September 7, 2003 9:55 AM

Another bad investment

Israel closes West Bank, Gaza

Citing changing demographics and declining sales, Israel today closed the West Bank and Gaza and then filed for protection from it's creditors under Chapter 11. The move came as no surprise to analysts, who have long suspected that Israel would have no choice but do whatever it could to dump low-performing assets.

Though the Israelis have not announced any formal plans, analysts suspect they will try to break up the West Bank and Gaza in order to sell the assets for whatever they are able to get. Due to the advanced state of deterioration in both the West Bank and Gaza, investors have been cautioned to expect sizable losses.

The Israeli government is acknowledging privately that any change in the West Bank and Gaza will involve the removal of CEO Yassir Arafat, who thus far is refusing to admit his role in the demise of the West Bank and Gaza. Negotiations have to date proven fruitless, leading analysts to speculate that a hostile takeover may be the next step.

In related news, Moody's today attempted to downgrade the investment rating of the West Bank and Gaza from it's current junk bond status, only to discover that there IS no rating lower than junk bond status.

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This page contains a single entry by Jack Cluth published on September 7, 2003 9:55 AM.

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