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October 23, 1987 - Image 22

Resource type:
Text
Publication:
The Detroit Jewish News, 1987-10-23

Disclaimer: Computer generated plain text may have errors. Read more about this.

ANNENNINI

NEWS I

Send it for Less
at ...

Vada l bie r e,

6453 Farmington Rd.

Mendel Kaplan

Continued from Page 20

(at Maple Rd.)

32581 Northwestern Highway, Farmington Hills, MI 48018
(313) 737-7122

855-5822

WARNING

Where Quality
Makes
The Difference

THESE PREMISES PROTECTED BY

541-5373

"Security is our middle name"

27gAi,eaCO32247,m-Grm07A0.74e - &■., 7 e,Get,

Continued from Page 1

THE AMERICAN JEWISH COMMITTEE — DETROIT CHAPTER

PRESENTS

THE EMANCIPATION OF JEWS IN THE UNITED STATES

A BICENTENNIAL LECTURE CELEBRATING
THE CONSTITUTION'S 200TH ANNIVERSARY

GUEST SPEAKER

DR. PAUL FINKELMAN

Professor of Legal and Constitutional History
at the State University of New York, Binghamton,
author of Slavery in the Courtroom and currently
writing a History of the American Constitution.

MONDAY, OCTOBER 26, 1987, 7:45 P.M.

CONGREGATION SHAAREY ZEDEK

27375 Bell Road, Southfield

American Jews, drawn from our own history as
an oppressed minority, share a special commit-
ment to religious liberty for all. Tradition has
demonstrated that Jewish life is best able to
survive and flourish in a healthy, pluralistic
environment.

The Constitution has served to protect the ideals
of a liberal democracy, human rights and funda-
mental liberties so very important to Jews and
Jewish values. American Jews have served to
protect the Constitution by defending it on the
battlefield and in the courts.

Co-sponsors:
B'nai B'rith Hillel Foundation, WSU • Congregation Shaarey Zedek
and in cooperation with
The Jewish Community Council of Metropolitan Detroit

This lecture was made
possible by a gift from
JOYCE & AVERN COHN

22

FRIDAY, OCT. 23, 1987

the Jewish members of popu-
lation — most of whom have
their origins in Lithuania
have played a central role in
the country's economic
development and have pro-
duced a long list of success
stories.
His recently published
book, "Jewish Roots in the
South African Economy,"
catalogues many of these
achievements and also ad-
dresses the moral dilemma
facing Jewish businessmen
operating within the apar-
theid system. "There is no ex-
cuse today for any South
African not to come out open-
ly for a policy of non-
discrimination and better
opportunities for all," he
wrote. "But the Jewish South
African has a particular
obligation. Otherwise, he will
be betraying his heritage."

Stock Market

03 .

PUBLIC IS INVITED

year in Israel.
Kaplan, who is observant,
insists that a Jew cannot be
completely fulfilled unless he
lives in Israel. But he does not
believe that the traditional
ideal of "instant" aliyah is
necessarily realistic for all
Diaspora Jews.
He personifies his own
philosophy of a more evolu-
tionary approach to aliyah —
a process that begins with a
sound Jewish education,
develops into increasing
Zionist involvement, the pur-
chase of a home in Israel and
investment in the Israeli
economy. "Israel and the
Diaspora are running on two
parallel lines," he says. "I
believe we must deflect these
lines to make them meet."
At the same time, however,
he makes clear his attach-
ment to South Africa, where

NO CHARGE

A NOB

.11111/11111

At issue were two major
considerations: gifts by in-
dividuals and philanthropic
and endowment funds that
have been invested in stocks.
"The collapse of the stock
market is a matter of concern,
but it is too early to make any
prediction," said Dr. Steven
Naasatik, executive vice
president of the Jewish
Federation of Metropolitan
Chicago.
He acknowledged that the
federation's stock in-
vestments probably lost
value, "but I cannot tell you
to what extent. We will know
better in a few days."
A New York stockbroker
and Jewish lay leader who
asked to remain anonymous
noted that the stock fluctua-
tions would have "significant
implications on giving. There
were people wiped out. I met
people who lost a third of
their life's savings." He add-
ed that "if people lose money,
they give less."
Ernest Michel, executive
vice president of the UJA-
Federation of New York,
seemed to be less alarmed. He
said he anticipated that many
major givers would be tem-
porarily forced to pay their
contributions late, but he
didn't observe panic. "I forsee
over the next several weeks a
cash-flow problem that will
affect our agencies," he said.
That means the beneficiary
agencies domestically and
abroad of the agency's $150
million allocations budget all
may receive less funding than
expected in the short term, he
explained.
But, he added, "I'm sure
we're not alone in that, and
I'm sure not only Jewish

philanthropy, but philan-
thropy in general — hospitals,
museums, everybody — will
be affected by it."
Detroit Allied Jewish Cam-
paign chairman David
Hermelin expressed cautious
optimism that the roller
coaster ride the stock market
took this week will not hurt
local fund-raising efforts. "To
shut your eyes and say there
can be no effect, that's
ridiculous," he said. "But do
I think we're heading into a
recession or depression? No. A
lot has to do with the fact that
the market is rebounding."
Most Campaign givers, he
added, "are not retirees with
their fortune in the market,"
but young people whose
wealth derives from "what
they're doing right now"
Hermelin said that, after a
flurry of discussions during
the past week, there would be
no change in the emphasis of
the Campaign. The goal
would continue to be to
broaden the base of leader-
ship in fund raising efforts.
Ernst Michel of New York is
more concerned about philan-
thropic funds. He declined to
describe the size of those of
the UJA-Federation, but con-
ceded that a portion of its
funds, which provide "a large
amount of income to the
organization," were invested
in stocks. "Those portfolios
have been reduced on paper,"
he said. "It is worth much
less than it was last week."
However, because some of-the
income derives from
dividends per share of stock,
Michel seemed certain that
"the income will continue .. .
Hopefully companies will
maintain their dividends."

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