Month: February 2020

BY GAREN YEGPARIAN

You might think this piece has an exaggerated title. But, take a look at the accompanying graph. What would you call an 11-year-long decline in the value of something? And yes, even money, has a “price” and in this case (weird though this might seem as a concept), the Turkish Lira’s just keeps on dropping.

As with all economic phenomena, the value of currencies can become a real complicated mess, tough to understand and impacted by all sorts of factors and actors, not just economic ones. Currency woes can be addressed by some actions taken by a country’s central bank, but these are of limited value and can be undertaken for a short time only.

But why should we, as Armenians, care what happens to Turkey’s money? A country’s currency is a major connection to the rest of the world and to its internal policies.

When the Turkish Lira’s value falls, life becomes more difficult for its residents since anything imported becomes more expensive (think energy/fuel in particular since that impacts everything else’s prices). At the same time, paying for money borrowed from international sources becomes more expensive for the government (and Turkey has a lot of foreign debt). At the same time, it becomes easier to export goods since they have become cheaper for outsiders, which can help the country’s economy. But, exports can be impacted by the country’s political relations. And it just keeps going on. At the same time, private sector actors, investors/speculators, could be trying to make money off a country’s currency’s misfortune, and as a result, drive its value down even further.

One source lists three factors as possible causes of currency crises: a country borrows; currency values increased rapidly; uncertainty over the government’s actions unsettles investors.

The last one on the list is particularly interesting and reflective of Turkey’s current situation. It has picked a needless fight with Syria and is now burning money on war outside its own borders and inside, supporting the huge refugee exodus from Syria. At the same time, economic and fiscal policy seems to be dictated by political considerations, leading one observer, in the summer of 2018, to describe the situation as “Asking your citizens to search under their pillows for foreign banknotes and gold to convert into domestic currency…”

Turkey is messing around in chaotic Libya; creating tensions with Cyprus, Egypt, and Israel over access to undersea resources (oil and gas) in the eastern Mediterranean; building military bases in other countries; oppressing, persecuting, and repressing its Kurdish population; waging anti Armenian, Assyrian, Greek, and Kurdish propaganda all over the world; undertaking huge and somewhat pointless projects such as the new presidential place, oversized airport, and a canal that would create a new passage between the Black and Aegean Seas; and distancing itself from decades-long allies in NATO by flirting with Russia. All of this requires resources, money, time, credibility, leadership attention, which are in short supply.

While some of these actions may well be in Turkey’s best interest, they all assuredly stem from its President Erdogan’s political calculations and machinations along with his massive ego. His hold on power is getting more tenuous so he is creating distractions for his people while rallying them to his artificially created “causes”. He is therefore susceptible to financial pressures, such as when U.S. President Trump slapped tariffs on Turkish steel and aluminum and threatened to mess with the Lira. In response to such actions, if Erdogan follows the best policy path, he risks looking “weak”, something his supporters would not stomach. If he acts in his usual arrogant way, he further damages the country’s economy and currency (as he may be doing now judging by the insufficient response to the Lira’s condition by Turkey’s central bank), setting the stage for much more drastic woes in the future, leading to loss of political support.

If you take another look at the accompanying chart, and notice the dates, you’ll realize that the Lira’s fall has paralleled Erdogan’s increasing consolidation of power over time.

Where does all this leave us? Perhaps it’s time for some of the wealthiest members of our communities, along with those who are engaged in the world’s various financial markets, to turn their attention to the Turkish Lira. They can help weaken the currency, thus weakening Turkey and driving Erdogan to make more mistakes while making money at the same time. If you fit this description or know someone who does that you can recruit to such an effort, get to work.

Western Prelate Archbishop Moushegh Mardirossian welcomed the visit of Armenian Bone Marrow Donor Registry representatives to the Prelacy, headed by President Dr. Frieda Jordan. Archpriest Nareg Pehlivaian also joined in the visit, which took place on Wednesday, February 12.

Dr. Jordan first expressed thanks to the Prelate for welcoming the ABMDR members to the Prelacy each year to hear about the organization’s current and future plans. ABMDR members announced the expansion of their endeavors in the past year – now extending to Greece – with immediate plans for further expansion, as well an increase in the number of registered donors. Dr. Jordan referenced the support of community organizations and hospitals in the ABMDR’s success, and expressed her gratitude to the Prelate for bringing awareness to the organization’s mission through the Prelacy and its churches. Finally, the guests reported on their main forthcoming endeavors.

Prelate Mardirossian highly commended the ABMDR’s massive, vast, and valuable work, blessed the devoted service of its members, and concluded by presenting mementos.

Three months after Armenia Fund’s 2019 Telethon, the flow of donations continues, with the total reaching $11,155,985 as of February 12. Since the beginning of December, the pledges have increased by $920,138․ A number of these funds have already been transferred into the bank accounts of the Hayastan All Armenian Fund and its affiliate organizations.

This year, an unprecedented number of people participated in the All Armenian fundraising, with 10,000 individuals and organizations from Armenia and Artsakh alone. Given the number of individuals involved in these organizations, the actual participation rate is much higher. Around 25,000 people from the Diaspora contributed to the Fund. According to the Fund’s new mission, emphasis is placed on participation, hence this year’s encouraging numbers. We are grateful to each and every donor. Together, we will create a stronger homeland.

As for online donations, the global network of the Armenian Fund has 5,000 online donors – 1,550 of them are registered on the website of Armenia Fund, Inc. Los Angeles – with $560,000 annual total donations. In total, around 1,938 of these individuals joined our innovative recurring donation system, supporting the idea of #OneCupofCoffee.”

Incidentally, several public figures from both Armenia and the Diaspora joined the #ArmeniaFundChallenge, among them Prime Minister Nikol Pashinyan, RA National Assembly Speaker, National Assembly Deputy Speakers, Serge Tankian, Alexis Ohanian, Erik Esrailian, Vahe Berberian, Iveta Mukuchyan, Khoren Levonyan, and others. The slogan of the 22nd annual Telethon was “To my beloved Armenia … Water and Sun for Communities.” Consequently, the funds raised will primarily be spent on the installation of potable water systems and solar panels in Artsakh and some regions of Armenia.

Hayastan All Armenian Fund’s mission is to create an all-Armenian network for the sole purpose of ensuring the proportional and sustainable development of Armenia, Artsakh, as well as Armenian communities worldwide, based on common identity.

Ralph and Savey Tufenkian Donate $100,000

LOS ANGELES—More than 600 dedicated community members, parents, alumni, dignitaries, and supporters of St. Mary’s Richard Tufenkian Preschool and Kindergarten attended the school’s 45th Anniversary Gala at the California Science Center on Saturday, February 8, where the official launch of the capital campaign for the school’s Tufenkian 2025 Modernization and Expansion Project was celebrated under the wings of the Endeavour Space Shuttle.

Among those in attendance were Western Prelate Archbishop Moushegh Mardirossian; Prelacy Vica-General Bishop Torkom Donoyan; Reverend Ardak Demirjian; Western Prelacy Executive Council Chairperson Garo Eshgian, Vice-Chair Meher DerOhannessian, and Secretary Elizabeth Boyajian; members of the Prelacy Board of Regents, Armineh Papazian, Pattyl Aposhian Kasparian, and Arlene Mouradian-Zenian; St. Mary’s Church Board Member Christine Hovnanian; representatives from the Armenian National Committee of American Glendale Chapter including Chairperson Lucy Petrosian; the Armenian Revolutionary Federation Glendale Aharonian chapter; Homenetmen Ararat Chapter Executive Board Chair, Serge Grakasian; a representative from the office of Congressman Adam Schiff; California State Senator Anthony Portantino; California Assemblymember Laura Friedman; a representative from the office of Los Angeles County Supervisor Kathryn Barger; Glendale City Council Member Vartan Gharpetian; Glendale City Clerk Ardashes Kassakhian; Glendale Community College Board of Trustee Dr. Armine Hacopian; Glendale Unified School District Board President Dr. Armina Gharpetian; the school’s founders, Mr. and Mrs. Vahik and Alice Petrossian, and Mr. and Dr. Vahe and Armine Hacopian; and of course the school’s beloved benefactors of 30 years, Ralph and Savey Tufenkian, and the Tufenkian and Kalemkiarian families.

Alumni from the school, currently in high school, greeted guests presenting them with special 45th anniversary lapel pins, and ushered them into the Oschin Pavilion where the Endeavor Space Shuttle is stationed. The awe-inspiring hangar space was adorned with large-scale architectural renderings of the prospective Tufenkian campus, as well as a partial architectural model painted by the school’s kindergarten students. A colorful art exhibition featuring framed watercolor paintings by every single one of the school’s current students, accompanied by titles chosen by the young artists, was on display for all to enjoy. Also entertaining guests were roaming photographers and a photo station featuring an astronaut carrying the Tufenkian flag, and live orchestral music. At their seats, guests received the thematic 45th Anniversary Tufenkian Album, courtesy of the artistry of Helena Grigorian, featuring a bronze keepsake bookmark, congratulatory messages to the school as well as personal salutations and memorable photos from all of the program’s donors.

Following opening remarks by the night’s Master of Ceremonies Gevik Baghdassarian, an alumnus of the school and current member of the School Board, and invocation by his Eminence Archbishop Moushegh Mardirossian, dinner was served while a vocalist performed jazz and Armenian standards.

Artin Shaverdian, Chair of the School Board, then introduced a film by Sevag Vrej Koundakjian, especially made to mark this milestone anniversary, highlighting the value of the school in the community and its students’ lives, the significance of the school’s emergent curriculum and its teachers and administration, as well as to describe the value of the modernization and expansion project.

Shaverdian then addressed the audience by first expressing his immense gratitude to the night’s donors, all guests, and the school’s longstanding benefactors Mr. and Mrs. Ralph and Savey Tufenkian. He also took a moment to acknowledge the unmatched dedication of the school’s faculty and staff most of whom were present.

“This campaign is rooted in history but framed for tomorrow,” he said. “It honors the vision of our founders and the promise of our children.” He appealed to the audience to continue to support the Tufenkian 2025 Project, a project which seeks to add approximately 3,200 square feet of new building area consisting of classrooms and multi-purpose rooms, and to modernize the remaining classrooms and outdoor areas to better align the school’s emergent curriculum with its campus. Mr. Shaverdian stressed that with the steadfast support of the community and the generous donors in attendance, the school was looking forward to meeting again in 2025 to mark the conclusion of the campaign, but to not forget that the “broader campaign for the idea of Tufenkian Preschool is everlasting.”

Shaverdian concluded his remarks by announcing the names and commending the great work of all those individuals who had volunteered endless hours to bring this gala celebration to fruition. He then introduced a video greeting from Congressman Adam Schiff who congratulated the school and lent support to its future successes. Official State of California proclamations were presented by State Senator Portantino and Assemblymember Laura Friedman both of whom also conveyed endearing messages of reverence for the academic institution. A special recognition was also presented by a representative from Supervisor Kathryn Barger’s office.

Baghdassarian then joined Shaverdian on stage to discuss specifics of the fundraising campaign for Tufenkian 2025. Baghdassarian implored the audience to continue on its generous path and offer long-term support to the project. Together, they launched the school’s Mobile Cause/text-to-give service which facilitates instant giving via a mobile smart phone. The excitement of the audience was palpable in the immediate stream of new donations all of which were reflected instantly on the big screen for all to see. Shaverdian and Baghdassarian then recognized three visionary donor families Mr. and Mrs. Armen and Katherine Panossian, Mr. and Mrs. Bobken and Hasmik Amirian, and Mr. and Mrs. Levik and Romina Hagobian.

The school’s Director, Arsine Aghazarian, then took the stage to acknowledge the Tufenkian family, all invited guests and dignitaries in attendance, expressing her gratitude to lifelong community supporters, alumni and parents of alumni of the school. She gave brief historical highlights from the school’s 45-year journey and called up to the stage, to receive special recognition and a gift, founding members of the school Mr. and Mrs. Vahik and Alice Petrossian, and Mr. and Dr. Vahe and Armine Hacopian, along with former school Director Dr. Ida Karayan. Rouben Gourjian, one of the founding members, was not in attendance. She thanked these valued members of the school’s family for their vision, their dedication and their continued guidance and support of the school. Gifts were presented to the aforementioned honorees by the three teachers with the longest tenure at the school Aghavni Astoor, Ani Misserlian, and Ani Hovagimian.

She continued to thank the school’s Parent Support Committee’s (PSC) Gala Committee, who under the effective leadership of Christine Zohrabians, worked resolutely to make this celebration memorable.

Aghazarian then individually acknowledged all current faculty and staff, and those who had significant roles at the school through the years. On behalf of the ANC Glendale Chapter, Chairperson Lucy Petrosian also presented recognition certificates to each teacher and staff member. Young alumni volunteers escorted those being recognized to receive commemorative gifts.

To conclude her remarks, Aghazarian shared heartwarming words about the entire Tufenkian family, specifically Mr. and Mrs. Ralph and Savey Tufenkian who have never faltered in their encouragement, support, and guidance of the school since the tragic death of their son Richard, 30 years ago. “We owe our success to our gracious and generous benefactors, Mr. and Mrs. Ralph and Savey Tufenkian, and to the extended members and relatives of the Tufenkian Family, Paul and Sandra Kalemkiarian, and Greg and Caroline Tufenkian,” Aghazarian said as she presented Mr. and Mrs. Tufenkian with gifts of appreciation.

The prelate referenced the poignancy of the project’s moniker “Building Together, Nurturing Generations.” He reflected on the significance of community support in the success of all of our diasporan endeavors and underscored the paramount value of structured early education. With much delight, the Archbishop then announced a surprise $100,000 donation from Mr. and Mrs. Ralph and Savey Tufenkian to mark this momentous occasion and in support of the Tufenkian 2025 Modernization and Expansion Project. The audience roared in excitement and the collective funds raised passed the half a million-dollar mark.

Accomplished alumna Sareen Habeshian then spoke of the positive influence of the school on her academic journey and professional career. And, to conclude the program, Max Tufenkian and Sara Cipolla, nephew and niece of the late Richard Tufenkian, both alumni of the school, paid a moving tribute to their uncle. Max described growing up with stories of his uncle with his family members always describing him as the most loving and lovable guy. Sara reminisced about her days at Tufenkian and announced her excitement at becoming a Tufenkian parent in the forthcoming academic year. Both shared their great pride in their family and their family’s immeasurable love for the school.

The evening came to a festive close by graciously donated performances by popular Armenian singers Armenchik and Super Sako. Guests parted with gifts of appreciation in the form of beautifully boxed wines donated by the Kalemkiarian family of Wine of the Month.

It is notable that this gala’s success was a direct result of the tireless work of PSC members who spared no effort to engage the community in solicitation of support for the school. “The generosity of our community’s business owners and service providers was truly heartwarming,” commented Zohrabians, “We received an overwhelming amount of in-kind donations, unimaginable discounts, and direct gifts of services and supplies. It truly helped us honor our fiduciary duty to the school. This is not just a reflection of the greatness of our school but also that of the kindness of our community.”

By the end of the evening, $535,000 was raised in support of the Tufenkian Modernization and Expansion Project. “Our community is a force to be reckoned with when it supports a worthwhile project. We are eternally grateful to every dollar donated today. We are doing all this for the kids. They are the center and goal of all of our efforts,” Baghdassarian stated.

To learn more about the Tufenkian Modernization and Expansion Project, and to participate in its success with your tax-deductible contribution, please visit Tufenkian2025.com. To learn more about the school, please visit TufenkianPreschool.com.