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From upstart nation to ‘Start-Up Nation’

A scary interview with the lead author

 
 
 

Dan Senor, lead author of “Start-Up Nation,” is worried about Iran and Afghanistan. He was interviewed by telephone on Monday, from Boca Raton, Fla.

JS: What are you predicting for the next 25 years in the Middle East?

Senor: I’ll tell you about the next 25 months. The year 2010 will be traumatic. Iran will have a breakout in its nuclear program, and sanctions won’t work. The United States or Israel might go to war against Iran.

In Iraq, [if one sect gets the upper hand,] there might be a flood of refugees into Jordan, which would destabilize the region and have consequences for Israel. In Afghanistan, despite the [U.S.] president, the summer of 2010 will be worse than the summer of 2009. The impact of the increased troops won’t have made an effect.

JS: Getting back to your book, what has been the response to your talks around the country?

Senor: Very positive. The book has appealed to a wide range of audiences. American Jews find it exciting, but it appeals to people not just concerned about Israel. Businessmen and the military are intrigued by the Israeli model.

In this country, there’s a divide between the military and business, and it should be bridged. In Israel, an employer wants to know what unit a former soldier served in. In the United States, a corporate recruiter hears someone talk about his military experience, then asks, have you ever had a real job?

In the United States, business doesn’t value the importance of military training, of service in Iraq or Afghanistan. In Israel, a man of 25 has both military and college experience. He has better leadership ability and greater maturity.

JS: Israelis have sold many of their start-ups, often to American companies like Cisco. Was that a good idea?

Senor: That’s being debated in Israel now. They ask, why don’t we have a Nokia? Nokia has defined Finland.

The answer is, first, that Israel does have a Nokia — Teva, the pharmaceutical company. And, second, Finland may have Nokia, but it doesn’t have many start-ups. Maybe the Israeli situation — selling some start-ups, keeping others — is ideal.

JS: Why doesn’t Israel have a higher standard of living, considering its economic success?

Senor: Its standard of living is higher than it was before. The challenge for the government is to lift regulations against non-technological companies. Israel’s nontech sector is overregulated, and the regulations should be lifted.

JS: What will your next book be about?

Senor: My next book? I’m just recovering from this one! It’s taken one pound of flesh from not just me, but from my family.

 

More on: From upstart nation to ‘Start-Up Nation’

 
 
 

The value of the First Israel Fund (ISL) — a stock traded on the New York Stock Exchange — has climbed almost 50 percent this year.

Meanwhile, iShares Israel (EIS), an Exchange Traded Fund, has climbed 61 percent.

iShares Israel, an index fund traded as a stock, follows the Morgan Stanley Israel Capped Investable Market Index. Recent price: $53.24. It was launched in March 2008.

Both iShares Israel and First Israel were called bargains by SmartMoney magazine in November. iShares Israel has lower expenses, 0.63 percent versus 1.7 percent, but Don Dion, an analyst, claims that iShares Israel “struggles” with diversification problems. Recently it had 22 percent of its portfolio in just one stock, Teva. For information, call (800) 474-2737.

 
 

It’s rated only three stars (for “average”) by Morningstar Mutual Funds over 10 years, but its performance more recently has been superb. Its three-year and five-year ratings are five stars, tops. And this year, the fund has risen 50 percent.

The Amidex35 Israel Mutual Fund has handily outperformed its most similar index — by 5.08 percent over three years, by 10.54 percent over five years. Unfortunately, it began life 10 years ago, just as the dot.com bubble was about to burst. That hurt its record, but it’s still in the top half of world stock funds over 10 years.

 
 

The case for Israeli stocks

Isn’t investing in Israeli stocks too risky?

That’s one of two questions people tend to ask Cliff Goldstein, 53, president of the Amidex35 Israel Mutual Fund in Valley Forge, Pa.

Goldstein, a lawyer, answers that in an age when former true-blue-chip stocks like AIG and GM have fallen off a cliff, “the concept of risk needs to be modified.” Israel, meanwhile, has “thrived despite government turnover, no peace agreements with its neighbors, and actual wars. The Tel Aviv Stock Exchange has vastly outperformed the Standard & Poor’s 500.” The Tel Aviv Index has climbed 60 percent over the past five years, the S&P 500 is down 4 percent.

 
 

Start-Up Nation: The Story of Israel’s Economic Miracle” is one heck of a fine book — which helps explain why it’s now No. 6 on The New York Times Business best-seller list.

You might expect that a book dealing with economics and technology, and about a foreign country yet, would be one great big sleeping pill. But “Start-Up Nation” happens to be lively, surprising, and fun to read.

A key reason: The authors heeded the advice of their publisher, Twelve Books, and emphasized story-telling. The book is chockfull of short, punchy narratives — such as one about Yossi Klein, a 20-year-old helicopter pilot serving in Lebanon during the war.

 
 
 
 
 
income tax return preparation posted 18 Jan 2010 at 02:30 AM

However with retirement only five years out you may want to start thinking about preserving your existing value. This generally means switching from stocks to bonds. 45% stocks may be about right for a middle of the road investor.income tax return preparation

DUI Lawyer Los Angeles posted 10 Feb 2010 at 11:07 PM

The no taxation without any representation rule has been breached by them for far too long and their stifling illogical rules are screwing people everywhere for the favor of big business. Since I do not condone practice this I wish to do away with their tyranny and live by my own volition. My own water food, etc. Oh, and as peacefully as possible.
DUI Lawyer Los Angeles

 
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Five months in Kenya

Changing lives for the better — including her own

When you step off a 15-hour plane ride and face the stark realization that you will be without running water, a flushing toilet, electricity, a refrigerator, a microwave, or air conditioning for the next five months, that is when you know you have stepped out of your comfort zone. When you realize that you are unexpectedly the only white person in the village in which you will be living, let alone the only Jew (my coworker thought we were extinct), that is when you know your comfort zone is worlds away.

This is how I spent much of the last half-year, and I loved it. You might think I am crazy, and I will not disagree with you. However, when you throw yourself into a culture half-a-world away from your own, forcing you to challenge your own beliefs, you live in constant fascination at how the world operates so smoothly — after you learn to shower properly with a bucket, milk a cow, slaughter a chicken, and cook over a wood-burning fire, that is.

 

Focus on European Jewry

Belgium: One nation, divided

Few Jewish couples define their marriage as “mixed” just because bride and groom were born and raised 30 miles apart in the same country.

Linda and Bernard Levy, however, live in Belgium, a country whose long experiment in fusing two distinct cultures recently has been showing signs of breakdown. With the Dutch-speaking Flemish half of the country increasingly at odds with the French-speaking part, Belgium’s corresponding Jewish communities are finding themselves at loggerheads, as well.

Linda was born in Antwerp, the capital of Flanders in the self-governing Flemish region. She rarely uses Flemish (similar to Dutch), the language of her youth, since she married Bernard, a Francophone from Brussels. They live just outside Brussels with their three children.

 

Mohammed Hameeduddin: Emphasizing commonality is key

As a long-time resident who is completing his first two-year term as mayor of Teaneck and was decisively re-elected to his third council term on Tuesday, Mohammed Hameeduddin has come to understand and revel in the commonalities between his Muslim community and the Jewish community which he serves, and which helped elect him.

Being on the campaign trail — such as it was, in the run-up to this past Tuesday’s municipal’s elections — highlighted one aspect of that commonality.

“The Jewish people of Teaneck are very similar to the Muslim community, because when you walk in, the first thing everybody makes sure to ask is ‘Did you eat?’ That’s the first question every grandmother asks. It’s very similar if you walk into a Muslim household from south Asia,” says Hameeduddin, whose parents came to America from India in the late 1960s.

 

RECENTLYADDED

Shirah still going strong at 18

Community chorus looks to the future

As Shirah, the Community Chorus at the Kaplen JCC on the Palisades, prepares to celebrate its 18th year with a gala concert on June 10, founding director and conductor Matthew Lazar says he is proud of what the group represents.

“Shirah is a community,” said Lazar, known to his friends as Mati.

“It’s a group of people who care about each other, making music together, and expressing their Jewish identity together. Whatever differences there might be, when we make music together, we are one entity and one people.”

 

Shirah still going strong at 18

Matthew “Mati” Lazar’s passion for Jewish music will be showcased June 1-2 when he visits Teaneck’s Congregaton Beth Sholom as scholar-in-residence.

Adina Avery-Grossman, a member of the congregation who sits on the board of the Zamir Choral Foundation, knows Lazar well.

“My high school-age daughter sang for three years with HaZamir,” she explained, talking about the teenager’s participation in the international Jewish high school choir founded by Lazar.

The Bergen County chapter meets at Beth Sholom.

“It was a spectacular experience for my daughter, choral music of the highest standards.”

 

The ultimate Top Ten list

Myths and misperceptions surround ‘the Ten’

Last week, a U.S. district court judge sitting in Roanoke, Va., made an extraordinary suggestion about the document commonly referred to as “The Ten Commandments.” He suggested it be cut to six. He appointed another judge to oversee negotiations to accomplish that goal.

The case involves Narrows High School in Narrows, Va., a part of the Giles County school district, which is the actual defendant in the case. After Narrows High put up a display of “The Ten Commandments,” the American Civil Liberties Union objected and brought the case to the U.S. District Court in Roanoke. It cited the separation clause of the First Amendment, as well as a number of federal court decisions, as its reasons.

 
 
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