Blog

  • 19 Oct 2018 by Global Chamber

    Last week the technology-laden NASDAQ market dropped over 10% from its prior week high, hitting 6906 down from a high of 7728.

    Insiders and institutions have been selling out of technology positions, with retail picking up (as the economy enters the holiday season).

    Borrowing costs have risen sharply as the Federal Reserve has remained steadfast in their resolve to normalizing rates, at whatever level that may be.  As rising rates are factored into longer-term discounting mechanisms, Net Present Value (NPV) calculations will have to adjust or "discount" at much higher levels given the creep up in bond yields. This can kick assets a few notches down in terms of their fair value. Companies will have to pay more as bonds roll over.  

    Equity holders feel this pain first, followed by the bond holders, so stay attuned to your portfolios.

    Mark Lohsen - Global Chamber Charlotte

  • 27 Feb 2018 by Global Chamber

    Thank you members of Global Chamber® in New York City!

    Our Global Chamber® team works in 525 metros, and we've seen and heard it all from members and non-members. We're ALL busy... and our members realize that an investment in time with the global tribe increases success. 'Too busy to be more productive' isn't a good strategy. Thank you members for being amazing!

    Like member Winnie Kho Kaplan (below) at the Malaysian Consulate in LA last month. Winnie is a consummate connector... and it turns out that she and the new Consul General are from the same town in Malaysia... and so they have already made a plan for working together that I'm sure will benefit other members. Thank you, Winnie!

    And thank you MIDA - Malaysian Investment Development Agency, for your membership and collaboration. There is an active MIDA office in New York City... and we'll be happy to connect you to the team.

    Make your growth journey a little easier with 'warm connections' in every industry, in every location and at every level of organizations that you should be working with. Also check out our multi-metro 'globinars' several times per month.

  • 17 Dec 2017 by Global Chamber

    'Warm connecting' is a focused, effective way of 'networking' advocated by Global Chamber®.

    As a New Yorker myself, I know from family, friends and business relationships that NYers are special. And from the outside it can appear that we're a bit cold. It's like when folks tell me that Japanese are like that... you just have to know how to deal with them/us.

    There are many ways to network. For many of our members, 'warm connecting' is the best because there is some thought about your business goals before making a warm introduction - and the person who is introduced is known and will very likely be interested to meet you. People are too busy these days to take meetings with people they don't know UNLESS the intro is from someone they know AND there appears to be something in it for them, as well.

    Read more about 12 tips on warm connecting HERE. And join us to grow your business in warm and wonderful ways.

    Read more about our members HERE.

     

    Doug Bruhnke

    Executive Director, Global Chamber NYC

    Founder/CEO Global Chamber

  • 14 Jun 2017 by Global Chamber

    Thank you to everyone in the Tri-State area for attending the multi-metro event last Thursday!

    It was the BIGGEST multi-metro event EVER held by Global Chamber® - and it included 5 locations, Experts in manufacturing, marketing and business discussed successes and challenges entering new markets and setting up facilities in other regions, with focus on... Japan, China, Mexico and the U.S.

    This event was held in collaboration with ProMexico.

    Special thanks to all the speakers and collaborators!

    Market Entry/Growth Panel Discussion, Part 1

    Read more and watch the video for part 1 HERE

    • Jan Knight, Principal at Bancroft Information Services (Tucson) - "Cross Border Market Research"
    • Hiroshi Konno, President/CEO at Konno Corporation (Tokyo)  - "IoT Trends and Opportunities"
    • Eric Miller, Co-Owner and Principal, PADT (Phoenix) - "Product Development in a Global World"
    • Vinayak Gupta, EVP Operations at Zero Mass Water (Phoenix) - "Growing & Operating Cross Border, Marketing Side"
    • Eduardo Gonzalez, Dep. Trade & Investment Commissioner, Promexico (Phoenix) - "Growing & Manufacturing, US vs Mexico"
    • Gus Scannapieco, CEO, Global Business Ventures (Nashville) - "Next on NAFTA"

     

    Global Manufacturing Panel Discussion, Part 2

    Read more and watch the video for part 2 HERE

    • Kazuaki Ohishi, Sr. Economist at Institute for Int'l Economic Studies of Toyota (Tokyo) - "Japan-Mexico Business Trends in Automotive"
    • Sumio Otsuji, Toyota Motor Corp. & Institute for Int'l Econ. Studies Tokyo - "Japan-Mexico Business Trends in Automotive"
    • Kirk Gerber, VP Manufacturing at Zero Mass Water (Phoenix) - "Growing & Operating Cross Border, Manufacturing"
    • Eduardo Saavedra, EVP of Business Development at Offshore Group (Tucson) - "Manufacturing in Mexico"
    • Arturo Freydig, CEO of ECN (Hermosillo) - "Automation to Become More Competitive"
    • Luis Ramirez, Principal at Ramirez Advisors Inter-National (Phoenix) - "Cross Border Issues"
    • Arnulfo Martinez, Executive Director at Industrial Development Commission of Mexicali (Phoenix) - "Setting Up Operations"

     

    Watch for our multi-metro events 2-3 times per month... held everywhere.

     

  • 14 Jun 2016

     

    Need
    *  Access to an organization where participants of their YSEALI Professional Fellows Program could work for a month.
    *  A guarantee that their Fellows will get exposure to American businesses and government agencies.

    Plan of Action
    Contact Global Chamber® for a collaboration in this program and plan on how two of the Fellows would spend a month working at Global Chamber®.

    Results
    Chansamai Phommachan (Laos)(Left) and Nia Febriyanti (Indonesia) worked for a month at Global Chamber® where they were able to learn about US business operations and make valuable connections like Kevin Hull (BMO Harris) and Mayor Stanton (City of Phoenix). 

  • 04 Oct 2016

    On September 27th Global Chamber New York had a very successful webinar that was broadcasted live at our YouTube channel as well at the Magnificent Leaders radio show about Growing Tech Exports. Our guests including Fred Hochberg - Chairman and CEO of EXIM Bank shared their thoughts and experience on this subject. You can watch recording of this webinar here.

  • 29 Sep 2016

    Global Chamber® Buffalo presents their "Over Coffee Series," which is an Upstate New York gathering of Global Chamber® Buffalo Members, Sponsors and Collaborators along with regional business professionals to discuss pre-arranged topics, explore important global tactics, connect their networks, and participate in a variety of educational mini-presentations. They are looking to host these every fourth Friday of each month, with their kickoff event October 28th.The "Over Coffee Series" is featured on their website with forth coming details, including speakers, presentations, and the event location(s) throughout the Upstate New York region. Not only will the coffee be great, but so will the educational and networking value! This is the perfect setting to experience the Global Chamber® and realize the value within the membership.

  • 20 Sep 2016

    Blue Marble Global Payroll is Revolutionizing Global Payroll with cloud-based payroll solution that combines leading-edge technology with network of payroll service providers and superior customer service in over 135 countries around the world.

    Blue Marble offers seamless global expansion with Global Consulting services including; Accounting, Tax, HR, Time and Attendance,

    They developed a web-based reporting solution providing aggregated global and country-specific reporting, so clients can not only access all payroll providers in one location, but see a consolidated view of payroll costs across countries as well.

  • 12 Sep 2016

    The Global Chamber® Dallas plans to host its first annual Grow Globally Fair on October 18! This signature event features all the global resources in metro DFW! It's a global trade fair with awards, resources, and the chance to meet the best global business professionals in DFW. If you plan to be Dallas in mid-October, don't miss out on this event! Register now! 

  • 25 Jul 2016

    Global Chamber virtual events make it easy for you to tap in to the global business knowledge needed to avoid missteps and capture new opportunities. Our webinar July 26th features Patty Azar of Vision Alignment moderating some of our best Executive Directors at Global Chamber in a discussion of growing globally. This will be an invigorating discussion of growth ideas and tips they've learned from magnificent leaders in their metros and regions.

    Join us July 26th

  • 20 Aug 2016

    Global Chamber New YorkGlobal Chamber San Francisco and Global Chamber London presents Technology Exports and Imports with guest appearance by Fred P. Hochberg, Chairman and President ofEXIM Bank, Export-Import Bank of the United States.

    The Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States. EXIM is an independent, self-sustaining Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.

    When private sector lenders are unable or unwilling to provide financing, EXIM fills in the gap for American businesses by equipping them with the financing tools necessary to compete for global sales. In doing so, the Bank levels the playing field for U.S. goods and services going up against foreign competition in overseas markets, so that American companies can create more good-paying American jobs.

    Because it is backed by the full faith and credit of the United States, EXIM assumes credit and country risks that the private sector is unable or unwilling to accept. The Bank’s charter requires that all transactions it authorizes demonstrate a reasonable assurance of repayment; the Bank consistently maintains a low default rate, and closely monitors credit and other risks in its portfolio.

    Register Today

  • 16 Jun 2016

    ASF International Consulting "New Business Deals"

    Need
    *  Networking opportunities to develop business deals.
    *  Partnerships with companies that can help clients with their business expansions.

    Plan of Action
    *  Join Global Chamber® 
    *  Attend a Global Chamber® Dallas event for exporters.

    Results
    Andy Wang, (Right) CEO at ASF International Consulting received four partnership engagement leads at the event. He has already done new business deals with one of these leads, and another lead resulted in a consulting firm helping his clients with funding opportunities for their business expansion plans.

  • 02 Jun 2016

    On Monday, June 13th at Polsinelli in Phoenix we say farewell for now and thank you to Consul General Roberto Rodriguez, who has been such a strong advocate for trade between Phoenix and Mexico for so long. It's no coincidence that this has been an especially strong time for trade. Mike Patterson of Polsinelli with the business community will be wishing Consul General Rodriguez well, and you can join us, too. 

    Click for more details, 5:30pm on the

  • 12 Apr 2016

    Hosted by Global Chamber NYC

    A global discussion on making cross border and cross cultural business easier. Global business can be complex and requires strong cross-cultural skills in addition to a solid understanding of the business environment.

    Join our global panel for their thoughts on how to better prepare yourself and your team for cross-border success.

    Panelists:     Andreas Bestler, Founder/Owner/CEO,

                          Kenneth Goodwin, Managing Principal, Jeanensis Capital Market (US)

                          Gary Covert, Principal, Alpha Performance Coaching (US)

                          Mike Hurst, Sr. Executive,

    To participate please register here.

  • 21 Apr 2016

    On April 19th our organisation has been invited to participate in discussion on Foreign Investments in US. In the short run, foreign capital invested in the United States raises U.S. gross domestic product.  Foreign ownership trouble many critics: What payment will foreigners exact for our use of their capital? Will sustained inflows of foreign capital give foreigners control of the U.S. capital stock, reduce job quality, or distort U.S. investment and research? Fortunately, these concerns can be dispelled by reviewing the extent of foreign investment in the U.S. economy vs. U.S. investment abroad, considering the motivations for foreign investment, and computing the negligible potential for foreign control.This was the major topic of the discussion.

  • 06 Apr 2016

    Kenneth Goodwin

    Managing Principal at Jeanensis Capital Markets | Cross Border Markets | FDI, IPO, Executive Board and Risk Advisory

    Jeanensis LLC, “Jeanensis Capital Markets” is an independent capital markets and regulatory risk management advisory firm targeting government service entities (GSE), multi-national corporates, cross border mature small and medium enterprises (SME) and investment capitalists in capital fundraising, lead generation executive sourcing and foreign direct investment (FDI), Initial Public Offering (IPO) and Trans Pacific Partnership (TPP) advisory and execution strategies in several industries (FinTech, Innovation and Technology, Artificial Intelligence, Advanced Manufacturing/Robotics, Energy Renewable-Solar, High Rail Transportation/Freight Shipping, Healthcare and Life Sciences and Cultural Services/Arts/Entertainment Platforms/Education).

  • 07 Apr 2016

    Global Chamber NYC, Global Chamber Tokyo, Global Chamber Mexico had a very productive event on the evening of March 31.This event provided insights into the opportunities and challenges of doing business with Japan and Mexico today. We discussed latest technologies, succesful industries and growing markets.

    Please don't miss our next Get-together, date and time to be announced.

  • 17 Mar 2016

    Thursday, March 17th, 10 am till noon Global Chamber NYC and Global Chamber Mexico are organizing a breakfast to discuss different business opportunities world wide.This meeting is going to focus on Investments in Real Estate, Export/Import, Art Trade and Technologies. We will exchange ideas and contacts in non-formal atmosphere. 

    The Breakfast is going to be held in "Little Park", Tribeca, NYC. 85 West Broadway.


    PLEASE RSVP  Space is limited. There is no cover charge but you pay for your coffee.:)

  • 01 Mar 2016

    Trade in Goods and Services Deficit: $43.4 Billion Exports: $181.5 Billion Imports: $224.9 Billion. The U.S. buys far more products than it sells to the rest of the world and in March, the nation’s trade deficit ballooned to its largest level since the 2007-09 financial crisis. The U.S. imported $51.4 billion more in goods than it sold to foreign markets in that month alone.  

    The following export product groups represent the highest dollar value in American global shipments during 2015. Also shown is the percentage share each export category represents in terms of overall exports from the United States.

    1. Machines, engines, pumps: US$205.8 billion (13.7% of total exports)
    2. Electronic equipment: $169.8 billion (11.3%)
    3. Aircraft, spacecraft: $131.1 billion (8.7%)
    4. Vehicles: $127.1 billion (8.4%)
    5. Oil: $106.1 billion (7.1%)
    6. Medical, technical equipment: $83.4 billion (5.5%)
    7. Plastics: $60.3 billion (4%)
    8. Gems, precious metals, coins: $58.7 billion (3.9%)
    9. Pharmaceuticals: $47.3 billion (3.1%)
    10. Organic chemicals: $38.8 billion (2.6%)

    Aircraft and spacecraft was the fastest-growing among the top 10 export categories for 2015, up in value by 49.4% for the 5-year period starting in 2011.

  • 24 May 2016

     

    Upon arrival in a foreign country, shipments must clear through Customs. This is true regardless of the mode of transport.

    If the shipment is valued at less than $2,500.00, then an informal entry can be made and the individual importer can clear the shipment themselves, although it is worth bearing in mind that this will likely be a time-consuming process. Above that value, or for any textiles and fabrics, a licensed customs broker is needed.

    In order to clear the shipment, the broker will need to know personal details about the importer, social security number for individuals, and tax-ID numbers for corporations. They will also need a fully descriptive invoice, showing the supplier, nature of the commodity, value, country of origin and, if antique, the age of the piece.

    Import Fees

    In addition to transport costs, various fees will be due upon clearance. Most objects are subject to duty, however, objects over 100 years old, original works of art and early editions of cast sculptures are duty-free. Depending on the country certain other items may be free of duty, it is worth checking with a broker before shipping to ascertain your likely monetary outlay. Duty is charged as a percentage of the value of the merchandise and depends on the commodity, however in some countries; duty is calculated on the value of the goods and the cost to ship them there.

    Other import fees and charges will be incurred too. To import into the USA, a bond must be posted. The term "bond" is something of a misnomer in that it suggests one gets the fee back. That is not the case, it is more of a surety guarantee, in the event that duty is due on the shipment the government is assured of receiving payment by a Surety Company should the importer refuse. The bond charge is for the use of that surety guarantee. Some regular importers have their own bonds, renewable yearly. The speed at which entries are processed necessitates this guarantee as most shipments are delivered long before the entry is truly signed off upon, or "liquidated". Without this guarantee, ports would grind to a halt. Bond fees vary from broker to broker but will typically be .2% to .4% of the imported value

    Another US import fee is "Merchandise Processing Fee", which was implemented in the late 1980s in order to help fund the US Customs Service. This fee is based on the imported value of the shipment and is .21%, with a minimum of $ 25.00 and a maximum of $485.00, it is levied on every shipment.

    Additionally, if a shipment arrives by sea, Harbor Maintenance Fee is due. This is .125% of the imported value and has no minimum or maximum charge, a worthwhile consideration for high-valued shipments.

    Taxes

    In most countries, sales tax or "value added tax" is due before the shipment is released, unless the shipment is cleared in such a way as to defer the payment, (although this can only be done for an importer who satisfies certain stringent criteria). In the case of the USA however, the payment of sales tax is the responsibility of the individual importer and is settled with their state sales tax office after receipt of the goods. For the most part, sales tax is due on anything imported from overseas, it tends to be referred to as "use tax" and the rate varies from state to state.

    Visit the U.S. Customs site

    It is strongly recommended that individuals consult their own state sales tax office as failure to pay can result in fines and penalties and interest calculated from the date of entry. Ignorance of the rule does not excuse the importer from payment.

    Visit the Tax Department site

    Export customs clearance formalities differ with commodity and the exporting country, it is worth checking with your shipper as to what needs to be done.

    If the objects to be exported contain material covered by the Convention on International Trade in Endangered Species, such as ivory and tortoiseshell, then export paperwork must be completed regardless of the exporting country. CITES rules are very strict and failure to adhere to them will result in seizure and destruction of the objects by Fish & Wildlife officials, whose jurisdiction is higher than that of US Customs.

    Rules of Thumb

    Ensure fully descriptive invoices are available.

    Be sure of all pertinent details of importer before dispatch of shipment.

    Allow time for customs both on export and import.

    It has been proven in the highest courts that importing is a privilege not a right.

    Upon arrival in a foreign country, shipments must clear through Customs. This is true regardless of the mode of transport.

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