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Investment banking

Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, FICC services (fixed income instruments, currencies, and commodities) or research (macroeconomic, credit or equity research). Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket (upper tier), Middle Market (mid-level businesses), and boutique market (specialized businesses).

Unlike commercial banks and retail banks, investment banks do not take deposits. The revenue model of an investment bank comes mostly from the collection of fees for advising on a transaction, contrary to a commercial or retail bank. From the passage of Glass–Steagall Act in 1933 until its repeal in 1999 by the Gramm–Leach–Bliley Act, the United States maintained a separation between investment banking and commercial banks. Other industrialized countries, including G7 countries, have historically not maintained such a separation. As part of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd–Frank Act of 2010), the Volcker Rule asserts some institutional separation of investment banking services from commercial banking.

All investment banking activity is classed as either "sell side" or "buy side". The "sell side" involves trading securities for cash or for other securities (e.g. facilitating transactions, market-making), or the promotion of securities (e.g. underwriting, research, etc.). The "buy side" involves the provision of advice to institutions that buy investment services. Private equity funds, mutual funds, life insurance companies, unit trusts, and hedge funds are the most common types of buy-side entities.

An investment bank can also be split into private and public functions with a screen separating the two to prevent information from crossing. The private areas of the bank deal with private insider information that may not be publicly disclosed, while the public areas, such as stock analysis, deal with public information. An advisor who provides investment banking services in the United States must be a licensed broker-dealer and subject to U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulation.

Early history
The Dutch East India Company was the first company to issue bonds and shares of stock to the general public. It was also the first publicly traded company, being the first company to be listed on an official stock exchange.

Further developments
Investment banking has changed over the years, beginning as a partnership firm focused on underwriting security issuance, i.e. initial public offerings (IPOs) and secondary market offerings, brokerage, and mergers and acquisitions, and evolving into a "full-service" range including securities research, proprietary trading, and investment management. In the 21st century, the SEC filings of the major independent investment banks such as Goldman Sachs and Morgan Stanley reflect three product segments:
 * 1) investment banking (mergers and acquisitions, advisory services, and securities underwriting),
 * 2) asset management (sponsored investment funds), and
 * 3) trading and principal investments (broker-dealer activities, including proprietary trading ("dealer" transactions) and brokerage trading ("broker" transactions)).

In the United States, commercial banking and investment banking were separated by the Glass–Steagall Act, which was repealed in 1999. The repeal led to more "universal banks" offering an even greater range of services. Many large commercial banks have therefore developed investment banking divisions through acquisitions and hiring. Notable full-service investment banks with a significant investment banking division (IBD) include JPMorgan Chase, Bank of America, Citigroup, Deutsche Bank, UBS (Acquired Credit Suisse), and Barclays.

After the financial crisis of 2007–08 and the subsequent passage of the Dodd-Frank Act of 2010, regulations have limited certain investment banking operations, notably with the Volcker Rule's restrictions on proprietary trading.

The traditional service of underwriting security issues has declined as a percentage of revenue. As far back as 1960, 70% of Merrill Lynch's revenue was derived from transaction commissions while "traditional investment banking" services accounted for 5%. However, Merrill Lynch was a relatively "retail-focused" firm with a large brokerage network.

Core investment banking activities
Investment banking is split into front office, middle office, and back office activities. While large service investment banks offer all lines of business, both "sell side" and "buy side", smaller sell-side advisory firms such as boutique investment banks and small broker-dealers focus on niche segments within investment banking and sales/trading/research, respectively.

For example, Evercore (NYSE:EVR) acquired ISI International Strategy & Investment (ISI) in 2014 to expand their revenue into research-driven equity sales and trading.

Investment banks offer services to both corporations issuing securities and investors buying securities. For corporations, investment bankers offer information on when and how to place their securities on the open market, a highly regulated process by the SEC to ensure transparency is provided to investors. Therefore, investment bankers play a very important role in issuing new security offerings.

Front office
Front office is generally described as a revenue-generating role. There are two main areas within front office: investment banking and markets.
 * Investment banking involves advising organizations on mergers and acquisitions, as well as a wide array of capital raising strategies.
 * Markets is divided into "sales and trading" (including "structuring"), and "research".

Corporate finance
Corporate finance is the aspect of investment banks which involves helping customers raise funds in capital markets and giving advice on mergers and acquisitions (M&A); transactions in which capital is raised for the corporation include those listed aside. This work may involve, i.a., subscribing investors to a security issuance, coordinating with bidders, or negotiating with a merger target. A pitch book, also called a confidential information memorandum (CIM), is a document that highlights the relevant financial information, past transaction experience, and background of the deal team to market the bank to a potential M&A client; if the pitch is successful, the bank arranges the deal for the client.

Recent legal and regulatory developments in the U.S. will likely alter the makeup of the group of arrangers and financiers willing to arrange and provide financing for certain highly leveraged transactions.

Sales and trading
On behalf of the bank and its clients, a large investment bank's primary function is buying and selling products.

Sales is the term for the investment bank's sales force, whose primary job is to call on institutional and high-net-worth investors to suggest trading ideas (on a caveat emptor basis) and take orders. Sales desks then communicate their clients' orders to the appropriate trading rooms, which can price and execute trades, or structure new products that fit a specific need. Sales make deals tailored to their corporate customers' needs, that is, their terms are often specific. Focusing on their customer relationship, they may deal on the whole range of asset types. (In distinction, trades negotiated by market-makers usually bear standard terms; in market making, traders will buy and sell financial products with the goal of making money on each trade. See under trading desk.)

Structuring has been a relatively recent activity as derivatives have come into play, with highly technical and numerate employees working on creating complex structured products which typically offer much greater margins and returns than underlying cash securities, so-called "yield enhancement". In 2010, investment banks came under pressure as a result of selling complex derivatives contracts to local municipalities in Europe and the US.

Strategists advise external as well as internal clients on the strategies that can be adopted in various markets. Ranging from derivatives to specific industries, strategists place companies and industries in a quantitative framework with full consideration of the macroeconomic scene. This strategy often affects the way the firm will operate in the market, the direction it would like to take in terms of its proprietary and flow positions, the suggestions salespersons give to clients, as well as the way structurers create new products.

Banks also undertake risk through proprietary trading, performed by a special set of traders who do not interface with clients and through "principal risk"—risk undertaken by a trader after he buys or sells a product to a client and does not hedge his total exposure. Here, and in general, banks seek to maximize profitability for a given amount of risk on their balance sheet. Note here that the FRTB framework has underscored the distinction between the "Trading book" and the "Banking book" - i.e. assets intended for active trading, as opposed to assets expected to be held to maturity - and market risk capital requirements will differ accordingly.

The necessity for numerical ability in sales and trading has created jobs for physics, computer science, mathematics, and engineering PhDs who act as "front office" quantitative analysts.

Research
The securities research division reviews companies and writes reports about their prospects, often with "buy", "hold", or "sell" ratings. Investment banks typically have sell-side analysts which cover various industries. Their sponsored funds or proprietary trading offices will also have buy-side research. Research also covers credit risk, fixed income, macroeconomics, and quantitative analysis, all of which are used internally and externally to advise clients; alongside "Equity", these may be separate "groups". The research group(s) typically provide a key service in terms of advisory and strategy.

While the research division may or may not generate revenue (based on the specific compliance policies at different banks), its resources are used to assist traders in trading, the sales force in suggesting ideas to customers, and investment bankers by covering their clients. Research also serves outside clients with investment advice (such as institutional investors and high-net-worth individuals) in the hopes that these clients will execute suggested trade ideas through the sales and trading division of the bank, and thereby generate revenue for the firm.

With MiFID II requiring sell-side research teams in banks to charge for research, the business model for research is increasingly becoming revenue-generating. External rankings of researchers are becoming increasingly important, and banks have started the process of monetizing research publications, client interaction times, meetings with clients etc.

There is a potential conflict of interest between the investment bank and its analysis, in that published analysis can impact the performance of a security (in the secondary markets or an initial public offering) or influence the relationship between the banker and its corporate clients, and vice versa regarding material non-public information (MNPI), thereby affecting the bank's profitability. See also.

Middle office
This area of the bank includes treasury management, internal controls (such as Risk), and internal corporate strategy.

Corporate treasury is responsible for an investment bank's funding, capital structure management, and liquidity risk monitoring; it is (co)responsible for the bank's funds transfer pricing (FTP) framework.

Internal control tracks and analyzes the capital flows of the firm, the finance division is the principal adviser to senior management on essential areas such as controlling the firm's global risk exposure and the profitability and structure of the firm's various businesses via dedicated trading desk product control teams. In the United States and United Kingdom, a comptroller (or financial controller) is a senior position, often reporting to the chief financial officer.

Risk management
Risk management involves analyzing the market and credit risk that an investment bank or its clients take onto their balance sheet during transactions or trades.

Middle office "Credit Risk" focuses around capital markets activities, such as syndicated loans, bond issuance, restructuring, and leveraged finance. These are not considered "front office" as they tend not to be client-facing and rather 'control' banking functions from taking too much risk. "Market Risk" is the control function for the Markets' business and conducts review of sales and trading activities utilizing the VaR model. Other Middle office "Risk Groups" include country risk, operational risk, and counterparty risks which may or may not exist on a bank to bank basis.

Front office risk teams, on the other hand, engage in revenue-generating activities involving debt structuring, restructuring, syndicated loans, and securitization for clients such as corporates, governments, and hedge funds. Here "Credit Risk Solutions", are a key part of capital market transactions, involving debt structuring, exit financing, loan amendment, project finance, leveraged buy-outs, and sometimes portfolio hedging. The "Market Risk Team" provides services to investors via derivative solutions, portfolio management, portfolio consulting, and risk advisory.

Well-known "Risk Groups" are at JPMorgan Chase, Morgan Stanley, Goldman Sachs and Barclays. J.P. Morgan IB Risk works with investment banking to execute transactions and advise investors, although its Finance & Operation risk groups focus on middle office functions involving internal, non-revenue generating, operational risk controls. The credit default swap, for instance, is a famous credit risk hedging solution for clients invented by J.P. Morgan's Blythe Masters during the 1990s. The Loan Risk Solutions group within Barclays' investment banking division and Risk Management and Financing group housed in Goldman Sach's securities division are client-driven franchises.

Risk management groups such as credit risk, operational risk, internal risk control, and legal risk are restrained to internal business functions — including firm balance-sheet risk analysis and assigning the trading cap — that are independent of client needs, even though these groups may be responsible for deal approval that directly affects capital market activities. Similarly, the Internal corporate strategy group, tackling firm management and profit strategy, unlike corporate strategy groups that advise clients, is non-revenue regenerating yet a key functional role within investment banks.

This list is not a comprehensive summary of all middle-office functions within an investment bank, as specific desks within front and back offices may participate in internal functions.

Back office
The back office data-checks trades that have been conducted, ensuring that they are not wrong, and transacts the required transfers. Many banks have outsourced operations. It is, however, a critical part of the bank.

Technology
Every major investment bank has considerable amounts of in-house software, created by the technology team, who are also responsible for technical support. Technology has changed considerably in the last few years as more sales and trading desks are using electronic processing. Some trades are initiated by complex algorithms for hedging purposes.

Firms are responsible for compliance with local and foreign government regulations and internal regulations.

Other businesses

 * Global transaction banking is the division that provides cash management, securities services (including custody and securities lending etc.) to institutions. Prime brokerage with hedge funds has been an especially profitable business, as well as risky, as seen in the bank run with Bear Stearns in 2008.
 * Investment management is the professional management of various securities (stocks, bonds, etc.) and other assets (e.g., real estate), to meet specified investment goals for the benefit of investors. Investors may be institutions (insurance companies, pension funds, corporations etc.) or private investors (both directly via investment contracts and more commonly via investment funds e.g., mutual funds). The investment management division of an investment bank is generally divided into separate groups, often known as private wealth management and private client services.
 * Merchant banking can be called "very personal banking"; merchant banks offer capital in exchange for share ownership rather than loans, and offer advice on management and strategy. Merchant banking is also a name used to describe the private equity side of a firm. Current examples include Defoe Fournier & Cie. and JPMorgan Chase's One Equity Partners. The original J.P. Morgan & Co., Rothschilds, Barings and Warburgs were all merchant banks. At the present date, a LionTree, an independent investment and merchant bank originally became a "merchant bank" was the British English term for an investment bank.

Industry profile
The investment banking industry can be broken up into Bulge Bracket (upper tier), Middle Market (mid-level businesses), and boutique market (specialized businesses) categories. There are various trade associations throughout the world which represent the industry in lobbying, facilitate industry standards, and publish statistics. The International Council of Securities Associations (ICSA) is a global group of trade associations.

In the United States, the Securities Industry and Financial Markets Association (SIFMA) is likely the most significant; however, several of the large investment banks are members of the American Bankers Association Securities Association (ABASA), while small investment banks are members of the National Investment Banking Association (NIBA).

In Europe, the European Forum of Securities Associations was formed in 2007 by various European trade associations. Several European trade associations (principally the London Investment Banking Association and the European SIFMA affiliate) combined in November 2009 to form the Association for Financial Markets in Europe (AFME).

In the securities industry in China, the Securities Association of China is a self-regulatory organization whose members are largely investment banks.

Global size and revenue mix
Global investment banking revenue increased for the fifth year running in 2007, to a record US$84 billion, which was up 22% on the previous year and more than double the level in 2003. Subsequent to their exposure to United States sub-prime securities investments, many investment banks have experienced losses. As of late 2012, global revenues for investment banks were estimated at $240 billion, down about a third from 2009, as companies pursued less deals and traded less. Differences in total revenue are likely due to different ways of classifying investment banking revenue, such as subtracting proprietary trading revenue.

In terms of total revenue, SEC filings of the major independent investment banks in the United States show that investment banking (defined as M&A advisory services and security underwriting) made up only about 15–20% of total revenue for these banks from 1996 to 2006, with the majority of revenue (60+% in some years) brought in by "trading" which includes brokerage commissions and proprietary trading; the proprietary trading is estimated to provide a significant portion of this revenue.

The United States generated 46% of global revenue in 2009, down from 56% in 1999. Europe (with Middle East and Africa) generated about a third, while Asian countries generated the remaining 21%. The industry is heavily concentrated in a small number of major financial centers, including New York City, City of London, Frankfurt, Hong Kong, Singapore, and Tokyo. The majority of the world's largest Bulge Bracket investment banks and their investment managers are headquartered in New York and are also important participants in other financial centers. The city of London has historically served as a hub of European M&A activity, often facilitating the most capital movement and corporate restructuring in the area. Meanwhile, Asian cities are receiving a growing share of M&A activity.

According to estimates published by the International Financial Services London, for the decade prior to the financial crisis in 2008, M&A was a primary source of investment banking revenue, often accounting for 40% of such revenue, but dropped during and after the financial crisis. Equity underwriting revenue ranged from 30% to 38%, and fixed-income underwriting accounted for the remaining revenue.

Revenues have been affected by the introduction of new products with higher margins; however, these innovations are often copied quickly by competing banks, pushing down trading margins. For example, brokerages commissions for bond and equity trading is a commodity business, but structuring and trading derivatives have higher margins because each over-the-counter contract has to be uniquely structured and could involve complex pay-off and risk profiles. One growth area is private investment in public equity (PIPEs, otherwise known as Regulation D or Regulation S). Such transactions are privately negotiated between companies and accredited investors.

Banks also earned revenue by securitizing debt, particularly mortgage debt prior to the financial crisis. Investment banks have become concerned that lenders are securitizing in-house, driving the investment banks to pursue vertical integration by becoming lenders, which has been allowed in the United States since the repeal of the Glass–Steagall Act in 1999.

Top 10 banks
According to The Wall Street Journal, in terms of total M&A advisory fees for the whole of 2020, the top ten investment banks were as listed in the table below. Many of these firms belong either to the Bulge Bracket (upper tier), Middle Market (mid-level businesses), or are elite boutique investment banks (independent advisory investment banks). The above list is just a ranking of the advisory arm (M&A advisory, syndicated loans, equity capital markets, and debt capital markets) of each bank and does not include the generally much larger portion of revenues from sales & trading and asset management. Mergers and acquisitions and capital markets are also often covered by The Wall Street Journal and Bloomberg.

Financial crisis of 2007–2008
The financial crisis of 2007–2008 led to the collapse of several notable investment banks, such as the bankruptcy of Lehman Brothers (one of the largest investment banks in the world) and the hurried fire sale of Merrill Lynch and the much smaller Bear Stearns to much larger banks, which effectively rescued them from bankruptcy. The entire financial services industry, including numerous investment banks, was bailed out by government taxpayer funded loans through the Troubled Asset Relief Program (TARP). Surviving U.S. investment banks such as Goldman Sachs and Morgan Stanley converted to traditional bank holding companies to accept TARP relief. Similar situations have occurred across the globe with countries rescuing their banking industry. Initially, banks received part of a $700 billion TARP intended to stabilize the economy and thaw the frozen credit markets. Eventually, taxpayer assistance to banks reached nearly $13 trillion—most without much scrutiny— lending did not increase, and credit markets remained frozen.

The crisis led to questioning of the investment banking business model without the regulation imposed on it by Glass–Steagall. Once Robert Rubin, a former co-chairman of Goldman Sachs, became part of the Clinton administration and deregulated banks, the previous conservatism of underwriting established companies and seeking long-term gains was replaced by lower standards and short-term profit. Formerly, the guidelines said that in order to take a company public, it had to be in business for a minimum of five years and it had to show profitability for three consecutive years. After deregulation, those standards were gone, but small investors did not grasp the full impact of the change.

A number of former Goldman Sachs top executives, such as Henry Paulson and Ed Liddy, were in high-level positions in government and oversaw the controversial taxpayer-funded bank bailout. The TARP Oversight Report released by the Congressional Oversight Panel found that the bailout tended to encourage risky behavior and "corrupt[ed] the fundamental tenets of a market economy".

Under threat of a subpoena, Goldman Sachs revealed that it received $12.9 billion in taxpayer aid, $4.3 billion of which was then paid out to 32 entities, including many overseas banks, hedge funds, and pensions. The same year it received $10 billion in aid from the government, it also paid out multimillion-dollar bonuses; the total paid in bonuses was $4.82 billion. Similarly, Morgan Stanley received $10 billion in TARP funds and paid out $4.475 billion in bonuses.

Criticisms
The investment banking industry, including boutique investment banks, have come under criticism for a variety of reasons, including perceived conflicts of interest, overly large pay packages, cartel-like or oligopolistic behavior, taking both sides in transactions, and more. Investment banking has also been criticized for its opacity. However, the lack of transparency inherent to the investment banking industry is largely due to the necessity to abide by the non-disclosure agreement (NDA) signed with the client. The accidental leak of confidential client data can cause a bank to incur significant monetary losses.

Conflicts of interest
Conflicts of interest may arise between different parts of a bank, creating the potential for market manipulation, according to critics. Authorities that regulate investment banking, such as the Financial Conduct Authority (FCA) in the United Kingdom and the SEC in the United States, require that banks impose a "Chinese wall" to prevent communication between investment banking on one side and equity research and trading on the other. However, critics say such a barrier does not always exist in practice. Independent advisory firms that exclusively provide corporate finance advice argue that their advice is not conflicted, unlike bulge bracket banks.

Conflicts of interest often arise in relation to investment banks' equity research units, which have long been part of the industry. A common practice is for equity analysts to initiate coverage of a company to develop relationships that lead to highly profitable investment banking business. In the 1990s, many equity researchers allegedly traded positive stock ratings for investment banking business. Alternatively, companies may threaten to divert investment banking business to competitors unless their stock was rated favorably. Laws were passed to criminalize such acts, and increased pressure from regulators and a series of lawsuits, settlements, and prosecutions curbed this business to a large extent following the 2001 stock market tumble after the dot-com bubble.

Philip Augar, author of The Greed Merchants, said in an interview that, "You cannot simultaneously serve the interest of issuer clients and investing clients. And it’s not just underwriting and sales; investment banks run proprietary trading operations that are also making a profit out of these securities."

Many investment banks also own retail brokerages. During the 1990s, some retail brokerages sold consumers securities which did not meet their stated risk profile. This behavior may have led to investment banking business or even sales of surplus shares during a public offering to keep public perception of the stock favorable.

Since investment banks engage heavily in trading for their own account, there is always the temptation for them to engage in some form of front running—the illegal practice whereby a broker executes orders for their own account before filling orders previously submitted by their customers, thereby benefiting from any changes in prices induced by those orders.

Documents under seal in a decade-long lawsuit concerning eToys.com's IPO but obtained by New York Times' Wall Street Business columnist Joe Nocera alleged that IPOs managed by Goldman Sachs and other investment bankers involved asking for kickbacks from their institutional clients who made large profits flipping IPOs which Goldman had intentionally undervalued. Depositions in the lawsuit alleged that clients willingly complied with these demands because they understood it was necessary to participate in future hot issues. Reuters Wall Street correspondent Felix Salmon retracted his earlier, more conciliatory statements on the subject and said he believed that the depositions show that companies going public and their initial consumer stockholders are both defrauded by this practice, which may be widespread throughout the IPO finance industry. The case is ongoing, and the allegations remain unproven.

Nevertheless, the controversy around investment banks intentionally underpricing IPOs for their self-interest has become a highly debated subject. The cause for concern is that the investment banks advising on the IPOs have the incentive to serve institutional investors on the buy-side, creating a valid reason for a potential conflict of interest.

The post-IPO spike in the stock price of newly listed companies has only worsened the problem, with one of the leading critics being high-profile venture capital (VC) investor, Bill Gurley.

Compensation
Investment banking has been criticized for the enormous pay packages awarded to those who work in the industry. According to Bloomberg Wall Street's five biggest firms paid over $3 billion to their executives from 2003 to 2008, "while they presided over the packaging and sale of loans that helped bring down the investment-banking system".

In 2003-2007, pay packages included $172 million for Merrill Lynch CEO Stanley O'Neal  before the bank was bought by Bank of America, and $161 million for Bear Stearns' James Cayne before the bank collapsed and was sold to JPMorgan Chase. Such pay arrangements attracted the ire of Democrats and Republicans in the United States Congress, who demanded limits on executive pay in 2008 when the U.S. government was bailing out the industry with a $700 billion financial rescue package.

Writing in the Global Association of Risk Professionals journal, Aaron Brown, a vice president at Morgan Stanley, says "By any standard of human fairness, of course, investment bankers make obscene amounts of money."

title: Investment banking


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Postal card

Postal cards are postal stationery with an imprinted stamp or indicium signifying the prepayment of postage. They are sold by postal authorities. On January 26, 1869, Dr. Emanuel Herrmann of Austria described the advantages of a Correspondenz Karte. By October 1, 1869 the world's first postal card was produced by Austria-Hungary. They caught on quickly. By the end of 1870, Great Britain, Finland, Switzerland and Württemberg joined the countries issuing postal cards. In the United States, they were first produced in 1873. Some of the forms taken by postal cards include the regular single card which may be commemorative or definitive, attached message-reply cards, airmail postal cards, and official postal cards used for official government business with a "penalty for private use".

To the post office, there were positive advantages to postal cards as opposed to correspondence in envelopes. The cards were lighter and less bulky than letters and they were all the same size. The result was that they occupied less than one third of the space required by the same number of letters. To the public there were also advantages. They were simple and cheap making them an instant success. Britain had a half-penny rate to begin with. The U.S. "penny postcard" rate lasted through 1951.

Presumably for the purpose of getting a prompt reply, a sender was given the opportunity to pay for postage both ways with an attached message-reply card, first introduced by Germany in 1873. Other European countries quickly followed suit. Spain furnished message-reply cards to her Colonies: Cuba (1880), Philippines (1889) and Puerto Rico (1898). The U.S. issued them first in 1892. Message-reply cards were attached tête-bêche and likely to be perforated or rouletted to facilitate separation once in the hands of the recipient. The recipient could then tear them apart and use the prepaid reply card to correspond with the original sender. Normally the message card would be identical to the reply card except with the distinction of having additional language such as "WITH REPLY CARD" or "La otra tarjeta es para la respuesta" or "Carte Postale Réponse" or similar words to distinguish the two. In the U.S., message and reply cards have been identical since 1968.

The term postal card is clearly differentiated from the term postcard which is a term to designate cards prepared by private companies and which do not have prepaid franking. They are readily available at commercial outlets. The addition of an adhesive stamp is required to mail them. They are frequently illustrated with pictures or printed advertisements. They are not considered postal stationery any more than a plain envelope or sheet of parcel wrapping are.

license: Creative Commons - Attribution Share-Alike - https://creativecommons.org/licenses/by-sa/4.0/

title: Postal card


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Chabad

Chabad, also known as Lubavitch, Habad and Chabad-Lubavitch (חב״ד לובביץּ׳; חב״ד ליובאוויטש), is an Orthodox Jewish Hasidic dynasty. Chabad is one of the world's best-known Hasidic movements. It is one of the largest Hasidic groups as well as one of the largest Jewish religious organizations in the world. Unlike most Haredi groups, which are self-segregating, Chabad mainly operates in the wider world and it caters to secularized Jews.

Founded in 1775 by Rabbi Shneur Zalman of Liadi, the name "Chabad" (חב״ד) is an acronym formed from three Hebrew words—Chokmah, Binah, Da'at, the first three sefirot of the kabbalistic Tree of Life: חכמה, בינה, דעת, "Wisdom, Understanding, and Knowledge"—which represent the intellectual and kabbalistic underpinnings of the movement. The name Lubavitch derives from the town in which the now-dominant line of leaders resided from 1813 to 1915. Other, non-Lubavitch scions of Chabad either disappeared or merged into the Lubavitch line. In the 1930s, the sixth Rebbe of Chabad, Rabbi Yosef Yitzchak Schneersohn, moved the center of the Chabad movement from Russia to Poland. After the outbreak of World War II, he moved the center of the movement to the United States.

Between 1951 and 1994, Rabbi Menachem Mendel Schneerson transformed the movement into one of the most widespread Jewish movements in the world. Under his leadership, Chabad established a large network of institutions that seek to satisfy the religious, social and humanitarian needs of Jews across the world. Chabad institutions provide outreach to unaffiliated Jews and humanitarian aid, as well as religious, cultural and educational activities. During his life and after his death, Schneerson has been believed by some of his followers to be the Messiah, with his own position on the matter debated among scholars. Messianic ideology in Chabad sparked controversy in various Jewish communities and it is still an unresolved matter. Following his death, no successor was appointed as a new central leader.

The global population of Chabad has been estimated to be 90,000–95,000 adherents, accounting for 13% of the global Hasidic population. However, up to one million Jews are estimated to attend Chabad services at least once a year. In a 2020 study, the Pew Research Center found that 16% of American Jews participated in Chabad services or activities at least semi-regularly.

History
The Chabad movement was established after the First Partition of Poland in the town of Liozno, Pskov Governorate, Russian Empire (now Liozna, Belarus), in 1775, by Shneur Zalman, a student of Dov Ber of Mezeritch, the successor to Hasidism's founder, Rabbi Israel Baal Shem Tov. Rabbi Dovber Shneuri, the Second Rebbe, moved the movement to Lyubavichi (Lubavitch), in current-day Russia, in 1813.

The movement was centered in Lyubavichi for a century until the fifth Rebbe, Rabbi Shalom Dovber left the village in 1915 and moved to the city of Rostov-on-Don. During the interwar period, following Bolshevik persecution, the Chabad-Lubavitch movement, under the Sixth Rebbe, Rabbi Yosef Yitzchak, was centered in Riga and then in Warsaw. The outbreak of World War II led the Sixth Rebbe to move to the United States. Since 1940, the movement's center has been in the Crown Heights neighborhood of Brooklyn.

While the movement spawned a number of offshoot groups throughout its history, the Chabad-Lubavitch branch is the only one still active, making it the movement's main surviving line. Historian Jonathan Sarna has characterized Chabad as having enjoyed the fastest rate of growth of any Jewish religious movement in the period 1946–2015.

In the early 1900s, Chabad-Lubavitch legally incorporated itself under Agudas Chasidei Chabad ("Association of Chabad Hasidim").

In the 1980s, tensions arose between Chabad and Satmar Chasidim as a result of several assaults on Chabad Hasidim by Satmar Hasidim.

Oppression and resurgence in Russia
The Chabad movement was subjected to governmental oppression in Russia. The Russian government, first under the Czar, later under the Bolsheviks, imprisoned all but one of the Chabad rebbes. The Bolsheviks also imprisoned, exiled and executed a number of Chabad Hasidim. During the Second World War, many Chabad Hasidim evacuated to the Uzbek cities of Samarkand and Tashkent where they established small centers of Hasidic life, while at the same time seeking ways to emigrate from Soviet Russia due to the government's suppression of religious life. The reach of Chabad in Central Asia also included earlier efforts that took place in the 1920s. Following the war, and well after the center of the Chabad movement moved to the United States, the movement remained active in Soviet Russia, aiding the local Jews known as Refuseniks who sought to learn more about Judaism. And throughout the Soviet era, the Chabad movement maintained a secret network across the USSR. Since the dissolution of the Soviet Union in 1991, state persecution of Chabad ceased. The Chief Rabbi of Russia, Berel Lazar, a Chabad emissary, maintains warm relations with Russian President Vladimir Putin. Lazar also received the Order of Friendship and Order "For Merit to the Fatherland" medals from him.

Leadership

The Chabad movement has been led by a succession of Hasidic rebbes. The main branch of the movement, Chabad-Lubavitch, has had seven rebbes:

 * Rabbi Shneur Zalman of Liadi (1745–1812), founded the Chabad movement in the town of Liozna. The Chabad movement began as a separate school of thought within the Hasidic movement, focusing of the spread of Hasidic mystical teachings using logical reasoning (creating a kind of Jewish "rational-mysticism"). Shneur Zalman's main work is the Tanya (or, "Book of the Average Man"). The Tanya is the central book of Chabad thought and is studied daily by followers of the Chabad movement. Shneur Zalman's other works include a collection of writings on Hasidic thought, and the , a revised version of the code of Halakha, both of which are studied regularly by followers of Chabad. Shneur Zalman's successors went by last names such as "Schneuri" and "Schneersohn" (later "Schneerson"), signifying their descent from the movement's founder. He is commonly referred to as the "Old Rebbe" (אַלטער רבי or אדמו״ר הזקן).
 * Rabbi Dovber Schneuri (1773–1827), son of Rabbi Shneur Zalman, led the Chabad movement in the town of Lyubavichi (Lubavitch). His leadership was initially disputed by Rabbi Aaron Halevi of Stroselye, however, Rabbi Dovber was generally recognized as his father's rightful successor, and the movement's leader. Rabbi Dovber published a number of his writings on Hasidic thought, greatly expanding his father's work. He also published some of his father's writings. Many of Rabbi Dovber's works have been subsequently republished by the Chabad movement. He is commonly referred to as the (מיטעלער רבי 'Middle Rabbi', אדמו״ר האמצעי).
 * Rabbi Menachem Mendel Schneersohn (1789–1866), a grandson of Rabbi Shneur Zalman and son-in-law of Rabbi Dovber. Following his attempt to persuade the Chabad movement to accept his brother-in-law or uncle as rebbe, Rabbi Menachem Mendel assumed the title of rebbe of Chabad, also leading the movement from the town of Lyubavichi (Lubavitch). He published a number of his works on both Hasidic thought and Jewish law. Rabbi Menachem Mendel also published some of the works of his grandfather, Rabbi Shneur Zalman. He is commonly referred to as the after the title of his responsa.
 * Rabbi Shmuel Schneersohn (1834–1882), was the seventh and youngest son of Rabbi Menachem Mendel. He assumed the title of rebbe in town of Lyubavichi (Lubavitch), while several of his brothers assumed the title of rebbe in other towns, forming Chabad groups of their own which existed for several decades. Years after his death, his teachings were published by the Chabad movement. He is commonly referred to as the, an acronym for ('our teacher, Rabbi Shmuel').
 * Rabbi Shalom Dovber Schneersohn (1860–1920), Shmuel's second son, succeeded his father as rebbe. Rabbi Shalom Dovber waited some time before officially accepting the title of rebbe, as not to offend his elder brother, Zalman Aaron. He established a yeshiva called Tomchei Temimim. During World War I, he moved to Rostov-on-Don. Many of his writings were published after his death, and are studied regularly in Chabad yeshivas. He is commonly referred to as the, an acronym for.
 * Rabbi Yosef Yitzchak Schneersohn (1880–1950), the only son of Sholom Dovber, succeeded his father as rebbe of Chabad. Rabbi Yosef Yitzchak was exiled from Russia, following an attempt by the Bolshevik government to have him executed. He led the movement from Warsaw, Poland, until the start of World War II. After fleeing the Nazis, Rabbi Yosef Yitzchak lived in Brooklyn, New York until his death. He established much of Chabad's current organizational structure, founding several of its central organizations as well as other Chabad institutions, both local and international. He published a number of his writings, as well as the works of his predecessors. He is commonly referred to as the or the  ('Previous Rebbe').
 * Rabbi Menachem Mendel Schneerson (1902–1994), son-in-law of Rabbi Yosef Yitzchak, and a great-grandson of the third Rebbe of Lubavitch, assumed the title of rebbe one year after his father-in-law's death. Rabbi Menachem Mendel greatly expanded Chabad's global network, establishing hundreds of new Chabad centers across the globe. He published many of his own works as well as the works of his predecessors. His teachings are studied regularly by followers of Chabad. He is commonly referred to as "the Lubavitcher Rebbe", or simply "the Rebbe". Even after his death, many continue to revere him as the leader of the Chabad movement.

Influence
Chabad's influence among world Jewry has been far-reaching since World War II. Chabad pioneered the post-World War II Jewish outreach movement, which spread Judaism to many assimilated Jews worldwide, leading to a substantial number of ("returnees" to Judaism). The very first Yeshiva/Rabbinical College for such baalei teshuva, Hadar Hatorah, was established by the Lubavitcher rebbe. It is reported that up to a million Jews attend Chabad services at least once a year.

According to Steven I. Weiss, Chabad's ideology has dramatically influenced non-Hasidic Jews' outreach practices. Because of its outreach to all Jews, including those Jews who are quite alienated from religious Jewish traditions, Chabad has been described as the one Orthodox group which evokes great affection from large segments of American Jewry.

Philosophy
Chabad Hasidic philosophy focuses on religious and spiritual concepts such as God, the soul, and the meaning of the Jewish commandments. Classical Judaic writings and Jewish mysticism, especially the Zohar and the Kabbalah of Rabbi Isaac Luria, are frequently cited in Chabad works. These texts are used both as sources of Chabad teachings and as material requiring interpretation by Chabad authors. Many of these teachings discuss what is commonly referred to as bringing "heaven down to earth", i.e. making the Earth a dwelling place for God. Chabad philosophy is rooted in the teachings of Rabbis Yisroel ben Eliezer, (the Baal Shem Tov, founder of Hasidism) and Dovber ben Avraham, the "Maggid of Mezritch" (Rabbi Yisroel's successor).

Rabbi Shneur Zalman's teachings, particularly in the, formed the basis of Chabad philosophy, as expanded by succeeding generations. Many Chabad activities today are understood as applications of Shneur Zalman's teachings.

The (תניא) is a book by Rabbi Shneur Zalman first published in 1797. It is the first schematic treatment of Hasidic moral philosophy and its metaphysical foundations.

According to the, the intellect consists of three interconnected processes: (wisdom),  (understanding), and  (knowledge). While other branches of Hasidism primarily focused on the idea that "God desires the heart," Shneur Zalman argued that God also desires the mind, and he also argued that the mind is the "gateway" to the heart. With the Chabad philosophy, he elevated the mind above the heart, arguing that "understanding is the mother of fear and love for God".

The has five sections. The original name of the first section is, the "Book of the Intermediates". It is also known as ("Collected Sayings"). analyzes the inner struggle of the individual and the path to resolution. Citing the biblical verse "the matter is very near to you, in your mouth, your heart, to do", the philosophy is based on the notion that the human is not inherently evil; rather, every individual has an inner conflict that is characterized by two different inclinations, the good and the bad.

Chabad often contrasted itself with what is termed the schools of Hasidism. While all schools of Hasidism put a central focus on the emotions, saw emotions as a reaction to physical stimuli, such as dancing, singing, or beauty. Shneur Zalman, on the other hand, taught that the emotions must be led by the mind, and thus the focus of Chabad thought was to be Torah study and prayer rather than esotericism and song. As a Talmudist, Shneur Zalman endeavored to place Kabbalah and Hasidism on a rational basis. In, he defines his approach as (Hebrew: מוח שליט על הלב, "the brain ruling the heart").

Community

An adherent of Chabad is called a (or ) (חסיד חב"ד), a Lubavitcher (ליובאַוויטשער), a  (חבדניק), or a  (חבדסקער). Chabad's adherents include both Hasidic followers, as well as non-Hasidim, who have joined Chabad synagogues and other Chabad-run institutions.

Although the Chabad movement was founded and originally based in Eastern Europe, various Chabad communities span the globe, including Crown Heights, Brooklyn, and Kfar Chabad, Israel. The movement has attracted a significant number of Sephardic adherents in the past several decades, and some Chabad communities include both Ashkenazi and Sephardic Jews. For example, in Montreal, close to 25% of Chabad households include a Sephardi parent.

According to sociologists studying contemporary Jewry, the Chabad movement fits into neither the standard category of Haredi nor that of modern Orthodox among Orthodox Jews. This is due in part to the existence of the number of Chabad supporters and affiliates who are not Orthodox (dubbed by some scholars as "non-Orthodox Hasidim"), the general lack of official recognition of political and religious distinctions within Judaism, and the open relationship with non-Orthodox Jews represented by the activism of Chabad emissaries.

Population
In 2018, Marcin Wodziński conducted the first global estimate of worldwide Hasidism in the Historical Atlas of Hasidism. Using Chabad community directories, Wodziński estimated that Chabad included 16,000–17,000 households, or 90,000–95,000 individuals, representing 13% of the total Hasidic population and ranking Chabad as the second-largest Hasidic community behind the Satmar community.

United States

Estimates for Chabad and other Hasidic groups are often based on extrapolation from the limited information available in US census data for some of the areas where Hasidim live. A 2006 estimate was drawn from a study on the Montreal Chabad community (determining average household size), in conjunction with language and other select indicators from US census data, it is estimated that Chabad in the United States includes approximately 4,000 households, which contains between 22,000 and 25,000 people. In terms of Chabad's relation to other Hasidic groups, within the New York metropolitan area, Chabad in the New York area accounts for around 15% of the total New York Hasidic population. Chabad is estimated to have an annual growth of 3.6%:

 * Crown Heights – The Crown Heights Chabad community's estimated size is 10,000 to 12,000 or 12,000 to 16,000. In 2006, extrapolating based on census data, it was estimated that the Chabad community in Crown Heights make up some 11,000. It was estimated that between 25% and 35% of Chabad Hasidim in Crown Heights speak Yiddish. This figure is significantly lower than other Hasidic groups and may be attributed to the addition of previously non-Hasidic Jews to the community. It was also estimated that over 20% of Chabad Hasidim in Crown Heights speak Hebrew or Russian. The Crown Heights Chabad community has its own Beis Din (rabbinical court) and Crown Heights Jewish Community Council (CHJCC).
 * Chabad hipsters – Beginning from the late 2000s through the 2010s, a minor trend of cross acculturation of Chabad Hasidim and contemporary hipster subculture appeared within the New York City Jewish community. According to The Jewish Daily Forward, a significant number of members of the Chabad Hasidic community, mostly residing in Crown Heights, Brooklyn, appear to now have adopted various cultural affinities of the local hipster subculture. These members are referred to as Chabad hipsters or Hipster Hasidim.

Israel

 * Kfar Chabad – Kfar Chabad's estimated size is 5,100; all of the residents of the town are believed to be Chabad adherents. This estimate is based on figures which were published by the Israeli Census Bureau. Other estimates place the community population at around 7,000.
 * Safed – The Chabad community in Safad (Tzfat) originated during the wave of Eastern European immigration to Palestine from 1777–1840. The Chabad community established synagogues and institutions in Safad. The early settlement declined by the 20th century but it was renewed following an initiative by the seventh rebbe in the early 1970s, which reestablished the Chabad community in the city. Rabbi Yeshaya HaLevi Horowitz (1883–1978), a Safad-born direct descendant of Rabbi Yeshaya Horowitz, author of the, served as the rabbi of the Chabad community in Safad from 1908 until his immigration to the U.S. during World War I. Members of the Chabad community run a number of outreach efforts during the Jewish holidays. Activities include blowing the for the elderly on Rosh Hashana, reading the Megilla for hospital patients on Purim and setting up a  on the town's main street during the  holiday.

France
The Chabad community in France is estimated to be between 10,000 and 15,000. The majority of the Chabad community in France are the descendants of immigrants from North Africa (specifically Algeria, Morocco and Tunisia) during the 1960s.

Canada

 * Montreal – The estimated size of the Chabad community of Greater Montreal is 1,590. The estimate is taken from a 2003 community study. The Chabad community in Montreal originated sometime before 1931. While early works on Canadian Jewry make little or no mention of early Hasidic life in Canada, later researchers have documented Chabad's accounts in Canada starting from the 1900s and 1910s. Steven Lapidus notes that there is mention of two Chabad congregations in a 1915 article in the Canadian Jewish Chronicle listing the delegates of the first Canadian Jewish Conference. One congregation is listed as Chabad of Toronto, and the other is simply listed as "Libavitzer Congregation". The sociologist William Shaffir has noted that some Chabad Hasidim and sympathizers did reside in Montreal before 1941 but does not elaborate further. Steven Lapidus notes that in a 1931 obituary published in, a Canadian Yiddish newspaper, the deceased Rabbi Menashe Lavut is credited as the founder of Anshei Chabad in Montreal and the Nusach Ari synagogue. Thus the Chabad presence in Montreal predates 1931.

United Arab Emirates

 * Dubai – The Jewish Community Center of UAE has a synagogue and a Talmud Torah. 1,000 kosher chickens per week are provided to the community by local kosher . The community is headed by community president Solly Wolf and Rabbi Levi Duchman.

Customs
Chabad adherents follow Chabad traditions and prayer services based on Lurianic Kabbalah. General Chabad customs, called minhagim (or minhagei Chabad), distinguish the movement from other Hasidic groups. Some of the main Chabad customs are minor practices performed on traditional Jewish holidays:

 * Passover – It is customary in Chabad communities, on Passover, to limit contact of matzah (an unleavened bread eaten on Passover) with water. This custom is called gebrokts (געבראָכטס, lit. 'broken'). However, on the last day of Passover, it is customary to intentionally have matzah come in contact with water.
 * Chanukah – It is the custom of Chabad Hasidim to place the Chanukah menorah against the room's doorpost (and not on the windowsill).
 * Prayer – The founder of Chabad wrote a very specific liturgy for the daily and festival prayers based on the teachings of the Kabbalists, primarily the Arizal.
 * The founder of Chabad also instituted various other halachic rulings, including the use of stainless steel knives for the slaughter of animals before human consumption, which are now universally accepted in all sects of Judaism.

Holidays
There are a number of days marked by the Chabad movement as special days. Major holidays include the dates of the release of the leaders of the movement, the rebbes of Chabad, from prison, others corresponded to the leaders' birthdays, anniversaries of death, and other life events.

The days marking the leaders' release, are celebrated by the Chabad movement as "Days of Liberation" (Hebrew: יום גאולה (Yom Geulah)). The most noted day is Yud Tes Kislev—the liberation of Rabbi Shneur Zalman of Liadi, the founder of the Chabad movement. The day is also called the "New Year of Hasidism".

The birthdays of several of the movement's leaders are celebrated each year including Chai Elul, the birthday of Rabbi Shneur Zalman of Liadi, the founder of the Chabad movement, and Yud Aleph Nissan, the birthday of Rabbi Menachem Mendel Schneerson, the seventh rebbe of Chabad.

The anniversaries of death, or yartzeit, of several of the movement's leaders are celebrated each year, include Yud Shvat, the yartzeit of Rabbi Yosef Yitzchak Schneersohn, the sixth rebbe of Chabad, Gimmel Tammuz, the yartzeit of Rabbi Menachem Mendel Schneerson, the seventh rebbe of Chabad, and Chof Beis Shvat, the yartzeit of Chaya Mushka Schneerson, the wife of Rabbi Menachem Mendel Schneerson.

Organizations
Chabad's central organization representing the movement at large, Agudas Chasidei Chabad, is headed by Rabbi Abraham Shemtov. The educational, outreach and social services arms, Merkos L'Inyonei Chinuch and Machneh Israel are headed by Rabbi Yehuda Krinsky, as well as the Chabad-Lubavitch publishing house, Kehot Publication Society.

Local Chabad centers and institutions are usually incorporated as separate legal entities.

Institutions
As of 2020 there were over 3,500 Chabad centers in 100 countries. The Chabad movement's online directory lists around 1,350 Chabad institutions. This number includes schools and other Chabad-affiliated establishments. The number of Chabad centers vary per country; the majority are in the United States and Israel. There are over 100 countries with a small Chabad presence.

In total, according to its directory, Chabad maintains a presence in 950 cities around the world: 178 in Europe, 14 in Africa, 200 in Israel, 400 in North America, 38 in South America, and about 70 in Asia (excluding Israel, including Russia).

By geographic region

Chabad presence varies from region to region. The continent with the highest concentration of Chabad centers is North America. The continent with the fewest centers is Africa.

Chabad house
A Chabad house is a form of Jewish community center, primarily serving both educational and observance purposes. Often, until the community can support its own center, the Chabad house is located in the shaliach 's home, with the living room being used as the "synagogue". Effort is made to provide an atmosphere in which the nonobservant will not feel intimidated by any perceived contrast between their lack of knowledge of Jewish practice and the advanced knowledge of some of the people they meet there. The term "Chabad House" originated with the creation of the first such outreach center on the campus of UCLA by Rabbi Shlomo Cunin. A key to the Chabad house was given to the Rebbe and he asked if that meant that the new house was his home. He was told yes and he replied, "My hand will be on the door of this house to keep it open twenty-four hours a day for young and old, men and women alike."

Followers of Chabad can be seen attending to tefillin booths at the Western Wall and Ben Gurion International Airport as well as other public places and distributing Shabbat candles on Fridays. Chabad rabbis and their families are sent to various major cities around the globe, to teach college students, build day schools, and create youth camps. Many of these efforts are geared towards secular or less religious Jews. Additionally, unmarried rabbinical students spend weeks during the summer in locations that do not yet have a permanent Chabad presence, making housecalls, putting up mezuzot and teaching about Judaism. This is known as Merkos Shlichus.

Rabbi Menachem Mendel Schneerson also initiated a Jewish children's movement, called Tzivos Hashem (lit. "Army [of] God"), for under bar/bat mitzvah-age children, to inspire them to increase in study of Torah and observance of mitzvot.

Rabbi Schneerson also encouraged the use of modern technology in outreach efforts such as Mitzva tanks, which are mobile homes that travel a city or country. The Chabad website, chabad.org, a pioneer of Jewish religious outreach on the Internet, was started by Rabbi Yosef Y. Kazen and developed by Rabbi D. Zirkind.

In June 1994, Rabbi Schneerson died with no successor. Since then, over two thousand couples have taken up communal leadership roles in outreach, bringing the estimated total number of "Shluchim" to over five thousand worldwide.

In the 2008 Mumbai attacks, the local Chabad house was targeted. The local Chabad emissaries, Rabbi Gavriel Holtzberg and his wife Rivka, and four other Jews were tortured and murdered by Islamic terrorists. Chabad received condolences from around the world.

Fundraising
Funds for activities of a Chabad center rely entirely on the local community. Chabad centers do not receive funding from Lubavitch headquarters. For the day-to-day operations, local emissaries do all the fundraising by themselves.

Chabad emissaries often solicit the support of local Jews. Funds are used toward purchasing or renovating Chabad centers, synagogues and mikvahs.

Activities
The Chabad movement has been involved in numerous activities in contemporary Jewish life. These activities include providing Jewish education to different age groups, outreach to non-affiliated Jews, publishing Jewish literature, and summer camps for children, among other activities.

Education
Chabad runs a number of educational institutions. Most are Jewish day schools; others offer secondary and adult education:

 * Day schools – In the United States, there are close to 300 day schools and supplementary schools run by Chabad. The report findings of studies on Jewish day schools and supplementary Jewish education in the United States show that the student body currently enrolled in some 295 Chabad schools exceeds 20,750, although this figure includes Chabad Hasidic children as well as non-Chabad children.
 * Secondary schools – Chabad runs multiple secondary education institutions, most notable are Tomchei Tmimim for young men, and Bais Rivka for young women.
 * Adult education – Chabad runs adult education programs including those organized by the Rohr Jewish Learning Institute and the Jewish Learning Network.

Outreach activities
Many of the movement's activities emphasize outreach activities. This is due to Rabbi Menachem Mendel Schneerson encouraging his followers to reach out to other Jews. Chabad outreach includes activities promoting the practice of Jewish commandments (Mitzvah campaigns), as well as other forms of Jewish outreach. Much of Chabad's outreach is performed by Chabad emissaries (see Shaliach (Chabad)). Most of the communities that Chabad emissaries reach out to are other Jewish communities, such as Reform Jews.

Rabbi Yosef Yitzchok Schneersohn, 6th leader of the Chabad-Lubavitch branch of Hasidic Judaism, and then his successor, Rabbi Menachem Mendel Schneerson were responsible for focusing Chabad's activities on outreach. Rabbi Schneerson was a pioneer in the field of Orthodox Judaism outreach (Kiruv).

Each sent out large numbers of rabbinic emissaries, known as "Shluchim", to settle in places across the world for outreach purposes. The centers that these Shluchim established were termed "Chabad houses".

Chabad has been active in reaching out to Jews through its synagogues, and various forms of more direct outreach efforts. The organization has been recognized as one of the leaders in using free holiday services to reach out across denominations.

Rabbi Yosef Yitzchok Schneersohn, had a core of dedicated Hasidim who maintained underground yeshivos and mikvehs, and provided shechitah and ritual circumcision services in the Soviet Union.

Mitzvah campaigns
The Rebbes of Chabad have issued the call to all Jews to attract non-observant Jews to adopt Orthodox Jewish observance, teaching that this activity is part of the process of bringing the Messiah. Rabbi Menachem Mendel Schneerson issued a call to every Jew: "Even if you are not fully committed to a Torah life, do something. Begin with a mitzvah—any mitzvah—its value will not be diminished by the fact that there are others that you are not prepared to do".

Schneerson also suggested ten specific mitzvot that he believed were ideally suited for the emissaries to introduce to non-observant Jews. These were called mivtzoim—meaning "campaigns" or "endeavors". These were lighting candles before Shabbat and the Jewish holidays by Jewish women, putting on tefillin, affixing a mezuzah, regular Torah study, giving tzedakah, purchasing Jewish books, observing kashrut (kosher), kindness to others, Jewish religious education, and observing the family purity laws.

In addition, Schneerson emphasized spreading awareness of preparing for and the coming of the moshiach, consistent with his philosophy. He wrote on the responsibility to reach out to teach every fellow Jew with love, and implored that all Jews believe in the imminent coming of the moshiach as explained by Maimonides. He argued that redemption was predicated on Jews doing good deeds, and that gentiles should be educated about the Noahide Laws.

Schneerson was emphatic about the need to encourage and provide strong education for every child, Jew and non-Jew alike. In honor of Schneerson's efforts in education the United States Congress has made Education and Sharing Day on the Rebbe's Hebrew birthday (11 Nissan).

Shluchim (Emissaries)
In 1950, Rabbi Menachem Mendel Schneerson urged Chabad to begin shlichus ("serving as an emissary [performing outreach]"). Since then, Chabad shluchim ("emissaries", sing. shliach) have moved all over the world to encourage non-observant Jews to adopt Jewish observance. They assist Jews with all their religious needs, as well as with physical assistance and spiritual guidance and teaching. The stated goal is to encourage Jews to learn more about their Jewish heritage and to practice Judaism.

Thousands of rabbis, educators, ritual slaughterers, and ritual circumcisers have been trained and ordained to serve as shluchim. Typically, a young Lubavitch rabbi and his wife, in their early twenties, with one or two children, will move to a new location, and as they settle in will raise a large family who, as a family unit, will aim to fulfill their mandate of bringing Jewish people closer to Orthodox Judaism and encouraging gentiles to adhere to the Seven Laws of Noah.

Shluchim operate Chabad Houses, Jewish day schools, and Jewish summer camps. As of 2021, there are over 6,500 Chabad shluchim families worldwide, operating over 3,500 institutions in over 110 countries. Chabad runs the largest network of synagogues of any Jewish movement as of 2023.

Mitzvah tank
A mitzvah tank is a vehicle which is used as a portable "educational and outreach center" and a "mini-synagogue" (or a "minagogue") by Chabad members who are involved in outreach. Mitzvah tanks are commonly used for advancing the mitzvah campaigns. Mitzvah tanks have been commonplace on the streets of New York City since 1974. Today, they are used all over the globe in countries where Chabad is active.

Campus outreach
In recent years, Chabad has greatly expanded its outreach on university and college campuses. Chabad Student Centers are active on over 950 campuses. Professor Alan Dershowitz has said "Chabad's presence on college campuses today is absolutely crucial," and "we cannot rest until Chabad is on every major college campus in the world."

CTeen
The Chabad Teen Network (CTeen) is an international organization dedicated to educating Jewish youth about their heritage. It is the teen-focused arm of the Chabad movement operated by Merkos L'Inyonei Chinuch. There are over 100,000 members worldwide with 630 chapters across 44 countries. CTeen is open to all Jewish teens, regardless of affiliation, and has been called "the fastest growing and most diverse Jewish youth organization in the world."

The organization was launched in 2010, and operates worldwide in cities such as Paris, Rio de Janeiro, Leeds, Munich, Buenos Aires and New York. Its director is Rabbi Shimon Rivkin, and Rabbi Moshe Kotlarsky serves as chairman. Individual chapters and programs are managed by local directors.

CTeen runs a number of ongoing and annual programs, some of which include:
 * CTeen International Shabbaton, an annual inspirational weekend that brings together thousands of teens from around the world. The program includes a traditional Shabbat experience in the heart of Hasidic Crown Heights, a Torah completion ceremony in Times Square, and the CTeen Choice Awards at Brooklyn's Pier 12. The weekend includes a Saturday night concert in Times Square with guest performances by singers such as Gad Elbaz, Yakov Shwekey and American Hasidic rapper Nissim Black.
 * CTeen XTREME, a summer travel camp where campers challenge themselves both physically and spiritually by partaking in extreme sports, observing a completely tech-free Shabbat, and keeping kosher on the road.
 * CTeen U, a college-accredited program where teens learn about Jewish philosophy, ethics and history. The program was launched in 2019 through a partnership with Yeshiva University.
 * Heritage Quest, educational travel programs that aim to deepen the connection of Jewish teens to their heritage through trips to Poland and Israel, offering teens the chance to explore their roots at the source.
 * Kosher Food Club, a co-curricular high school club operating in over fifty high schools throughout the United States that serves as a humanitarian initiative to promote healthy lifestyles, feed the homeless, and provide educational and hands-on experiences making traditional Jewish foods.
 * National Campus Office, coordinator of Chabad on Campus, a network of Jewish Student Centers on more than 230 university campuses worldwide (as of April 2016), as well as regional Chabad-Lubavitch centers at an additional 150 universities worldwide
 * Suicide Alert, workshops that equip teens to assist peers dealing with anxiety and depression resulting from the COVID-19 pandemic. The workshops have been organized by CTeen chapters in Florida, New Hampshire and New Jersey, among others, in partnership with the Gelt Charitable Foundation.

Chabad Young Professionals
Targeting the demographic of young professionals, Chabad's new initiative focuses on social events and business networking to fuel Jewish activity in young professional's lives. With seminars on career advancement, social gatherings for Jewish holidays, and the ability to connect with other like-minded Jews in the area, Chabad Young Professionals (CYP) combines networking and meaning into many young people's lives.

Publishing
Chabad publishes and distributes Jewish religious literature. Under Kehot Publication Society, Chabad's main publishing house, Jewish literature has been translated into 12 different languages. Kehot regularly provides books at discounted prices, and hosts book-a-thons. Kehot commonly distributes books written or transcribed from the rebbes of Chabad, prominent chassidim and other authors who have written Jewish materials.

Kehot is a division of Merkos L'Inyonei Chinuch, the movement's educational arm.

Media
More than any other Jewish movement, Chabad has used media as part of its religious, social, and political experience. Their latest leader, Menachem Mendel Schneerson, was the most video-documented Jewish leader in history.

Chabad.org
The Chabad movement publishes a wealth of Jewish material on the internet. Chabad's main website Chabad.org, is one of the first Jewish websites and the first and largest virtual congregation. It serves not just its own members, but Jewish people worldwide in general.

Community websites
Popular Chabad community websites include Chabad.org, asktherav.com, anash.org, CrownHeights.info, and the Hebrew site, COL.org.il.

Summer camps
Chabad has set up an extensive network of camps around the world, most using the name Gan Israel, a name chosen by Schneerson although the first overnight camp was the girls division called Camp Emunah. There are 1,200 sites serving 210,000 children, most of whom do not come from Orthodox homes. Of these, 500 camps are in the United States.

Political activities
Rabbi Schneerson involved himself in matters relating to the resolution of the Israeli-Arab conflict. He maintained that as a matter of Jewish law, any territorial concession on Israel's part would endanger the lives of all Jews in the Land of Israel and is therefore forbidden. He also insisted that even discussing the possibility of such concessions showed weakness, would encourage Arab attacks, and therefore endanger Jewish lives.

In US domestic politics, Schneerson supported government involvement in education and welcomed the establishment of the United States Department of Education in 1980 yet insisted that part of a school's educational mission was to incorporate the values espoused in the Seven Laws of Noah. He called for the introduction of a moment of silence at the beginning of the school day, and for students to be encouraged to use this time for such improving thoughts or prayers as their parents might suggest.

In 1981, Schneerson publicly called for the use of solar energy. Schneerson believed that the US could achieve energy independence by developing solar energy technologies. He argued that the dependence on foreign oil may lead to the country compromising on its principles.

Library dispute with Russia
In 2013, US federal judge Royce Lamberth ruled in favor of Chabad lawyers who sought contempt sanctions on three Russian organizations to return the Schneersohn Library, 12,000 books belonging to Rabbi Yosef Schneersohn seized and nationalized by the Bolsheviks in 1917–18, to the Brooklyn Chabad Library. Chabad Rabbi Berel Lazar, Russia's Chief Rabbi, reluctantly accepted Putin's request in moving the Schneerson Library to Moscow's Jewish Museum and Tolerance Center as a form of compromise, which was criticized by the Chabad Library.

Controversies
Several movement-wide controversies have occurred in Chabad's 200-year history. Two major leadership succession controversies occurred in the 19th century; one took place in the 1810s following the death of the movement's founder, the other occurred in the 1860s following the death of the third Rebbe. Two other minor offshoot groups were formed later in the movement's history. The movement's other major controversy is Chabad messianism, which began in the 1990s.

Succession disputes and offshoot groups
A number of groups have split from the Chabad movement, forming their own Hasidic groups, and at times positioning themselves as possible successors of previous Chabad rebbes. Following the deaths of the first and third rebbes of Chabad, disputes arose over their succession.

Following the death of Rabbi Shneur Zalman of Liadi, the first Chabad rebbe, a dispute over his succession led to a break within the movement. While the recognized successor was his oldest son, Rabbi Dovber Schneuri, a student of Rabbi Schneur Zalman, Rabbi Aaron HaLevi assumed the title of rebbe and led a number of followers from the town of Strashelye (forming the Strashelye dynasty). The new group had two rebbes, Rabbi Aaron and his son Rabbi Haim Rephael. The new group eventually disbanded following Rabbi Haim Rephael's death. One of the main points the two rabbis disagreed on was the place of spiritual ecstasy in prayer. R' Aaron supported the idea while Rabbi Dovber emphasized genuine ecstasy can only be a result of meditative contemplation (hisbonenus). Rabbi Dovber published his arguments on the subject in a compilation titled Kuntres Hispa'alus ("Tract on Ecstasy").

Following the death of the third Chabad rebbe, Rabbi Menachem Mendel Schneersohn (the Tzemach Tzedek), a dispute over his succession led to the formation of several Chabad groups. While Rabbi Shmuel Schneersohn was recognized as the heir to the Chabad-Lubavitch line, several of his brothers formed groups of their own in the towns of Kopys (forming the Kapust dynasty), Nezhin (forming the Niezhin dynasty), Lyady (forming the Liadi dynasty), and Ovruch (forming the Avrutch dynasty). The lifespan of these groups varied; Niezhin and Avrutch had one rebbe each, Liadi had three rebbes, and Kapust had four. Following the deaths of their last rebbes, these groups eventually disbanded.

Two other minor offshoot groups were formed by Chabad Hasidim. The Malachim were formed as a quasi-Hasidic group. The group claims to recognize the teachings of the first four rebbes of Chabad, thus rivaling the later Chabad rebbes. The Malachim's first and only rebbe, Rabbi Chaim Avraham Dov Ber Levine haCohen (1859/1860–1938), also known as "The Malach" (lit. "the angel"), was a follower of the fourth and fifth rebbes of Chabad. While Levine's son chose not to succeed him, the Malachim group continues to maintain a yeshiva and minyan in Williamsburg, Brooklyn.

Following the death of the seventh Chabad Rebbe, Rabbi Menachem Mendel Schneerson, an attempt by Shaul Shimon Deutsch to form a breakaway Chabad movement, with Deutsch as "Liozna Rebbe", failed to gain popular support.

Chabad messianism
A few years prior to Schneerson's death, most members of the Chabad movement expressed their belief that Menachem Mendel Schneerson is the Messiah. Those subscribing to the beliefs have been termed meshichists (messianists). A typical statement of belief for Chabad messianists is the song and chant known as yechi adoneinu ("long live our master", יחי אדונינו). Customs vary among messianists as to when the phrase is recited.

Since 1994, most of Chabad persists in the belief in Schneerson as the Jewish messiah. Chabad messianists either believe Schneerson will be resurrected from the dead to be revealed as the messiah or profess the belief that Schneerson never died in the first place. The Chabad messianic phenomenon has been met mostly with public concerns or opposition by non-Chabad Jewish leaders.

Art
Chabad Hasidic artists Hendel Lieberman and Zalman Kleinman have painted a number of scenes depicting Chabad Hasidic culture, including religious ceremonies, study and prayer. Chabad artist Michoel Muchnik has painted scenes of the Mitzvah Campaigns.

Artist and shaliach Yitzchok Moully has adapted silkscreen techniques, bright colours and Jewish and Hasidic images to create a form of "Chasidic Pop Art".

Music
Vocalists Avraham Fried and Benny Friedman have included recordings of traditional Chabad songs on their albums of contemporary Orthodox Jewish music. Bluegrass artist Andy Statman has also recorded Chabad spiritual melodies (niggunim).

Reggae artist Matisyahu has included portions of Chabad niggunim and lyrics with Chabad philosophical themes in some of his songs.

In 2022, an Israeli theatrical company produced a Chabad-themed musical HaChabadnikim which follows two young men from Kfar Chabad who go to live in Tel Aviv. The musical runs for 140 minutes.

Literature
In the late 1930s, Dr Fishl Schneersohn, a psychiatrist, pedagogical theorist, and descendant of the founder of Chabad authored a Yiddish novel titled Chaim Gravitzer: The Tale of the Downfallen One from the World of Chabad. The novel explores the spiritual struggle of a Chabad Hasid who doubts his faith and finally finds peace in doing charitable work.

Novelist Chaim Potok authored a work My Name is Asher Lev in which a Hasidic teen struggles between his artistic passions and the norms of the community. The "Ladover" community is a thinly veiled reference to the Lubavitcher community in Crown Heights.

Chabad poet Zvi Yair has written poems on Chabad philosophical topics including Ratzo V'Shov (spiritual yearning).

The American Jewish writer and publisher, Clifford Meth, wrote a short science fiction story depicting the future followers of the "70th Rebbe" of Chabad and their outreach efforts on an alien planet called Tau Ceti IV. The story is told through the eyes of a young extraterrestrial yeshiva student.

The American Jewish writer and publisher, Richard Horowitz, wrote a memoir, The Boys Yeshiva, describing his time teaching at a Chabad yeshiva in Los Angeles.

Film and television
The Chabad-Lubavitch community has been the subject of a number of documentary films. These films include:
 * The Spark – a 28-minute film, produced in 1974, providing an overview of the Lubavitch and Satmar of New York. The film was directed by Mel Epstein.
 * The Return: A Hasidic Experience – a 1979 documentary film on Jews who joined the Chabad movement, directed by Yisrael Lifshutz and Barry Ralbag.
 * What Is a Jew? – a 1989 documentary on Chabad produced by the BBC for the series Everyman.
 * King of Crown Heights – a 60-minute, 1993 film on Lubavitcher Hasidim by Columbia University student Roggerio Gabbai
 * Fires in the Mirror: Crown Heights, Brooklyn and Other Identities – a 1993 TV adaptation of the one-person play by Anna Deavere Smith. It explores the Black and Hasidic viewpoints of people connected directly and indirectly to the Crown Heights riots. The adaptation was produced by PBS as part of its American Playhouse series.
 * The Return of Sarah's Daughters – a 1997 documentary film contrasting three Jewish women, one of whom joins Chabad.
 * Blacks and Jews – A 1997 documentary written and directed by Deborah Kaufman and Alan Snitow on the Crown Heights riot and other incidents involving intergroup conflict.
 * Welcome to the Waks Family – a 2003 documentary of a Chabad family in Australia.
 * Leaving the Fold – a 2008 documentary on young men and women who left the Hasidic Jewish community. The film was directed by Eric R. Scott and the stories featured include former Hasidic Jews living in the United States, Israel and Canada. Featured in the film are two young men from a Chabad family in Montreal as well as a French Lubavitch rabbi.
 * Gut Shabbes Vietnam – a 2008 documentary on a Chabad family in Vietnam. Written and directed by Ido and Yael Zand.
 * Shekinah Rising – a 70 min, 2013 documentary exploring the perspectives of the female students of a Chabad school in Montreal
 * Kathmandu – a 2012 television series aired on Israeli television based on the lives of the Chabad emissaries in Kathmandu, Nepal.
 * Project 2x1 – a 30 min, 2013 documentary on the Chabad Hasidim and West Indian residents of Crown Heights, using Google Glass in place of conventional camera techniques
 * The Rabbi Goes West – a 2019 documentary on a Chabad rabbi who moves to Montana.
 * Guns and Moses – a 2024 film produced by Salvador Litvak and Nina Litvak. The film portrays Rabbi Mo (Mark Feuerstein), a Chabad emissary, and his wife, Rebbetzin Hindy (Alona Tal), whose community is targeted by a white supremacist who shoots and kills a congregant. Rabbi Mo later trains in the use of firearms and seeks to find the killer. The film was released to Jewish film festivals in 2024. The film's original title was Man in the Long Black Coat.

Other television

 * Religious America: Lubavitch – a 28-minute, 1974 PBS documentary series episode focusing on a day in the life of a Lubavitcher man
 * Outback Rabbis – (2018) 50 min television segment by Australian TV network, SBS, covering the regional and rural Australia (RARA) program of Chabad. Directed by Danny Ben-Moshe. Featured on the SBS "Untold Australia" series.

title: Chabad


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Talk:Henry VII

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title: Talk:Henry VII


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Swing rueda

Swing Rueda is a swing dance in the round (wheel) that features someone calling Lindy Hop moves and the dancers moving in unison. It was adapted from Salsa Rueda by Elaine Hewlett and Jeff Miller at The Rhythm Room Dance Studio, Dallas, Texas in 2000.

The Dance

 * Always maintain the integrity of the circle
 * Leaders in general, always rotate through the center of the circle
 * Follows end swing outs and many moves by facing the center of the circle
 * Leaders are responsible for getting to the next partner on time

Swing Rueda Calls (abbreviated)
 * Open Break
 * Swing Out - done by default, not usually called
 * Dame (1,2,3)
 * Inside Turn
 * Outside Turn
 * Reverse Turn
 * Circle
 * Texas Tommy (Stop Texas)
 * Coca-Cola
 * Dame con Dos (clap “& 8”)
 * Mini Dip (1.5 Circle)
 * Sushi Roll
 * Boing Boing
 * Circle into Charleston
 * Tortilla (Amoeba)
 * Right Foot/Left Foot Stomp
 * Tostada
 * Tostada Dame
 * Followers/Leaders Turn In
 * Followers/Leaders Stay In
 * Tranke
 * Boogie Forward
 * Boogie Back
 * Shorty George
 * Slow Motion
 * Mess Around
 * Freeze
 * Itch
 * Traffic Jam (NYC calls*)
 * Dawn Hampton (NYC)
 * Turnstyle (NYC)
 * Smear the Bagel (NYC call for Tortilla/Amoeba)
 * Toasted Bagel (NYC)
 * Plain Bagel (NYC)
 * These are a few of the calls from the NYC swing rueda team exhibition at the 2003 San Francisco Swing Dance Festival

History
In 2000, after extensive studying of Salsa in Miami, Jeff Miller and Elaine Hewlett began teaching the famed 1950's Cuban dance, Salsa Rueda in Dallas, Texas. Rueda is danced in a circle with two or more couples. There is a dancer who calls the moves which the entire circle executes in unison. Some moves require partner changes and that's when the fun begins.

Using the Cuban original as a template, Jeff and Elaine created Swing Rueda. In the early 2000s they taught Swing Rueda at multiple dance events in Texas and across the US including Swingout New Hampshire and the Oakland Swing Dance Festival. Since its creation it has been spread around the globe, with reports of it traveling to Canada, Europe and Singapore.

title: Swing rueda