The importance of first impressions

"A first impression makes a lasting impression." As with most clichés, there's more than a kernel of truth in that statement.

I happened upon this thought during a recent business trip to Israel.  In the general chit-chat before our meeting was set to begin, I started talking with some colleagues about the "new" Israel airport.

Ben Gurion Airport's Terminal 3, Israel's international gateway was finally opened in October 2004 after more than ten years of planning and construction and almost five years behind schedule (it was originally supposed to coincide with the mass tourism expected in light of the millennium in the year 2000).

A beautiful, modern, comfortable, wifi equipped complex, Terminal 3 saw over 10 million international passengers in 2007, according to airport statistics and was ranked first out of forty European airports in a 2006 survey by the Airports Council International in terms of most customer-friendly airport.

This is in sharp contrast to the international terminal of old.

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Securing our security

As someone who travels to Israel from the United States on an almost monthly basis, I spend a fair bit of time comparing and contrasting the two cultures.

And while, as a regular visitor to Israel I am used to what has been recognized as amongst the best security in the world, on my last trip, I was particularly struck by a thought, that this emphasis on security would be considered an invasion of privacy in the United States.

Many years ago, even during the height of the Second Intifada and even more so in light of September 11th, I recognized that despite the almost daily media images and reports on the "violence" in Israel, I in fact feel safer in Israel than I do anywhere else in the world.

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Upgrading the Israeli currency rating

Israel's currency, the New Israeli Shekel (NIS), was upgraded by Standard & Poor's last week for the first time since 1995. What does this mean for the Hi -Tech Economy?

It was Harry S. Truman that once said "Give me a one-handed economist! All my economists say, on the one hand...on the other [hand]." Truman's expression is exactly how I feel when I think of the pros and cons of the NIS currency upgrade Israel received last week. On the one hand... there are many long-term advantages to having a strong Shekel rating and an internationally-validated economy. On the other hand...there are some short term effects of such a change that could have long-term ramifications.

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Ready for a raise: Israel's Chief Scientist's Office

The Chief Scientist's Office (OCS) has been fostering a lifeline for Israel's hi-tech sector since 1984*. Through grants and loans, the OCS has been delivering critical seed funds to select Israeli R&D companies; allocating more than NIS 1.2 billion in 2006 alone. They provide the much-needed early money for cutting-edge scientific advancements; yet their budget has been declining by roughly 10-15% annually over the past few years. Rather than shrinking the OCS allotment, the Finance Ministry should explore expanding the regular OCS budget. Here are a few reasons why:

Every shekel that is spent by the Chief Scientist's Office resurfaces within the Israeli economy several times over - sometimes even directly back into the Finance Ministry's coffers. As the grant-awarded new technologies begin generating earnings, these grants are converted into low-interest loans which are paid back through royalties arrangements. The government begins to recoup its money (plus interest) once the technology becomes successful. Typically about 30-40% of the OCS annual budget is from recurring royalty payments of years past.

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Ready for a raise: Israel's Chief Scientist's Office

Through grants and loans, the OCS has been delivering critical seed funds to select Israeli R&D companies; allocating more than NIS 1.2 billion in 2006 alone.

Silicon Valley on the Mediterranean

Israel is no stranger to seasoned investors. NASDAQ has more companies listed from Israel than India or China - economies several hundred times the size of Israel.

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