PROGNOSTICATORS page 55 24 MONTH CD 6.25% ANNUAL PERCENTAGE YIELD Here a yield you cant pass up. • $500 minimum opening deposit • Interest compounded quarterly 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 1-6-97. EARN HIGHER YIELDS! 4.75 You're never too old to quit blowing smoke. Ct. ) V P American Heart Association LLJ VISIT ONE OF OUR LOCATIONS NEAR YOU! Sterling BERKLEY • (810) 546-2590 BIRMINGHAM • (810) 646-8787 CLAWSON • (810) 435-2840 I- bank &trust C) CC 1-- LJJ D LL 50 Mill Floor COVERINGS ROCHESTER • (810) 656-5760 SOUTHFIELD • (810) 948-8799 W. BLOOMFIELD • (810) 855-6644 We create solutions."® IB C Yitzhak Kaul is leaving Israel's telephone company after leading it through the turbulent waters of privatization, competition and globalization. ANNUAL PERCENTAGE YIELD EFFECTIVE AS OF 11/15/96. RATES SUBJECT TO CHANGE WITHOUT NOTICE. 'MONEY MARKET: $2,500 MINIMUM BALANCE REQUIRED. STATEMENT FEES MAY REDUCE EARNINGS IF MINIMUM BALANCE IS NOT MAINTAINED. n 1984, when, I first inter- viewed Yitzhak Kaul, then an Israel Communications Min- istry deputy director-general finalizing details for the estab- lishment of Bezeq, Israelis wait- ed about a decade for a new telephone line, faced annoying busy signals while dialing from Jerusalem to Tel Aviv, and reg- ularly received erroneous bills for service that included discon- nected calls and interference on the line. Now — as Mr. Kaul prepares to leave Bezeq (in April) after having led it for six years — I called 199 and ordered an additional phone line for my computer modem, taking advan- tage of the half-price Chanukah sale. An operator informed me in- stantly of my new number, and suggested the technicians would I Apy WERE FIGHTING FOR TOUR LIFE LL You Rang? JUDY SIEGEL-ITZKOVICH SPECIAL TO THE JEWISH NEWS 1,1011EY MARKET* Cr) depending on which years you're months — already, which is an, looking at. unusually long period. "And if that slowed down to "People begin to feel, well, virtually zero, where do you go maybe the business cycle is from there? What replaces it? gone, its dead. That's not true. And if nothing comes along to re- But there's going to be another place it, the economy behaves recession coming sooner or lat- very differently." er. How soon, no one knows. We Dr. Mordechai E. Kreinin of all hope and expect that its not Michigan State University's De- going to happen this year. But partment of Economics in East at some point, it will happen." Lansing, follows a different pro- The office of Allen C. Good- cedure in making his forecasts. man, currently on sabbatical as,--' "The method I use very often chairman chairman of the Economics De- is to ask the following question: partment at Wayne State Uni- Is there any reason to expect a versity, appropriately is close to very substantial change from the Fisher and General Motors current conditions? And we all buildings. Dr. Goodman is an ad- know what the current condi- vocate of the theory that what tions are, that's what existed a happens economically national- quarter (three months) ago. ly affects what goes on in south- "You don't come up with pre- east Michigan. "If the national cise forecasts, and the forecasts economy grows, it will have an are not really inevitably precise impact effect on our region," says anyway, but you come up with Dr. Goodman. "And for the Mid- an assessment. There is still a west and southeast Michigan, very large element of judgement. the significant factor is the pre- Things can change for unex- ponderance of manufacturing. pected reasons." "In a certain gross way, from Both Dr. Kreinin and Dr. Hy- quarter to quarter, one can pre- mans agree that economic con- dict pretty accurately what the ditions are good, and that the measures will be," he says. "But economy is doing well. "That's really, we're better at predict- obviously why the president got ing what happened already. re-elected," says Dr. Kreinin. "It is fairly sensible to predict--\ "It's doing well on both the un- that Michigan's economy will be employment front and on the in- related in a large part to auto- flation front." motive and automotive-related But he cautions this does not industries. And as they are cycli- mean that we've solved the busi- cal, so will the Michigan econo- ness cycle problem. "This par- my be cyclical. ticular expansion that we're in "How big these cycles will be now has lasted since 1991, so - is anybody's guess." ❑ were talking five years — 60 (810) 738-6554 2380 Orchard Lake Road just E of Loading Dock Plaza, Sylvan Lake call me at work one hour before the scheduled appointment, so I could get home and open the door without wasting time waiting around the house. They did as promised, installed the line efficiently, and when they heard I knew 'Yitzhak Kaul, said how much they would miss him.,± Mr. Kaul's departure from semi-privatized Bezeq to join the private sector as managing di- rector of the Clal-Israel holding company has caused many peo- ple to reflect on the scope, depth and meaning of Israel's telecom revolution, where he has played a pivotal role. Under his direc- tion, Bezeq transformed from an infamously ill-equipped and clis- c—/ organized telecom provider into a service-oriented, high-tech com- pany prepared to fight for cus- tomers in an increasingly competitive environment.