1991 sale of the business to its
employees, sent the company
reeling.
Mr. Kosins was known na-
tionally and internationally in in-
dustry circles. Around town, he
gained popularity for his televi-
sion commercials with Detroit
Pistons coach Chuck Daly, espe-
cially during the Pistons' NBA
championship seasons of 1989
and 1990.
"We just couldn't raise enough
cash in time to pay off our debts
and continue to buy merchan-
dise," Mr. Wachter said about this
summer's do-or-die effort. 'That's
why we decided to make the shift
to a 'going out of business' sale."
The "Fighting for Survival" sale
at Kosins began June 9 and last-
ed for nearly two months.
Already marked-down store in-
ventory is being cut an addition-
al 30 percent, giving customers a
final savings of up to .75 percent.
Mr. Woollier said the Joint Op-
erating Agreement (JOA) at the
Detroit News and Detroit Free
Press, which went into effect in
1989, was one of the key factors
which hurt Kosins in its compet-
itive industry.
"For the same amount of mon-
ey, we can now buy 25 percent of
. the advertising space in those pa-
pers than we could before the
JOA," Mr. Wachter said. ❑

sit

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CD

BERKLEY/TODD FIfGgR
(810) 546-2590

Sterling

BIRMINGHAM/NORM LINING
(810) 646-8787

SOUTHFIELD/CHARLES ROLLO
(810) 355-9831

8t rust

Lannet Profits
Rise 71 Percent

WEST BLOOMFIELD/JEFF THOMPSON
(810) 855-6644

"We create solutions."

PENALTY FOR EARLY WITHDRAWAL RATES SUBJECT TO CHANGE WITHOUT NOTICE. ANNUAL PERCENTAGE YIELD EFFECTIVE AS OF AUGUST 19,1934.

Israeli company Lannet posted a
71 percent rise in second quarter
net profits to $1.2 million from
$724,000 during the same period
last year.
CEO Benny Hanigal said it
was the fourth consecutive quar-
ter of record sales for Lannet. Of
note was the new LANswitch
product, which "generated 14 per-
cent of the second quarter's rev-
enues," according to Mr. Hanigal.

If you are not wearing it...
sell it!...
or BORROW on it!

You can't enjoy jewelry if it's sitting
in your safe deposit box. Sell or bor-
row on it for immediate cash. We deal
in jewelry, watches & gemstones.

A Service to Private
Owners, Banks &
Estates

Trade Gap
Is Smaller

The Israeli trade deficit fell by a
third last month to $410 million
as exports rose 3.6 percent and
imports dropped 8.5 percent, the
Central Bureau of Statistics re-
ported.
Exports rose to $1.34 billion in
July from $1.29 billion in June,
while imports fell to $1.75 billion
from $1.91 billion. According to
the bureau, the drop in imports
reflected a sharp decrease in fuel
imports.
During the first seven months
of the year, the trade gap shot up
37 percent to $4.67 billion com-
pared with the same period last
year. ❑

Gem/Diamond Specialists

.\+7

APA PI Sk,.

0 407z
, er

Fine Jewelers

EST. 1919

AWARDED CERTIFICATE BY GIA
IN GRADING & EVALUATION

Lawrence M. Allan, President

30400 Telegraph Rd. • Suite 134
Bingham Farms 642-5575

Daily `Til 5:30
Sat. 'Til 3

(CLOSET COMPANY

INC.

)

Foremost in Design, Installation and Service

7

626-5520
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