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February 12, 1993 - Image 82

Resource type:
Text
Publication:
The Detroit Jewish News, 1993-02-12

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

BUSINESS

It's On Your
Account That We
Invest The Time

e?' - ': 7
= ;7'

As a Financial Advisor for 11 years I
take the time to listen to my clients.
I don't just sell products.

I want to give you a caring professional who
takes the time to understand your needs
and attain your financial goals

If you are looking for special attention
call Robert Levy.

I'm in Business On Your Account!

ROBERT LEVY VP

Prudential Securities

Rock Solid. Market Wise:

737-8454

FIRST ALLIANCE MORTGAGE

& FINANCIAL CO

• Purchases
• Refinancing
• Equity Loans — No Closing Costs or Fees

BANK TURN-DOWN SPECIALISTS

• Payoff Past Due Taxes

Special Promotion

This card entitles
homeowners to a $250°°
appraisal rebate at closing.

• Payoff Balloon Loans
• Home Improvements
• Foreclosure OK

faster than expected in 1993
and 1994, but inflation and
interest rates would acceler-
ate in 1994-1995, prema-
turely truncating hiring
plans by businesses and bor-
rowing by households.
In order to realize Detroit's
full growth potential, feder-
al, state and local taxes and
regulatory burdens on enter-
prises must diminish. On av-
erage it costs a business firm
$5,500 annually to cover reg-
ulatory expenses alone. This
cost falls especially harshly
on small firms — firms with
fewer than 50 employees
where nearly two-thirds of all
new jobs are created in the
expansion phase of the busi-
ness cycle. In fact, 80 percent
of minority hiring is accom-
plished by firms with fewer
than 23 employees. To have
a prosperous economy with
social and political stability,
it behooves us to treat the en-

• Past Bankruptcy OK
• No Income Verification

"Check our Rates
Last — They are the Best!"

COMMERCIAL LENDING

EQUIPMENT LEASING LEASEBACK

Flexible Terms — Non-conforming
• MEDICAL • COMPUTERS • MACHINERY • ETC.
FIRST ALLIANCE MORTGAGE & FINANCIAL CO

Call David J. Blatt at (313) 433-9626
1400 N. Woodward, Ste. 101 Bloomfield Hills, MI 48304

Advertising in The Jewish News Gets Results
Place Your Ad Today. Call 354 6060

-

tire business community with
more enlightened and incen-
tive-enhancing policies.

It is not encouraging for
Detroit's growth prospects
that advisers to the new Con-
gress and president are flirt-
ing with higher gasoline
taxes and backing away from
pledges of lower personal in-
come taxes. The past 45 years
of fiscal experience show
clearly that every new tax
dollar Washington receives
results in Washington spend
ing an additional $1.59, so it
is a serious mistake to believe
that budget deficits will di-
minish unless both taxes and
Washington's spending pro-
grams are reduced.

As for 1993, Detroiters can
count on a 5 percent real eco-
nomic expansion. Coming on
the heels of last year's 6 per-
cent improvement, we will
have more to cheer in 1993. ❑

Profits Are Found
In Salami, Art

CARL ALPERT SPECIAL TO THE JEWISH NEWS

p

RE SIDENTIAL:

• Debt Consolidation

BAROMETER page B17

ractically unknown
outside of Israel,
Moshe Badash is one
of the most widely
talked about persons in the
country and this because of a
career that spans three wide-
ly divergent fields: salami, in-
come tax and art. How do the
three fit together?
The story begins quietly
enough. ME Badash, 37, came
to Israel from Libya with his
parents when he was a child.
He served in the army and
emerged with the rank of ma-
jor. In the early '70s he
started a business, producing
tasty homemade salads and
selling them at prices far less
than those charged else-
where. Within a few years he
had four employees and open-
ed retail outlets which now
begin to handle cold cuts and

other delicatessen foods.

His highly original ads,
hammering away at quality
and low prices, have gained a
following for him so that he
has been able to branch out
with a chain of stores under
the name of Pikanti. Last
year his company did a
business of about $30 million
and was ranked 130th among
Israel's leading concerns. To-
day he has 650 employees,
more than half of them new
immigrants.
That certainly warrants his
projection as a leading per-

sonality. But the second
aspect of his career came with
his public proclamation that
the income tax authorities
were, in effect, a bunch of
crooks and cheats who were
out to get him. Refusing to ac-
cept his bookkeeping records,
they assessed him a tax of
millions, which he refused to
pay. The matter has been in
the courts for five years, and
in the meantime one of the of-
ficials who levied the original 'K1
assessment has gone to jail,
found guilty of criminal of-
fenses in another matter.
Mr. Badash laces almost
every one of his commercial
ads with direct attacks on in-
come tax. His book on the
subject, The Leeches, has
gone into many editions. The
income tax collector is always
the bogey of the man in the
street, and Mr. Badash's cam-
paign has, therefore, turned
him into a popular hero. The
general feeling is that he
must be keeping scrupulous-
ly honest books, or he would
never dare to antagonize the
collectors (and he names
names) as blatantly as he
does.
In recent months, Mr.
Badash has created a new
storm, this time in the art
world. There are two sides to
the story. As he tells it, he
wanted to do something to
help the new immigrants

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