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Alan Hitsky
Associate Editor
tions. After separate trips to Israel last
year, Raz and Sider thought an Israel
practice group could maximize those
connections.
his is a business opportu-
Raz was born in Israel. Although he
nity," said Jaffe Raitt Huer &
Weiss attorney William Sider. grew up in Chicago, he has extended
family in Israel. His wife, Detroiter
Israel practice group chair Noam Raz
echoed, "There's nothing Jewish about Beth Bodzin, brought him here five
years ago. Like Sider, he is a member
creating business opportunities in
of Young Israel of Oak Park and both
southeast Michigan."
families' children attend Yeshivat
To do that, Southfield-based Jaffe
Raitt announced in late March the for- Akiva in Southfield.
mation of its Israel practice group.
But, Sider said,"Tzedakah [charity]
is one thing and busi-
"We're business
Staff photo by Angie Baan
ness is another. The
people said Sider.
Israel practice group
"You would have to
includes Jews and
be in a secure, dark
gentiles focused on the
closet not to realize
business opportunities.
that Michigan is in
"You need people
distress."
who are used to con-
He said Israel has
summating business
30 business incuba-
deals:' he said. "This
tors that have spun off
is where it ought to
hundreds of compa-
be and we hope it will
nies that are looking to
have some staying
market their products.
power. We wouldn't be
With Israel's popula-
tion at 7 million, many Noam Raz and William Sider doing this if it didn't
hosted an Israe li-themed
have upside potential."
of its companies look
The two attorneys
to export or build fac- event at the To wnsend.
point to similar pro-
tories overseas.
grams elsewhere in the U.S. Locally,
Sider said Israel has the third high-
Sider and Raz believe efforts like Jaffe
est number of foreign companies
listed on the NASDAQ stock exchange. Rakes as well as a Michigan-Israel
Business Bridge started in Ann Arbor
"Why should all those companies
by Charles Newman and efforts by
be on the [U.S.] East Coast?" They
local Israelis could eventually tie
believe Jaffe Raitt is in a position to
together.
get more heavily involved.
"The main ingredients," said Sider,
Their Israel practice group also
"are government support, capital mar-
includes Marko Belej, Robert Gordon,
kets and professional services — all
Ira Jaffe, Lawrence Jordan, Joan
Lowenstein, Arthur Weiss and Jaffe
three legs need to come together."
On April 26, Jaffe Raitt's Israel
Raitt CEO Richard Zussman.
practice group hosted a breakfast for
Many of the firm's 90 business law
40 people at Birmingham's Townsend
attorneys are involved in the Jewish
community, Raz said. Many have made Hotel. It featured a lecture on Israel's
economy by Yaacov Fisher, a former
annual personal or business trips to
Bank of Israel senior economist. Fl
Israel and have numerous connec-
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