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2755 Haggerty Road Commerce Township
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Please phone: (810) 851-5060
Ask for Larry
LU
Mercedes Benz
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PAUL MILGRIM
48
17 Years Experience With Mercedes Benz
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Aims
Aussie Boss
Australian business leader visits Israel
and talks about the past and the future.
BY ALLISON KAPLAN SOMMER SPECIAL TO THE JEWISH NEWS
ustralian businessman
John Gough was consid-
ered a maverick when he
began opening factories in
Malaysia, Indonesia and China
15 years ago.
Now that the future of Aus-
tralia's economy is seen to lie in
cooperation and integration with
its Pacific neighbors, he has been
proven a visionary.
Gough, 65, ruddy-faced, hearty
and cheerful, fits the stereotype
of the happy-go-lucky Aussie. In
fact, he is the elder statesman of
the Australian business world.
He is chairman of Pacific Dun-
lop Ltd., the company he served
as chief executive officer in the
1980s. The multi-faceted firm
makes a variety of products with
an emphasis on rubber goods, in-
cluding tires and condoms.
In addition, Mr. Gough sits on
the boards of five of the country's
10 largest companies, including
its largest bank.
He also is chairman of the ad-
visory board of the Graduate
School of Business Administra-
tion at the University of Mel-
bourne, where he passes on the
management principles which
have led to his success.
One of his central guidelines:
Make sure you have fun.
"Unless you enjoy what you do,
don't do it," Mr. Gough said. "I of-
ten tell our younger people that
unless you wake up wanting to go
to work in the morning, you
A
haven't found your correct job.
"If you're working and you look
at your watch and say: 'Oh dear,
is it already 6 o'clock?' then you
know you're really involved in the
task. When you are really in-
volved, you don't think of it as
hard work."
Mr. Gough brought his busi-
ness instincts and sense of fun to
Israel earlier this month as the
leader of the largest trade mis-
sion ever by the Israel-Australia,
New Zealand and Oceania Cham-
ber of Commerce.
The 40 Australian business-
men on the mission — most of
them non-Jews — toured the
country and got an overview of in-
dustry and research.
Mr. Gough was so impressed
with the agricultural research at
the Volcani Institute that he
brought one of its tomatoes with
him to display at a cocktail re-
ception held for the delegation.
Mr. Gough views business
globally, and he has seen it pay
off. When he took the helm of Pa-
cific Dunlop in 1980, the compa-
ny relied on protective tariffs. He
turned it into a firm that could
stand up to any kind of competi-
tion, according to a glowing Aus-
tralian press.
Today, it has more than 80 fac-
tories all over the world, includ-
ing China, Taiwan, Sri Lanka,
the Philippines, Mexico and
Malaysia. During his steward-
ship, Pacific Dunlop's assets grew
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
Symbol
SCIXF
ECILF
TEVIY
I EC
ELBTF
ELT
ELRNF
TAD
CMVT
LANTF
ISL
Name
Scitex
ECI Telecom
Teva Pharm
PEC Israel
Elbit Computers
Elscint LTD
Elron Electronics
Tadiran
Comverse
Lannet Data
First Israel Fund
Exchange
NASDAQ
NASDAQ
NASDAQ
NYSE
NASDAQ
NYSE
NASDAQ
NYSE
NASDAQ
NASDAQ
NYSE
May 6
'17.13
'19.75
'23.63
'29.00
'34.50
'2.50
'16.25
'19.50
'9.88
'8.75
'15.88
May 13
'17.50
'16.13
'24.75
'28.88
'31.00
'2.50
'14.38
'19.25
'9.31
'8.25
'15.00
Change
+$0.38
+51.13
'0.00
Source: Allen Olender, Prudential Securities,
West Bloomfield.
from $415 million in 1980 to more
than $2 billion when he retired as
CEO in 1987. The profit growth
rate during that period was 30
percent and sales revenue went
up 17 percent, he said.
Mr. Gough said he found sim-
ilarities in the futures of Aus-
tralian and Israeli manu-
facturing.
"I think both our futures are
linked to having intelligent and
well-educated societies," he said,
"because in the end, the success
of our economy and the fulfillment
of people is going to come about
by having goods that you can sell
around the world. To do that,
they are going to have to be a lot
of technical goods, because cheap
goods are going to come from
Asia.
"Asia is growing so fast. (Asian
countries) have GNP growth rates
of up to 12 and 13 percent ... and
they are big nations with great
populations. China has 1.2 billion
people — dexterous, intelligent,
hard working people. Indonesia
has 104 million people."
The only way that countries
like Israel, population 5.3 million,
and Australia, with about 17.5
million people, can thrive, he said,
is by "offering goods with a dif-
ference, often called niche prod-
ucts, in areas where your
intelligent people and workforce
can be creative."
Australia is blessed with a
large land mass and natural re-
sources that give its economy a
stronger base.
Still, from his travels, Mr.
Gough said, he has seen small
countries without resources, but
with "cohesiveness and determi-
nation of purpose," make their
economies thrive.
"The only resource you've got
in Israel, by my observation, is
people. Israel is exactly the same
as Singapore. As I see it, Singa-
pore and Israel are in the same
situation. Both have a small land
mass, little area for agriculture,
but highly intelligent people with
a high standard of living.
"What Singapore has done re-
cently is just remarkable. Its wage
costs now, and its standard of liv-
ing, is equal to Australia. Another
country that is interesting is
Japan. It also has little resources
other than people, and look what
it has achieved. What Israel needs
is a cohesive society working to-
ward common goals."
Mr. Gough believes great ben-
efits for Australia lie in becoming
a link to its neighboring Pacific