European Stars and Stripes (Newspaper) - August 19, 1990, Darmstadt, Hesse                                Sunday August 19, 1990 the stars and stripes Page 13 Trade figures glow but Buck still hits new Low the Dollar Slid to an All time Low against the West German Mark last week As even the Best american Trade deficit report in seven years failed to Rescue the beleaguered Buck. Currency a eaters shrugged off the chances for War in the persian Gulf which some analysts believe could be a Short term boost for the Dollar and focused instead on growing evidence that the . Economy is about to be mired in a period of  Nasty combination of a stagnant Economy with weak consumer spending coupled with rising inflation and a Steep increase if Oil prices would be a bitter Pill for . Service members. Overseas to Swallow. Its the perfect scenario to keep the Dollar locked in its worst trading Range since the West German Mark came into being 42 years years ago. Late Friday afternoon the Buck was trading at 1.5514 Marks in Europe after hitting an Al time Low of 1.5485 Marks earlier in the Day. The . Military Exchange rate was set for the weekend at 1.52 Marks for a Dollar a loss of 5 pfennig on the week. And As if you have to be told that a another record Low. Randy Mcclain the Dollar is also faring poorly against the British Pound and other european currencies. Late Friday in the United kingdom i Pound was Selling for just Over $1.91. The military Exchange rate for the weekend in England was set even higher at $1.95 for a Pound based on a late afternoon Price fixing at merchants National Bank. Quot basically sentiment is very negative for the Dollar despite what is going on in the persian Gulf a said Ian Amstad an economist with the Chase investment Bank  and other currency analysts said the news Friday that the . Trade deficit for june shrunk to a Mere $5 billion from the $7.77 billion deficit posted in May was of Little help to the Greenback. Of greater importance was the news on thursday that . Consumer prices Rose a higher than expected 0.4 percent in july. That report fuelled inflation fears in in the states and kept currency dealers bearish about the Bucko a future. Discounting food and Energy prices . Inflation is already running at an annual rate near 6 percent and the picture May get worse Amstad said. The London analyst said the . Federal Reserve is still Likely to lower interest rates in the next few months in an attempt to steer the weakened . Economy away from recession but the i de May have to accept higher inflation figures than it would like after making that move. The Choice of keeping interest rates at the 8 percent level where they now stand though is probably not to the feds liking either Amstad said. Industrial production and Job growth in the slates Are lagging of Laic and lower rates Are needed to give Industry Sherton the Arm he said. Amstad predicts the Dollar will continue to weaken bit by bit As the rest of the year unfolds. It see a firm base being established against the Mark of about 1.50,�?� he said. A so i think we re close to the  in England he sees the Pound rising to the High $ 1.90s before year end. The most Likely scenario in the persian Gulf at least for the time being is a continued stalemate with both the United states and Iraq suffering economically he said. Surprisingly Amstad does no to see the Dollar gaining any ground even if shooting starts in the.  said War with Iraq might just serve to increase the . Budget deficit devour the peace dividend expected to result from troop cutbacks in Europe and further erode Confidence m the american Economy. The Star and stripes business news airline jobs Tough to land by Randy Mcclain. Financial writer military pilots hoping to take off on commercial airline careers May find the Competition for those jobs lightening in the next few months Industry observers say. A with the Oil crisis in the Middle East and the . Economy being the Way it is demand for air travel May slow Down Quot a and with it the airlines need for new pilots said Wes Powell a spokesman for inc future aviation professionals of America in Atlanta. Quot there Are still jobs to be had but it will be a very competitive  earlier this year most analysts predicted Strong growth for the airline Industry but some fears have surfaced of late that americans will Cut Back on air travel if a recession hits the United states. Trouble in the persian Gulf is also pushing up the Price of Jet fuel and that Means some airlines might not be Able to add As Many pilots to their payrolls As originally planned. Powell a organization a Trade association that keeps tabs on the Job Market said he originally expected 8,000 new  be hired by the major airlines this year. But because of the new strains papa now projects that Only 5,000 new pilots will be hired by years end As the airlines try to trim costs. That would be the lowest total of new hires in the Industry since 1983, and 45 percent fewer new pilots than were added to payrolls last year Powell said. _ despite the abrupt turnaround in the employment picture this summer however papa arid several airline Industry recruiters said the �?T90s still appear to be a Good decade for pilots. Approximately 20,000 experienced pilots should reach retirement age Between now and 2000, Powell said. For the time being at least two najor airlines Delta and american Are continuing to hire pilots at a brisk Pace despite jitters about a recession. And both companies Are particularly interested in former military pilots. Roughly 90 percent of both companies Pilot recruits have had some experience in the air Force Navy or army during their careers and Many arc hired directly out of the military spokespersons for Delta and american said. Military pilots generally get High Marks for their training their ability to take command and their experience in working As part of a group Powell said. Judy Tarver the manager of Pilot recruitment with american airlines said her company will hire 864 new pilots this year about 15 percent More than last year. The continued hiring Boom is being fuelled by the retirement of older pilots and expansion of routes Tarver said. At Delta spokesman Marvin Johnson said 850 new pilots Are being hired this year an increase of 100 pilots Over 1989. A you always have to watch the general Economy but with our expansion plans and the equipment we have on order i done to expect any changes in operations at this time a said Johnson who is Delta s assistant vice president for employment. Some other airlines Arentt nearly so confident. A spokesman for . Air said the economic embargo levied against Iraq has driven up fuel costs and helped persuade the company to initiate a hiring freeze. A when Jet fuel goes up one cent it hurts our Bottom line by $13 million annually a the spokesman said. Powell said Northwest airlines has also announced a freeze on hiring and United airlines is hiring pilots in limited numbers. Capt. William Traub vice president of flight standards and training with United said his company Likely will hire around 550 pilots this year after employing 1,123 a the most Ever a in 1989. Traub said the demand for new pilots should Bounce Back later in the decade although he said some Belt tightening is possible a if fuel prices  Powell said he doubts United will reach the hiring goals mentioned by Traub a United told me three months ago they were going to Start hiring 100 new pilots a month and they Haven to done it yet a the papa official said. The slowdown in hiring pilots this summer comes on the heels of a 1989 employment season in which More pilots were hired by the major airlines than at any time in the past 20 years. The papa said 9,086 pilots were added to payrolls last year. One bit of positive news for Job applicants is that some signs indicate salaries for new pilots Are creeping up again after several years of Cost cutting by major earners. Must major airlines created a Quot a lev do salary schedule Pilot Fob Market Iota number of new Pilot jobs for major. American airlines a for the years 1986 to 1990, 6,787 6,000 6,6 a a. 9,086 1986 5,000 projected 1987 1988 1989 1990 source future aviation professionals of America us is Wes Hoot or Ines is rapid a the papa Ter 20 or 30 years to Fly the with the Onset of deregulation in the 1980s, allowing newly hired pilots to be paid at a lower level than longtime employees Powell said. Starting salaries slipped As Low As $25,000 a year on average and pilots were required to slay on the a Scatch from five to n inc years. But Powell said pilots with a number of carriers have been Able to negotiate More attractive pay packages of late. For example Della pilots in recent talks were Able to reduce the Lime an employee must spend on the Quot a scale Quot from five years to three and pilots with american airlines arc pushing fora similar arrangement Powell said most military pilots will have to take a Cut in pay when they first jump to commercial cockpits but airlines salaries arid benefits will eventually outstrip those available in the military. Quot a Guy that s been in the service a minimum of seven years will have to take a Cut in pay when he comes out but pay progression with the Airl official said Quot if you have not commercial airlines have great Appeal a an International Captain on a Jet aircraft can make $200,000 a year after 25 years of service Powell said. Pilots in their fifth or sixth year of service can earn up to $80,000 a year he said. . Investors warned about Gulf con artists Washington apr Consumers should beware of fast talking con artists seeking to exploit the crisis in the persian Gulf to peddle bogus Oil Gas and precious metals investments a nationwide regulators group has warned. A today the swindlers Best Friend is a headline or television news Flash out of the Mideast that threatens a disruption of Oil supplies to the United states Quot said Susan e. Bryant president of the North american securities administrators association. Nasal an association of state level securities regulators has issued an investor Alert warning Small investors about the latest scams lied to current headlines. The nasal announcement cautions that Crooks using High pressure Telephone sales from temporary operations known As Quot boiler rooms Are trying to entice investors with offers of Oil partnerships that can be purchased for As Little As $5,1 00. But nasal advised the Wells being promoted often do not exist belong to someone else or Are dry. A investors should realize there Are hundreds of High pressure Telephone sales operations in the United slates that will be burning up the phone lines with these kind of pitches for non existent or bluntly abusive in vestments a Bryant said. Investors should not give Inone to strangers who Eon Tael Ihm by phone nasal said