European Stars And Stripes (Newspaper) - February 14, 1988, Darmstadt, Hesse                                Page 18 the stars and stripes sunday february 14,1988 business news the Days of plunking Down a couple of divert million lire for a new italian car May be num  of Iii Many years of Loo Many Chi. Italian officials Are putting the finishing touches on a plan that would replace their currency with a new a rave lira Worth 1.000 times As much m the current  tiling rid of three cumbersome dig its the mme n designed to catapult the i in to the Levels of Eicem enjoyed by other european currencies bringing in in line with the image Ofa modern developed country thai Italy has earned for itself As italian Treasury officials put while scepticism remains that the plan will Ever materialize a leaner lira has been in an then oui of the works since the end of world War m government officials said last week that the new currency could hit the strode As Early As in is  changeover expected to Lake five Yean would drop the Purchase Price Ofa cup of coffe Efrom around a Mill to a single lira about 80 cents at current Exchange rates. The switch also would Herald the return of the Senif Sim a pre War unit representing Hundredth of a lira. A newspaper or Candy bar Selling for about 800 lire today would sell for 80 cd Nesimi after the currency switch goes into effect a few factors could delay the plan last week s resignation of prime minister Giovanni Goria for Crample but Treasury officials in Sist the new currency remains a virtual certainly. Italian banners in fact report that the new currency units already have been printed and Are ready for distribution Giuseppe Muscara director of the Bank of America in Naples believes the currency change is Long overdue although he admits the transition period will be difficult especially for older people who May resent having to a chink what their Money is  senior officer of an italian Bank believes attic transition will require twice As ions As the projected five  you hink of the Broad number of peo ple and businesses Hal will be affected right Down 10 the Guy Selling Black Market cigarettes in the it reels. The process is going to be extremely difficult he said."1 think it s necessary but it s not going to be easy by any  look for the Dollar to rebound on foreign cur Rency exchanges in the coming week in response to the latest figures on America s improving Trade  Commerce department reported Friday Hal America s Mont by Trade imbalance dropped to ji21 billion in december the Low est since january 1987. Figures on the japanese Trade picture due Oul monday also arc cup cycled to show a decline in surpluses in the japanese current  reports Are viewed As positive signs for inc beleaguered Greenback. Several traders in Frankfurt predicted the Buck could now break through the 1.70 Mark Barrier perhaps reaching 1.75 Marks in the coming week. Other traders remained a cinch however. They Point to a report from the congressional budget office released thursday thai suggests the Trade deficit will Noi shrink fast enough to prevent a further 10 percent decline of the Dollar in inc next into  trader concerns Are expected to add re sir aim 10 the Dollar s upswing in the coming week Likely heading off intervention by Iho Cen trial Banks of the g-7 nations who have expressed their preference for a ii Abl Dollar Al or around current  the Fate of America s improving Trade Pic lure traders in London said they believed Brit Ain s Central Bank would enter the Marucci this week in support of the Pound. Despite december s improvement the Trade deficit widened to 1171.2 billion in 197, the largest Ever. Ike Commerce department reported. Wealth unlimited pitching gis from Page 1 dumping whole life insurance policies closing passbook savings accounts and if necessary borrow ing. Other Mcgivney commandment include such terns As buy Low and sell High and make a Little from a lot simple Credo he acknowledges but Oriel that few manage to follow. Execution is where everyone Falls Down he said in a recent Telephone interview. Buy Low and sell High everyone says it bul if they were doing in i would never have gotten this company off the  one of the basics of the wealth unlimited course is that strategies for building wealth Are different from those used to hang on o what an investor already has. To that end Mcgivney pushes students to get in on the ground floor of Small companies that Are in their growth phase and invest in their  one such company happens to be pm industries a firm with which Mcgivney shares More than Mono Grams. Pm which trades on Over the counter markets might As easily have been dubbed Joe Mcgivney unlimited the company acts As the umbrella for Mcgivney and associates Mcgivney & co. Insurance pm Trust and pm accountants plus five other Mcgivney endeavours about a third of wealth unlimited students de on loin est in pm despite the firm s lacklustre financial performance since it went Public in 1985. Last year the company broke even on revenues of j8 million. Its Stock however has reached peaks of j4.so a share although it recently was trading under the $2.25 Mark. Chairman Mcgivney say pm s problems Are growing pains noting that the firm s seven year plan 250 offices spread across All 50 slates remains on schedule. As a show of Faith Las december Mcgivney tendered Back shares representing nearly 35 percent of the company a paper gesture that led some wealth unlimited graduates 10 believe their pm Slock Sud Denly increased in value. Detractors use terms like House of cards and Pyramid sales when describing Mcgivney s corporate Empire suggesting that pm Stock would Likely crash without the Ever evolving Pool of wealth unlimited graduates who arc anxious to buy shares. Mcgivney backed by a Loyal following of shareholders prefers to meet sceptics head on. Lately he has taken to issuing challenges of Public debates via ads in the Chicago Tribune. I hear the critics every Day Mcgivney says. A lot of in is wailing from  another debate pits Mcgivney against the Illinois department of securities on the question of Whethe Mcgivney and other wealth unlimited staffers should be registered As investment advisers. Such a move would Force Mcgivney to file annual reports disclosing commissions on All of the financial products sold by his staff of Iso registered assistants a ponderous and time consuming task for a High turnover firm like Mcgivney a obviously if they Furuc us to Register Well Regis Ter Mcgivney said " right now the state of Illinois says yes and we say  Illinois investigators say the Case is in in discovery  wealth unlimited s european Branch is headed by a retired army sergeant Lee Lawley of Hanau who took Mcgivney i video course in 1987 and saw the need and the Opportunity for wealth unlimited Europe based on what i Learned in the  Lawley who also runs an Aulo Dealership called City car and a video rental shop said he checked newspaper articles and talked with brokerage firms about me Gincy before signing on. I did t want to be involved in anything that was going to be preying on soldiers Over Here he  m satisfied Hal wealth unlimited in t a rip off or a  Lawley digging did not Lum up two instances in 1974 and 1985, in which Mcgivney was charged by the securities and Exchange commission with Violal ing Federal securities Laws. The 1985 charge involved Mcgivney falsely prom Ising to put up Stock and mortgages As collateral be Hind debt securities he was Selling. In 1974 he was charged with improperly Selling receipts similar to securities backing the operation of an unregistered whiskey warehouse. In Bolli cases Mcgivney signed a consent deem in effect a paper Promise to Correct the irregularities while not admitting any guilt. Sec spokesman Chiles Larson said about 85 percent of the commission s cases lire settled by consent de Cree. However violators caught breaking the same stat utes it second Lime can be held in contempt of court and jailed he said. Says Mcgivney consent decrees Are in administrative practice. You can t find a firm on Wall Street that has t been involved in  new allegation. Indicate thai Mcgivney May have run afoul of Sec investigators again this Lime for artificially inflating the Price of pm Stock and thai of other Small companies recommended to wealth unlimited graduates. Mcgivney says he is unaware of any Sec investigation and strenuously denies being involved in Stock manipulation. The securities commission citing a Long standing policy would not comment on whether such a probe is under Way. Sources in Washington however confirm thai the Sec is interested in whether Mcgivney has used illegal trading practices to pump up inc Price of the stocks he recommends. Asked about the allegations which first surfaced m Fortune Magazine Mcgivney said for the record categorically there has been no Slock manipulation of any kind we re not through addressing those allegations legally. We believe they Are maliciously designed to cause problems for  despite the allegations and criticisms wealth unlimited grads remain intensely Loyal to both found Rand firm. They re easy to spot Al so minis Sperling billion that read i m a jpm1 stockholder and i m a 20." a reference to the wealth unlimited and thai 80percent of the world s wealth is controlled by 20 per cent of the population. Time will ill if Mcgivney s other numbers add up As Well. Lee Tawley of Hinau Orr boy a retired Arm sergeant Heads it lib unlimited european Branch