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New York Democrat Comptroller Candidate’s Plan to Divest From Israel Is Imprudent, Republican Opponent Says
Joseph Hernandez, Republican candidate for New York State Comptroller, speaking with voters. Photo: Hernandez campaign
The plan of a Democratic candidate for New York comptroller to divest the state of its holdings in Israel bonds violates the fiduciary duties of an office which oversees the management of hundreds of billions of dollars in pension funds and other assets, his Republican opponent, Joseph Hernandez, told The Algemeiner during an exclusive interview on Monday.
Hernandez, a Cuban refugee whose family fled the Castro regime, explained that the proposal, promised by former Kansas state Rep. Raj Goyle (who moved to New York after a failed bid for US Congress in 2010), would amount to an endorsement of the boycott, divestment, and sanctions (BDS) movement against Israel while alienating a country widely regarded as arguably the most reliable US ally.
Israel bonds, he added, are one of the safest assets a government could own. He has promised to invest $1 billion in them if he is elected.
“From a purely financial perspective, these are good investments. You would put your own money in this for sure, and you shouldn’t apply politics to the equation,” he said. “Imagine if we stopped investing the bonds of other foreign countries or vice versa because of disagreements over policy. That’s just bad decision making.”
“The economic rationale for investing in Israeli bonds is impeccable,” Hernandez continued. “Israel has an exploding technology sector producing giant leaps in artificial intelligence and the next generation of health care and biotech. We should be partnering with them in these areas, beyond the bonds. I think the relationship, from an investment perspective, should be broader. As the fiduciary and ultimately as the sole trustee of the New York State pension fund, I will seek ways not only to increase investment on the bonds side but also to collaborate on bringing the next generation of technologies to New York and promote a new era of job growth in the state.”
In New York City specifically, records show that Israel bonds, historically yielding approximately 5 percent annually, have outperformed many alternatives.
As for the state overall, Israeli firms pour billions of dollars and tens of thousands of jobs into the local economy, and business experts have warned that a push for divestment could lead Israeli-associated and Jewish-owned companies to leave.
A study released by the United States-Israel Business Alliance in October revealed that, based on 2024 data, 590 Israeli-founded companies directly created 27,471 jobs in New York City that year and indirectly created over 50,000 jobs when accounting for related factors, such as buying and shipping local products.
These firms generated $8.1 billion in total earnings, adding an estimated $12.4 billion in value to the city’s economy and $17.9 billion in total gross economic output.
As for the entire state, the report, titled the “2025 New York – Israel Economic Impact Report,” found that 648 Israeli-founded companies generated $8.6 billion in total earnings and $19.5 billion in gross economic output, contributing a striking $13.3 billion in added value to the economy. These businesses also directly created 28,524 jobs and a total of 57,145 when accounting for related factors.
From financial tech leaders like Fireblocks to cybersecurity powerhouse Wiz, Israeli entrepreneurs have become indispensable to the innovation ecosystem. The number of Israeli-founded “unicorns,” privately held companies with a valuation of at least $1 billion, operating in New York City has quadrupled since 2019, increasing from five to 20.
However, anti-Israel activists in the US have been pushing for state and local governments, in addition to businesses, universities, and various cultural forums to divest all assets from Israel-linked entities in accordance with the BDS movement.
The BDS movement seeks to isolate Israel on the international stage as the first step toward its elimination. Leaders of the movement have repeatedly stated their goal is to destroy the world’s only Jewish state.
Goyle’s plan would enact the divestment component of BDS by aiming to limit Israel’s capacity to issue bonds for the purpose of borrowing money, a core function of government which raises capital for expenditures such as roads and bridges while contributing to economic health, market stabilization, and a high credit rating.
The New York Post reported last month that Goyle wants to fully divest $338 million in foreign assets, including Israel bonds, from New York’s retirement fund.
“I’m here to tell you that when I am comptroller, we will not renew the foreign bond portfolio of the state comptroller’s office and that includes Israel bonds,” Goyle told a gathering of supporters of the left-wing Working Families Party. “We will not send a blank check for [Israeli Prime Minister] Benjamin Netanyahu’s war crimes in Gaza.”
The state comptroller’s office manages pensions for state and municipal workers and runs the Common Retirement Fund, one of the largest pension funds in the country with a $291 billion investment portfolio. It currently holds about $337.5 million in Israel bonds.
“I live in New York, the largest Jewish population outside of Israel. I see what this community contributes to America and to our society,” he said. “The relationship that we have is unbreakable and it is one we should continue to invest in both socially, politically, and financially.”
Across the political spectrum, Israel bonds are widely considered wise investments.
“They’re stable, they’re guaranteed, they’ve never had a problem, and it’s a good investment,” state Assemblyman David Weprin, a Democrat and former chair of the New York City Council Finance Committee, told the Post.
Goyle is not the only New York Democrat advocating a rupture in the state’s financial relationship with Israel. New York City Mayor Zohran Mamdani, who entered office last month, has been an outspoken supporter of the BDS movement.
Mamdani, a far-left democratic socialist who has made anti-Israel activism a cornerstone of his political career, has repeatedly accused Israel of “apartheid” and refused to recognize its right to exist as a Jewish state.
Such positions have raised alarm bells among not only New York’s Jewish community but also Israeli business owners and investors, who fear a hostile climate under Mamdani’s leadership.
His election came after former New York City Comptroller Brad Lander refused last year to renew some Israel bonds in the city’s pension fund, which is a separate entity. The office of then-Mayor Eric Adams accused Lander of pushing a political agenda by moving to withdraw millions of dollars in city pension funds from bonds issued by the Jewish state.
On Monday, Hernandez pledged to be beholden to New York’s taxpayers and not fringe ideological groups.
“There’s a reason that this is an independent elected role,” he concluded. “It’s supposed to be a role that doesn’t take political filters or use politics for decision making. This is about fiduciary duty and what it is in the best interest of the taxpayers, and I intend to execute to that effect.”
Both Goyle and Hernandez are vying to unseat incumbent state Comptroller Tom DiNapoli, a Democrat.
Follow Dion J. Pierre @DionJPierre.
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A new Hebrew press in Berlin argues that Israel doesn’t own the language
(JTA) — Dory Manor and Moshe Sakal, who run a press for Hebrew literature in Berlin, are often asked if their business is Israeli.
The partners in life and publishing come from Israel, though they have lived in Berlin and Paris for the better part of two decades. But they say their publishing house, Altneuland, is neither Israeli nor European. Instead, they sought to create a home for Hebrew literature from around the world — open to Israeli writers, but free from Israeli state funding.
Altneuland is the first non-religious Hebrew publishing house to set up outside of Israel since the state was established. Manor and Sakal founded the press in 2024, and this fall, Altneuland will launch in the United States.
“I believe that the Hebrew language is not only a national language,” said Manor, the editor-in-chief. “Hebrew has always been a global language, and even modern Hebrew has been an international language — mostly European, but not only — before the creation of the State of Israel.”
Manor and Sakal have expanded their mission from Hebrew literature to publishing Jewish authors across languages, including German, French, Russian and Yiddish. The U.S. launch will include an original English-language book by Ruth Margalit, along with English translations of Hebrew novels by Noa Yedlin and Itamar Orlev.
Altneuland is also the German publisher of “The Future is Peace,” a New York Times bestseller by Israeli Maoz Inon, whose kibbutznik parents were killed on Oct. 7, 2023, and Palestinian Aziz Abu Sarah, whose brother died in 1990 after being tortured in an Israeli prison.
In a time when thousands of authors and publishers globally have pledged to boycott Israeli institutions over what they identify as a genocide perpetrated by Israel in Gaza, Manor and Sakal say that Altneuland is not a boycott. They work with writers who live in Israel and sell to Israeli bookstores. Establishing a Berlin-based publishing house made them ineligible for Israeli public funding so they could avoid the fraught question of accepting support from the government.
Sakal, the publisher, acknowledged that Israel was a center for Hebrew and Jewish literature, but said it doesn’t have to be the only center. “We are not replacing it,” he said. “We are doing something else.”
Altneuland allows the founders to work with Israelis while staying apart from the Israeli Ministry of Culture, which provides funding for Israel’s publishing industry, largely through literary awards.
In January, the ministry canceled its annual culture prizes. Culture Minister Miki Zohar, a member of Prime Minister Benjamin Netanyahu’s right-wing Likud party, cited the political bent of the prizes and said their cancellation was owed to the organizers “clearly ignoring artists whose opinions are held by most of the country.” The cuts came shortly after Zohar launched an alternative state film award ceremony, cutting funds to the Ophir Awards — Israel’s equivalent of the Oscars — after it awarded best film to “The Sea,” about a Palestinian boy in the West Bank who attempts to go to Tel Aviv and see the sea.
Israel’s literary world, which pays poorly and lacks broad recognition, depends heavily on state-sponsored prizes.
“This government is, for me, an enemy of Israel and not Israel itself,” said Manor. “So no, I’m not boycotting anyone, but I don’t want to deal with the current Israeli government. I do want to deal with Israeli readers, with Israeli writers.”
Those writers share many of Manor and Sakal’s political views. The founders’ goal is to make Altneuland a home for Jewish authors with a liberal outlook — especially those who feel pressured by rising nationalism, whether in Israel or elsewhere.
Margalit, a Tel Aviv-based journalist, will publish a collection of her political and cultural profiles in Israel through a collaboration between Altneuland and Pushkin Press. Her book, “In the Belly of the Whale: Portraits from a Fractured Israel,” is coming out in September.
Margalit said she was drawn to Manor and Sakal’s “humanist spirit,” along with their ability to publish the book simultaneously in English, Hebrew and German.
“At a time when so many people are quick to jump to labels or cancellations, it was bracing to find thoughtful partners who were similarly aggrieved about the political situation as I was,” she said.
Arad’s Hebrew novel, “Our Lady of Kazan,” will be published in German by Altneuland as “Kinderwunsch” in July. Arad, an Israeli-born writer, has lived in California for over 20 years and authored 12 books of Hebrew fiction. One Haaretz reviewer summed her up as “the finest living author writing in Hebrew” who was “in exile in the U.S.”
Arad’s books, often featured on bestseller lists in Israel, tend to deal with Israelis living abroad. The theme fits into the global perspective of Altneuland, targeting readers who are curious about crossing national boundaries.
“I’ve been thrilled to see that Israeli readers are willing — even eager — to read stories about Israeli expatriates,” said Arad. “The experience of living outside Israel, whether temporarily for work or study or on a more permanent basis, has become a central theme in Hebrew literature.”
Altneuland takes its tongue-in-cheek name from Theodor Herzl’s 1902 novel, literally meaning “old new land.” The founder of political Zionism envisioned a utopic, multicultural Jewish state where Jews and Arabs lived peacefully together.
“When we finally decided to call our press Altneuland, it was because our Alteuland, an ‘old new land,’ is a land without territories. It is the Hebrew language,” said Manor.
Berlin is a thriving hub for up to 30,000 Israeli expatriates. Among them is a growing community of writers and intellectuals, including some who left Israel out of frustration and anger at their government.
Manor and Sakal see another reason for making Berlin their home base. They view Altneuland as a continuation of Schocken Verlag, a Jewish publishing house in Berlin that improbably persisted through the 1930s. Schocken Verlag was a cultural lifeline for Jews under Hitler’s regime, publishing books by Franz Kafka, Heinrich Heine, Rabbi Leo Baeck and Shmuel Yosef Agnon, a founding father of modern Hebrew literature.
In 1939, the publishing house was finally forced to shutter and moved to British Mandate Palestine. The reestablished Schocken Books lives on today as part of Penguin Random House. But Manor and Sakal said their project aligns with the original Schocken Verlag — the one destroyed by Nazism.
“What we find in both models is the possibility of a Jewish cultural space that is cosmopolitan, multilingual, humanist, non-national, and not dependent on a single territory,” said Sakal.
Altneuland has faced skepticism, particularly from Israel. Publisher and editor Oded Carmeli said in Haaretz, “The truth is that there aren’t enough Hebrew readers outside of Israel to support a publishing house – not even a bookstore, not even a shelf in a bookstore – and even if there were enough readers, no store in Berlin or Madrid would maintain such a shelf, for fear of repercussions.”
The Altneuland duo said their risky proposition is working out so far. Most of their Hebrew readers remain in Israel, where they are printing books in the thousands and going into second printings on select titles. But they are also cultivating a readership in Germany, where they print smaller special runs of Hebrew-language editions.
Naomi Firestone-Teeter, the CEO of the Jewish Book Council, said that Altneuland has emerged as pressure mounts on Jewish authors from the right and the left through “book bans, boycotts and cancellations.” (The council itself was recently criticized by dozens of Jewish authors for a “bias toward centering Israeli and Zionist voices.”)
“In this moment, we see their effort to build another home for Hebrew literature and Israeli voices as a meaningful contribution to the Jewish literary landscape,” said Firestone-Teeter.
Altneuland’s books in German and English are the fruit of collaborations with Pushkin Press and New Vessel Press. Manor said they were “positively surprised” when they began talks about working with publishers in Europe and North America. Those conversations began in the immediate aftermath of Oct. 7, and continued against the backdrop of a rising international chorus that has accused Israel of committing genocide in Gaza. So far, no one has boycotted them.
“Usually we had interesting talks, very open talks with people who understood, in most cases, the nuances between our being a Hebrew publishing house and Israel as a state, Israel as a regime,” said Manor. “This is something that we could not predict when we created Altneuland.”
The post A new Hebrew press in Berlin argues that Israel doesn’t own the language appeared first on The Forward.
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Jewish library and Chabad near Buenos Aires attacked, Argentine Jewish advocates say
(JTA) — Counterterrorism officials in Buenos Aires are investigating after a Jewish library and a Chabad center in a suburb in the Argentine capital were attacked last week.
On Thursday night, a Molotov cocktail was thrown at the Israeli Literary Center and Max Nordau Library in La Plata, according to a statement published Friday by the center’s board of directors. Multiple individuals “threw a blunt object filled with fuel at the front of the library, breaking windows and causing material damage,” the board said, noting that the device did not ignite and no one was injured.
The library, a secular educational center founded in 1912 that promotes Argentine Jewish culture, said it is reinforcing security measures in light of the attack.
On Sunday, the Chabad of La Plata was also attacked, according to DAIA, the Argentine Jewish community group, which condemned both attacks. DAIA, which first reported the Chabad attack, did not describe the nature of the attack beyond reporting no injuries.
“We are deeply concerned about the recurrence and the short timeframe of these incidents,” DAIA said in a statement.
The Ministry of Security of the Province of Buenos Aires and the Complex Crimes and Counterterrorism Unit of the Buenos Aires Provincial Police are investigating both attacks.
La Plata’s Jewish population numbers about 2,000, and its Chabad center has existed for more than 25 years. Argentina as a whole is home to the sixth-largest Jewish community in the world and the largest in Latin America, mostly centered in Buenos Aires.
“These acts of violence threaten democratic coexistence and the values of respect and pluralism that we defend our neighbors,” La Plata Mayor Julio Alak said. “We will not allow hatred and intolerance to have a place in our city.”
Argentina is the site of some of the deadliest attacks on Jewish institutions in modern history. A 1992 bombing of the Israeli Embassy in Buenos Aires killed 29 people, while a 1994 attack on the AMIA Jewish community center left more than 80 people dead. Argentina’s president, Javier Milei, a pro-Israel and philosemitic economist, has advanced efforts to hold Hezbollah and Iran responsible for their alleged role in the attacks after years of foot-dragging by prior leaders.
The incidents in La Plata come as Jewish institutions around the world are on high alert amid a string of attacks since the start of the U.S.-Israel war on Iran in February. Several synagogues and Israeli outposts in Europe have faced arson attacks that a group seen as tied to Iran have claimed responsibility for staging. No one has been injured in those attacks.
Argentina has also faced homegrown antisemitism scandals. In September, a video of a group of Buenos Aires high school students on a graduation trip chanting “Today we burn Jews” went viral, earning condemnation from Jewish community advocates and even Milei himself. The group, from the private school Escuela Humanos, was traveling with Escuela ORT, a Jewish school.
Following the attacks in La Plata, comments on a local news outlet’s Instagram post about the attack on the local Chabad Sunday were filled with antisemitic tropes, including blood libel and false flag theories. Antisemitism watchdogs say false flag allegations, holding that an operation is staged to look like an attack in order to garner sympathy for the victim or attribute blame to another party, have flourished in recent years against Jews and Israel.
The post Jewish library and Chabad near Buenos Aires attacked, Argentine Jewish advocates say appeared first on The Forward.
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Cornell’s Jewish president clashes with students following on-campus debate about Israel
(JTA) — Cornell University President Michael Kotlikoff and student protesters are trading accusations after an incident in which protesters surrounded the president’s car following an on-campus debate about Israel.
The protesters, from a group called Students for a Democratic Cornell, released a video appearing to show that President Michael Kotlikoff had backed up into one of them while a protester shouts that the car ran over his foot.
In response, Cornell released its own video depicting what it said was a “harassment and intimidation incident,” its enhanced version of which it said offered “complete footage of the parking lot interactions, instead of clips to support a narrative.” That video shows students surrounding the president’s car as he tries to exit his parking space. After he eventually departs, the students continue to mill around with no obvious indication of injury to any of them.
In a statement of his own, Kotlikoff said that despite being surrounded by protesters who banged on his car windows, he waited until his backup camera showed a clear path before maneuvering out of the spot.
“The behavior I experienced last night is not protest,” Kotlikoff said in his statement, released Friday night. “It is harassment and intimidation, with the direct motive of silencing speech. It has no place in an academic community, no place in a democracy, and can have no place at Cornell.”
In an Instagram post, the protesters rejected Kotlikoff’s claims that they banged on his car and that they had previous records of misconduct on campus. They also reiterated their allegation that he had struck them.
The incident marks a relatively rare example of a clash between a university and pro-Palestinian student protesters two years after the student encampment movement roiled campuses across the United States, including at Cornell. The Ivy League university, like many others, enacted new rules designed to constrain protests that have kept demonstrations at bay amid pressure from the Trump administration to curb what it said was antisemitism among protesters. In November, Cornell agreed to pay $60 million to resolve federal antisemitism allegations.
Kotlikoff became Cornell’s president in early 2025, saying at the time that he was “very comfortable with where Cornell is currently” following “two relatively peaceful semesters” in which there were only isolated incidents that violated university rules around protest. He soon rejected pro-Palestinian students’ demands to cut ties with the Technion university in Israel. But he also urged the campus to foster academic debate around the Israeli-Palestinian conflict.
The event that preceded his clash with students on Thursday represented a striking example of such debate. Sponsored by an ideologically diverse array of groups, including the pro-Israel advocacy groups StandWithUs and the Zionist Organization of America as well as the campus chapter of Students for Justice in Palestine, which has previously been suspended for violating university rules, the event was the second in a two-part “Israel-Palestine Debate Series.”
The series was organized by the Cornell Political Union according to a format its website says it has long maintained. The format features a lecture by a speaker followed by formal responses from students and an audience debate.
In the first event, held earlier in April, the Israeli historian Benny Morris lectured on the topic “The American-Israeli Alliance Serves America’s Interests.” Morris is a liberal Zionist critic of the Israeli government whose work has included foundational research on the founding of the state arguing that many Arabs were expelled, rather than fled, during the 1948 war.
The second, on Thursday, featured the pro-Palestinian Holocaust historian Norman Finkelstein, who lectured on the topic “Israel Was Not Justified in Its Response to October 7th.” Finkelstein, who has criticized Morris for showing a pro-Israel bias, has compared the plight of the Palestinians to that of Jews during the Holocaust, and Students for Justice in Palestine posted a picture of its members posing with him on Thursday.
Kotlikoff offered introductory remarks at the event, which promoted a no-technology policy designed “out of respect to student[s] who will be given the opportunity to speak openly on a divisive topic.”
The post Cornell’s Jewish president clashes with students following on-campus debate about Israel appeared first on The Forward.
