Honoree Calls for Rejection of Cynicism Menzies Calls for “Advocacy Plus Personal Engagement to Make Financial Commitment Meaningful” in Address to Israel Bonds Luncheon

Mr Menzies Remarks:

“Before I communicate my thoughts about the mission we are serving today, may I take a moment of personal indulgence to thank the many friends and colleagues here today and back in your offices, who poured out congratulations and best wishes to me over the past 10 days, since I acquired Applied Underwriters from Berkshire Hathaway in an unprecedented landmark deal. It was not easy, as the many news articles explained, given the scope of the deal and the intricacies of Federal and State regulation, but it did work, almost as reported by the press. Let me say that the Wall Street Journal, the Associated Press and, in our industry, Business Insurance, mostly all got the facts straight and presented this great transaction  accurately – I see the President of Business Insurance here today, so I can thank him and his staff for objective and clear presentation thank you.

And now let me apply those two words to our subject today: Israel Bonds If we are “objective” in our analysis and “clear” in our sense of mission, we can easily understand the special importance of this cause, as it impacts our shared Judaeo – Christian heritage, our world view, world peace and stability and the balance of power in the world: and that is Israel.

To us as business leaders, Israel provides an important concrete and meaningful example of our shared heritage as responsible, prudent business and political leaders whose management of commercial affairs is marked by careful control of debt, in this case of public, sovereign debt. Israel’s approach in this makes the State of Israel Bonds Appeal, that much more, let us say,  appealing. As advocates of prudent investment and, by extension, as those who have faith in the State of Israel, our participation rewards best practices in economic leadership.

I admire the approach: at a time when many emerging nations simply wait for China to knock on the door, Israel has gone forth, selected its partners and its vehicle, and taken the initiative…and this is the result: a public / private initiative that really works as an economic proposition.

And it works for our country every day: Israel is vital for all Americans.

Those of us who are CEO’s can attest to the fact that we are frequently approached by associations, non-profits, charities, and a host of good causes asking that we be “honored,” to help with their fundraising efforts, so that we will ask our friends and suppliers to help fund that particular “cause”.… And that is just fine, but an honoree’s heart needs to be moved by the charity or the cause, enough to get the job done well, and to encourage commitment in others.

Not all causes are equal—let’s be honest.

This one, however, has great intrinsic merit as it aims at sustaining a vital democracy that faces danger every day and uses as one of its most effective weapons economic strength.

Ladies and gentlemen, frankly, you do not need Steve Menzies to stand up here today to remind you that the prosperity and vitality of Israel is critical. Some extremists – even some in elected office—argue to the contrary or express indifference—unbelievable as that may sound, but they just don’t get it; sorry. 

So, the messaging needs to be ours. Perhaps that’s why I was so pleased with the majority of the media last week.

The formula for us to adopt as business leaders is this one: Advocacy…plus personal engagement…make financial commitment focused and meaningful.

Let this be our leadership mandate: Advocacy…plus personal engagement…must combine to make financial commitment focused and meaningful.

While education remains the most important form of what ambassadors call cultural diplomacy, we are wedded to shared human values expressed in economic terms as well, beyond borders large and small, as a means of building public spirit—unfettered by pettiness or by the insane folly of political polemics…or, nowadays too prevalent—the painfully pessimistic view of our human nature and of our human condition—I mean pessimism about democracy, about our allies, about the world view as it is emerging, and about such critical pillars of US relations as Israel.   

Ladies and gentlemen, let us reject that cynical, negative view with our relentless advocacy, and with meaningful contributions.

We may comfortably use Israel as an exemplar of fiscal prudence and a worthy investment.

I regularly have occasion to speak about public debt management and sovereign responsibility for effective long term budgeting and financial probity.

May I say that it can be a struggle to find good, useful examples among the world’s nations—especially those of comparable size to Israel. The numbers do not lie. Israel is a good bet for investors and for commerce.

Our formula works: Advocacy plus personal engagement make financial commitment focused and meaningful…let that work for Israel, for US interests everywhere, and for us here at home.”