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July 02, 1993 - Image 29

Resource type:
Text
Publication:
The Detroit Jewish News, 1993-07-02

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

Edwards, fosters commu-
nity development in the
Ravendale District on
Detroit's east side. The
Rev. Edwards met Mr.
Jacob at a conference of
the Michigan Cancer
Foundation.
The Rev. Edwards said
he and Mr. Jacob shared ,„
a vision "to help our
youth."
"We believe in the
hand up, not the hand
out," the Rev. Edwards
said.
DBI began raising
money — more than
$112,000 since 1992 —
for business classes.
Joy of Jesus has Kinda
Ande
15, owns her
offered one of its facili-
own sew*
sewing business
ties to accommodate
the courses.
But programming real-
ly didn't get off the
ground before Mr. Jacob
and the Rev. Edwards
contacted Steve Mariotti,
a former New York City
businessman who made
national headlines after
founding NFTE, the
National Foundation for
Teaching Entrepreneur-
ship.
NFTE offers entrepre-
neurship classes in 11
different American
cities through a 13-
week program called
"CEOs Under
Seventeen." The pro-
gram helps young peo-
Stacey C aneJo
ple begin their own thumb
Jacob, Dom Zane with
thr ou gh h
F81,1
material for CEOs
businesses. It consists
Distributors and Barbara Levin
Under
Seventeen.
of semi-weekly business
classes, business trips
and a graduation.
Seventeen, the Finney
me advice on how to
With the help of Mr.
Public High School stu-
give a sales presenta
Mariotti, DBI and Joy of
dent has earned hun-
tion."
Jesus brought NFTE to
dreds of dollars.
CEOs Under Seven
Detroit's Ravendale
She said the program
teen also boosted Kinda's
neighborhood. Detroit
helped her take $10 worth
confidence.
instructor Murray
of lace, fabric and thread
"Things I thought I
MacTavish assigns stu-
never would do, I'm
dents homework and pro-
doing. Some people think
"You never
vides them with individ-
they can never be noth-
ual help in getting their
ing, but you never know
know what you
enterprises off the
what you can do until
ground. They draft busi-
can do
you try," she said.
ness plans, create busi-
"We have a lot in com-
until
you
try."
ness cards and keep
mon. And we need each
records on sales and
Kinda Anderson
other," the Rev. Edwards
profits.
said.
Many inner city youth
The African-American
credit the program
and turn it into $130 of
community can learn
for not only teaching
profit. Through weekly
from Jews' self-reliance,
them about debits and
classes, Kinda developed
he said.
balance sheets, but also
a business plan detailing
"I think that what
helping them stay off the
her enterprise.
brings about unity is a
streets.
"I learned about return
common vision," he said.
Kinda Anderson of
on investment, how to
"Joel Jacob and I have a
East Detroit is a 15-year-
forecast how much you
common vision: to help
old entrepreneur. She's a
can make during a Whole
our youth. So here we
seamstress who custom
year," she says. "CEOs
are; our communities are
tailors clothing and deco-
Under Seventeen helps
connected again, and
rative pillows. Since
you sell your stuff. It
we're teaching our chil-
graduating last January
helped me meet people.
dren entrepreneurial
from CEOs Under
And the program gave
skills."

edany compiled by ; Jerusalem Post

—$1 EQUALS /757 NIS (shekels) - Close Price 6116/94

Shekel Falls Against Dollar

The Israeli shekel last
week lost nearly 1 per-
cent of its value against
the dollar following the
U.S. currency's surge in
international currency
markets.
The shekel reached its
lowest level against the
dollar since February as
it dropped 0.97 percent

to 2.799 shekels against
the dollar.
The Bank of Israel
reported an excess
demand of $30.75 million
in the currency market.
Interest rates were
unchanged at 11.9 per-
cent in the Bank of
Israel's daily tender to
the commercial banks.

Teva Shares To Be Offered

.



Teva Pharmaceuticals
will finally see the
remaining 15 percent of
its outstanding shares
reach the public when
Bishopsgate Investment
Management Ltd. offers
the shares held or for-
merly held by the Robert
Maxwell group of compa-
nies. The shares are
worth an estimated $170
million.
Teva said it would
cooperate with Bishops-

gate to facilitate the sale.
Bishopsgate, which acts
as an investment trustee
for pension funds in the
Maxwell Group, was only
recently awarded control
of Teva's shares by a
London court.
The secondary offering,
to be a registered public
offering in the U.S. and
Europe, will consist of
about 8 million ADRs,
which constitute 80 mil-
lion ordinary shares.

Israel's Market Too Slow

Israel is not opening its
markets up fast enough
to competition from
imports, Bank of Israel
Governor Jacob Frenk.el
said.
"It is unclear why the
Israeli consumer has to
pay twice as much for a
shirt as it costs abroad,"
Mr. Frenkel said at a
conference.
Opening up the market

is a key economic priori-
ty, he declared. Mr.
Frenkel added that in a
small economy such as
Israel's, there is nothing
that increases the effi-
ciency and competitive-
ness of local industry
more than exposure to
foreign competition,
aside from the obvious
benefits for the con
sumer.

Free Zone Conditions

Histadrut Secretary-
General Haim Haberfeld
last week lashed out at
the government's support
of the the Free Export
Processing Zone, brand-
ing it "the biggest decep-
tion attempt ever."
Leaders of the labor
federation are livid at
what they said were the
Finance Ministry's weak
replies to their queries

regarding employment
conditions and wage
agreements.
The Histadrut insists
that the Free Export
Processing Zone proposal
must specify that all the
Israeli labor laws apply
there, with special
emphasis on the mini-
mum wage law, and the
workers' right to strike
and organize.

Taxes Will Not Rise Or Fall

Finance
Minister
Avraham Shohat said
Value Added Taxes will
not rise, the travel tax
will not be reinstated
and Israel needs the
entire $10 billion in U.S.
loan guarantees.
His statements come
following a media report
that Prime Minister
Yitzhak Rabin proposed

to review the decisions to
decrease VAT and cancel
the travel tax.
The minister said Mr.
Rabin wanted to clarify
the impact of the two
decisions compared with
the effect of taxing the
stock market. He added
that the prime minister
had voted in favor of
these decisions.

Cy,

CS,
CF)

C

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