3 0
THESE NUMBERS REALLY ADD UP.
of Israel's 100 largest companies
are led by Technion graduates.
33 %
s29
Courtesy State of Israel Bonds
ISRAEL BOND
of Israeli companies on NASDAQ
are run by Technion graduates.
NATIONAL LEADERS ((INFERENCE
billion:
the market value of Israeli companies
headed by Technion graduates.
years
0
of Technion breakthroughs
for Israel and the world.
Support the Technion. Secure Israel's future.
Three years after independence, David Ben-Gurion proposed the idea of State
of Israel Bonds as a way to spur economic growth.
Email: detroit@ats.org I Call: (248) 737-1990
American
Jo Strausz Rosen, Director
Technion 30230 Orchard Lake Road, Suite 155
Society
Nation Building
Farmington Hills, MI 48334
www.ats.orelsraelat60
138E390
Bonds keep Israel on firm ground.
James S. Galfund
Special to the Jewish News
0
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CongratuCations
State of Israel
on your
6oth Anniversary!
Mark Kowalsky Carol Rosenberg Barbra Giles, uvisw, ACSW
President
Executive Director
Administrator
Officers and Board of Directors
Will Asti How & AGING SERVICES
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tWiSke'
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ed=tiOn
*cr. PIOT OF TOW IL:.
A46 May 15 • 2008
iN
n May 15, 1948, Prime
Minister David Ben-Gurion
declared the birth of the
modern Jewish nation. Three years
later, Ben-Gurion declared the birth of
the enterprise that would ultimately
transform the new nation — State of
Israel Bonds.
State of Israel Bonds represents the
familiar name of the underwriter for
Israel bonds in the United States as
well as the bonds themselves.
Last fall, in reflecting on Israel
Bonds' legacy, Israeli President Shimon
Peres said, "Israel Bonds was Israel's
first experience in embarking on eco-
nomic growth and building a proper
infrastructure. Wherever you go today
there are traces of Israel Bonds."
The Israel Bonds success story
was born in the wake of the War of
Independence. The war had taken
a terrible toll in casualties and the
nation's fledgling economy was dev-
astated.
Compounding the dire situation was
the fact that Israel faced complex eco-
nomic demands, including develop-
ment of a national infrastructure and,
most especially, the daunting challenge
of resettling hundreds of thousands of
new immigrants.
With Israel financially over-
whelmed, Ben-Gurion turned to the
diaspora for help. In September 1950,
he convened a meeting of American
Jewish leaders at the King David Hotel
in Jerusalem, where he proposed issu-
ing bonds to provide Israel with a
more secure economic footing.
Ben-Gurion's idea was two-fold: to
obtain millions of dollars in develop-
ment capital and to engage diaspora
Jewry in the building and development
of the new Jewish state.
Ben-Gurion's plan received a
positive response, and, the follow-
ing spring, he traveled to New York
to personally launch the inaugural
Independence Issue of Israel bonds at
a Madison Square Garden rally.
Expectations for first-year sales
were $25 million. Instead, final results
for 1951 more than doubled the most
optimistic projections, exceeding $52
million.
Building The Nation
Proceeds from the sale of Israel bonds
gave Israel the means with which
to solidify its post-independence
economy. Key projects included the
National Water Carrier, enabling agri-
cultural self-sufficiency; the Dead Sea
Works, Israel's first major industrial
undertaking; port development and
expansion in Ashdod, Haifa and Eilat;
and the Hadera power plant, which
addressed crucial energy needs.
Said Israeli leader Golda Meir of
those early years: "The central role in