Bin Laden Hideout

By PETER BAKER
Al Qaeda's senior leadership was riven with debates on tactics, strategy and even marketing in the months leading up to the raid that killed Osama bin Laden.
DealBook

Facebook Sets I.P.O. Price Range at $28 to $35

By EVELYN M. RUSLI
At the midpoint of its offering range, the social networking company is on track to raise $10.6 billion, in a debut that could value the company at $86 billion.
Multimedia

Video: TimesCast

Chen Guangcheng wants to leave China; "The Scream" sells for a record $119.9 million; and more.
Opinion

Room for Debate

Are We Headed for a Cold War With China?

Do human rights cases and the standoff in the South China Sea point to conflict on the horizon?
WORLD

A Car Chase, Secret Talks and Second Thoughts

By JANE PERLEZ and ANDREW JACOBS
Details of intrigue, heroics and ultimately what some people involved called a betrayal emerged from Chen Guangcheng's saga.

Deadly Crackdown Reported on Syria University

By NEIL MacFARQUHAR
Syrian security forces raided the public university in Aleppo early Thursday after antigovernment protests there, killing at least four students, activist groups reported.

Palestinian Resistance Shifts to Hunger Strikes

By JODI RUDOREN
With the peace process stalled, analysts see nonviolent resistance as a critical tactic for the Palestinian national movement.
BUSINESS

European Central Bank Opposes Higher Taxes

By RAPHAEL MINDER and JACK EWING
The president of the European Central Bank said that opting for the "easier road" of raising taxes to balance budgets would not solve Europe's problems.

G.M. Profit Falls, but Surpasses Forecasts

By NICK BUNKLEY
General Motors said its first-quarter income increased 30 percent in North America, but a loss in Europe and a one-time charge contributed to a 69 percent decline in total earnings.

Lufthansa to Cut 3,500 Jobs in Bid to Improve Profitability

By NICOLA CLARK
The decision marked the first time since the economic crisis in 2008 that the German flag carrier announced a significant staff reduction.
TECHNOLOGY

Study Finds Concerns on Readiness for Cyberattacks

By MICHAEL S. SCHMIDT
"While a great deal of work has been done" on cybersecurity, an official said, "more efforts need to be taken, and there needs to be further action."

Samsung Unveils New Version of Its Biggest Phone Hit

By BRIAN X. CHEN
The world's largest phone maker released details about the latest smartphone in its Galaxy S line, which has been instrumental to its success in the smartphone market.
SPORTS

In the End, Depth Is the Difference in La Liga

By ROB HUGHES
Real Madrid and Barcelona both are filled with stellar soccer players, but Madrid won the league title because it had a deeper pool to draw from as the season wore on.

Top-Heavy Investment by Soccer Clubs in China

By JOHN DUERDEN
Clubs are grabbing headlines with eye-popping signings, but many wonder if the country would be better served by spending money on developing its own young players.

Winning Horse Racing Partners Do It Their Own Way

By RYAN GOLDBERG
After the surprising victory last year with Animal Kingdom, a winning owner-trainer-jockey trio is aiming for a second straight Kentucky Derby title with another little-raced horse, Went the Day Well.
U.S. NEWS

Border Vigilante Leader Seen as Gunman as 5 Die in Murder-Suicide

By FERNANDA SANTOS
The police believe that Jason Ready, a well-known opponent of illegal immigration, was the gunman in the attack.

Methodists Vote Not to Change Outlook on Homosexuality

By LAURIE GOODSTEIN
Church members will keep long-contested wording in "Book of Discipline" that calls homosexuality "incompatible with Christian teaching."
OPINION
Patrick Chappatte

Chen Guangcheng

The Chinese dissident Chen Guangcheng escaped house arrest, found protection at the American Embassy in Beijing, and then left after talks with the Chinese government. He later changed his position and wanted to leave China, a senior Obama adminstration official said Thursday.
Op-Ed Contributor

Austerity Is Strangling Europe

By GERHARD SCHRÖDER
We can survive between the centers of power - the United States and China - if we continue the path to integration.
Op-Ed Contributor

Will France Turn North, or Go South?

By DOMINIQUE MOÏSI
The direction France takes now will be decisive for the European Union and the world economy.

Romney criticizes handling of Chinese activist: The Washington Post | Politics Afternoon Edition

The Washington Post

Politics Afternoon Edition

HEADLINES

  1. Romney criticizes handling of Chinese activist

    "If these reports are true ... it's a day of shame for the Obama Administration," Romney said.
    » Read full article
  2. House Democrats slam GOP budget

    In a new memo, Democrats blame Republicans for targeting the poor and Obama administration programs.
    » Read full article
  3. Ann Romney's $990 designer T-shirt

    SHE THE PEOPLE | The colorful top with a whopping price tag is indicative of a tone-deaf campaign.
    » Read full article
  4. Elizabeth Warren stumbles with Native American questions (again)

    THE FIX | It's a reminder that the Harvard Law professor is new to politics.
    » Read full article
  5. Bachmann, a former critic, endorses Romney

    The conservative lawmaker and former White House hopeful was one of Romney's harshest critics in the presidential race.
    » Read full article

QUOTE OF THE DAY

Mitt Romney commenting on the Obama administration's handling of Chen Guangcheng, a Chinese dissident:
""If these reports are true, this is dark day for freedom and it's a day of shame for the Obama Administration. We are a place of freedom, here and around the world and we should stand up and defend freedom wherever it is under attack.""


MULTIMEDIA

bin Laden image.
Video: Bin Laden's last words go online
In letters from his last hideout, Osama bin Laden fretted about dysfunction in his terrorist network and the loss of trust from Muslims he wished to incite against their government and the West.

NYT Afternoon Business News: European Central Bank Opposes Higher Taxes



BUSINESS

European Central Bank Opposes Higher Taxes

By RAPHAEL MINDER and JACK EWING
The president of the European Central Bank said that opting for the "easier road" of raising taxes to balance budgets would not solve Europe's problems.

G.M. Profit Falls, but Surpasses Forecasts

By NICK BUNKLEY
General Motors said its first-quarter income increased 30 percent in North America, but a loss in Europe and a one-time charge contributed to a 69 percent decline in total earnings.

U.S. Retail Sales Slow Unexpectedly

By STEPHANIE CLIFFORD
Nineteen chains reported a 0.8 percent increase in sales at stores open at least a year on average, missing the 1.5 percent gain that analysts forecasted.
DealBook

In Debut, Carlyle Stock Opens Flat

By MICHAEL J. DE LA MERCED
Shares in the Carlyle Group began trading at $22 on Thursday, in a lackluster start to the investment giant's new life as a publicly traded firm.

Stocks Slip Before April Jobs Data

By REUTERS
Wall Street shares were down in advance of Friday's government report on unemployment. On Thursday, one report showed a drop in weekly jobless claims and another showed soft retail sales.

Stocks and Markets in the News | Wall Street at Close: U.S. stocks fall as jobs report looms

By Laura Mandaro

SAN FRANCISCO (MarketWatch) -- U.S. stocks slid Thursday, weighed by uncertainty about Friday's nonfarm payrolls report and after a disappointing survey on the U.S. services sector. The Dow Jones Industrial Average DJIA -0.47% fell 61.98 points, or 0.5%, to 13,206.59, led by a 3.1% drop in Hewlett-Packard Co. HPQ -3.05% shares. The S&P 500 SPX -0.77% fell 10.74 points, or 0.8%, to 1,391.57, led by a 10% drop in Prudential Financial Inc. PRU -10.06% shares. The Nasdaq Composite COMP -1.16% lost 35.55 points, or 1.2%, to 3,024.30.

DealBooK | DealB%K Afternoon Edition: Facebook Sets I.P.O. Price Range at $28 to $35.


Thursday, May 3, 2012
TOP STORY
Facebook Sets I.P.O. Price Range at $28 to $35 At the midpoint of its offering range, the social networking company is on track to raise $10.6 billion, in a debut that could value the company at $86 billion.
  • DEALBOOK »
  • DEALBOOK HIGHLIGHTS
    Loeb Accuses Yahoo Officials of Résumé Padding In a letter to Yahoo's board, the activist investor Daniel S. Loeb said that Yahoo's chief executive and a board member listed college majors different from the ones they earned.
    Dewey Deal Lawyer Decamps to White & Case Morton A. Pierce, co-chairman of Dewey & LeBoeuf's mergers and acquisitions group and a member of the firm's executive committee, is headed to a rival firm, White & Case.
    John Arnold Is Said to Close Hedge Fund and Return Investor Money John Arnold, one of the most profitable traders in the hedge fund industry, is said to be shutting down Centaurus Advisors and returning money to investors.
    In Debut, Carlyle Stock Opens Flat Shares in the Carlyle Group began trading at $22 on Thursday, in a lackluster start to the investment giant's new life as a publicly traded firm.
    UBS Faces Shareholder Opposition Over Executive Pay UBS is among a growing number of companies to come under pressure from shareholders for handing out large pay packages while their earnings - and share prices - decline.
    The European Central Bank in Frankfurt.
    In Europe, Parallels to Japan's 'Lost Decade' Analysts at Barclays examined whether Europe's debt crisis would affect its local banks in the same way that Japan's economic downturn hurt that country's financial institutions.
    BG Group to Sell Stake in Brazilian Pipeline Operator for $1.8 Billion The BG Group of Britain has agreed to sell its 60 percent stake in the Brazilian gas distribution company Comgás for $1.8 billion, as it focuses on energy exploration projects.
    China's Bright Food Buys 60% of Weetabix The transaction values the British cereal maker at $1.9 billion and marks the biggest overseas foray yet for Bright Food, after several unsuccessful attempts at foreign acquisitions.
    Societe Generale Profit Drops 20% in First Quarter The French bank said net income in the first three months of the year fell to $963 million as it sold assets and booked a charge on the cost of its own debt.
    BUZZ TRACKER
    Bank of England Chief Blames Banks for Crisis Mervyn A. King, governor of the Bank of England, focused blame on the country's banks for causing the recent financial crisis. In a speech late on Wednesday, he said Britain's financial system overextended itself, leaving it fragile and vulnerable to a sudden loss of confidence.
    LOOKING AHEAD
    Economic Reports Data released on Friday will include unemployment figures for April.
    Corporate Earnings Companies reporting on Friday will include Madison Square Garden.
    Overseas Treasury Secretary Timothy F. Geithner and Secretary of State Hillary Rodham Clinton will meet with Chinese officials in Beijing on Friday.

    DealBook Video
    Business Day Live: Law Students Derailed on Fast Track
    Business Day Live: Law Students Derailed on Fast Track Brian Stelter on ratings decline worries at CNN; boom time for the business of going broke; and Catherine Rampell on being derailed from a fast-track legal career at Dewey & LeBoeuf.