European Stars and Stripes (Newspaper) - April 1, 1990, Darmstadt, Hesse                                Page 18 a the stars and Stripe business news Peter Lynch retirement causes jitters the impending retirement of Peter Lynch As the brains behind the hugely successful Fidelity Magellan Mutual fund has made Wall Street investors and even financial consultants in Europe jittery about keeping Money in the fund. Lynch who guided the now $13 billion fund to remarkable returns for most of the past 13 years announced last week that he plans to step Down in May. Estimates Are that his salary and bonuses could have been $10 million a year. He also made a lot of Money for the people who invested in Magellan. It was the top performing Mutual fund of the 1980s. The big question for investors of All sizes now is whether to keep pumping Money into Fidelity Magellan after the 46-year-old Lynch leaves to devote More time to his family and several charities. A number of investment advisers in Europe some of whom touted Magellan during its heyday think the time has come to put investment dollars to work elsewhere. A five or 10 years ago this was the Best place to put your Money. Today no a says Don Womack a financial consultant in Frankfurt West Germany. Womack thinks Magellan has got too big it owns about 1,400 stocks and too difficult to manage. He doubts that the Man who takes Over Lynch a Job will be Able to keep a Riding that bucking Bronco. At some Point its going to take a dive a he said. His advice to investors �?o1 lean toward shifting my Money into something  Lynch became the Joe Dimaggio of Mutual fund management during his tenure putting in seven Day 70-hour workweeks while building Magellan a holdings from just under $100 million when he started to today a $13 billion. In the past 10 years investors in Magellan pocketed total returns of 28.5 percent per year far better than the Stock markets Overall performance for the same period. A the had a very commonsense approach and a certain amount of intuition a said Mark Kelly a Mannheim West Germany investment adviser who also thinks the time might be right to pull out of Magellan a at least for a few months until its future becomes clearer. Martin Van Leven a financial adviser in Vil Seck West Germany is even More emphatic about pulling out. A if i had Money of my own in Magellan id Transfer it into a Money Market fund a he said. A the fund manager is the person who determines what a Mutual funds performance record will be a and in Vanleuven a View the manager who succeeds Lynch is a going to be catching a Tiger by the Tail. It will be  Womack agrees that Lynch a Wall Street legend May have built a Mutual fund giant that no other Mere mortal will be Able to handle. Not Only docs the Magellan fund have an unusually Large number of individual stocks in its portfolio but Lynch moved them in and out at a dizzying Pace. In the past year 87 percent of Magellan a stocks were changed according to published reports and Womack said that a a dramatic turnover rate for a Mutual fund As Large As Lynch a. A a there a been an unbelievable amount of buying and Selling going on a All under the direction of one individual a Womack said. A that frightens me a  still not All investment consultants in Europe advise bailing out. Quot the kind of Success Magellan has experienced is never the result of just one persons efforts a said Warren Stanley a longtime financial adviser who works in the Frankfurt area. A the did no to do it All alone and anyone who thinks he did is a Little bit naive. A the philosophy of that fund goes beyond Lynch. Id keep a close watch on what happens but i  panic Quot he said. A i  jump  the St and strip Randy Mcclain cafes theater attendance sags despite cheap tickets by Randy Mcclain financial writer Munich West Germany a cafes gambled last october that it could entice More moviegoers into Heaters on military installations in Europe by reducing the Price of tickets to $ 1.50 for most films. But after several months of experimenting with bargain prices the Exchange service appears to be a two time loser. Attendance has continued to Sag falling by almost 4 percent in october through january when compared with the same months a year earlier. And the Exchange service has lost More than $ 1 million in Revenue largely because each ticket sold brings in less Money than it used to. Refreshment stand sales Are higher than a year earlier but that Hasni to come close to making up for the paltry ticket sales. A originally there was some thought that our cutting prices would be a Panacea a said Charles Poffenbarger director of the food and services division at cafes Europe Headquarters. A but you done to Cut prices by 33 percent without some  the average ticket Price to an cafes movie was $2.25 last year before bargain rates were introduced in Early october. Since then tickets to All except first run features have Cost $1.50 for adults and $1 for children. First run films which make up roughly 25 percent of the Exchange services offerings still Cost $3. Surprisingly the first full month that lower prices were in effect proved to be a bust. Only 278,361 patrons bought tickets in november 1989, the third poorest monthly showing in the past two years at overseas Heaters. Poffenbarger said cafes has fought against a decline in movie attendance for at least the past decade and the end of the Battle Isnit in sight. Between 1979 and 1989, theater admissions in Europe fell from 12.4 million to 3.8 million a decline of 69 percent. Last year attendance in Europe was Down 13  blames videocassette movie rentals and other entertainment options for the poor showing at Heaters. That trend is especially evident in the United states. The motion picture association of America reported in february that movies on videocassettes brought in More Revenue than Heaters did in 1989 for the third consecutive year. Despite such news Poffenbarger and per Jensen a a amps Jim Durheim the cafes theater in Darmstadt West Germany has seats to spare despite the $1.50 bargain  the movies cafes slashed the Price of most movie tickets by one third last october in an attempt to boost attendance. So far it Hasni to worked. Year oct. 88-Jan. 89 oct. 89-Jan. �?~90 oct. 88-Jan. 89 oct. 89-Jan. 90 oct. 88-Jan. 89 oct. 89-Jan. 90 oct. 88-Jan. 89 oct. 89-Jan. 90attendance % 1,397,545. 1,344,346 -3.e% ticket sales $3,100,923 $2,163,198 -32% refreshment sales $1,125,142$1,486,637 24% total Revenue $4,306,065 $3,649,835 -15% a amps Sharon Kilday motion pictures specialist with cafes in Munich said they Haven to Given up on $ 1.50 movies in Europe yet one encouraging sign is that attendance in december and january went up 15.2 percent when compared with the same two months a year earlier and cafes officials Hope that Means bargain tickets May finally catch on among the films shown those two months were Academy award Best picture nominee a afield of dreams a a Aback to the future ii a a lethal weapon 2�?� and  some heavyweight films were on display last november too including a dead poets society Quot and Spike Leeds a do the right thing a but people still stayed away in droves. Jensen said the poor november attendance defies logic. One explanation is that service members heard cafes was cutting movie prices to $ 1.50 and assumed that meant the Heaters would no longer be showing any Good films a i believe that perception played a significant role in this equation a he said. . Scanapico chief of a fest a theater Branch at worldwide Headquarters in Dallas Isnit sure what to think Scanapico said the Exchange service simultaneously slashed ticket prices in Europe and the United states last fall. The new policy was aimed primarily at helping on base Heaters in the United states compete with bargain matinees and $ 1 movie houses right outside their Gates. The move has worked Back Home. Attendance at on base Heaters in the United states has gone up 29 percent since the debut of $1.50 tickets the Exchange services film Boss said. Scanapico said he Doest know Why the results in Europe Are just the opposite. Scanapico wants to try $1,50 movies in Europe a Little longer perhaps a full year to see whether attendance improves. If it does no to pick up though he said the . Film Industry might lose Faith in cafes As an exhibitor. A their interest in getting us film products quickly will Start to Wane Quot he said. That Means service members m Europe might have to wait even longer to see the movies that their friends in the states Are already enjoying. Commissary debit card to be tested by Laurie Scott. Pacific stars and stripes Washington a the army is teaming up with the Treasury department and a stateside Bank for a two year test of Bank debit cards at commissaries. The cards which would automatically Transfer Money from a service member a account to the Treasury department Are designed to Cut Down on bad checks and Speed lines at military food stores. The debit card is simple to use said Jack b. Rake the commissary officer at fort Campbell ky., where the test will be held. A commissary clerk scans the grocery items As usual. Instead of paying Cash or writing a Check the customer inserts a Bank card into a device at the counter and punches in a personal identification number. The cashier presses a Button that indicates the customer has enough Money in the Bank an a n s it the Purchase goes through. The Cash is transferred e ironically to the Treasury department which Nano military service accounts. The test which is to begin in june could pave to of i for the use of Bank cards at commissaries worldwide Dennis idol a systems accountant with the troop v port Agency a directorate of resource management. He said fort Campbell was selected As a test site because it has a Good mix of military person eluding retirees enlisted personnel and Soltice. Sovran Bank of Kentucky will Issue the cards. Idol said that the use of credit cards had �8 a been proposed. But a it just Isnit right to have Tomer charge a loaf of bread a he said