Five Things You Should Read

July 11, 2019

The worst states for retirement and 4 techniques that’ll make you a better negotiator.

Marriott Faces $123M GDPR Fine

Business Insider

The UK's Information Commissioner's Office (ICO) announced on Tuesday that it intends to fine hotel giant Marriott International £99 million (about $123 million) for their 2014 data breach that exposed the sensitive data of 339 million guests. "We are disappointed with this notice of intent from the ICO, which we will contest," Marriott International's president and CEO, Arne Sorenson, said in a statement.

Deloitte and Others Pay $235M Settlement Over Ponzi Scheme

Quartz

After three years in court, Deloitte and others agreed last night to pay $234.6 million for allegedly enabling a giant Ponzi scheme run by now-defunct Aequitas Capital Management between 2010 and 2016. The lawsuit alleged that the securities scheme couldn’t have happened without accountants like Deloitte and EisnerAmper—also a defendant in the lawsuit—signing off on their books, and lawyers including elite white-shoe firm Sidley Austin doing the paperwork.

Credit Suisse Criticizes New Lease Accounting Standard

WSJ - Paywall

The FASB's new lease accounting rules have resulted in potentially misleading data feeds, inconsistent financial reporting and other discrepancies that could confuse and misinform investors, Credit Suisse Group analysts say. At issue is whether operating leases are automatically included in key financial metrics by data providers, and whether investors are aware that their data feeds have made these adjustments.

The Worst States for Retirement

CNBC

The worst 5 states are Washington, Illinois, Alaska, New York, and Maryland. The best are Florida, South Dakota, Missouri, Iowa, and Nebraska. The study examined 11 public and private criteria significant in retirement, sorted into five broader categories (weightings in parentheses): affordability (40%), wellness (25%), weather (15%), culture (15%) and crime (5%).

4 Techniques That’ll Make You a Better Negotiator

LinkedIn

Chris Voss' biggest lesson from his 24 years as a FBI hostage negotiator: the negative weighs far heavier on people's minds than the positive. You want to connect to the person you are negotiating with by acknowledging their negative statements, instead of denying them. If needed, use the phrase, “You aren’t going to like this.” Label their negative emotions (for example, “it seems like you are hesitant about saying yes, I’d love to learn more.”). Finally, empathize by listening to their concerns and repeating them back to them.