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Metrobank
4,7950 West Maple Rd.
West Bloomfield, MI 48322
(810) 960-6060
Member FDIC
33205 Grand River Avenue 37000 Grand River Avenue, Suite 100
Farmington, MI 48336
Farmington Hills, MI 48335
(810) 474-6400
(810) 474-6400
27500 Farmington Rd.
Farmington Hills, MI 4833
(810) 474-6400
Platinum Plus Checking account requires a $2,500 minimum opening deposit $10.00 per month service charge on accounts not meeting monthly balance
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MEMOS page 59
p.m., Monday, Feb. 6, in Birm-
ingham. Rick Bloom, an estate
planning attorney, CPA and ra-
dio talk show host, will be the
guest speaker. Reservations are
required. To register, call (810)
643-9500.
WORKSHOPS for small busi-
ness owners and managers have
been scheduled by the Business
Development Center (BEDC) in
Troy.
They include how to write a
business plan (Wednesday, Feb.
8), financing your business
(Thursday, Feb. 16), export train-
ing (Thursday, Feb. 23) and how
to develop a marketing and com-
munications plan (Tuesday, Feb.
28). Computer training also is
available.
All the courses will be held at
the BEDC offices. To register or
for further information, call the
BEDC, (810) 952-5200.
AN OVERVIEW of the QS 9000
standards will be presented at
the next monthly Manufacturers
Breakfast Seminar Series meet-
ing.
The meeting will be held from
7:30-9:30 a.m. Thursday, Feb. 9,
in the Advanced Technology Cen-
ter on the Auburn Hills campus
of Oakland Community College.
OCC's Manufacturing and Tech-
nological Services Platform and
the Midwest Manufacturing
Technology Center are present-
ing the series.
To register for the Feb. 9 meet-
ing and for further information,
call (800) 292-4484, Ext. 4107.
The subjects are products lia-
bility law in Michigan (Thursday,
Feb. 9, at the Radisson Plaza in
Southfield), how to obtain re-
search & SBIR funding (Tuesday,
Feb. 14, in East Lansing), the im-
portance of partnering for tech-
nology companies (Tuesday, Feb.
21, in Ann Arbor) and challenges
in plastics processing (Wednes-
day, Feb. 23, in Grand Rapids).
To register for the seminars,
call MTC, (313) 936-2746.
AN INTERACTIVE education-
al seminar on how to maximize
profits while minimizing over-
head will be held from 8:30 a.m.
to noon Wednesday, Feb. 15, in
the Builders Association of South-
eastern Michigan (BASM) head-
quarters in Farmington Hills.
NCI Associates of Madison
Heights will present the seminar.
For registration information, call
BASM, (810) 737-4477.
PRACTICAL ADVICE for the
expert witness will be offered at
an American Society of Apprais-
ers meeting at 6:30 p.m., Mon-
day, Feb. 20, at the Troy Marriott.
Guests speakers will be David
Berry and Robert Norton, attor-
neys at the law firm of Butzel
Long. For meeting reservations,
call Kurschat & Company, (810)
816-9166.
AN INVESTMENT outlook for
1995 will be presented by Charles
Ammerman of Paine Webber at
an International Association for
Financial Planning breakfast
club meeting Wednesday, Feb.
MICHIGAN TECHNOLOGY 22, at the Skyline Club in South-
Council (MTC) is presenting four field. For reservations, c211 Nancy
Simon, (810) 643-9315.
seminars in February.
Interest Rates
Remain At 17 Percent
Last call...
All Fall and Winter
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Friday, January 21st
10 a.m. - 6 p.m.
*Anne Klein
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80
Saturday, January 22nd
10 a.m. - 6 p.m.
* Sacha of London
* Donald Pliner
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Bank of Israel Governor Jacob
Frenkel stood his ground and
decided to leave interest rates
unchanged at 17 percent this
month, despite strong pressure
from Finance Minister Avraham
Shohat and the private sector to
lower rates.
Mr. Frenkel said interest rates
would go down in the coming
months should there be clear
signs that inflation is moderat-
ing. "Lowering interest rates to-
day could be understood as a
premature declaration of victory
over our foe inflation, and, as a
result, it could weaken the de-
termination to fight inflation,"
Mr. Frenkel said.
Mr. Shohat said the central
bank's decision was a mistake.
"There-were good economic
justifications for lowering rates,"
Mr. Shohat said. "There are
real signs that the Bank of
Israel's policy of monetary re-
straint has begun to bear fruit."
There are still some pockets of
worry, according to Mr. Frenkel.
Wholesale price rises accelerated
from October through December.
Housing prices picked up in De-
cember after moderating some-
what in the previous two months.
The governor rejected the call
for a symbolic rate cut, saying the
central bank would only be ready
to send such signals if they were
backed up by concrete steps such
as significant government spend-
ing cuts and tax burden reduc-
tions.
The government must force
the Bank of Israel to lower inter-
est rates to prevent a recession,
said Dan Propper, president of
the Israel Manufacturers Asso-
ciation.
Mr. Propper said it is impos-
sible to have high real interest
rates of 10 percent and even 20
INTEREST RATES page 62