web analytics
September 2, 2014 / 7 Elul, 5774
At a Glance
News & Views
Sponsored Post
Jerusalem Mayor Nir Barkat (L) visits the JewishPress.com booth at The Event. And the Winners of the JewishPress.com Raffle Are…

Congratulations to all the winners of the JewishPress.com raffle at The Event



Angry Israeli Investors, Consumers Gearing Up For New Protests

JERUSALEM – Expect to see new rounds of protests by Israeli investors and consumers against financially strapped business leaders and supermarket chains and food conglomerates that have raised prices drastically on basic foodstuffs over the past few months.

The frustration among local investors and consumers comes against the backdrop of a slowing Israeli economy, which is feeling the effects of the economic turmoil within the European Union. According to financial sources, the Israeli economy, which grew by nearly 5 percent last year, will grow at a rate of less 3 percent in 2012.

Israeli economists have speculated that the resignation of Bank Leumi CEO Galia Maor, who announced on Monday that she was stepping down after 17 years at Israel’s second largest bank, was a telltale sign that the Jewish state’s economy was entering a period of uncertainty.

In just the past few weeks, leading Israeli financial publications reported that local and foreign business owners in the EU owe tens of billions of dollars to Israeli banks including Bank Hapoalim and Bank Leumi. Bank of Israel Chairman Stanley Fischer has assured the Israeli public that local banks were fiscally sound despite the outstanding debts.

But Israelis are growing increasingly impatient and angry with moguls such as Yitzhak Tshuva (Delek Corporation), Ilan Ben-Dov (Tao Tsuot Ltd./Partner Communicatons) and Yossi Maimon (Ampal Corporation), who’ve lost billions of shekels through bad investments and have asked public and private corporate bondholders to forgive large portions of their debts.

An increasing number of Israelis who’ve invested in corporate bonds and stocks have threatened legal action against the tycoons unless they invest large sums of their personal money to cover their debts and agree to cease using corporate monies to provide stratospheric salaries and other perks to business associates and family members.

Meanwhile, prices on basic foodstuffs such as mayonnaise, tea, ketchup, tuna fish and soup mixes at major supermarkets such as Shufersal, Mega and Rami Levi have risen between 60 and 150 percent since the end of the Rosh Hashanah/Sukkot holiday season in October.

Bnei Brak social activist Yitzchak Alrov, who last summer spurred a nationwide protest against skyrocketing cottage cheese products via a simple Facebook campaign, is working with student leaders and other social justice activists to orchestrate another boycott unless the supermarkets and food conglomerates substantially cut their prices.

About the Author:


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Angry Israeli Investors, Consumers Gearing Up For New Protests”

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
Police set up roadblocks throughout the Sharon region and beyond to track down terrorists believed to have infiltrated the area.
Arab Terrorist Attack Foiled Near Netanya
Latest News Stories
Cannabis Greenhouse

A farmer in the (legal) Tikkun Olan Cannabis farm near Tzfat. This is one of their greenhouses. The company is licensed by Israel’s Ministry of Health to grow, process and distribute the medicinal plant.

Police set up roadblocks throughout the Sharon region and beyond to track down terrorists believed to have infiltrated the area.

Israeli intelligence sparked a massive manhunt that foiled an Arab terror attack, caught two suspects and kept Israeli civilians safe.

Former PM Ehud Olmert at Tel Aviv District Court hears his sentence on May 13, 2014. (archive)

The ‘Talansky affair’ corruption trial of former Israeli Prime Minister Ehud Olmert re-opened today in Jerusalem.

Effective range of the Iranian Shahab-3 missile.

Iran has successfully tested a new defensive radar and missile system, its air force chief announced Monday.

Diplomatic relations with Israel are likely to remain in deep freeze for the next few years, Turkish PM Davutoglu signals.

Events on the other side of Israel’s northern border are heating up. The IDF is on high alert in the Golan Heights.

Germany and other western countries have begun providing weapons to Kurds in fight against the IS.

Sept. 1 is a spectacularly important day in Israel.

BDS will be claim victory, but the truth is that a logistics would be a major factor if SodaStream leaves Maaleh Adumim.

The body of 1st Sgt. Shachar Shalev was laid to rest this afternoon in the cemetery in Hipsin.

Palestinian Authority terrorists wounded a three-year-old girl and a bus driver in two separate rock throwing and firebombing attacks on Monday. Both victims suffered light injuries and were treated on the spot, without need for hospitalization. The girl was riding a bus in northern Jerusalem when the attackers smashed a glass window on the bus. […]

“He was part hippie, part yippie, part beatnik, and part New Age,” – Elli Wohlgelernter in a Jerusalem Post eulogy in 1994.

Palestinian Authority manipulation of the media makes it impossible for peace between PA Arabs and Israelis.

“I know that you spent your vacation doing things not according to what you planned,” the prime minister told students in southern Israel.

The recent war in Gaza is not expected to inflict any lasting damage on economic performance.

More Articles from Steve K. Walz
: Israeli soldiers leave Gaza late Monday. A three-day cease-fire brokered by Egypt put an end, at least temporarily, to the fighting. See story, above.

As of Tuesday, all IDF forces operating in Gaza withdrew and redeployed to holding positions around Gaza.

Walz-080114-Map

The operation against the tunnels is a first and necessary step in the demilitarization of the Gaza Strip.

The sophisticated cement tunnels, which cost hundreds of millions of dollars, were reportedly built with Qatari government funds.

Israeli Prime Minister Benjamin Netanyahu told the nation on Tuesday afternoon that if the rocket fire did not stop by Tuesday evening, he would order “an even harsher” military response.

“They were abducted and murdered in cold blood by human animals,” Netanyahu said shortly after the bodies were found.

Awad had been released as part of the Gilad Shalit kidnapping deal. Mizrachi’s widow, Hadas, told Israeli reporters that she had opposed the release of murderers as part of any kidnapping deal, and that Awad “deserved the death penalty so he wouldn’t kill again.”

If the abductors’ goal was to force Israeli authorities to release long-serving Palestinian prisoners, the effort backfired as Israeli forces are quickly rolling up what was left of Hamas in the West Bank and are reportedly contemplating the overthrow of the Hamas leadership in Gaza should harm come to the three teenagers.

Netanyahu brushed aside Lapid’s political threats, saying that he was either too politically inexperienced or unaware of the true nature of the peace negotiations with Abbas.

Printed from: http://www.jewishpress.com/news/israel/angry-israeli-investors-consumers-gearing-up-for-new-protests/2012/01/04/

Scan this QR code to visit this page online: