AUDETTE

Swiss Army
Awards Contract

Jerusalem (JPFS) — Switzer-
land has awarded a $115 million
contract to Israel Aircraft In-
dustries' Elta division for a com-
munications intelligence system.
The Elta system will enable the
Swiss to detect, intercept, and
analyze communication traffic.
The Swiss Army will use the
equipment as part of its mod-
ernization program.

Analysts, Wall St.
Show Skepticism

Jerusalem (JPFS) — Capital-
market analysts in Tel Aviv say
Wall Street will adopt a more "se-
lective" attitude toward Israeli
high-tech share offerings in 1997.
Roughly half of the Israeli
shares currently traded on
American markets will end 1996
below their initial issue price,
while the remainder are expect-
ed to complete the year slightly
higher.
The New York Times ranked
Israeli-based Vocaltec and Logal
Educational Software Systems
among the 10 worst issues in the
United States, based on the
stocks' returns by Dec. 17, 1996.
Analysts forecast the Ameri-
can market will remain recep-
tive to Israeli companies next
year but will focus on mature
technology companies. Over the
past two years most Israeli of-
ferings were issued by high-tech
start-ups.
American investors still value
Israeli high-tech companies but
realize they lack management
and marketing abilities, says

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Tami Gottlieb, general manager
of the Israeli branch of the Oscar
Gruss investment house.
American investors, she said,
will focus on Israeli companies
with a track record of two or
three years which have com-
pleted at least two rounds of pri-
vate financing before going
public.

Bank Of Israel
Governor Dies

Leather
Loaded

No
Payments

Jerusalem (JPFS) — Former
Bank of Israel Governor Michael
Bruno died in Jerusalem, fol-
lowing a long illness. He was 64.
One of Israel's best-known
economists and widely accepted
as the leading planner behind Is-
rael's pivotal 1985 economic sta-
bilization plan, Mr. Bruno was
until recently the vice president
and chief economist of the World
Bank.
He served as Carl Melchior
Professor of International Eco-
nomics at the Hebrew Universi-
ty and was a winner of the Israel
Prize.
Mr. Bruno chaired the eco-
nomics department of Hebrew
University before going to work
for the Bank of Israel.

Jerusalem (JPFS) — The local
cement market "has no room" for
another major producer, sources
in the industry said in response
to reports that a large Japanese
conglomerate wants to build a
cement plant in Israel a cost of
$250-$300 million.

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"I"

•

8 Stk# D7204

Disclaimer: Leasee responsible for use tax, lyx tax, plates, excess wear and tear. Excess mileage.15e/mile. Leasee must qualify for GM
Opt II discount & lease renewal rebate. Lease is a 12 month/12,000 mile Smart Lease plus.

No Plant
For Japanese

Ft P. CI IR

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E

AUDETTE

851-7200

7100 Orchard Lake Rd. • WEST BLOOMFIELD, MICHIGAN 48322 • Telephone: (810) 851-7200

Detroit's Premiere Custom Clothier Since 1949

271 litettif C

V

EBizatit gatt

David Simon, chairman and
one of the founders of Franklin
Bank, was named "Business Per-
son of the Year" by the Birming-
ham-Bloomfield Chamber of
Commerce for his dedication to
public service. He was honored
at the Chamber's annual dinner. ,

The Remodelers Council of the
Building Industry Association of
Southeastern Michigan will host
an educational seminar on the
Solid Surface Industry, 5:30-
8 p.m. Thursday, Jan. 16, at BIA
Headquarters, 30375 North-
western Highway, Farmington
Hills. To register, call (310) 737-
4477.

The Eastern Michigan Chapter
of the American Association of
Individual Investors will hold a
public meeting, 7 p.m. Tuesday,

Jan. 21, at the Bloomfield Town-
ship Library. David Wanetick
will speak on Market Maneu-
vers on the Information Su-
perhighway. To register, call
(810) 683-5137.

Ronald N. Silberstein, CPA
and member of the Farmington
Hills accounting firm of Hirsch
and Silberstein, PC, has been ap-
pointed to the 1997 National Ath-
letic Awards Committee.

Lisa J. Leebove, daughter of
Terry and Linda (Lober) Lee-
bove, former Detroiters of Scotts-
dale, Ariz., graduated cum laude
from the University of Califor-
nia, Hastings College of Law; she
will join the Los Angeles office of
Skadden, Arps, Slate, Meagher
and Flom as an associate in the
real estate department.

(810) 646-0535

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