•• •
PLAYING page 49
12 MONTH
CERTIFICATE
PHOTO BY GLENN TRIEST
, 5.75,
INTEREST RATE
5 .87%
A.P.Y./*
60 MONTH
CERTIFICATE
6 2,5%
6.39%
INTEREST RATE
A. P.Y./*
Scott Kaufman and Brian Siegel at Joe Dumars' Fieidhouse.
These are fixed rate certificates of deposit that are insured by Federal Deposit
Insurance Corporation (FDIC). A minimum opening deposit and balance of $500.00
is required to obtain the stated Annual Percentage Yield.
FIRST SECURITy
Cr
SAVI NGS BANK
"First in Service"
LENDER
CALL (810)338-7700 or (810)352-7700
Main Office 2600 Telegraph Rd. Bloomfield Mills, Mi 48302
*Annual percentage yield when compounded quarterly. Rate is accurate as of 8/18/95. Penally for early withdrawal from certificate accounts may be assessed.
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'Offered to qualified lessees by Primus Automotive Financial Services, Inc. through participating Rolls-Royce/Bentley dealers Subject to
availability. Price based on 36-month closed-end lease for a 1995 Rolls-Royce Silver Dawn sedan excluding optional equipment and special
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•
6251 Orchard Lake Road (In Sugar Tree) • West Bloomfield
FAX (810) 851.7176
(810) 851.7170
guests would rather shoot hoops
than do the bunny hop.
Mr. Siegel, an attorney, said
the Fieldhouse has booked over
60 bar mitzvahs for the next 21/2
years and has hosted corporate
events for over 1,000 people.
That's aside from the volleyball
and basketball exhibitions and
tournaments and regular chari-
ty events.
"It's been great. Since we
opened, we've had 12,000 differ-
ent pickup basketball players. We
are effectively sold out for (league)
roller hockey for our fall season,"
he said.
Unlike Oakland Yard, the
Fieldhouse offers indoor beach
volleyball and banquet facilities,
but it does not offer golf. Both
places offer individuals or exist-
ing teams the opportunity to use
their facilities or to join house
teams.
Their prices are comparable,
too. Oakland Yard charges teams
from $440 to $595 for multiweek
games. The Fieldhouse rents its
basketball and volleyball courts
for $45 to $65 per hour and its
hockey rink for $95 per hour.
Individuals can expect to pay
from $4 to $8 for pickup games at
either place.
But Mr. Siegel and Mr.
Greenspan don't consider each
other competitors.
"We're far enough apart that
we're drawing from different
markets," said Mr. Siegel. Places
that organize pickup games, like
the YMCA, Basketball City in
Macomb County and the Detroit
Social Club, are more worrisome,
he said.
Because of the wild popularity
of roller hockey — the sport
that is currently bringing in
droves of customers at both
facilities — Oakland Yard is com-
peting with U.S. Blades in West
Bloomfield.
But Mr. Greenspan considers
the movies, for example, more of
a rival.
"I consider any sort of leisure
time to be competition," he said.
"Whether it's a movie or going out
for a bike ride, it's something peo-
ple do in their free time. I con-
sider somebody down the street
with a basketball net in his yard
to be a competitor." ❑
Volvo Buys Stake
In Merkavim
Jerusalem — Volvo Bus Corp.,
the Swedish automobile manu-
facturer, has signed an agree-
ment in principle to purchase a
50-percent stake in Israeli bus
manufacturer Merkavim of the
Koor Group.
Both sides agreed to keep de-
tails of the transaction confiden-
tial.
Volvo will purchase a half
share in Merkavim at a price
based on a due-diligence evalua-
tion of the company to be per-
formed in the next few weeks.
The companies agreed that
Volvo will enter into a strategic
cooperation with Merkavim —
including providing know-how
and technical assistance, as well
as access to world supply sources.
The agreement is subject to ap-
proval and to the execution of a
detailed contract.
In an announcement to the Tel
Aviv Stock Exchange, Koor said
a new manufacturing plant will
be established in Or Akiva in
partnership with Volvo. Yitzhak
Zamir, chairman of the board of
directors of Merkavim, said the
new plant is designed to be one
of the most advanced in the world
for the manufacture of buses.
The plant's manufacturing ca-
pacity is expected to enable the
number of buses manufactured
in Israel to double.