Well, it couldn't happen to a nicer guy. Lev Leviev looses $426 million, the largest loss in Israel's history Muwahahahaha...........Perhaps he will be selling off that mansion he just bought in England and go on back to Israel hopefully.
Leviev=Blood Diamonds, booted from UNICEF,supports the Illegal Israeli Settlers, created a school Curriculum program in Israeli schools to indoctrinate children, well,you get the idea. All around Zionist eejit. I wrote all about this HERE in depth, and aside from all this, he wants, or should I say, expects, to be the next Israeli Prime minister, seriously.
Record losses for Africa Israel
Lev Leviev's Africa Israel is going deeper and deeper into the red. The company is expected to lose NIS 1.5 billion to NIS 2 billion for the fourth quarter of 2008 alone, and total 2008 losses could reach an unprecedented NIS 3.5 billion. Most of the losses stem from the drop in the value of the firm's real estate properties in Eastern Europe.
Africa Israel refused to comment on the report
Africa's shareholder equity at the end of the third quarter last year totalled NIS 7.4 billion.
The company had forecast losses of NIS 1.7 billion for the third quarter of 2008, but in the end it reported NIS 2.1 billion of red ink.
The third quarter numbers included write-downs of NIS 1.08 billion on the value of real estate properties. Most came from various Africa Israel subsidiaries, those in the U.S., Eastern Europe and Russia in particular. These losses continued in the fourth quarter, mostly due to the decline in value of Eastern European currencies.
Africa's shares have fallen 86% in value in the past year, and the company is now valued at only NIS 1.7 billion on the stock market. Its bonds are now trading at junk bond yields of up to 60%.
In its 2008 third quarter financial report, Africa Israel wrote it would put up further assets as guarantees for its debts to the banks. The company is expected to finalize an agreement this week with Bank Leumi on refinancing its 73.4% holdings in the Ramat Aviv Mall, after Africa failed in all its attempts to sell the mall at a price tag of NIS 1.3 billion.
Good news doesn't stop there,here's more:
Leviev losses force Chabad to fund-raise
Chabad is turning to small donors to stave off a financial crisis in its Russian operations, as major donors like diamond and real estate mogul Lev Leviev are pulling back after suffering heavy losses in the global economic recession.
Officials at Chabad's worldwide headquarters in New York's Crown Heights neighborhood declined to comment specifically on budget cuts due to Leviev's losses, but said that outposts in the former Soviet Union had been successful in drumming up new donors to keep critical programs intact
and if that's not enough, Israeli crude oil has also suffered a huge 4th quarter loss, it just keeps getting better:
Oil Refineries, Israel's biggest refinery, posted a quarterly net loss of $182 million, compared with a profit of $18 million a year earlier.
So,additionally, let's all remember to keep BOYCOTTING ISRAELI GOODS worldwide, don't buy anything with a bar code that begins with 729 or any goods or produce from the West Bank grown on Illegal land. Hit them where it hurts in the wallet!