14 Friday, february. 28, 1975` 16.11ili NEWS' SALE fi% All major credit cards honored TO ON SELECTED INVENTORY NEW STORE HOURS 10:00 until 8:30 Monday thru Friday 10:00 until 6:00 Saturday Gentlemen's Quarter 26820 Southfield Road Lathrup Village, Mich. Phone: 557-3060 Ford's Iacocca Forsees Peace, Lower Oil Prices Embargo's End , The president of the Ford Motor Co., just returned from a visit to the Middle East with 36 American businessmen, believes that oil prices will drop, that peace can be achieved in the Middle East, and that the Arab embargo against Ford Motor Co. will be dropped. In a copyrighted story in Sunday's Detroit News, au- tomotive reporter Robert Irvin said Lee A. Iacocca, president of Ford, believes Secretary of State Henry Kissinger's step-by-step ap- proach to a Mideast peace settlement is working. He also believes that peace would give the West- ern nations an opportunity to break the Arab oil car- tel. "Cartels are vicious," Iacocca said, "and exist only long enough to be bro- ken." He added that car- tels are illegal in the U.S., that they use force, and that the U.S. "should use all the resources at its command to break up any cartel anytime and any place." Iacocca said the Arabs have driven up the price of oil from $2 to $11 per barrel, reaping a $100 billion wind- fall in 1974. "All the U.S. companies — General Mo- tors, Ford, Exxon, Xerox and the others — in all their history have piled up $107 billion. REFLECTIONS OF LOVE FLORAL BOUTIQUE 1 1 In The Hajvard Row Mall — 11 Mile & Lahser • INTRODUCING The Mini Shop with Maxi Values Party & Centerpiece Specialists Effective Immediately Everyday Is SPECIAL DAY Full line of-Cut Flowers-Blooming Plants-Green Plants- Exclusive One Of A Kind Pots Etc. EVERY Mon. thru Thurs. We will offer one or more items at Reduced Prices Let Us Help Plan All your Flower Needs. Hours 9 a.m.-9 p.m. Mon. thru Sat., Sun. 8 a.m.-7 p.m. Call 352 - 3554 for our daily special or all your flower needs Hospital and Residence Deliveries LEE IACOCCA "The oil cartel got almost that much in one year," he said. Iacocca said the Arabs have boycotted Ford Motor Co. for 12 years since it be- gan doing business in Israel. He brought up the boycott informally during the Mi- deast visit to Israel and Arab countries, and said he expects it to eventually end, "because it doesn't do any- one any good." But he emphasized that Ford Motor Co. would con- tinue to deal with Israel, saying, "We have always dealt with Israel since it was established as a na- tion over 25 years ago and we deal with scores of other countries . . . "We are not going to star t selecting nations in whic we will not do business." 111" As for Middle East peace, Iacocca added that many people he talked with during the trip believed there will be no peace until Israel re- turns to her 1967 borders. He said peace could be achieved through tough bar- gaining and concessions on both sides. "Israel knows concessions are coming. Its stance is that it wants peace, but it wants assurances before walking away from land bought with the blood of its people." He added that as a busi- nessman he was "the grow- ing economic power of 130 million Arabs surrounding a small island of a few mil- lion Israelis. They must get along, commercially, and soon." Israel to Commence Major Oil Drilling, Exploration Operation JERUSALEM (JTA) — Israel will invest large sums of money in an all-out at- tempt to find oil at both inland and off-shore drilling sites, according to recent discussions before the Knes- set's economic committee. The effort will also in- clude a major re-organiza- tion of oil exploration and drilling operations, possibly in conjunction with foreign interests. The committee is considering the ameliora- tion of Israel's overall en- ergy problems, including the development of nuclear energy sources. Igal Horwitz, chairman of the economic committee, was sharply critical of the pace of oil prospecting in Israel. He urged that drill- ing projects should be accel- erated at sites pin-pointed by oil geologists. He also claimed that the possibili- ties for collaboration with foreign companies and for- eign investments in oil searches have not been suf- ficiently exploited. Dr. Eli Rosenberg, a geo- logical consultant, said that so far 151 drillings have been carried out in Israel at a total cost of some IL 300 million, (about $50 million), including $40 million in- vested by foreign compa- nies. But he said, compared to the widespread drilling operations carried out in other countries, Israel's ef- forts to date have been meager and therefore the results so far were not en- couraging. Responding to Horwitz's complaint that not enough initiative has been shown in planning and _, organiz- ing the search for oil, Is- rael Lior, who is in charge of oil prospecting for the govqrnment, outlined a re- organization plan. He said a roof organization will be established to administer overall prospecting and to set work and purchasing priorities. He said the pur- chase of drilling equip- ment will total over IL 100 million in the coming year. A separate organization will deal with oil prospect- ing, field work and drilling operations. At the present stage, the Lapidot Co. will operate as a drilling con- tractor only while the Oil Prospecting and Investment Co. and Netivei Neft Ltd. will devote themselves to the search for new wells, Lior said. `Israel, Jordan Failed to Agree on Peace Pact' TEL AVIV (JTA) — For- mer Defense Minister Moshe Dayan said that Is- raeli leaders and Jordanian leaders, including King Hussein, met several times between 1967 and 1973 but failed to work out a peace agreement because Hussein demanded Israeli pull-backs that were unacceptable. Dayan, who made the dis- closure in the latest of his series of lectures at Bar-Ilan University in Ramat Gan, said it was necessary to do so to refute allegations that Israel had missed opportun- ities to reach a settlement with Jordan and therefore must now deal with the Pa- lestine Liberation Organiza- tion.