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January 06, 1989 - Image 1

Resource type:
The Detroit Jewish News, 1989-01-06

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JANUARY 6, 1989 / 29 TEVET 5749

Peres Takes Heat
For Devaluing Shekel

Jerusalem (JTA) — Finance
Minister Shimon Peres has come under
criticism, less than a week after he
took office, for the decision-making pro-
cess that led to the surprise nearly 8
percent devaluation of the shekel
Israel's central bank stopped sell-
ing foreign currency on Saturday, in an
effort to stem panic, according to The
New York Times. It also reported that
public and businesses purchased $70
million of hard currency last Thursday
alone. The Bank of Israel, the nation's
central bank, has raised its lending to

banks to 48.25 percent a year, up from
32.8 percent.
Senior Labor Party ministers have
opposed Peres' proposed budget cuts.
Labor's No. 2 man, Defense
Minister Yitzhak Rabin, called the cuts
"dangerous and unacceptable" and said
that he would not agree to the propos-
ed cuts in the defense budget. He
estimated they would come to between
450 and 600 million shekels about
$165 million — and would cost 3,000
to 4,000 jobs at a time when the
ministry says it needs more money to

The Jewish community plans a frontal assault
on the deadly Tay-Sachs disease.

Page 22

Continued on Page 19

Bill Haber's Impact:
Far Beyond 1U-11A


News Editor

Nothing could stand in the way of
Professor William Haber when it
came to one of the causes to which he
devoted his life. When a snowstorm
prevented many Midwestern
members from attending an
American ORT Federation meeting in
New York about a decade ago, it pro-
ved no challenge to Haber who sur-
prised all when the then 80-year-old
ORT leader walked in the door.
It was that devotion to causes, to
Jewry, to youth and to ORT that was
recalled this week upon the passing
of the University of Michigan dean

emeritus and professor of economics.
Professor Haber, who died Dec. 30,
was 89.
"Well into his 80s he traveled the
world over for causes he was commit-
ted to," said Detroiter David
Hermelin, president of the American
ORT Federation. "Until his illness, he
impacted and influenced major
organizations?' Born in Romania,
Professor Haber came to the U.S. at
age 10. He received his doctorate from
the University of Wisconsin in 1927
and taught economics at the forerun-
ner of Michigan State University —
Michigan Agricultural College — un-
til 1936. From there, he went to the

Continued on Page 12


A 24-page pull-out section
previews the new Auto Show,
including fond memories
of Detroiters' favorite cars.

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