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SAVE Avs lim tT i APITIONAL 10% 1 I COUPON EXPIRES: THURSDAY, FEBRUARY 6, 1992 AT 8 PM HOURS: M-Th-F 10AM-8PM•T-W 10AM-6PM•SAT 10AM-7PM•SUN 12PM-5PM IIN NOVI IN SOUTHFIELD In F&M Plaza In Pine Ridge Center Novi Rd. at 10 Mile Rd. 1-3/4 miles south of 12 Oaks Mall Southfield Rd. at 12 Mile Rd. 1 mile north of 1-696 348-9300 557-3344 I L 50 EXCLUDING GAS LOGS, GAS HEATERS & LABOR • PRIOR SALES EXCLUDED • IN STOCK ONLY EMI NNW MIMI ISM MN =IN 11111=1 NMI IIMM I• WWI FRIDAY, JANUARY 31, 1992 "LIKE NEW WINTER DESIGNER FASHIONS & ACCESSORIES FOR WOMEN & KIDS CONSIGNMENT CLOTHIERS NO APPT NECESS. P.& FREE HOUSE CALL SERVICE 3474570 mil 43041 W. 7 Mile • Northvill Battery Continued from preceding page who invented a device that keeps air clean and safe from bacterial viruses released during laser surgery. The company also is rep- resenting two other inven- tors, one who developed a marine speedometer with much improved accuracy. It should be available in stores this fall. For now, ideas are con- tracted out to engineers and designers. Someday, Jeff Sloan hopes everything is handled in-house. Those who know him say Jeff Sloan is driven. He always seems to be working — on something. Yet his long-term plans include a bit of leisure. He said he will work hard today so he can retire at a young age. Maybe, then, he can do what he loves best: play guitar and sail in Harbor Springs. I NEWS I Consequences If Loan Falls Through Tel Aviv (JTA) — A 150- page report on Israel's econ- omic outlook, due to be sent to Bush administration offi- cials in Washington this week, predicts an un- precedented unemployment rate of 16.2 percent by 1996 if Israel does not receive U.S. guarantees for $10 billion in desperately needed loans. The dearth of investment capital would result in 360,000 jobless Israelis four years from now, when the number of immigrants, mainly from the former Soviet Union, reaches 1 mill- ion, the report says. The report, analyzed ex- tensively by the Israeli daily Ma'ariv, was prepared by Ya'akov Lifshitz, former di- rector general of the Finance Ministry, at the request of Finance Minister Yitzhak Moda'i. Its appearance in Wash- ington will coincide roughly with the end of the 120-day waiting period during which Congress was asked to forgo consideration of Israel's re- quest for the loan guar- antees. Without the infusion of capital through the guar- anteed loans, the economy would likely achieve an an- nual growth rate of only 5.8 percent, and the per capita standard of living would drop one half of 1 percent a year, the report says. The government would be forced to raise taxes. But an even bigger concern is that immigrants with technological potential would leave the country, and the emigration of young adults born in Israel would also increase. The bright side of the report is its optimism about Israel's ability to repay the guaranteed loans. It stresses that Israel has met all of the commitments it took upon itself in the past. The document predicts an N economic upturn in the se- cond half of the 1990s, with exports rising at an average annual rate of 11.5 percent until the end of the decade. Its assumption is that 200,000 immigrants will ar- rive in each of the next three years. In 1995, the number of immigrants will drop to 70,000, and in the following year will return to the level that existed prior to the massive immigration wave. Israel will need the enor- mous sum of $26.5 billion for the absorption of 1 million immigrants, more than double the amount it is ask- ing the U.S. administration to guarantee over the next five years. Israel's balance of payments deficit would grow in that period to an un- precedented $42 billion. Ma'ariv observed that the report, though dealing with a state economy, is basically the same as the forecast of any company that wants to attract capital. At the moment, the focus on the guarantees is mainly political, Ma'ariv said. But the government understands that even if it overcomes the political obstacles, $10 billion are not just given away. It is impossible to re- quest such an amount without the ability to repay being appropriately present- ed. The report therefore is a comprehensive work, not just an ad hoc effort. The document is intended to explain to U.S. decision- makers why Israel needs this money and how it can use it as momentum for growth. It also seeks to con- vince the guarantor that Israel is a good risk. Ma'ariv said that if there are no surprising revelations in Lifshitz's report, it stands as a professional forecast for the Israeli economy. c