The Playwright President
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ISRAEL. DIGEST'
Elliott Milstein left a career in the theater
to market his father's skin-care products.
Specially compiled by The Jerusalem Post
—$1 EQUALS 3.0210 NIS (shekels) - Close Price 5-11-94—
Inflation Wasn't That Bad
MARTY NIEDBALA SPECIAL TO THE JEWISH NEWS
A
ah, the glamorous world of
beauty and cosmetics.
Lithe, long-legged models,
their hair wind-blown and
full of body. Their skin tones al-
abaster, seemingly emitting their
own light. Eye-liner color per-
fectly matched to their eyes.
Their full lips richly glossed and
dazzling in the bright lights.
Aah, the real world of cosmet-
ics and skin-care medications. A
drab-colored building behind a
strip mall in the blue-collar sub-
urb of Hazel Park. Stoic, bustling
workers clad in laboratory frocks,
dry skin.
C&M's success in the shadows
of the cosmetics industry fits well
with 40-year-old company presi-
dent Elliott Milstein, son of
founder Nathan Milstein, who re-
tired a few years ago.
Elliott Milstein briefly glimpsed
the brightest lights of the enter-
tainment industry on Broadway.
For a time after graduating
from the University of Toronto
with honors in 1976, Mr. Mil-
stein, a budding playwright, pro-
ducer and director, shopped his
plays to numerous Broadway
,
ter led to a job in Ann Arbor,
while he still was at the univer-
sity, directing a Pinter classic,
The Caretaker, for a struggling
troupe.
The group wanted to take its
act to Detroit but needed enough
money to make the move. The ac-
tors convinced Mr. Milstein to di-
rect them. The experience fueled
his desire even more to make a
career in the theater.
"I was used to having student
productions take an entire week
just to get the lines memorized,"
Mr. Milstein said. "With these
Inflation was 1.5 percentage
Because of the long report-
points lower last year than re- ing lag, the old method pushed
ported, based on the new Cen- up last year's index by 1.5 per-
tral Bureau of Statistics cent, while it underestimated
housing prices survey, the inflation by two percentage
Bank of Israel reported.
points in 1992.
According to the central
This means that inflation in
bank's annual report, the old 1992 was actually 11.6 percent
method used by the bureau up instead of 9.6 percent, and last
until this year to measure hous- year's inflation dropped to 9.75
:, ing prices distorted the Con- percent rather than rising to
sumer Price Index.
11.25 percent.
Israel Wants Cheaper Wheat
A U.S. Trade Office delegation
was in Israel this week to dis-
cuss issues arising from the eco-
nomic agreement with the
Palestinians, the Ministry of
Industry and Trade announced.
Israel wants to purchase
U.S. wheat and flour at subsi-
dized prices. It currently pays
unsubsidized prices. Under the
agreement with Israel, the
Palestinians will be allowed to
import wheat without any re-
strictions.
Israeli government officials
fear the Palestinians will be
able to import cheaper wheat,
which would require Israel to
subsidize U.S. wheat imports
to avoid being flooded with
cheaper Palestinian imports.
PHOTO BY DANIEL L IPP I17
Trade Deficit Widens 50.6 Percent
Elliott Milstein is proud of products like Colladerm and Glytone.
their hair stuffed under protec-
tive shower caps. Boxes and
drums of chemicals and mixes
warehoused almost to the ceiling.
Tubes and jars constantly being
filled with medicinal-smelling
ointments and treatments.
It is that diligent, behind-the-
scenes work during the last 50
years that has made C&M Phar-
macal Inc. a major player in the
field of skin-care products.
C&M's newest offering; the
Glytone Enhancement Program,
is being marketed as the indus-
try's most effective, least irritat-
ing AHA (alpha hydroxy acid)
product line. It is designed to rid
people of wrinkles, age spots and
producers, directors and play-
house managers.
What was a life dream turned
into a "sobering experience. My
plays were rejected harshly," Mr.
Milstein said.
He had written several which
he says compare to works by
Harold Pinter, a British play-
wright known more for his
screenplays (The French Lieu-
tenant's Woman, Last Tycoon)
than his plays.
One of Mr. Milstein's plays,
The Man Who Stole Tuesday, was
produced at the University of
Toronto.
Mr. Milstein's interest in plays
and the comparison to Mr. Pin-
professionals, we had the block-
ing and the lines down in the first
six hours. I had a whole week to
work on nuances!"
The production was a smash.
It enabled the group, called Road-
side Attractions, to move its op-
erations to Detroit, where it now
operates as the Attic Theatre.
But, Mr. Milstein learned that
the theater was not his niche in
life.
"To succeed in the theater, you
have to be great, not just good,"
Mr. Milstein said.
Mr. Milstein also learned,
while working at a bookstore af-
ter his graduation from college,
PLAYWRIGHT page 46
The trade deficit in Israel
jumped 50.6 percent to $789
million last month compared to
March, as imports rose 7.6 per-
cent and exports fell 10 percent,
the Central Bureau of Statis-
tics reported.
1: Imports rose to $1.935 billion
from $1.798 billion in March,
while exports fell to $1.146 bil-
lion from $1.274 billion.
However, imports rose 8.4
percent in the first third of the
year compared to the previous
third, while exports ticked
down 0.5 percent. During that
period, . the trade deficit
widened by 31.3 percent.
Budget Surplus A Taxing Situation
The Israel budget registered a
NIS 2.3 billion surplus in the
first third of the year. Tax rev-
enues jumped and expendi-
tures were moderate, deputy
capital market supervisor
Moshe Sagui reported.
Although the government
still expects to finish the year
with its budgeted deficit of NIS
[ 7.5 billion, it will slow down its
bon-owing activities this month
and in June to limit the diver-
sion of funds from the capital
markets, Mr. Sagui said.
The government intends this
month to raise MS 700 million
in tradeable bonds and NIS 500
million in non-tradeable bonds.
By contrast, Mr. Sagui ex- !:
pects the government to re-
deem MS 2.4 billion in bonds.
This means that redemptions
will exceed borrowing by NIS 1
1.2 billion this month.
Mr. Sagui predicts that in
June, the government will not
exceed by much the NIS 700
million borrowed this month,
and the budget will still regis-
ter a surplus.
>_
45