Nothing like investing in real estate at a market high with a lot of leverage. Just ask former Israel billionaire Lev Leviev, as he continues his fire-sale of property to raise cash to help pay down his debts.
According to Globes: “Africa-Israel chairman Lev Leviev is continuing the sell-off of properties. Africa-Israel Investments Ltd. (TASE:AFIL) subsidiary Africa-Israel Properties Ltd.AFPR) has signed an memorandum of understanding (MOU) to sell 95% and half of the unused building rights of the Africa-Israel Tower in Tel Aviv to a group of foreign buyers for NIS 166.5 million. (TASE:
The company did not disclose the identity of the buyer.”
Let’s hope he is able to sell off enough properties to pay off bondholders.
Written by: Aaron Katsman | April 17, 2009
The 68 year old former teen idol, Paul Anka will be performing in Israel this summer. According to Ynet: “Sources in the music industry told Yedioth Ahronoth that Anka, 68, will hold at least one concert at Tel Aviv’s Mann Auditorium in August.
The Canadian-born singer first became famous in the late 1950s and 1960s with hits songs like “Diana”, “Lonely Boy”, and “Put Your Head on My Shoulder”. By the late 1960s he had sold over 100 million records.”
Whenever stars come to Israel it’s big news. It means that they aren’t scared off by the threat of terrorism or an Arab boycott.
Way to go Lonely Boy!
While few airline carriers can really admit to “loving to fly and it shows”, Delta Airlines has given some cheer back by lowering their fares from New York to Tel Aviv to $617, the lowest set fare ever on this route. The fares, which will be available only through the end of this week, apply to flights through the end of March. The new price reflects a $132 drop in fuel surcharges.
According to the Globes article:
Delta Airlines commercial director for Israel Esty Herskowicz said that the fare referred to a whole class, not to an allocation of seats. She added that seats were available at this price on most flights during the period of the campaign.
I guess Israel really sees some benefits when the price of oil plummets.
Aaron Katsman
www.IsraelNewsletter.com
Do you feel a chill in the air? Well if you do it’s because there is no more global warming. Now you will probably ask, “What do you mean there is no more global warming?”. After all former VP and nobel prize winner Al Gore said in an interview to 60 minutes (excerpt):
Confronted by Stahl with the fact some prominent people, including the nation’s vice president, are not convinced that global warming is man-made, Gore responds: “You’re talking about Dick Cheney. I think that those people are in such a tiny, tiny minority now with their point of view, they’re almost like the ones who still believe that the moon landing was staged in a movie lot in Arizona and those who believe the world is flat,” says Gore. “That demeans them a little bit, but it’s not that far off,” he tells Stahl.
So if the smug and pompous one himself declares that there is global warming, how can I say there isn’t? Well aside from the scientific fact that there isn’t, the real reason is that the citizens of the Israeli city of Tel-Aviv put an end to it last night. From 8-9pm local time Tel-Aviv turned out the lights. For one hour citizens were urged to turn off their lights in an effort to save energy, and help limit damage to planet. There was even an “unplugged” concert attended by tens of thousands of people, and whatever power was needed was generated by bicyclysts peddling away and generating energy.
It was just beautiful, everyone sitting around in the dark, really making a difference. As an old fashioned male, I tend not to display my emotions in public. But after this event, I just couldn’t keep it in. I must admit it, I shed a tear.
The planet has been saved.
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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
