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Members and colleagues, It’s no news to anyone that the world is suffering the worst economic shocks since the 1930s. A financial crisis that began in the United States, driven by a real estate bubble made worse by untested derivatives has spread to involve the world economy. Governments historically committed to free markets, and a minimal role in trade, are re-evaluating these policies. Massive state interventions are becoming common, as individual states try to restart their economies, encourage new lending and generate new jobs. At the same time, companies never less sure about the future have not only reduced or eliminated new investment, but embarked upon massive cost-cutting, beginning with the highest expense on the balance sheet: employees. But an economy in which more and more are laid off is an economy that spends less. Less consumer spending means less business income, and the vicious cycle continues. Individual nations’ exposure to these circumstances varies. Some countries are better provisioned to withstand this crisis than others, but all are involved in it. Globalization is no longer an option but today’s reality. How do individuals, businesses and nations protect themselves and prepare for the future in these times? The American Business Forum in Turkey (ABFT), affiliate of the U.S. Chamber of Commerce, will hold its 3rd annual Innovation Conference, “Innovation Loves A Challenge” June 11th, 2009 in Ýstanbul. Innovation can be the development of processes or products new to the world, improved product differentiation, or even new conceptual frameworks for considering business problems. But innovation is no longer optional for companies if they are to survive. In a world of such volatility in capital markets and consumer behavior, there is not much certainty to be had; except for the reality we’ll need new approaches. Markets must be examined from new perspectives. And companies need to ensure they are structured to encourage change. Since the entire purpose of a corporate structure is to guarantee predictability and adherence to data, deliberate encouragement of stability’s opposite, change will require new business courage. But there is no alternative to innovation if companies are to continue and to gain from this new world market. Our world economy has a single message now, and that message is “you will need to adapt.” We have assembled an impressive list of speakers from successful companies, academic institutions, NGOs and government. Our program will address technology, finance, leadership and the Turkish Silicon Valley Project. We will discuss regulation, competition and the challenges of modern entrepreneurship With this conference, ABFT continues its mission of expanding US-Turkish trade to the benefit of both countries. We hope you’ll join us and learn how to prepare your business and your portfolio for the challenges ahead. Our speakers include the best experts on innovation Turkey has to offer. It promises to be an exciting day of education, networking and discussion. We invite you to be part of it.  Galip Sukaya Chairman of the Board American Business Forum in Turkey ABFT |