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Israel's inflationary genius is looking forward to the impact of
Bill Davidson's business school.

PHOTOS BY DANIEL LIPPITT

ALAN ABRAMS SPECIAL TO THE JEWISH NEWS

Yitzhak Modal: Seeing
economic progress.

sraelis are surprisingly poor business
administrators, although brainpower
is the country's major export.
That was the message a former Is-
rae finance minister carried to Southfield
last week.
Yitzhak Modai, who in the first of his two
terms heading the finance portfolio reduced
Israel's inflation level from 430 percent to
below 20 percent in just one year, spoke to
the Detroit chapter of the American Tech-
nion Society on March 14. He later met with
William Davidson, the owner of Guardian

Industries, and the impetus behind the
forthcoming School of Business Adminis-
tration at Technion University.
The thrust of Mr. Modal's message is that
Israelis seeking degrees in business ad-
ministration will no longer have to go abroad
for advanced study once the school is oper-
ational. Technion engineering students and
graduates will also be able to expand their
educations without leaving the campus.
Faculty are already being selected,.and
the school, which will offer a master's of busi-
ness administration, may be admitting its
first students within 18 months, said Mr.
Modai. "The school is essential for Israeli

economic leaders, and Technion produces
these leaders at least from the engineer-
ing point of view."
Mr. Modal is a graduate of Technion with
a degree in chemical industrial engineering.
"Technion occupies a very special position
in the Israeli economy, because the Israeli
economy is based to a very large extent on
brains, and not on mineral resources. It is_
technology that drives the exports. And the
brains that one turns directly into exports
and money are the technical brains.
"This is what Technion produces for the
State of Israel. Technion is fueling the eco-
nomic boom that is going on in Israel in high-

