DOCSLIB.ORG

Alon Blue Square Israel 2015 Form 20-F

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Alon Blue Square Israel 2015 Form 20-F 5/19/18, 948 AM 20-F 1 v439022_20f.htm FORM 20-F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ! REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2015 OR ! TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ OR ! SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report ________ Commission file number 1-14426 ALON BLUE SQUARE ISRAEL LTD. (Exact name of Registrant as specified in its charter) Israel (Jurisdiction of incorporation or organization) Europark Yakum, France Building, Yakum 6097200 Israel (Address of principal executive offices) Zehavit Shahaf, General Counsel and Corporate Secretary Tel: (972)-9-9618504; Fax: (972)-9-9618636 (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act. Name of each exchange on which Title of class registered American Depositary Shares, each representing ten Ordinary New York Stock Exchange, Inc. Shares (1) Ordinary Shares, par value NIS 1.0 per share (2) New York Stock Exchange, Inc. (1) Evidenced by American Depositary Receipts. https://www.sec.gov/Archives/edgar/data/1016837/000114420416101399/v439022_20f.htm Page 1 of 411 5/19/18, 948 AM (2) Not for trading, but only in connection with the listing of the American Depositary Shares. Securities registered or to be registered pursuant to Section 12(g) of the Act: None (Title of Class) Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None (Title of Class) https://www.sec.gov/Archives/edgar/data/1016837/000114420416101399/v439022_20f.htm Page 2 of 411 5/19/18, 948 AM Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 65,954,427 Ordinary Shares, par value NIS 1.0 per share Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ! No ⌧ If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act 1934. Yes ! No ⌧ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ⌧ Yes ! No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ! Yes ! No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one): Large Accelerated filer ! Accelerated filer ! Non-accelerated filer ⌧ Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAP ! International Financing Reporting Standards as issued by the International Accounting Standards Board ⌧ Other ! If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ! Item 18 ! If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ! No ⌧ https://www.sec.gov/Archives/edgar/data/1016837/000114420416101399/v439022_20f.htm Page 3 of 411 5/19/18, 948 AM https://www.sec.gov/Archives/edgar/data/1016837/000114420416101399/v439022_20f.htm Page 4 of 411 5/19/18, 948 AM INTRODUCTION Unless otherwise indicated, as used in this Annual Report, (a) the term “Alon Blue Square” or the “Company” means Alon Blue Square Israel Ltd., (b) the terms “we,” “us” and “our,” mean Alon Blue Square and its consolidated subsidiaries, (c) “BSRE” means Blue Square Real Estate Ltd., a corporation of which we held 53.92% of the outstanding shares as of March 31, 2016, and the balance of whose shares are publicly held and traded on the Tel Aviv Stock Exchange, and its subsidiaries, (d) “Dor Alon” means Dor Alon Energy In Israel (1988) Ltd., a corporation in which we held approximately 63.13% of the outstanding ordinary shares as of March 31, 2016, (an additional 8% is held by our controlling shareholder, Alon Israel Oil Company Ltd., or Alon) and the balance of whose shares are publicly held and traded on the Tel Aviv Stock Exchange, and its subsidiaries, (e) “Naaman” means Naaman Group (NV) Ltd., a corporation in which we held approximately 77.51% of the outstanding ordinary shares as of March 31, 2016, and the balance of whose shares are publicly held and traded on the Tel Aviv Stock Exchange, and its subsidiaries, (f) “Bee Group” means our wholly-owned subsidiary, Bee Group Retail Ltd., and (g) “Mega Retail” a corporation currently operated through court-appointed trustees, in which we hold 100% of the outstanding shares; we undertook to transfer 33% of Mega Retail's share capital (either by way of issuing new shares of Mega Retail or by our transfer of Mega Retail's shares held by us) to an Israeli corporation to be formed by the employee union of Mega Retail. On January 17, 2016 the Lod District Court appointed trustees for the operation of Mega Retail following Mega Retail's motion for stay of proceedings. We are a holding company which operates in three reportable operating segments (two as discontinued operations). In our BSRE segment, we own, lease and develop yield-generating commercial properties and projects. In our Dor Alon segment, which is held for sale we operate a chain of filling stations and convenience stores in different formats in Israel, and we are considered to be one of the four largest fuel retail companies in Israel based on number of petrol stations and is a leader in the field of convenience stores. In our Naaman segment (operated through Bee Group), which is also held for sale, we operate specialist outlets in self-operation and franchises and offer a wide range of houseware and home textile products as a retailer and wholesaler in the houseware and home textile markets. In addition, we have another operation that consists of Bee Logistics Service Center Ltd., our wholly-owned operator of a logistics center, which provides services to Naaman as well as third party activities. Mega Retail is currently operated by court-appointed trustees and according to reports of its trustees owns 127 supermarkets under different formats. Mega Retail is designated for sale by its trustees. The financial results of our Dor Alon and Naaman segments have been presented as discontinued operations because they consist of activities designated for sale by us, and the financial results of Mega Retail have also been deconsolidated due to our loss of control of Mega Retail. 3 https://www.sec.gov/Archives/edgar/data/1016837/000114420416101399/v439022_20f.htm Page 5 of 411 5/19/18, 948 AM Please note that unless otherwise indicated, as used in this Annual Report, the term “Ben Moshe Proposal” shall mean the proposal made by Mr. Moti Ben Moshe from February 15, 2016 and the clarifications to the proposal requested by Alon and Alon Retail Ltd., which includes, among others, that in consideration for NIS 115 million to be paid to Alon and Alon Retail Ltd., Mr. Ben Moshe would purchase (through a company under his control) the holdings of Alon and Alon Retail Ltd. in the Company on AS IS basis, and the rights and obligations of Alon to a bridge loan of NIS 110 million extended to the Company by Alon, including the right to allocate our shares against such bridge loan, and the rights and obligations in another loan subordinated to financial debt of NIS 60 million extended to us by Alon. In addition, the Ben Moshe Proposal includes an outline for the repayment of our financial debt (NIS 924 million). The debt repayment would include the injection of up to NIS 900 million into the Company for the full repayment of the financial debt to our financial creditors, of which NIS 200 million can be designated for the acquisition of Mega Retail by the Company or a company controlled by Ben Moshe (the identity of the acquiring entity will be determined by court) free and clear of all claims, provided Mega Retail will be acquired directly by the Company. On February 28, 2016, an acceptance notice to the Ben Moshe Proposal, subject to conditions, was issued by Alon and Alon Retail Ltd. (holding, in the aggregate, approximately 72.21% of our shares). On May 8, 2016 we filed a motion with the District Court in Lod, Israel to convene meetings of our financial creditors and shareholders for approval of a debt settlement based on the Ben Moshe Proposal (the “Debt Settlement”) under Section 350 of the Companies Law (the “Motion to Convene Creditors Meeting”).
Load more

Recommended publications
  • PAZ OIL COMPANY LTD. 2015 Annual Report
    PMdesigners LTD. OIL COMPANY PAZ 2015 Annual Report .... PAZ OIL COMPANY PAZ OIL COMPANY LTD. Euro Park, Holland Building 2015 Annual Report Yakum 6097200, Israel www.paz.co.il WorldReginfo - b1d0d604-1d01-4a24-939b-ab2b538ff8c0 PAZ OIL COMPANY LTD. 2015 Annual Report WorldReginfo - b1d0d604-1d01-4a24-939b-ab2b538ff8c0 Disclaimer This document is a convenience translation from the Hebrew original of the separate financial data dated December 31, 2015 (the "Statements") issued by Paz Oil Company Ltd. (the "Company"). Only the Hebrew original of the Statements is legally binding. No reliance may by placed for any purpose whatsoever on the completeness, accuracy or fairness of information contained in this document. No warranty or representation, express or implied, is made or given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information contained in this document and no responsibility or liability is accepted by any person for such information. WorldReginfo - b1d0d604-1d01-4a24-939b-ab2b538ff8c0 PAZ OIL COMPANY LTD. Table of Contents A. Description of the Company’s Business B. Report of the Board of Directors on the State of Affairs of the Corporation C. Consolidated Financial Statements D. Additional Details about the Company E. Separate Financial Data as of December 31, 2015 WorldReginfo - b1d0d604-1d01-4a24-939b-ab2b538ff8c0 A. Description of the Company’s Business WorldReginfo - b1d0d604-1d01-4a24-939b-ab2b538ff8c0 Chapter A - Description of the Company's Business Description of the Company's Business – Contents Part 1: Description of the General Development of the Company's Business ............................................................
    [Show full text]
  • Israel's National Religious and the Israeli- Palestinian Conflict
    Leap of Faith: Israel’s National Religious and the Israeli- Palestinian Conflict Middle East Report N°147 | 21 November 2013 International Crisis Group Headquarters Avenue Louise 149 1050 Brussels, Belgium Tel: +32 2 502 90 38 Fax: +32 2 502 50 38 [email protected] Table of Contents Executive Summary ................................................................................................................... i Recommendations..................................................................................................................... iv I. Introduction ..................................................................................................................... 1 II. Religious Zionism: From Ascendance to Fragmentation ................................................ 5 A. 1973: A Turning Point ................................................................................................ 5 B. 1980s and 1990s: Polarisation ................................................................................... 7 C. The Gaza Disengagement and its Aftermath ............................................................. 11 III. Settling the Land .............................................................................................................. 14 A. Bargaining with the State: The Kookists ................................................................... 15 B. Defying the State: The Hilltop Youth ........................................................................ 17 IV. From the Hills to the State ..............................................................................................
    [Show full text]
  • 4C Buried Secrets
    R-0048 a reporter at laRgE bURiEd sEcrets How an Israeli billionaire wrested control of one of Africa’s biggest prizes. bY paTRick radden keefE 50 THE NEW YORKER, JULY 8 & 15, 2013 TNY—2013_07_08&15—PAGE 50—133SC.—Live art r23707—CritiCAL PHOTOGRAPH TO BE WATCHED THROUGHOUT THE ENTIRE PRESS run—pLEASE PULL KODAK APPROVAL PROOF F0R PRESS COLOR GUID- ANCE 4C ne of the world’s largest known de- As wealthy countries confront the posits of untapped iron ore is buried prospect of rapidly depleting natural re- insideO a great, forested mountain range in sources, they are turning, increasingly, the tiny West African republic of Guinea. to Africa, where oil and minerals worth In the country’s southeast highlands, far trillions of dollars remain trapped in the from any city or major roads, the Siman- ground. By one estimate, the continent dou Mountains stretch for seventy miles, holds thirty per cent of the world’s min- looming over the jungle floor like a giant eral reserves. Paul Collier, who runs the dinosaur spine. Some of the peaks have Center for the Study of African Econo- nicknames that were bestowed by geolo- mies, at Oxford, has suggested that “a gists and miners who have worked in the new scramble for Africa” is under way. area; one is Iron Maiden, another Metal- Bilateral trade between China and Af- lica. Iron ore is the raw material that, once rica, which in 2000 stood at ten billion smelted, becomes steel, and the ore at Si- dollars, is projected to top two hundred mandou is unusually rich, meaning that billion dollars this year.
    [Show full text]
  • Aliyah and Settlement Process?
    Jewish Women in Pre-State Israel HBI SERIES ON JEWISH WOMEN Shulamit Reinharz, General Editor Joyce Antler, Associate Editor Sylvia Barack Fishman, Associate Editor The HBI Series on Jewish Women, created by the Hadassah-Brandeis Institute, pub- lishes a wide range of books by and about Jewish women in diverse contexts and time periods. Of interest to scholars and the educated public, the HBI Series on Jewish Women fills major gaps in Jewish Studies and in Women and Gender Studies as well as their intersection. For the complete list of books that are available in this series, please see www.upne.com and www.upne.com/series/BSJW.html. Ruth Kark, Margalit Shilo, and Galit Hasan-Rokem, editors, Jewish Women in Pre-State Israel: Life History, Politics, and Culture Tova Hartman, Feminism Encounters Traditional Judaism: Resistance and Accommodation Anne Lapidus Lerner, Eternally Eve: Images of Eve in the Hebrew Bible, Midrash, and Modern Jewish Poetry Margalit Shilo, Princess or Prisoner? Jewish Women in Jerusalem, 1840–1914 Marcia Falk, translator, The Song of Songs: Love Lyrics from the Bible Sylvia Barack Fishman, Double or Nothing? Jewish Families and Mixed Marriage Avraham Grossman, Pious and Rebellious: Jewish Women in Medieval Europe Iris Parush, Reading Jewish Women: Marginality and Modernization in Nineteenth-Century Eastern European Jewish Society Shulamit Reinharz and Mark A. Raider, editors, American Jewish Women and the Zionist Enterprise Tamar Ross, Expanding the Palace of Torah: Orthodoxy and Feminism Farideh Goldin, Wedding Song: Memoirs of an Iranian Jewish Woman Elizabeth Wyner Mark, editor, The Covenant of Circumcision: New Perspectives on an Ancient Jewish Rite Rochelle L.
    [Show full text]
  • The Land of Israel Symbolizes a Union Between the Most Modern Civilization and a Most Antique Culture. It Is the Place Where
    The Land of Israel symbolizes a union between the most modern civilization and a most antique culture. It is the place where intellect and vision, matter and spirit meet. Erich Mendelsohn The Weizmann Institute of Science is one of Research by Institute scientists has led to the develop- the world’s leading multidisciplinary basic research ment and production of Israel’s first ethical (original) drug; institutions in the natural and exact sciences. The the solving of three-dimensional structures of a number of Institute’s five faculties – Mathematics and Computer biological molecules, including one that plays a key role in Science, Physics, Chemistry, Biochemistry and Biology Alzheimer’s disease; inventions in the field of optics that – are home to 2,600 scientists, graduate students, have become the basis of virtual head displays for pilots researchers and administrative staff. and surgeons; the discovery and identification of genes that are involved in various diseases; advanced techniques The Daniel Sieff Research Institute, as the Weizmann for transplanting tissues; and the creation of a nanobiologi- Institute was originally called, was founded in 1934 by cal computer that may, in the future, be able to act directly Israel and Rebecca Sieff of the U.K., in memory of their inside the body to identify disease and eliminate it. son. The driving force behind its establishment was the Institute’s first president, Dr. Chaim Weizmann, a Today, the Institute is a leading force in advancing sci- noted chemist who headed the Zionist movement for ence education in all parts of society. Programs offered years and later became the first president of Israel.
    [Show full text]
  • Companies Supporting the Israeli Occupation of Palestinian Land
    Companies Supporting the Israeli Occupation of Palestinian Land October, 2009 This information is a gift from Hoder Investment Research (HIR). HIR wishes to thank the Coalition of Women for Peace (CWP) in Israel for information used in this report. Their web site is www.whoprofits.org. HIR encourages donations to their work. Items in blue were published by the New England United Methodist Divestment Task Force (www.neumc.org/divest) and have been updated here. Questions or suggestions may be directed to [email protected]. Neither Hoder Investment Research nor the Interfaith Peace Initiative assumes any legal responsibility for the accuracy of the material included in this report or for actions based thereon. Readers should go directly to the sources listed to learn more about the companies and assess their role in the occupation. 1. AFRICA ISRAEL INVESTMENTS LTD. (TLV:AFIL) (TLV:AFPR) (TLV:AFHS) builds settler housing in multiple settlements through its subsidiary construction firm, Danya Cebus. The company also owns the Israeli franchise of the real estate agency Anglo Saxon, which has a branch in the settlement of Ma'ale Edomim and offers apartments and houses in many settlements in the Occupied Territories. The company owns 26% of Alon Group, which is also involved with the settlements (see below). Note: Africa Israel Chairman and founder Lev Leviev and his brother are responsible for the settlements of Zufim (Tsufim) and Zufim North on land belonging to the village of Jayyous in the northern West Bank. They are being built by a Leviev company called Leader Management & Development. The village‘s water wells, greenhouses, and most of its agricultural land have been confiscated for these settlements.
    [Show full text]
  • NASDAQ Stock Market
    Nasdaq Stock Market Friday, December 28, 2018 Name Symbol Close 1st Constitution Bancorp FCCY 19.75 1st Source SRCE 40.25 2U TWOU 48.31 21st Century Fox Cl A FOXA 47.97 21st Century Fox Cl B FOX 47.62 21Vianet Group ADR VNET 8.63 51job ADR JOBS 61.7 111 ADR YI 6.05 360 Finance ADR QFIN 15.74 1347 Property Insurance Holdings PIH 4.05 1-800-FLOWERS.COM Cl A FLWS 11.92 AAON AAON 34.85 Abiomed ABMD 318.17 Acacia Communications ACIA 37.69 Acacia Research - Acacia ACTG 3 Technologies Acadia Healthcare ACHC 25.56 ACADIA Pharmaceuticals ACAD 15.65 Acceleron Pharma XLRN 44.13 Access National ANCX 21.31 Accuray ARAY 3.45 AcelRx Pharmaceuticals ACRX 2.34 Aceto ACET 0.82 Achaogen AKAO 1.31 Achillion Pharmaceuticals ACHN 1.48 AC Immune ACIU 9.78 ACI Worldwide ACIW 27.25 Aclaris Therapeutics ACRS 7.31 ACM Research Cl A ACMR 10.47 Acorda Therapeutics ACOR 14.98 Activision Blizzard ATVI 46.8 Adamas Pharmaceuticals ADMS 8.45 Adaptimmune Therapeutics ADR ADAP 5.15 Addus HomeCare ADUS 67.27 ADDvantage Technologies Group AEY 1.43 Adobe ADBE 223.13 Adtran ADTN 10.82 Aduro Biotech ADRO 2.65 Advanced Emissions Solutions ADES 10.07 Advanced Energy Industries AEIS 42.71 Advanced Micro Devices AMD 17.82 Advaxis ADXS 0.19 Adverum Biotechnologies ADVM 3.2 Aegion AEGN 16.24 Aeglea BioTherapeutics AGLE 7.67 Aemetis AMTX 0.57 Aerie Pharmaceuticals AERI 35.52 AeroVironment AVAV 67.57 Aevi Genomic Medicine GNMX 0.67 Affimed AFMD 3.11 Agile Therapeutics AGRX 0.61 Agilysys AGYS 14.59 Agios Pharmaceuticals AGIO 45.3 AGNC Investment AGNC 17.73 AgroFresh Solutions AGFS 3.85
    [Show full text]
  • Israel and the Alien Tort Statute
    Summer 2014 No.54 JTheUSTICE magazine of the International Association of Jewish Lawyers and Jurists In this issue The International Court of Justice Adjudicating the Arab-Israel Disputes? Boycotts, Divestment, Sanctions and the Law Israel and the Alien Tort Statute Corporations and Human Rights Zivotofsky v. Kerry - A Historical Constitutional Battle Preachers of Hate and Freedom of Expression UNRWA Panel at UN IAJLJ Activities The International Association of Jewish Lawyers and Jurists Honorary President: Hadassa Ben-Itto, Judge (Ret.) (Israel) Life time Member: Irwin Cotler, Prof. (Canada) Honorary Vice Presidents: Joseph Roubache (France) Oreste Bisazza Terracini, Dr. (Italy) Executive Committee: Board of Governors: President: Irit Kohn (Israel) Irit Kohn (Israel) Haim Klugman (Israel) Avraham (Avi) D. Doron (Israel) Deputy President: Meir Rosenne, Dr. (Israel) Haim Klugman (Israel) Mirella M. Bamberger (Israel) Alyza D. Lewin (USA) Vice President and Treasurer: Marcos Arnoldo Grabivker, Judge (Argentina) Avraham (Avi) D. Doron (Israel) Maurizio Ruben (Italy) Alex Hertman (Israel) Vice President and Coordinator with Amos Shapira, Prof. (Israel) International Organizations: Avishai Sapir (Israel) Meir Rosenne, Dr. (Israel) David Pardes (Belgium) Dov Shefi, Brig. (Ret.) (Israel) Vice President and Secretary General: Edna Bekenstein, Judge (Ret.) (Israel) Mirella M. Bamberger (Israel) Edna Kaplan-Hagler, Judge (Ret.) Dr. (Israel) Efraim (Efi) Chalamish, Dr. (USA) Vice Presidents: Ethia Simha (Israel) Alyza D. Lewin (USA) Jeremy D. Margolis (USA) Marcos Arnoldo Grabivker, Judge (Argentina) Jimena Bronfman (Chile) Maurizio Ruben (Italy) Jonathan Lux (UK) Lipa Meir, Dr. (Israel) Academic Adviser: Mala Tabory, Dr. (Israel) Yaffa Zilbershats, Prof. (Israel) Maria Canals De-Cediel, Dr. (Switzerland) Meir Linzen (Israel) Representatives to the U.N.
    [Show full text]
  • List of Section 13F Securities
    List of Section 13F Securities 1st Quarter FY 2004 Copyright (c) 2004 American Bankers Association. CUSIP Numbers and descriptions are used with permission by Standard & Poors CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved. No redistribution without permission from Standard & Poors CUSIP Service Bureau. Standard & Poors CUSIP Service Bureau does not guarantee the accuracy or completeness of the CUSIP Numbers and standard descriptions included herein and neither the American Bankers Association nor Standard & Poor's CUSIP Service Bureau shall be responsible for any errors, omissions or damages arising out of the use of such information. U.S. Securities and Exchange Commission OFFICIAL LIST OF SECTION 13(f) SECURITIES USER INFORMATION SHEET General This list of “Section 13(f) securities” as defined by Rule 13f-1(c) [17 CFR 240.13f-1(c)] is made available to the public pursuant to Section13 (f) (3) of the Securities Exchange Act of 1934 [15 USC 78m(f) (3)]. It is made available for use in the preparation of reports filed with the Securities and Exhange Commission pursuant to Rule 13f-1 [17 CFR 240.13f-1] under Section 13(f) of the Securities Exchange Act of 1934. An updated list is published on a quarterly basis. This list is current as of March 15, 2004, and may be relied on by institutional investment managers filing Form 13F reports for the calendar quarter ending March 31, 2004. Institutional investment managers should report holdings--number of shares and fair market value--as of the last day of the calendar quarter as required by Section 13(f)(1) and Rule 13f-1 thereunder.
    [Show full text]
  • Ritist5pn ;1535D1 Iprin5 Tit1m1 the CENTER for AGRICULTURAL ECONOMIC RESEARCH
    378.5694 C45 9601 ritist5pn ;1535D1 Iprin5 TiT1M1 THE CENTER FOR AGRICULTURAL ECONOMIC RESEARCH Working Paper No. 9601 Allocation and Pricing of Water at the Regional Level by Brill Eyal, Eithan Hochman and David Zilberman Waite Library Eco:Icyrnics U of M 1994 I3141.;- -cci 232 ClaOff St Paul MN 65108-6040 USA Rehovot, Israel, P.O.B. 12 12 .-r.n •IP'` The working papers in this series are preliminary rim on Iv nymn iprun )110ND and circulated for the purpose of discussion. The nivIn .nnyn 1152171 1pi5 )31vm views expressed in the papers do not reflect those nn rnopvn ipm Dna nlynon of the Center for Agricultural Economic Research. ;15D5Da lpn7D5 Dion niy1 Working Paper No. 9601 Allocation and Pricing of Water at the Regional Level by Brill Eyal, Eithan Hochman and David Zilberman Waite Library - U of M Buford I..vo - 232 ClaOff St Paul MN 55108-6040 USA THE CENTER FOR AGRICULTURAL ECONOMIC RESEARCH P.O. Box 12, Rehovot Allocation and Pricing at The Water District Level. by Eyal Brill * Eithan Hochman ** David Zilberman *** December 1995 Ph.D. Student, Hebrew University, Department of Agricultural Economics and Management. Professor. Hebrew University, Department of Agricultural Economics and Management. *** Professor. UC Berkeley, Department of Agricultural and Resource Economics. The authors would like to thank P. Zusman, I Finkelstain, 0. Hochman, A. Dinar and M. Gisser for their helpful remarks. Supported by BARD Project US-2081-91 1. Introduction. Growing urban and environmental demands for water together with severe financial and political constraints on the development of new water supply sources, exert considerable pressure on the existing arrangements for the distribution and the use of water in apiculture.
    [Show full text]
  • Tanya Sources.Pdf
    The Way to the Tree of Life Jewish practice entails fulfilling many laws. Our diet is limited, our days to work are defined, and every aspect of life has governing directives. Is observance of all the laws easy? Is a perfectly righteous life close to our heart and near to our limbs? A righteous life seems to be an impossible goal! However, in the Torah, our great teacher Moshe, Moses, declared that perfect fulfillment of all religious law is very near and easy for each of us. Every word of the Torah rings true in every generation. Lesson one explores how the Tanya resolved these questions. It will shine a light on the infinite strength that is latent in each Jewish soul. When that unending holy desire emerges, observance becomes easy. Lesson One: The Infinite Strength of the Jewish Soul The title page of the Tanya states: A Collection of Teachings ספר PART ONE לקוטי אמרים חלק ראשון Titled הנקרא בשם The Book of the Beinonim ספר של בינונים Compiled from sacred books and Heavenly מלוקט מפי ספרים ומפי סופרים קדושי עליון נ״ע teachers, whose souls are in paradise; based מיוסד על פסוק כי קרוב אליך הדבר מאד בפיך ובלבבך לעשותו upon the verse, “For this matter is very near to לבאר היטב איך הוא קרוב מאד בדרך ארוכה וקצרה ”;you, it is in your mouth and heart to fulfill it בעזה״י and explaining clearly how, in both a long and short way, it is exceedingly near, with the aid of the Holy One, blessed be He. "1 of "393 The Way to the Tree of Life From the outset of his work therefore Rav Shneur Zalman made plain that the Tanya is a guide for those he called “beinonim.” Beinonim, derived from the Hebrew bein, which means “between,” are individuals who are in the middle, neither paragons of virtue, tzadikim, nor sinners, rishoim.
    [Show full text]
  • Rocument RESUME ED 045 767 UD 011 084 Education in Israel3
    rOCUMENT RESUME ED 045 767 UD 011 084 TITLE Education in Israel3 Report of the Select Subcommittee on Education... Ninety-First Congress, Second Session. INSTITUTION Congress of the U.S., Washington, E.C. House Ccmmittee on Education and Labcr. PUB DATE Aug 70 NOTE 237p. EDRS PRICE EDRS Price MP-$1.00 BC-$11.95 DESCRIPTORS Acculturation, Educational Needs, Educational Opportunities, *Educational Problems, *Educational Programs, Educational Resources, Ethnic Groups, *Ethnic Relations, Ncn Western Civilization, Research and Development Centers, *Research Projects IDENTIFIERS Committee On Education And Labor, Hebrew University, *Israel, Tel Aviv University ABSTRACT This Congressional Subcommittee report on education in Israel begins with a brief narrative of impressions on preschool programs, kibbutz, vocational programs, and compensatory programs. Although the members of the subcommittee do not want to make definitive judgments on the applicability of education in Israel to American needs, they are most favorably impressed by the great emphasis which the Israelis place on early childhood programs, vocational/technical education, and residential youth villages. The people of Israel are considered profoundly dedicated to the support of education at every level. The country works toward expansion of opportunities for education, based upon a belief that the educational system is the key to the resolution of major social problems. In the second part of the report, the detailed itinerary of the subcommittee is described with annotated comments about the places and persons visited. In the last part, appendixes describing in great depth characteristics of the Israeli education system (higher education in Israel, education and culture, and the kibbutz) are reprinted. (JW) [COMMITTEE PRINT] OF n.
    [Show full text]