Subscribe to Print Edition | Thu., July 03, 2008 Sivan 30, 5768 | | Israel Time: 01:22 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Peres Conference Business Real Estate Easy Start Travel Week's End Anglo File

El Al severence fund lost NIS 100m in 2007 By Sarit Menahem Tags: severance, israel, el al The American subprime meltdown has hit El Al's workers. The airline's severance compensation fund for employees, ostensibly a conservative investment vehicle, lost NIS 100 million during 2007 because of ill-fated investment in mortgage-backed U.S. securities, according to an audit by Yossi Bahir, who the treasury appointed a month ago to vet the NIS 1.2-billion fund's investment. Meanwhile, El Al management is meeting with representatives of brokerages, to transfer most of the fund's remaining assets - about NIS 700 million - to outside management. T Advertisement he El Al fund also lost NIS 50 million to NIS 60 million last year on investment in structured deposits and credit derivatives, which are also high-risk financial instruments. Bookmark to del.icio.us   Terror in the capital A Palestinian rammed his bulldozer into a bus in Jerusalem, killing three. Poetic injustice Palestinian poet Mahmoud Darwish blends sarcasm and hope in his latest work.

Read & React Three dead, dozens hurt in Jerusalem terror attack Responses: 410 UN troops in Lebanon coerced into deleting images of underground cables Responses: 99 Israel's saber-rattling against Iran could backfire Responses: 150 Bradley Burston: Palestinian terrorism as a natural act Responses: 162 Rosner's Domain / Why do Arabs prefer Hamas over Fatah? Responses: 65 More Headlines 00:19 Two teachers among the dead in Jerusalem attack 23:23 Three dead, dozens hurt in Jerusalem terror attack 23:54 Barak: Israel must respond immediately to Jerusalem attack 23:47 Palestinian terrorism as a natural act 17:04 Jerusalem bus driver: Terrorist looked me in the eye and drove at me 22:26 Hezbollah chief: Prisoner swap to take place within two weeks 16:58 New laws aim to revoke Israeli Arab terrorists' citizenship 11:38 Will the real Zohan please stand up? 00:16 Palestinian poet: History laughs at both victim and aggressor 19:48 U.S. army chief: Israeli strike on Iran would destabilize Mideast 21:50 Dichter speech at time of Jerusalem attack raises ministers' ire 16:39 Six Egypt police wounded as Gazans try to storm Rafah border 14:10 Britain tightens ban on Hezbollah to cover military wing 14:40 VIDEO: Police anti-terror unit steps up preparations for hostage scenario 14:40 Report: Israel, Syria to hold direct negotiations after next round of talks Previous Editions Select Day 02 jul 01 jul 30 jun 29 jun 27 jun 26 jun 25 jun 24 jun 23 jun 22 jun 20 jun 19 jun

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