 The Value of Membership In the midst of unprecedented economic upheaval, businesses and professionals are being challenged unlike ever before to perform—and even survive. Through all of these challenges the best resource is a positive attitude. Don’t underestimate the power this creates for you each day. Remember not to let the headlines pull you down, instead use your energy to meet with partners and potential clients. By choosing to renew your FACC membership you make a very bold and deliberate choice to challenge the crisis and take charge of your career, and we will not let you down. Stay connected with the FACC network and arm yourself with good ideas and contacts and plug into the network! It is time to move from good to great, to improve. Let the FACC be your resource for connections, contacts, motivational experiences and business results. The community is here to serve as your meeting place during these turbulent times. Click here to become a member. Top   This modern Airbus A330 offers the latest technology According to Kati Ihamäki, Finnair’s VP of Sustainable Development, international travelers ask themselves these questions more and more—especially those who want to 'go green.' "Today, making environmentally sound choices is far from easy. Despite all the available information and ongoing discussions in the media, the environmental as well as the social impact of the airline industry on the environment is unclear," says Ihamäki, a veteran at Finnair, the national carrier of Finland and FACC NY sustaining member. For the past year, she has led the restructuring of the company’s environmental and sustainability operations. Another cornerstone of Finnair’s green thinking lies in taking responsibility for its environmental impact. So far it appears that consumers’ views agree with those of Finnair: the responsibility should stay with the airline. Ihamäki explains, "For instance, the A330s that was introduced on the route between Helsinki and North America on April 6, 2009, releases 20 per cent less emissions than previous long-haul aircraft. "The emissions calculator that we launched less than a year ago is being updated," notes Ihamäki. "In addition to calculating the distance, fuel consumption and CO2 emissions resulting from one’s trip on Finnair's routes, the new calculator uses the aircraft type as the basis for the calculations and takes into account other emissions caused by flying and hauling cargo." After ten years of publishing environmental facts and figures, Finnair now shifts its focus onto sustainability in a wider context. "For the first time we will follow the recommendations of GRI (Global Reporting Initiative) and present information on topics such as our fleet, recycling and waste management onboard and on the ground, electronic services and engine washing", says Ihamäki. "These are all key ways for us to maximize eco-efficiency across operations," she concludes. Finnair blogs can be found on http://blogs.finnair.com. The current emissions calculator is found on http://www.finnair.fi/paastolaskuri/index_en.html. Environmental facts and figures from the past ten years are available on the Finnair Group website www.finnairgroup.com, under Publications. Top   Research has demonstrated that corporate wellness programs reduce medical costs and increase productivity. Yet the most critical piece to Corporate Wellness program design is data that can show tangible results and subsequent reductions in health care expenditures that will provide the employer with a return on investment. America’s Health Insurance Plans (AHIP) recently named Polar as their sole provider of heart rate and fitness assessment technology, identifying heart rate monitoring as the necessary bridge connecting wellness program design and fitness assessment to accountability and measured performance. With Polar technology, employers can: • Structure pre and post employee fitness assessments and track performance. • Reduce healthcare costs and differentiate offerings with a sustainable, manageable program. • Foster a community atmosphere with forums and challenges online and rewards for users staying on target. Polar Electro OY is known worldwide as the pioneering innovator of heart rate monitoring and fitness assessment technology, and the number one choice among consumers worldwide, helping athletes and exercisers "listen" to their bodies and manage physical activity properly. Polar’s ability to customize and implement preventative health programs has made them the leading provider of fitness assessment technology in over 10,000 K-12 public schools across the nation. Working with other companies on Corporate Wellness initiatives has become a natural outgrowth of Polar’s success in this area. For more information on how you can implement a Polar wellness program, please go to http://clubtechnology.polarusa.com/ahip_polar.html Photos: President and Chief Executive Officer of America's Health Insurance Plans (AHIP), Karen Ignagni and Jeff Padovan, President of FACC NY sustaining member, Polar Electro, Inc., met at AHIP Headquarters in Washington D.C. on March 26th to discuss their corporate wellness partnership. Top Visa Waiver Travelers to the U.S. Must Pre-Register! By Tara L. Vance
Previously, tourists and business visitors traveling to the U.S. for less than 90 days from Finland (and 34 other countries) could travel without a visa under the Visa Waiver Program. As of January 12, 2009, all Visa Waiver travelers are required to obtain beforehand travel authorization under the U.S. Department of Homeland Security’s Electronic System for Travel Authorization (ESTA). The purpose of ESTA is to strengthen travel security to the U.S. and to protect international airlines from liability for transporting foreign nationals who may not be eligible for entry into the U.S. The ESTA application is free and any web site asking for a fee for such an application is not the Department of Homeland Security’s web site. Use of a private service to apply for the ESTA and/or paying a fee for submission of such an application will not provide any advantage to the applicant. ESTA is applied for online at http://esta.cbp.dhs.gov and applicants should apply at least 3 days prior to their intended departure date. The automated form can be completed by the traveler or a third party and after submission of the application, which requests the traveler’s biographic and travel information, and asks seven security questions. Once submitted, the system will provide the applicant with an application number that should be keep by the applicant. If approved, the system will provide an Authorization Approved screen displaying the travel authorization expiration date, which the traveler should print out and keep with his or her passport. Prior to boarding a flight to the U.S., the airline will electronically verify with U.S. Customs and Border Protection that the traveler has an approved travel authorization on file. The travel authorization is valid for a period of 2 years from the date of authorization or until the traveler’s passport expires, whichever comes first. Ms. Tara Vance (who handles both corporate and immigration law as part of the Nordic Practice team at Holland & Knight) can be reached at: 212-513-3485, tara.vance@hklaw.com, www.hklaw.com. Top  March 5, 2009—Breakfast Meeting with Björn WahlroosThe Finnish American Chamber of Commerce New York (FACC) had Mr. Björn Wahlroos as guest of honor and guest speaker at their March 5, 2009, breakfast meeting. This event was held at the prestigious InterContinental The Barclay Hotel in New York City. The event was very well attended and the topic was: "The Economy & Financial Issues in Challenging Times" Wahlroos addressed the current situation with the stock market at lower levels than in years and the slowest world growth in generations creating a universal crisis. Financial services have had unprecedented failures and the melt down is the worst since the 1930s. He stressed the need for globalization and to avoid protectionism. His opinion was that this recession will not have a drawn out effect. The current situation is not normal and will improve in a year or so. Mortgage raters need to be regulated, demand and entrepreneurship stimulated as well as the flow of credit. Björn Wahlroos is the President and CEO of Sampo plc, the leading Finnish financial services group. He holds a PhD from the Swedish School of Economics and he has taught economics at, among other Universities, Brown and Northwestern. Björn Wahlroos held various positions with the Union Bank of Finland between 1985 and 1995. In 1992 he led a group of bankers from UBF in forming the investment banking partnership Mandatum & Co. Following the merger of Mandatum into the banking and insurance group Sampo-Leonia, Björn Wahlroos took over as its President and CEO in 2001. He has since headed the reorganization of that group into what today is Sampo plc. He is slated to take over as chairman at the next AGM in April 2009. Björn Wahlroos is also chairman of UPM-Kymmene, a member of the Board of Nordea Bank and an active member of the boards of several charities. Wahlroos mentioned that he is usually pessimistic, but he will now "join the club of optimists". He feels we are on the way to recovery, even if it will take time. Top  Luncheon March 19, 2009 with Suvi LindenOn a visit to the United States this week, Finnish commmunications minister Suvi Lindén discussed the efforts to improve public services through innovative use of information technology. Finland, like the United States, plans to be a frontrunner in providing electronic services to its citizens, Ms. Lindén said. "Only last week the Finnish government laid down important guidelines that help to digitalize both public and private services. The goal is that majority of all invoices will be electronic by 2011. At the same time all citizens shall have a single electronic account for public services," Ms. Lindén described. Another pioneering Finnish initiative is the use of electronic identification in public services. The Finnish government aims to develop functioning markets for e-identification in a way that allows consumers to choose from a variety of service options. The goal is for mobile e-identification to become the prevailing method to access public services by 2011. In the U.S., President Obama's administration has set out to significantly increase the use of IT in health services. In Finland the government has pushed forward legislation that forces all healthcare units and pharmacies to take up electronic medical prescriptions. "The initiatives in the health sector in both the U.S. and Finland are a great example of how IT can be used to enhance the quality of services as well as the quality of life of the people using them. Access to affordable, high-quality and high-speed broadband internet connections has been a primary goal of the Finnish information society policy, much in the same way that the Obama administration has prioritized broadband take-up. Currently, Finland ranks second in broadband connectivity in the European Union, with more than 99 percent of Finnish households having access to fixed network broadband services. Information society also raises a number of concerns, the minister remarked. These involve a range of issues related to privacy, security, copyright and consumer policies. Despite the gloomy state of the world economy, the IT sector continues to grow because of its value-adding role, the minister added. "IT aims to increase efficiency and cost effectiveness. It also brings along a spillover effect that helps us create new opportunities and jobs," she said. "Now is the time to consider how innovative services could be developed to create new demand and new markets and how they could better serve our citizens, businesses and public administration." Top  April 8, 2009—Breakfast Meeting with Bengt HolmströmThe Finnish American Chamber of Commerce New York held another successful breakfast meeting on April 8, 2009, with Professor Bengt Holmström as guest of honor and guest speaker at the InterContinental The Barclay Hotel. The topic was: "The Financial Crisis—Causes and Cures." Nobody had expected this deep recession. In the years leading up to the current recession, there was an illusion that money was there, but it was not. Holmström explained causes to the crisis. Mortgage funding was not regulated and people without assets could still buy homes. There were complicated loans. He also mentioned the growth in shadow banking, twice as big as the normal banking system, and that banks run on repos, overnight loans, which is one gigant deposit market. The mistakes were that risk ended up in wrong hands with excessive leverage. Holmström recommended short term measures such as stabilization of the banking system and government insurance schemes, but warned against rushing regulation. TARP (troubled assets relief program) will sort out toxic assets. His opinion is that the government should not run banks nor bail out companies such as GM. There are some positive signs such as the housing market showing life signs, the VIX is down to 40 from 70 (velocity index), the G-20 are coordinating and credit measures in Europe are stabilized. Bengt Holmström is the Paul A. Samuelson Professor of Economics at Massachusetts Institute of Technology. Professor Holmstrom is a board member of Nokia Corporation, the Aalto University Foundation and several academic advisory and scientific boards. Top  Young AssociatesThe Young Associates, a FACC New York membership category created in 2005, is an initiative to attract the younger generation with different programs, mainly evenings, but also a Vappu picnic, etc. The objectives are to create networking opportunities for younger Finns and other nationalities interested in Finland, Finnish culture or Finnish-related businesses operating in the U.S., to offer access to a young talent pool and to provide FACC events and related Nordic and other European events to younger members. The Young Associates of the Finnish American Chamber of Commerce have this year had informal meetings the first or second Thursday of the month to gather for a drink to network with other professionals and other FACC members at venues such as Bistro Benoit, Campbell Apartments and 230 Fifth Avenue. Everybody is welcome to join the networking! The next upcoming Young Associates event is the Vappu picnic in Central Park on May 2. For more information: youngassociatesnyc@gmail.com, faccnyc@verizon.net. Photo: On Thursday April 2nd the venue was 230 Fifth Rooftop Garden and Lounge. Top Future FACC Events
May 2 Young Associates Vappu/Spring Celebration in Central Park May 20 European American Chamber of Commerce joint networking event at Brasserie 8½ at 9 West 57th St Jun 2 FACC Annual meeting and lunch at the Consulate General of Finland Jun 3 Nordic Forum: "Green Leadership." A joint Nordic Chamber panel discussion and reception. Sep 10 Speaker event with Olli-Pekka Kallasvuo, Nokia Oct 15 "Nordic Open" Golf at Minisceongo Golf Club in Pomona, NY Oct European Networking onboard World Yacht Dec 3 FACC Annual Christmas Luncheon at Scandinavia House Finnish Cultural Events
May 4 Osmo Vänskä conducting the Minnesota Orchestra carnegiehall.org May 8 Susanna Mälkki conducting the Ensemble Intercontemporain lincolncenter.org May 10, 13, 16 SONOS Chamber Orchestra performing Pehr Henrik Nordgren sonoschamberorch.org May 12 Finnish Design & Sustainability with Interior Architect, Esa Vesmanen scandinaviahouse.org May 13–16 Esa-Pekka Salonen conducting the New York Philharmonics nyphil.com May 14–17 Jorma Elo Choreography with the Boston Ballet bostonballet.org May 22 Anna-Kristiina Kaappola & Mika Rännäli carnegiehall.org Sep 16 Gilbert & Fleming and overture written by composer Magnus Lindberg nyphil.org Sep 21 Karita Mattila in Tosca metoperafamily.org/metopera Recent Films from Scandinavia: Finland scandinaviahouse.org Jun 3, 6 "Black Ice" directed by Petri Kotwica (2007) Jun 10, 13 "The Border" directed by Lauri Törhönen (2007) Jun 17, 20 "Thomas" directed by Miika Soini (2008) Jun 24, 27 "Shadow of the Holy Book" directed by Arto Halonen (2008) Top  Sibelius Academy's CREATIVE DIALOGUE Symposium in Santa Fe, NMThe Sibelius Academy, in conjunction with its U.S. support foundation the Friends of The Sibelius Academy, an FACC NY corporate member, is presenting the 2nd annual CREATIVE DIALOGUE Symposium in Santa Fe, New Mexico. This year's workshop, taking place June 2nd to 9th, is being directed by the internationally acclaimed Finnish cellist Anssi Karttunen. Eight gifted cello students from leading American university music schools and the Sibelius Academy have been invited to participate. For more information about the Sibelius Academy visit www.siba.fi and to join the Friends of Sibelius to support Finnish music interests in the US, contact Leland Hoch at lelandhoch@mindspring.com Top  The City of Helsinki, Finland announces Invitation to Helsinki, a program that aims to build lasting relationships between the national capitals of Washington, DC and Helsinki, Finland. During March and April, 12 talented Washingtonians travel by invitation to Helsinki on individual journeys. Hosted by their Helsinki counterparts, they will experience the city on both professional and personal levels, and document their ongoing discoveries at www.myhelsinki.fi. MyHelsinki, an exhibition on view at the Embassy of Finland, Washington, DC during May 2009, will spotlight the Invitation to Helsinki program participants’ Helsinki discoveries and impressions. Part of a month-long presentation showcasing Helsinki, MyHelsinki is designed by Professor Timo Salli and his group from the University Of Art And Design Helsinki. The exhibition at the Embassy of Finland, located at 3301 Massachusetts Avenue, NW, will be open to the public from 2 May through 31 May, on Fridays, Saturdays and Sundays, and on Memorial Day, 11am–4pm. Photo credits: City of Helsinki Tourist & Convention Bureau Material Bank Top  Finland’s Economy Industrial output in Finland contracted rapidly in late 2008 and was 15% lower In December 2008 than in the same period in 2007, 4 percent lower than in November 2008. This was caused by a rapid decline in the export market. Finland’s GDP for 2008 shrank by less than 1% owing to growth early in the year. GDP is estimated to shrink by more than 2% in 2009. The central government budgetary position will slip into deficit this year for the first time in the present decade. General government debt was 33% in 2008, relatively small by international standards, but will increase substantially. The government has announced an economic stimulus plan of two millions euros (Finland has a population of 5.3 million). Source: City of Helsinki Communications Office. Photo credits: City of Helsinki Tourist & Convention Bureau Material Bank Top Innovation University "Aalto" readies itself
A new academic centre of innovation titled "Aalto University" will begin operations in Helsinki on January 1, 2010. The university is the result of a full merger of the leading universities in Finland in three fields that underlie successful economies: Helsinki University of Technology, the Helsinki School of Economics, and the University of Art and Design Helsinki. In merging some of the best thinking in Helsinki and through the synergies of the founding universities, Aalto University seeks to develop into a leading institution by global standards in research and education. Source: City of Helsinki Communications Office Top To unsubscribe, reply to this e-mail with “unsubscribe" in the subject line. You may also email us to change your email address. |
|
 Dear Readers,Based on our membership survey, the majority of our members prefer electronic newsletters. We are therefore launching the FACC e-news on a quarterly basis, starting with this issue. The FACC-NY celebrated its 60th Anniversary last year and this year we are continuing the year with great events involving outstanding speakers and activities. You can find reports on the events already this year in this newsletter as well as listings of our upcoming events. In addition, we have new benefits for our members. We have joined the network of European Chambers of Commerce and our members will be invited to the networking event on May 20 and in October in order to broaden their networks. We are also getting more connected with other Nordic Chambers and we will have our Annual Nordic Forum on June 3 with the theme "Green Leadership" in tune with environmental awareness. Don’t miss out, stay active and network as a member of the FACC NY. Best regards and wishes for a pleasant spring and summer. Please feel free to contact us at faccnyc@verizon.net with any questions or suggestions that you may have. Neal Beaton President FACC New YorkTop    Do You Have a Foreign Financial Account?If you have a foreign financial account, including a bank account, brokerage account, mutual fund, then you may be required to report the account yearly to the IRS. Each US person must file a Report of Foreign Bank and Financial Accounts (FBAR), if the person has financial interest in, signature authority over one or more accounts in a foreign country, and The value of the account exceeds $10,000 at any time during the calendar year. A “United States person” includes a US citizen, US resident or a person in and doing business in the United States. Reporting and Filing Information You may have a reporting obligation even though the account produces no taxable income. Checking the appropriate block on Form 1040 Schedule B, and filing Form TD F 90-22.1, Report of Foreign Bank Accounts satisfies your reporting obligation. You must mail the Form TD F 90 before June 30 of the following year to: U.S. Department of the Treasury P.O. Box 32621 Detroit, MI 48232-0621 The FBAR is not to be filed with the filer’s Federal income tax return. The granting, by IRS, of an extension to file Federal income tax returns does not extend the due date for filing an FBAR. Account holders who do not comply with the FBAR reporting requirements may be subject to civil and criminal penalties. Investigators use FBARs to help trace funds for illicit purposes or to identify unreported income maintained or generated abroad. Ann-Christine Westerlund, International Tax Advisor, www.westmusa.com westmusa@aol.com Top 
We are proud to welcome the following recent new members: David Heeroma Consultant—Applied Value 60 E. 42nd Street, suite 2825 New York, NY 10165 David.heeroma@appliedvalue.com Lauri IlmoniemiBuilder—licensed in New York City and the State of Connecticut 284 Main Street # 2D Beacon, NY 12508 ilmo@optonline.net Ceridwen "Ceri" Koski, Esq.Haker & Ozisik LLP 29 Broadway, Suite 1500 New York, New York 10006 ceridwen.koski@gmail.com Fabrice KriefVice President—Associate Broker Corcoran fabrice.krief@corcoran.com Fabricekrief.com Pia Skriko-Uhrlin3 Blind Brook Lane Rye, NY 10580 pskriko@khny.com Melton SpivakVice President—J.P. Morgan Chase 26 Brightview Drive West Hartford, CT 06117 Melton.l.spivak@jpmchase.com Toni ToikkaCEO—Alekstra Oy Lämmittäjänkatu 4a 00880 Helsinki, Finland toni.toikka@alekstra.com alekstra.com Top 
|
|---|