European Stars and Stripes (Newspaper) - January 28, 1990, Darmstadt, Hesse                                Page 20 the stars and stripes sunday january 28.1990investor s guide by Bill Doyle q. A local brokerage firm is offer ing Money Market Thrift certificate issued by an equipment Leas ing company. The certificates come in various maturities in amounts of $100 and More and pay High interest ranging from 10.6 percent to 12.25 percent for 10 Yean. I Don t have a lot of Money so this looks Good to me. I would also like to put Money into this for my grandchildren if it is Safe. Are these Money Market Thrift certificates insured by the government a. No. That s inc shortest answer. But it s Long enough if you Don t want to stray from the safety of Federal Deposit insurance such As you get at Banks savings and loan associations and credit unions. The High interest on those certificates should have tipped you off that there is risk involved. My advice is to leave those certificates to people who can afford to lose Money. In a Deal such As this a leasing company raises Money by Selling those certificates. The company uses that Money to buy equipment and leases out the equipment. Virtually any kind of equipment might be involved in the leasing ranging from Kitchen stoves to restaurants to jumbo Jet aircraft to airlines. If All goes Well the leasing charges arc High enough to meet its operating expenses pay the interest on the cer lifer Wiesand pocket a profit. But when things Don t go As planned the company might not have enough leasing income rolling in and might have to skip payments on the certificates. Dow average slides 1 18 in week amid growing signs of Bearis Ness by Chet Currier a business writer new York As they pore Over charts of the Early-1990 slide in Stock prices some Wall Street analysts say they arc starting to Sec the telltale tracks of a potentially Nasty Bear Market. Adding fuel to the bears Case that a full crack up is imminent prices last week skidded to a six month Low As investors showed increasing concern Over the out look for interest rates and corporate earn Ings. The Dow Jones average of 30 industrials fell 118.67 Points in the week to 2,559.23, while the new York Stock Exchange composite Index dropped 7.35, to 180.21. The Nash a composite Index for the Over the counter Market fell 19.55 to 421.33, and the american Stock Exchange Market value Index was Down 15.21 at 350.87. Volume on the big Board Rose loan average 181.19 million shares a Day against 172.26 million the week before. With some qualifications Many Market watchers say there have been several developments to suggest that a new generation of Wall strict cars might be headed for its first fact to face encounter with an old fashioned Bear. Bearis Ness can build and it can build loan extreme says Joseph Fishbach technical analyst at Prudential Bache securities. A Bear Market s purpose after All is to purge the extremes of the prior Bull mar  before in runs its course he predicted this Bear Market will Challenge and ultimately destroy the Long term Case for Equi  those Are Strong words for a world that has weathered in recent times both the crash of 1987 and the big break in Stock prices that occurred last oct. 13. Analysts Point out however that both those declines were As Short As they were severe and soon gave place to recoveries that carried stocks to new highs. What is More they say the sudden 1987 and 1989 declines could be seized upon As an Opportunity for bargain Hunting in stocks where earnings prospects had t materially changed. Now Many analysts argue Stock prices May be falling without getting much cheaper because corporate earnings Are slumping badly too and in Terest rates arc rising at the same time. Rising rates increase yields on inter est bearing securities that compete with stocks for investors favor and thus re Duce the relative Appeal of Stock dividend payouts. Recent Price declines have not restored fair value to the Stock Market argues Abby Joseph Cohen strategist at Drexel Burnham Lambert in a current Market commentary. Corporate profit reports for the fourth Quarter of 1989 have thus far contained More disappointments than Posi Tive surprises and consensus expectations for 1990 continue to move lower. We nonetheless believe that these profit forecasts Are still too  for a prime example of a modern Bear Market Many analysts cite the 45 per cent drop in Stock prices Over a Span of More than 20 months from january 1973 through Early december 1974. In the subsequent recovery it took the Dow Jones Industrial average nearly 10 years to surpass its Early-197 3 peaks. Bui even in that relatively recent Era. Wall Street communications and order processing systems were primitive by to Day s standards. Analysts see other reasons As Well Why a Bear Market at the outset of the 1990s, if one is indeed under Way need not take so Long to Complete. For one thing i by say markets com Mand greater attention from government policymakers these Days As a de regulated influence on the Well being of the country As a whole. Should the Economy slump further along with the Stock Market say economists David a. Levy and s. Jay Levy in Chappa qua n. Y., its carnage and the resulting financial crisis would command the Federal Reserve s attention ahead of All other  bankruptcy filing Santa Rosa Calif. Up fran Cis Ford Coppola director of the god father and apocalypse now and his oct rope productions have filed for bankruptcy Protection in Federal court. San Francisco based oct rope productions listing $28.8 million in debts and $22.1 million in assets sought Protection and reorganization under chapter 11 along with Coppola. Coppola s personal filing doing business As Sophia properties and Nicum Coppola estates does not list assets and debts. 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