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David Hermelin, left, confers with his wife Doreen, and co-chairmen
Douglas Schubot and Barbara Stollman about the agenda for this
week's gathering.
In a recent interview with
The Jewish News, Hermelin
Atlas Glass & Mirror
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Continued from Page 1
Daily . . . 10-5:30
Thurs. . . . 10-8:30
Sat. . . . 10-5:00
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\:17
Hermelin
Fine Furniture & Accessories, Always 20% OFF
talked about the importance
of Detroit's hosting the con-
vention and about what in-
vestment in Israel Bonds
means for the future of Is-
rael.
A born promoter, as any-
one who has had occasion to
meet or hear him knows,
Hermelin says locating the
conference in Detroit pro-
vides him the opportunity to
show visitors the dynamism
of the Jewish community
here.
"When you use Detroit as
the host city, the totality of
the organization gets a bet-
ter focus on the importance
of Detroit — that Jewish life
is alive and well and pros-
pering and providing leader-
ship. It's important for na-
tional organizations (to
know) that there is a world
outside of New York," he -
said.
Hermelin added he is
proud of Detroit, and the
conference will afford him
an opportunity to give his
associates from other com-
munities a look at the "won-
derful things going on in
Jewish organizations in
Michigan at this time," in-
cluding the Holocaust Memo-
rial Center, a point of inter-
est on the conference's
schedule of activities.
He said he hopes that the
delegates from throughout
the U.S. and Canada will
have a pleasant experience
and want to come back to
Detroit.
At the sanie time, he hopes
the conference delegates will
be "recharged,' with a new
energy to boost the sale of
Israel Bonds in their home
communities. According to
Hermelin, the fall is the
busiest time of the year for
Israel Bonds. There are
numerous organization and
synagogue dinners, High
Holiday appeals in more
than 1,100 congregations
throughout the country and
a great push toward cash col-
lection.
That recharging process
will take place in workshops
on new sales techniques and
investment instruments.
Among the new securities
are the Variable Rate In-
strument (VRI) and the Indi-
vidual -Variable Rate In-
struntent. According to
Hermelin, there is in the fi-
nancial world great emphasis
on pension and profit-sharing
plans. For Israel to benefit
through these types of plans,
the VRI and IVRI were
created. To purchasers of
$25,000 or more (in qualified
plans) the VRI pays 71/2 per-
cent guaranteed plus 50 per-
cent of the difference be-
tween 71/2 percent and the
prime rate. The bond floats
with the prime rate of inter-
est, and every six months it
re-adjusts itself based on the
prime rate.
The IVRI is aimed at indi-
vidual investors of $10,000
or more. This bond pays 6
percent plue 50 percent of
the difference between 6 per-
cent and the prime' rate. "It's
a good market rate instru-
ment," Hermelin staid.
Hermelin says with the
development of these
securities, Israel is keeping
pace with other financial in-
stitutions, except that Israel
is the exclusive beneficiary.
"We're liecoming a money
management society today,
and State of Israel Bonds is
marching in the '80s and '90s
with. the development of in-
struments just like other fi-
.