According to yesterdays Jerusalem Post, Jewish American millionaire Bill Davidson has decided to donate a quarter billion shekels to rebuild a glass factory near Zippori in the Galilee that was damaged during the recent Lebanon war. Finance Minister Avraham Hirchson, speaking at a press conference on Tuesday, called the investment “proof of the stability of Israel’s economy.”
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4 Responses
is it a donation or investment? if its an investment it makes sense. If its a donation than why donate to glass when people are starving or at poverty levels in israel???
Because employment is the highest level of Tzedaka, and this will help people who are used to working for their livelihood.
Give a man a fish, you have given a meal; give him a fishing rod and you have given him a means of self-support!
Clearly an investment – Hirschson would not be involved if it were a gift. It will allow people in the North, which was always a poor area, to return to work and might allow the factory to hire more people.
“The plant, located in the northern Israeli town of Tzipori, will be owned and operated by Phoenicia America Israel (Flat Glass), an Israeli glassmaker [William Davidson] acquired about 18 years ago. Davidson will spread the investment over three years, by which time the plant will be at full capacity, employing 340 people, with sales of $120m. Most of the output will be for export.” (from the search archives of the Jpost).
Thanks for the info itzik-s. also sroy you are 100% correct. What got me was the fact that hirschson said “proof of the stability of Israel’s economy.�? if someone would be making a donation they would not say it proof of the economy they would say how wonderful it is to restore jobs and parnasah to families no matter what the economy is.
Does any one know why israel doesnt pay for the factory since it happened during war time?