web analytics
April 25, 2015 / 6 Iyar, 5775
At a Glance
News & Views
Sponsored Post


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.

Current Top Story
"Killing Jews is worship that draws us closer to Allah." That's his Jihad. What's yours? - An ad campaign sponsored by  the American Freedom Defense Initiative.
MTA Hopes to Change Rule, Ban ‘Killing Jews’ Anti-Jihad Ad
Latest News Stories
"Killing Jews is worship that draws us closer to Allah." That's his Jihad. What's yours? - An ad campaign sponsored by  the American Freedom Defense Initiative.

New York’s MTA plans to vote on a change to its rules it hopes would allow it to exclude the “Killing Jews” anti-jihad ad campaign.

Vice President Joe Biden.

Biden gleefully announced two of his three Catholic children married Jews – not thrilling his Jewish audience.

Armenian Archbishop Sevan (R) sits next to Greek Bishop Atallah, as they watch a live screening from Echmiadzin, Armenia, of the Church canonization of the genocide victims as saints, in the Armenian Quarter of Jerusalem's Old City.

In Jerusalem, the bells from 18 churches in the Old City of Jerusalem rang 100 times on Thursday evening, April 23, to remember the Armenian Genocide.

IDF soldiers - once upon a time.

The IDF has come up with an 81-second video showing 67 years of Israeli land, sea and ground soldiers in action.

Tennessee becomes the first state to formally condemn the BDS movement.

Snow fell in Tzfat (Safed) Friday morning, not enough to stick to the ground but enough to make residents wonder if they were dreaming or perhaps it is January. Several inches of snow fell on the Hermon as a rare mid-April storm faded away after blowing away Israelis’ Yom Ha’Atzmaut plans for cook-outs and hiking, […]

All polls show Clinton would win against any Republican, but has she peaked too soon?

Armenians marched with Armenian flags, signs, and torches from the Armenian Quarter of Old City as they mark the 100th anniversary of the Armenian Genocide, on April 23, 2015.

Iranian warships neared Yemen to support Houthi rebels despite the presence of US vessels in the area.

Poet Erez Biton, who was awarded the Israel Prize for Literature on Yom Ha’Atzmaut, used the occasion to warn against sponsors of the Boycott Israel movement. “Strident voices are being heard in the world including those who are challenging the very existence of the State of Israel,” he said. “There are even those among them […]

IDF tanks shelled a site in Gaza in response to the rocket(s) launched at Israel.

Cyber centers that guard unclassified networks reportedly detected the Pentagon security breach and kicked the hackers off “in a way that minimized their chances of returning.”

An American general says the US is facing a “national security” crisis over obesity among the nation’s youth.

10:22 PM Walla reports that according to an IDF source, 3 rockets were launched. At this point they do not think it was Hamas who launched them. 10:16 pm No specific terrorist group in Gaza has yet claimed responsibility for the rockets. 9:55 PM Reminder from the IDF: If you hear the Red Alert siren […]

The family of USAID development worker Dr. Warren Weinstein says they are “devastated” by the news he was killed in a CIA drone strike on Al Qaeda.

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: