which will put more people in
the city and help create critical
mass."
While Mr. Kiriluk said he
could not be more specific on
Kirco's future plans in Detroit,
he cited Mr. Archer's fortune in
taking over a city that has ma-
jor problems. None are as mon-
umental as the aftermath of the
1967 riots, when close to
500,000 people fled to the sub-
urbs over the course of three
years.
In addition to the 1967 riots,
the mayor's tactics, where Mr.
Young tended to polarize the
city and suburbs to boost his
standing among supporters,
had a profound effect in leaving
Detroit a city of nearly one mil-
lion residents, 80 percent of
whom are black. The suburbs,
by contrast, are 95 percent
white.
Detroit's population base,
where nearly a third of the city's
residents live in a backdrop of
poverty, nearly half of whom
are children, would benefit
greatly from an improved and
more responsive educational
system. Mr. Archer said he
would also work to set up a vol-
untary system of collecting
weapons, especially automat-
ic guns.
"Ever since Archer began
campaigning (two years ago),
he was talking about knocking
down walls and creating
bridges between the city and
suburbs," said Jack Wolfe, pres-
ident of World Wide Financial
Services, Inc., a mortgage lend-
ing firm in Birmingham.
"For years, Young had a sec-
ular approach to city problems,
which was negative. That
turned a lot of people off. But
now Archer is planning to revi-
talize the neighborhoods and
get people to move back in. We
support that effort and will
make a commitment."
By June of next year, Mr.
Wolfe said World Wide would
open its first branch office in
Detroit, most likely with a staff
of eight to 12 people located
along Jefferson Avenue near
the city's downtown district. Mr.
Wolfe said another branch of-
fice in Detroit may follow by the
end of 1994.
Jim Bellinson, vice president
of marketing and acquisitions
for Medco, Inc., a home care and
temporary services firm in
Southfield, said the company
planned to expand and relocate
its Detroit branch over the next
year due in large part to Mr.
Archer's election.
"I've met several times with
Mr. Archer and he recognizes
that holding himself out to the
business community will create
a number of opportunities," Mr.
Bellinson said. "Such an ap-
ISRAEL DIGS
Specially compiled by ?he erusalem Post
—$1 EQUALS 2.9700 NIS (shekels) - Close Price 12/15193 —
Economists Pleased With CPI
Israel's Consumer Price Index
rose 0.8 percent in Nov-ember,
marking the first time in four
months that the cost-of-living
index has risen less than 1
percent.
Based on the indexes for the
first 11 months of the year, the
annual Israel inflation rate for
1993 is estimated at 11.5 per-
cent. Economists expected a
slightly higher index this
month and were pleasantly
surprised.
Although housing prices
continued rising, they did so
more moderately, contribut-
ing only a quarter of the in-
dex's increase. Food prices
contributed similarly to infla-
tion, while prices for fruit and
vegetables, clothing, health
and transportation and com-
munications contributed 0.1
percent each to the index.
Industrial Exports Jump
Industrial exports from Israel
jumped 16.4 percent to $11.8
billion since the beginning of
the year compared to the same
period in 1992, the In4utitry
and Trade Ministry rePorted
last week.
The metal and electronics
sectors contributed most of the
increase. Exports from these
sectors, which include defense
and most of the high-tech ex-
ports, rose 32.7 percent.
The plastics and chemicals
sectors also contributed to the
increase, with a rise of 18 per-
cent in the first 11 Months Of
the year In particular, phar-
rnac,eutical exports grew sig-
nificantly.
GDP In Territories GrowsY
proach will make it much more
attractive for businesses to
come to Detroit and prosper.
"No one from the past ad-
ministration ever held his hand
out to suburban businesses to
locate in Detroit. Archer will be
successful in bringing new busi-
ness to Detroit, which will cre-
ate jobs and the need for
housing. These things will just
snowball."
Mr. Bellinson also said the
recently passed North Ameri-
can Free Trade Agreement,
which will eliminate trade bar-
riers between Canada, Mexico
and the United States, will ben-
efit Detroit, given its close prox-
imity to Canada and the large
automotive presence in the
metro area.
Nathan Leader, a partner
with the David Leader Man-
agement Co., a real estate ac-
quisition, development and
management firm in Farming-
ton Hills, which owns and
manages the River Terrace
Apartments on Jefferson Av-
enue in Detroit, said he had
confidence that Mr. Archer
would turn the city around.
"Obviously we support
Archer and we feel he will make
a change for the better. We pur-
chased River Terrace (in 1985)
because we felt the climate was
improving," said Mr. Leader.
"Our game plan is that we will
ot „est
look more favorably at future
deals in Detroit, now that we
have a new mayor.
"Before, when we received
submissions to do something in
Detroit, I can tell you, we had
many concerns, and it was not
just the mayor (Young). The
Archer administration shows a
lot of promise and we're hope-
fill for the future of Detroit and
the entire metropolitan area."
Apart from business leaders,
community organizations are
also striving to improve their
relationship with the city.
"Over the next few weeks,
we'll be developing ties with
high officials of the Archer ad-
ministration, and we urge Jew-
ish business leaders and Jewish
community organizations to get
acquainted with the new city
officials," said David Gad- Harf,
executive director of the Jewish
Community Council in Bloom-
field Hills.
"At this point, we have no
plans to get deeply involved in
the business development of De-
troit because that has not been
a traditional role for the Jewish
Community Council. But we're
looking to change that. The op-
portunity for improved econom-
ic and community activity in the
entire metropolitan region is too
great to ignore." ❑
KUDOS
We welcome Your' suggestions. Please mail + Ypea and double-spaced]
items for "Kudos" to Kimberly Lifton at The Jewish News.
The Gross Domestic Product
in the West Bank and Gaza
grew eight percent annually
in 1991 and 1992 compared to
the two previous years, the
Central Bureau of Statistics
reported last week.
The upswing in GDP, which
measures the value of goods
and services produced by the
local economy, came despite
sharp fluctuations as a result
of the intifada and the Gulf
war.
During the five-year period
between 1986-1987 and 1991-
1992, the GDP grew at an av-
erage annual rate of 5 percent.
During the same period the
population expanded 5 percent
a year
The domestic product per
capita increased 3 percent in
19914992 compared to 1989-
1990, and 1 percent compared
to 1986-1987. The territories'
GDP totaled 4 percent of Is-
rael's GDP. Three-quarters of
the GDP came from the West
Bank while the remaining
quarter came from Gaza.
More French Companies May Invest
A conference in Paris held last
week to encourage French in-
dustialists to invest in projects
in Israel should yield results
soon, Israel General Bank man-
aging director Elilrunis said last
week #' 040 k
The conference, organized by
Baron Edmond de Rothschild,
chairman of La Companie Fi-
nanciere Edmond de Rothschild
Banque and Israel General
Bank, was attended by dozens
of chairmen and managers of
French companies.
Among the participants were
representatives of companies
specializing in the establish-
inept of airports, commercial
companies and representatives
of chemical and pharmaceuti-
cal comPanies.
Eli Hurvitz, managing direc-
tor of Teva Pharmaceutical In-
dustries, discussed the economic,
developments expected here and
gave an account on possible in-
dustrial and infrastructure in-
vestments.
Fibronics Establishes Subsidiaries
Fibronics reported it recently
completed the establishment
of three new subsidiaries in
Madrid, Milan and Breda,
Holland.
These subsidiaries join pre-
viously established Fibronics'
subsidiaries in England and
Germany, as well as in Japan
and in the United States.
During the first nine
months of the year, Fibronics,
the Haifa-based computer
communications company, im-
proved its financial results
with a net loss of $4.8 million
on sales of $37.2 million. Dur-
ing the same period last year,
the Elron subsidiary showed
a net loss of $8.4 million on
sales of $40.1 million.