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Histadrut-owned Firms May Face Collapse, Comptroller Warns

Several enterprises owned by the Histadrut labor federation, including the daily newspaper Davar, face possible collapse if measures are not taken soon to reverse their financial problems, the federation’s comptroller general has warned.

Naftali Blumenthal issued the warnings in a report due to be published Sunday, parts of which were obtained in advance by the news media.

According to Blumenthal’s report, major institutions in impending danger include Davar, the Amal education network, the Yakhin Git processing plant in Ashkelon and the Phoenecias household goods factory in Haifa.

In addition, Blumenthal reported, the Hassneh Insurance Company, Israel’s largest, has accumulated losses of $52 million.