I found some nice comments on a web page called That We May All Be One - reflections on unity - http://ecubishop.wordpress.com/2007/08/12/decisions-of-a-christian-assembly/
"Decisions of a Christian Assembly" provides a look at several major issues addressed by the ELCA Assembly. I've only excerpted the portions dealing with Palestine and Israel.
"The Evangelical Lutheran Church in America concluded their Churchwide Assembly on Saturday August 11 in Chicago...
"The final action of consequence was passage of a statement on the Middle East which calls for ongoing work for a two-state solution in Israel/Palestine. http://www.elca.org/news/Releases.asp?a=3718 - A late amendment was also adopted calling for investment in the Palestinian territories, consideration of refusing to buy goods or invest in activities taking place in Israeli settlements, and a review of other economic options. This last however specifically precludes the divestment option which had become so controversial in a number of other denominations. [...]
"The ELCA will inevitably be criticized by the Jewish community for even suggesting a `boycott' of goods produced in the Israeli settlements which most of the world acknowledges are illegal. While I believe blanket `divestment' from companies doing business in Israel is unwise, the Lutheran decision is compatible with their long-standing Middle East policy. And ours, frankly. It is the most gentle of economic sanctions to put teeth in opposition to `the Occupation' of Palestinian territory.
"All in all, I think our Lutheran sisters and brothers did rather well!"
Information about the ELCA Assembly is available at http://www.elca.org/