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Apr 13, 2010

The Gerrer's fail in bid to take over Bank Leumi

The Gerrer hassidim are going through some bad times. After becoming very dominant in the haredi world and taking many leadership roles and seeing much success, recently they have been hit with some hard, and probably stinging, failures. The most prominent of those is the recent decision to build the Barzilai Emergency Room in its original designated location, rather than the alternate as insisted on by Yaakov Litzman.

The most recent failure, perhaps not quite as prominent though, is the 26 year old Gerrer from Bnei Brak who was pushing his candidacy for the directorship of Bank Leumi, simply because he bought a small amount of stocks in the company. His main point of experience upon which he based his candidacy is that he worked for a haredi website for a short period, writing articles, before they shut down because of the Internet ban.

So how did he fail? He made a big push for his candidacy for the directorship position. The drive to find a new director has gone to the next step - the committee has submitted its list of 5 recommended candidates for the position. Yosef Mozeson's name was not on the list.

That pretty much makes his chances to be next to nothing... I am sorry to see that, and I hope he pushes on. It would definitely have been interesting to watch him run a large international bank like Bank Leumi....


  1. Would you still have found it so interesting if your life savings was invested in its stock?

  2. how do you know it is not?

    just joking - I guess not. But he never really had a chance anyway so it is moot.

  3. It would definitely have been interesting to watch him run a large international bank like Bank Leumi....

    It probably wouldn't remain a large international bank for long.

  4. Dovid, no one's entire life savings should ever be invested in one stock? Ever hear the term "Don't put all your eggs in one basket?"

    Yoni, sure it would. If he was doing such a bad job, he'd be out on his ear sooner than he'd be able to destroy the entire institution.


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