is far more creative and different
than if it had just been one single
group with one point of view."
L'Oreal may produce glam-
orous products, but its approach
is purely scientific. It employs
2,000 scientists who develop prod-
ucts to make hair shinier and
skin smoother.
Mr. Owen-Jones rejects the no-
tion that the industry "puts hope
in a jar." He prefers to think of
cosmetics as "high technology in
ajar."
A pretty model and an attrac-
tive sales campaign can persuade
7 a woman to buy a product once,
he says, but quality is essential
for loyal customers.
With a choice of eight stock, bond and money
market portfolios plus a guaranteed account,
you can select whatever suits you best. As your
investment needs and objectives change, so
can your portfolio selections. INVESTMENT
CHOICES AND LIFE INSURANCE PRO-
TECTION — THAT IS WHAT VARIABLE
UNIVERSAL LIFE IS ALL ABOUT!
Cash values grow tax-deferred and the
insurance benefit can be paid tax-free to your
beneficiary. Options include dollar cost
averaging, automatic asset rebalancing, and
zero-spread loans.
Fine Clothing,
Furnishings
and
Shoes
Allen
almon( Is
Johnston & Murphy.
COLE HAAN
throughout
the store
Chubb Securities Corporation
selected merchandise only
Martin Reisig, Branch Manager
19111 West Ten Mile Road
Suite 112
Southfield, MI 48075
(810) 355-5220
•• • • • • • • • • • • • • • • • • •
e are trying
to build a
business.
W
Service focused on your needs
VUL policy form 86-01 is distributed by Chubb Securities Corporation and underwritten
by Chubb Life Insurance Company of America. For more complete information, including
charges and expenses, call fora prospectus. Read it carefully before you invest or send
money.
Lindsay Owen Jones
1090 S. Adams, Birmingham
The cosmetics industry, and
L'Oreal in particular, has gener-
ally been less affected by the
roller coaster of world economies
than other industries have.
"Our industry is not recession-
proof, but it has been recession-
resistant," Mr. Owen-Jones says.
"We at L'Oreal have had consis-
tent growth over the past years,
despite the recession. That has
been to a great extent because we
have increased our share of the
world's markets by developing in-
novative products.
"When you have something
new and genuinely different,
whatever the economic situation,
women will buy it." 11]
Israel, Morocco
Make First Deal
Pama Energy Resources Devel-
opment of Israel will sell know-
how and technology to Morocco
for providing electricity, the firm
said.
Pama said the deal with the
Office National de l'Electricite de
Maroc was the first agreement
between an Israeli and Moroccan
company.
U.S. Firm
Buys Kelistrom
Rada of Israel will sell subsidiary
Kelistrom to U.S.-based firm
ITAC for $9 million, the compa-
ny announced.
The Miami-based Kelistrom is
active in the purchase and sale of
commercial aircraft motor com-
ponents.
ITAC (Israel Technology Ac-
quisition Corporation) is a pub-
licly traded company.
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FINAL WINTER
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639