European Stars And Stripes (Newspaper) - September 29, 1989, Darmstadt, Hesse                                Page 6 the stars and stripes Friday september 29.1989 Braniff files for bankruptcy lays off 2,700 employees stateside by the associated press Braniff Floc. Hied for bankruptcy Protection and bid off 2.700 employees thursday a Day after cancelling flights through its major Kansas City mo., Hub and its Orlando. Fla., Home base for several hours a spokes Man said. Braniff sought Protection from creditors to allow it to reorganize under chapter 11 of the . Bankruptcy code in the Florida City said Don Mcguire the air line s vice president for corporate communications. We expect to operate four flight segments that non Stop services Between two cities today and we want to raise that to More than 40 by monday Mcguire said. Well gradually expand the  the flights will be Between Kansas City and Orlan do and Kansas City and Dallas the company said. The employee layoffs were to begin thursday it said. On wednesday rumours that Braniff planned to file for chapter ii bankruptcy Protection for a second time pushed the company s Stock Down $1.75 in Over the counter trading to $3.125 a share. The airline issued a terse statement late in the Day saying it began cancelling selected flights at 2 45 ., and some additional flights would be scrubbed later. Loran it had Given no explanation for the action or the stale of the airline in general Braniff filed for chapter 11 Protection in 1982, with nearly $1 billion in debts the first major casualty of deregulation of the Domestic airline Industry in 1978.it emerged from bankruptcy and started flying again in 1984 As a Low Cost no frills Carrier. Last May it moved its Headquarters from Dallas to Orlando. A reservations agent at the Braniff office in Kansas City said All flights from the Hub were cancelled in the afternoon. Kansas City officials said they were told wednesday afternoon that All flights from Kansas City would be halted wednesday evening and that Many planes would be grounded at Kansas City International air port overnight. As of last May Braniff served 31 destinations from Kansas City and 16 from Orlando. It had More than 4.000 employees including 440 pilots. Bra gifts work Force includes an estimated 2,000 employees in Kansas City. 1,165 in Orlando and 450 in Dallas. The airline was acquired by investors last summer shifted most of its flight operations to Kansas City and began trying to attract More business travellers by in creasing its daily schedules. Last May. Braniff chairman William g. Mcc announced an aggressive program that included expanding the workforce by 35 percent company wide ordering More than $2 billion Worth of new aircraft and constructing new maintenance facilities in Orlan do and Kansas City. Missing boy found in mine looking remarkably Well Salt Lake City a a 10-year-old boy miss ing for nearly five Days was found wednesday in a abandoned mine suffering from dehydration and mild frostbite but otherwise looking remarkably  Joshua Dennis was on a boy scout Outing Friday night when he got separated from the others in the hidden Valley mine in Western Utah s of Quirch mountains. If you Don t believe in miracles you d better be Lieve in this so help me said the boy s Grandfather Robert Dennis. The boy was found by searchers on a ledge in thymine at about 2 45  He said he had stayed on the ledge in the pitch Black darkness the whole Lime Pac he knew he should stay put. He prayed. He said he was being taken care of while he  Janeen Dennis ing Back and Forth at times without food or water. He knew he should stay put said his tearful Mother. Janeen Dennis. He prayed. He said he was being taken care of while he  she said he had Faith he would be found he never heard rescuers until today she said. And he heard their voices and he yelled for help and they heard  Joshua was taken to too Csc Valley Hospital before being flown by helicopter 19 a primary children s medical Center in Salt Lake City. He really looks remarkably Well said Trudy cur tis the too Csc Hospital s nursing director. Of course he s very dehydrated very gaunt and very tired maybe a Little  he docs have what at this Point we think is a mild frostbite on the toes Curtis said. But this is just  or. Tony Woodward at the medical Center in Salt Lake City said it was not unusual for a 10-Ycar-old to survive without water for that period. The boy from the Salt Lake suburb of Carns was taken to the Salt Lake City Hospital some 45 Miles Northeast of the mine where workers had tied a yellow ribbon around a pillar outside the emergency room and some 50 people cheered As he was wheeled in on Stretcher. Joshua was last seen inside the mine Friday night with his father. Terry Dennis and a group of boy scouts the father was helping supervise during an Over night camping trip. The boy told rescuers and Hospital personnel he become separated from the others and had tried to find his Way out of the mine by feeling the Walls Curtis said. Stumbling and falling at one Point he got scared and just stayed  searchers and Joshua s family had All but Given up Hope of finding him alive after exhaustive searches of the mine in rugged dry Canyon turned up no Trace of the boy sheriff Don Proctor said earlier wednesday. A Utah Power & Light co. Mine Rescue team descended into the mine for a second Day wednesday and found the boy Between 600 and 700 Yards inside the eight level labyrinth. The team was accompanied by a guide who had been doing historical research on the Gold Silver and Zinc mine last worked in 1953. The family s Bishop Phillip Fielding had spent the Day with the boy s parents in a Motel and was with them when the Good news came. It s like nothing i be Ever witnessed in my life an absolute Miracle he said. We practically had to carry them. They were weak with  Earhart search team excited by discoveries fort Walton Beach Fla. A an expedition looking for the wreckage of Amelia Earhart s plane in the South Pacific has found Coral encrusted Battery and two pieces of alumni num that May have come from an aircraft spokesman said. The items found off Nikuma Roro Island arc a Good sign but it is too Early to Tell whether they came from Earhart s Lockheed Model 10-e that vanished 52 years ago Tom Willi said in a Tele phone interview published wednesday in the Northwest Florida daily news newspaper. I can Tell you everybody Here is excited As  said Willi a retired Navy Pilot from this Florida Panhandle City Don t misconstrue that to mean i m sure it came from her plane. But no one can think of any Good reason for that Battery to be there. It s hard for me to visualize what the natives might pc been doing with a Battery Al though i guess it s feasible that their oversee could pc had a Battery operated  Willi and another fort Walton Beach Resi Dent retired air Force navigator Tom Gannon arc in Suva Fiji handling communications for the expedition. Corporate Raider Bilzerian gets Fine 4-year jail term new York a corporate Raider Paul a. Bilzerian was sentenced to four years in Pris on and fined $1.5 million wednesday for illegal Stock deals the Slif Fisl sentence yet in the government s crackdown on Wall Street. Bilzerian a High school dropout who capped a meteoric business career with his $1.06 billion takeover of Singer co., was convicted on june 9 of securities fraud conspiracy to commit tax fraud and making false statements to the government the charges involved three failed takeovers and another Stock Deal in 1985 and 1986 that allegedly netted him More than $12 million. The Case was the first criminal trial involving  in which securities ownership is disguised to Dodge tax or disclosure Laws. The lure of Money has caused him an intelligent Young Man to lose what 1 perceive to be proper perspective . District judge Robert j. Ward said. In Short he  Ward also placed Bilzerian on two years pro Bation and ordered him to do 250 hours of Community service. 600 Homes evacuated because of chemical fire Philadelphia a the threat of toxic fumes from a fire raging out of control at a chemical Plant wednesday night forced the evacuation of More than 600 Homes and shut Down Amtrak s Northeast corridor. A fire dispatcher said the first alarm in North Philadelphia was reported at 8 23  By mid night the fire was under control. No injuries were reported. We re very worried about it because of the volatility of the chemicals fire commissioner Roger Ulshafer said. He said the chemicals included benzene Sty Renc hydrochloric acid Benzyl peroxide Sulu Ric acid caustic soda Bromine propylene dichloride and i Vinyl benzine. The evacuees were taken to three nearby churches. The building where the fire broke out is owned by the Pur Olite chemical co., a water purification business but employees said the second floor is rented to Sterling hobbies a company that makes Balsa Model air planes. Defaults by homeowners Send Cha into the red Washington a the fund that has helped millions of americans buy Homes with government underwritten mortgages is in the red for the first time in history and will need up to $5 billion from Congress Over the next few years government auditors say. Most of the shortfall resulted from homeowners in economically strapped areas of the country being unable to make their House payments the head of the Gen eral accounting office told a Senate panel on wednesday. Some resulted from Finan Cial mismanagement he said. Gao chief Charles a. Bowsher told a Senate subcommittee that there were a record 203,000 foreclosures on Mort gages backed by the Federal housing administration last year. That rash of per Sonal financial failures combined with the bankruptcy of three big private companies that help insure the Cha s Multi family and Hospital construction pro Grams accounted for most of a $4.2 billion loss in the consolidated Cha insurance fund for 1988, the report said. The loss subtracted from a Cha fund surplus at the Start of the fiscal year resulted in the $2.9 billion deficit by the end of the year. Moreover the Gao chief said a record number of new Cha Loans issued in 1985 86 will mean More red Ink ahead As those new mortgages work through the tradition ally Rocky third and fourth years when strapped homeowners tend to sink or swim. Bowsher predicted Congress will need to appropriate As much As $5 billion Over the next several years to keep the insurance fund solvent