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September 23, 2014 / 28 Elul, 5774
At a Glance

Posts Tagged ‘Bloomberg’

Israel: World’s Safest Place to Invest

Tuesday, February 21st, 2012

Israel is the most likely country in the developed world to provide riskless returns on investments, according to a report in Bloomberg Businessweek.

Despite  a month-long war with Hizbullah in 2006, Operation Cast Lead against Hamas in 2008, existential threats from a pre-nuclear Iran, international and regional pressures, and internal socio-political and land turmoil, the Tel Aviv TA-25 Index returned 7.6 percent in the past decade, the highest amount of any of the 24 developed-nation benchmark indexes.  The next best index was Hong Kong’s Hang Seng Index, followed by Norway’s OBX.

The past 10 years saw investments by US investment tycoon Warren Buffett, Apple, International Business Machines Corp, Intel, and others.

The Israeli gauge returned 161 percent including dividends over the last decade, according to Bloomberg, coming behind Norway and Hong Kong.  But it was considered significantly more stable than either.

Governor of the Bank of Israel Stanley Fischer, is credited with much of the Israeli economy’s growth and stability.  Fischer is serving his second term, and has been a proponent of buying large amounts of foreign currency in an effort to help exports, which account for 40 percent of Israel’s gross domestic product.

Israel’s economy expanded approximately 4.8 percent in 2011, according to the International Monetary Fund, compared with 1.7 percent growth for the U.S.

Finance Ministry projections show Israel’s gross domestic product is expected to grow 3.2 percent in 2012, almost three  times the 1.2 percent average for the Group of 10 countries.

This year, the TA-25 had its best early part of the year since 1997, with a 3.1 percent rally in January, according to Bloomberg.  Teva pharmaceuticals and Dead Sea harvester Israel Chemicals comprise over 20 percent of the TA-25, but earn less than 6 percent of their revenues in Israel.

Apple Makes First Israeli Acquisition

Thursday, January 12th, 2012

After weeks of negotiations, computer mega-giant Apple has acquired its first Israeli company, Anobit Technologies, for $390 million.

Anobit, based in Herzliya, will develop high-performance flash-memory drive components for Apple’s ubiquitous iPhone and iPad.  The agreement was signed on January 6 and confirmed by Apple spokesman Steve Dowling on January 10.

Apple is also cultivating plans to open a semiconductor development center in Israel, a plan which is unrelated to the Anobit acquisition.

While the Anobit purchase is Apple’s first foray into the Israeli market, competitors Microsoft, Intel, and Hewlett-Packard already have labs and development centers in the country.  Intel opened its doors in Israel with five employees in 1974, according to Bloomberg business news, and now has 6,600 personnel in the country.  Microsoft’s Israeli research and development center opened in the spring of 2006.

Bloomberg reported that Israel has 60 companies featured on the Nasdaq Stock Market, the most of any country outside North America with the exception of China.  It is also home to the most startups per capita of any country in the world.

Israeli companies have been featured in several major international deals recently, including the sale of Israeli chip developer Zoran to the British makers of chips for Nokia Oyj mobile phones and the $307 million acquisition of Tel Aviv information technology firm Ness Technologies by Citi Venture Capital International.

The Bloom Comes Off The Mayor

Wednesday, December 10th, 2008

Mayor Bloomberg has enjoyed the sort of adulatory media coverage that would make even Barack Obama envious. Well, maybe not Obama, but certainly any merely mortal politician. Which makes Fred Siegel’s stubborn refusal to join Bloomberg’s Hallelujah chorus all the more startling.

Siegel, a senior fellow at the Manhattan Institute’s Center for Civic Innovation and a prolific writer on New York City politics, has long been a discordant voice among a local and national punditocracy all too eager to spread the message that Bloomberg, in the words of former New Yorker editor Tina Brown, is “the city’s greatest mayor.”

Recently, Brown and five other prominent New Yorkers were asked by New York magazine to name the ten individuals “who reshaped the city.” Four of the six had Bloomberg on their list. Only two included Rudy Giuliani, and one of those gave him a decidedly mixed review.

To illustrate the absurdity of the above, just think back to the state of the city in January 1993 when Giuliani took over from David Dinkins and the state of the city (9/11 notwithstanding) in January 2002 when Bloomberg took over from Giuliani. Which mayor faced the greater challenges and which has left more of an impact on the city?

At any rate, getting back to Fred Siegel, he’s lately been in a higher state of dungeon than usual about Bloomberg, mainly, as he wrote in the New York Post, because of the way the mayor “deployed his vast personal and political power to overturn the term limits law … [and] his unlawful refusal to send out property tax rebate checks that have been due since Oct. 1.”

Siegel quoted Bloomberg’s excuse that “We have no money … this is not a legal issue, it’s a fiscal issue” – a statement, according to Siegel, “that boils down to ‘I know better.’”

Don’t believe it, said Siegel; “the cupboards are bare because Bloomberg has emptied them for his own political ambitions. While the stock market was heading south, Bloomberg, one eye on a potential presidential run, raised his approval numbers by expanding the city payroll. Since 2004, he has hired at least 40,000 new city employees, while bringing his own mayoral staff to record levels.…”

And, continued Siegel, while “Bloomberg touts himself as a CEO who can negotiate the best deal for the city … part of running the city includes bargaining with people he can neither give orders to, nor buy like the City Council. That’s made Bloomberg a singular failure in Albany, where the mayor tried to steamroll his ill-conceived congestion pricing plan through the Assembly.

“The plan, which seemed designed as much to provide Bloomberg with a green issue for his presidential campaign as to decongest Manhattan, met with a skeptical response. Bloomberg’s reaction was to blame his defeat on ‘gutless’ opponents. While arguing over whether to reauthorize Off Track Betting, the mayor clashed with the normally mild-mannered Governor Paterson, whose support is essential for the city; Paterson came away describing the mayor to the Post’s Fred Dicker as ‘a nasty, untrustworthy, tantrum-prone liar who has little use for average New Yorkers.’”

Siegel went after the mayor in similar fashion last month in The Weekly Standard, writing that “Until a few weeks ago New York had a term-limits law – twice ratified by public referenda – that limited the mayor and the city council to eight years in office. Bloomberg could have held a referendum on overturning them – a referendum he was very likely to win given his 70 percent approval rating. But there were dangers in taking the democratic path. The referendum would have been scheduled for February 2009, and, as Baruch College’s Doug Muzzio notes, voters are likely to be hit before then by hikes in their property taxes, water bills, and subway fares.…

“Instead, operating on the basis of ambiguities in the city charter, Bloomberg strong-armed the city council into overturning term-limits: threatening to cut off funds to their districts and stop his ‘anonymous’ donations to the nonprofits they count on to get out the vote if they opposed his plan.”

Mincing no words, Siegel mocked the mayor’s claims of indispensability: “For the time being Bloomberg, who presided over the great spending spree of the last few years, has been reduced to insisting that only a genius like himself can save Gotham from the fiscal dangers imposed by Wall Street’s collapse (and his own maladministration).”

13th Ave., Brooklyn

Wednesday, July 25th, 2007

Question: How do you rate Michael Bloomberg’s performance as mayor of New York?

 

 


I just moved to New York a year ago. The last time I was here, seven years ago, I got a very bad impression of the city. I think Bloomberg has totally changed the city. Scholastically, New York offers many opportunities for struggling students. There’s no doubt about it: New York is an expensive place, but if you can make a living here, it’s the best place to live.


 – Avi Lieber, student

 

 

 


Bloomberg has been doing a fine job as mayor. He’s improved New York financially; we are now out of the red. Since he’s been mayor my commute has become pricier, but a lot smoother too. He stills needs to work on education reform. Many people would like to see him run for president, and I’m one of them.


 – Duvi Spira, warehouse manager

 

 

 

 


He isn’t as good as Giuliani but he’s far better than Dinkins. I do admit that he has performed better than I expected. I thought he didn’t have enough political experience, just business, but I see now that he knows what he’s doing. He improved the quality of life for New Yorkers; I personally know people who quit smoking because of his anti-cigarette campaign. 


 – Yitzchak Barber, student

 

 

 


He is a great mayor. Crime is down in the city and revenue is up. Many have complained about the ticket blitz from sanitation and the DMV, but in the long run this could be a good thing by making people think twice before breaking the law.


 – Shlomo Maghen, student

Green For Mayor

Friday, November 30th, 2001

The Jewish Press endorses Mark Green for Mayor of the City of New York. Of the two candidates, Mr. Green is clearly the one to lead our rebuilding efforts in the aftermath of the devastating events of September 11. He is also unquestionably the one to heal the terrible racial tension unleashed by the very sad Democratic primary.

Mike Bloomberg offers himself as the paradigmatic, no-nonsense CEO who can get his arms around the New York City colossus and make it work. He essentially argues that he has built a business from scratch and has created more than eight thousand jobs. While this would properly place him at the very top of most any list for Businessman of the Decade, the Mayoralty of the City of New York is a very different thing. The vast, entrenched New York City governmental bureaucracy presents a far more complicated challenge than a work force subject to a CEO's power to hire and fire. Nor are the skills making for success in pursuing the financial bottom line necessarily transferable to the meeting of the variegated needs of eight million New Yorkers. And while Mr. Bloomberg would certainly bring much to the table in terms of organizing the rebuilding effort, he has not persuaded us that he has an appreciation of New York beyond its bricks and mortar. In short, Mike Bloomberg has scant experience with the governmental process, and it seems a somewhat presumptuous message that this is his greatest qualification.

Mark Green has been on the political scene for more than twenty years, most recently as Public Advocate since 1993. Prior to that, as an activist attorney and community advocate he participated first hand in the governmental process through the courts and Congress, many times forcing the executive branch in Washington to take certain action. Of particular interest was his work in getting the Carter administration to release an estimated quarter of a million pages of secret documents disclosing the names of the American companies that participated in the Arab boycott of Israel from 1965 until late 1977. To be sure, we have not always agreed with Mark Green's immediate goals, but there can be no denying that he has developed an expertise in identifying which governmental buttons are to be pushed to get things done.

We are also very concerned with the way Mr. Bloomberg has tried to harness the race issue to his campaign. It was truly unfortunate that a public personality of the calibre of Fernando Ferrer allowed his primary campaign message to degenerate into an overt appeal along the “them v. us” lines. And when the Bronx Borough President was catapulted to the top of the Democratic heap by the endorsement of Al Sharpton with the consequent huge political debt thereby incurred, matters were made even worse. But even more alarming is the Bloomberg campaign's Alice-In-Wonderland effort to portray Green's challenge to the Ferrer/ Sharpton patent racism as racial pandering!

Further, although it is not well known, Bloomberg is running not only on the Republican line, but also on the line of the Independence Party, the party of Leonora Fulani, the onetime Presidential candidate who once criticized black leaders for “pandering to Jews.” Fulani and other party stalwarts continue to play significant roles in Bloomberg's election effort.

And there is also the matter of Bloomberg's reaction to the outrageous Amsterdam News editorial endorsing him. “Not the words I would use,” he said. But here is part of what Amsterdam News Publisher Bill Tatum had to say in the editorial:

Mark Green…became the Democratic nominee for mayor by stealing the primary election from Fernando Ferrer and then denying that this is what had been planned and executed by his Jewish mafia from Borough Park and other heavily populated Jewish areas in the city, especially where the Orthodox sect predominates.

Does “Not the words I would use” really do it? We think not.

Bloomberg also fosters an odd sense of unease ? almost that one does not really know him or what he stands for. He has campaigned as the Republican candidate and as a political conservative. Yet, the other day he declared at a political event, to Governor Pataki's visible dismay, that he was really a “liberal” in his thinking. Indeed, until the current political season, Bloomberg was a registered Democrat and contributed substantial sums to liberal causes. It is surely not for nothing that he is being shunned by a significant part of the Republican Party leadership. And, significantly, Bloomberg has made a public point of his severely limiting his financial support for religious causes.

Mark Green has attracted the support of a broad spectrum in the Jewish community, and it is apparent that several members of our community are among his valued advisors. It is quite clear to us that the needs of our community will be more likely to get a hearing on a level playing field in a Green administration than in one headed by Mr. Bloomberg.

Printed from: http://www.jewishpress.com/indepth/editorial/green-for-mayor/2001/11/30/

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