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banking on Israeli IT

Thursday 20 March, 2008

The Israeli Economic Mission to the Midwest hosted an event last week entitled “Banking on Israel IT” sponsored by Grant Thornton, The Israel Export & International Cooperation Institute, AeA, America-Israel Chamber of Commerce, Bird Foundation, Illinois Dept of Commerce & Economic Opportunity, & Katten Muchin Rosenman LLP.

Michael Strauss of the Chicago Federal Reserve Bank made the Keynote presentation on an economic assessment of the US economy which is attached:  strauss israel presentation  It didn’t contain any interesting new international information, so there’s not much I can add.

Mark Schittig, Director of the Division of Risk Management @ the Fed in Chicago, made a presentation on Regulation & IT solution management but since much of the focus was on security, I guess they didn’t want to give hackers any fodder for thought.

Israel Tenenbaum, Director of the ICT Dept of the Israel Export & International Cooperation Institute made a short presentation which essentially introduced the visiting Israeli firms  tenenbaum ieici presentation Although it’s somewhat repetitive, here’s some additional information on the visiting companies  israeli IT co. details  He pretty much just read through the presentation, so there’s not much for me to add to what he presented.

Illinois exported electrical & non-electrical machinery & transportation equipment & other things worth over $148 million in 2005, down 4.68% from 2004. Other products exported to Israel include optic, photo, medical surgical instruments, organic chemicals, precious stones, plastics, non-railway vehicles, pharmaceuticals, articles of iron or steel, & aircraft.  About 200 Illinois companies have subsidiaries in Israel, such as American National Can Co.,  A.Epstein & Sons International, Motorola, Bi-Logic Systems, & Sara Lee.

Israel lists 100 NASDAQ companies & exports $3.6 billion worth of software.   It appeared as if Grant Thornton had arranged all the meetings for the visiting firms & held them in their offices.

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