12 MONTH CD
revenues. From China to South
Africa to Uruguay to Manila —
future home to the world's largest
casino — few governments can re-
sist the temptation gambling of-
fers.
The United States, too, has re-
cently seen a marked acceleration
in the gambling industry's
growth. Eighteen years ago,
Nevada was the only state with
casinos and only 14 states had lot-
teries. In 1990, three states had
casinos, and just four years later
the number had trebled and lot-
teries had spread to 37 states.
Revenue from casinos alone now
totals more than $16 billion in the
United States, where Americans
bet nearly $500 billion yearly.
Everywhere, including on Is-
rael's streets, the dream lives:
Wake up a regular Joe, go to bed
a millionaire.
6. 1 3%
representatives of the Phoenix
group regarding the purchase of
one of its subsidiaries.
A Koor spokesperson confirmed
the company is checking out the
possibility of entering the insur-
ance field, but refused to elabo-
rate.
Koor Seeks
Insurance Stake
Jerusalem (JPFS) — Koor In-
dustries, Israel's largest holding
company, is considering pur-
chasing a major stake in an in-
surance company as part of its
strategy to increase its activities
in the financial services sector.
Sources in the insurance in-
dustry said Koor is considering
several possibilities, including a
major investment in a foreign
company. The source emphasized
Koor is still in the preliminary
stage and has not yet entered ne-
gotiations.
According to Ma'ariv, Koor
CEO and President Benny Gaon
has already met with the Green-
berg family, the owners of the
American Insurance group which
intends to increase its insurance
business in Israel. It was also re-
ported that Gaon has met with
ANNUAL
PERCENTAGE
YIELD
Indigo Tries
To Offset Losses
Jerusalem (JPFS) — Indigo an-
nounced it had raised $100 mil-
lion in private offerings after
suffering $40.5 million in losses
for 1995 and disclosing corporate
restructuring plans that include
the laying off of 240 employees.
The Israeli market seemed
unimpressed with the company's
plan, as Indigo shares fell from 16
to 13.875 in trading on Nasdaq.
The Dutch company, with re-
search and development facilities
in Rehovot, had been out of touch
with its customer base. As part of
the company's restructuring pro-
gram, a new president, Wayland
Hicks, was hired, and the man-
agement - team was relocated from
Israel to Europe and the United
States, where the bulk of - the com-
pany's customers are located.
In addition to focusing on
greater customer relations, the
company's restructuring plan will
result in a decrease of approxi-
mately 25 percent in ongoing op-
erational expenses and more than
20 percent of the company's staff
These layoffs are the second
such cuts the company has made
in the last six months and will af-
fect employees across the board,
although fewer cuts will be made
in the research and development
divisions.
More than half the layoffs will
be made in the company's Israel
offices.
Here a yield you can't pass ups
• $500 minimum opening deposit • Interest compounded quarterly
Oakland
Commerce Bank
Member FDIC
31731 Northwestern Hwy. • Farmington Hills, MI 48334 • 810-855-0550
Rates subject to change without notice. Substantial penalty for early withdrawal.
Annual Percentage Yield is effective as of 5-10-96.
1.7r..7
S
7HIRT
BOX_
DESIGNS IN DECORATOR
LAMINATES, LTD.
Men's furnishings and accessories
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
19011 West Ten Mile Road
Southfield, Michigan 48075
(Between Southfield and Evergreen)
352-1080
Hours: Mon.-Sat. 9:30 a.m.-6 p.m. .
Thursday 9:30 a.m.-7 p.m.
PARKING AND ENTRANCE IN REAR
Change
April 26
May 3
'21.75
'19.25
ECI Telecom
NASDAQ/NM '27.25
'26.12
TEVIY
Teva Pharm
NASDAQ
'45.50
'44.62
!EC
PEC Israel
NYSE
'22.74
'22.37
ELBTF
Elbit Computers
NASDAQ
'17.50
'19.62
ELT
Elscint LTD
NYSE
'14.87
'14.62
-'0.25
ELRNF
Elron Electronics
NASDAQ
'10.50
'11.50
+51.00
TAD
Tad i ran
NYSE
'21.87
'23.00
+1.13
CMVT
Co mverse
NASDAQ
'24.25
'24.50
+s0.25
ISL
First Israel Fund NYSE
'12.00
'12.00
+'0.00
Symbol
Name
Exchange
SCIXF
Scitex
NASDAQ/NM
ECILF
-1.13
WE SHIP
FURNITURE
+52.12
"""1 :flimit; tglhif
IP NM
Source: Allen Olender, Prudential Securities,
West Bloomfield.
`44101
IT DOESN'T HAVE TO COST A FORTUNE...ONLY LOOK LIKE ITI
FEATURING
• Wall Units
• Bedrooms
• Dining Rooms
• Credenzas
• Tables
• Offices
SPECIALTIES
• Formica
• Woods
• Stones
• Glass
• Lucite
ANNONZED
SHIMKG
MUT
LOIS HARON
680-0993
Allied Member ASID
American
CLASSIFIED
GET RESULTS!
Call The Jewish News
354-5959
851-6989
Fireplace Distributors
..dgo
Steve Brown
SALES, SERVICE &
INSTALLATION
10662 Northend
Oak Park , Michigan
Tel, (810) 547-6777
Fax (810) 5476678