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'97 BMW 318ti

Pots And Kettles
And Military Stockpiles

.• ,

'97 BMW 328ia

PINCHAS LANDAU SPECIAL TO THE JEWISH NEWS

he Israeli government is un-
derstandably unhappy
about the declared intention
of South Africa to sell
weapons systems to Syria. Israel
is exerting whatever direct and
indirect pressure it can muster in
a diplomatic effort to dissuade
Nelson Mandela from going
ahead with this sale.
On realpolitik grounds, it
makes perfectly good sense for
Israel to do whatever it can to pre-
vent Syria, or any other neigh-
boring country, from obtaining the
latest arms and military equip-
ment. On practical terms, it's
worth highlighting issues such as
whether Syria can and will pay
for what it buys - it certainly
owes the Russians plenty for its
Soviet stockpile.
But if the issue is presented in

'97 BMW 528ia

/

TH E D E TRO

80

4065 Maple
Just E. of Telegraph
Bloomfield Hills

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the context of morality, Israel un-
fortunately doesn't have a leg to
stand on.
Nobody knows the full extent
of Israeli military exports; the fig-
ures are covered up within the
overall data for Israeli exports, so
that any numbers bandied about
are estimates at best, guesses at
worst.
But the totals are certainly sig-
nificant at a macroeconomic lev-
el as well as to the key firms
involved - Israel Aircraft Indus-
tries, Israel Military Industries
and Rafael in the government sec-
tor, Tadiran, Elbit and others in
the private sector.
The reality Israel's diplomatic
isolation and the economies of
scale that govern the research-in-
tensive and very costly weapons
industry meant that sales were

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April 11

Change

Symbol

Name

Exchange

Feb. 28

SCIXF

Scitex

NASDAQ

9.43

7.25

ECILF

ECI Telecom

NASDAQ

'23.75

'21.00

TEVIY

Teva Pharm

NASDAQ

'61.91

'54.13

-7.79

IEC

PEC Israel

NYSE

'20.12

'18.62

-1.50

ELBTF

Elbit Computers

NASDAQ

2.37

2.13

ELT

Elscint LTD

NYSE

8.61

7.33

-1.29

ELRNF

Elron Electronics

NASDAQ

'12.84

'12.84

'0.00

TAD

Tadiran

NYSE

'27.61

'24.50

CMVT

Comverse

NASDAQ

'43.61

'39.33

ISL

First Israel Fund NYSE

'13.50

'13.13

-'2.18

Source: Allen Olender, Prudential Securities,
West Bloomfield.