THE REPUBLIC BANK
RATE TABLE
Rates and prices that affect your
daily finances as of 1 2/3/93
Prime rate
6.0%
Six Month T-bill
3.30%
Gallon Unleaded Gas
$1.01.9
Avg. Price Greater Bloomfield
Area Home
$155,350
Canadian dollar
$.801 U.S.
Average Cost Daily Ski Pass....$12.50
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JACOBSON'S page 35
continuing the family tradition.
In 1972, Jacobson's began
selling stock on the open mar-
ket. But the company still op-
erates as a family business.
Mr. Rosenfeld's son, Eddie,
18, has expressed some inter-
est in the family business, but
his plans are far from definite.
For now, his father continues
to develop and strengthen Ja-
cobson's on his own.
"Most of what we're selling,
people don't have to have," he
says. "This is a business of an-
ticipating what customers want.
"We don't see ourselves as a
chain of stores. We see our-
selves as a group of communi-
ty stores."
To maintain the local focus,
Jacobson's sales promotions are
handled independently by local
sales promotion managers.
Stores are also authorized to
handle unusual situations as
they arise. "Our people know
what's right," Mr. Rosenfeld ex-
plains.
When a local bridal chain un-
expectedly went out of business
one Wednesday afternoon last
spring, Jacobson's Birmingham
bridal boutique received a fran-
tic call from a woman who was
due to be married that Satur-
day night.
She was shocked to discover
that her dress hadn't been com-
pleted by the original store, and
wanted to know if Jacobson's
could help her.
Jacobson's ordered the dress,
which arrived from the vendor
on Saturday afternoon.
"We had two or three fitters
working with her all day," Mr.
Rosenfeld says, adding that the
situation was not uncommon.
"We saved a number of brides."
"A lot of business is listening
to your customer," he continues.
"We're not selling commodities.
We're selling things that help
people feel better about them-
selves." ❑
IAI May Benefit
From U.S.
Israel Aircraft Industries could
benefit from new orders worth
hundreds of millions of dollars
with the U.S. Department of
Defense's merging of its Un-
manned Aerial Vehicle pro-
grams.
Pentagon officials are merg-
ing the short-range and close-
range UAV programs to help
trim the Pentagon's budget, ac-
cording to a report in the recent
issue of Flight International, a
U.S. journal.
IAI and its U.S. partner,
TRW, are the main contractors
for the short-range UAV pro-
gram. The contract for this pro-
gram was received by the team
last January and is worth be-
tween $220 million and $230
million with all the financial