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."