European Stars and Stripes (Newspaper) - September 23, 1990, Darmstadt, Hesse                                Sunday september 23, 1990 the stars and stripes a Page 13business Newslow Dollar has people pinching cents pit Tershawn Palmer says it does no to make sense to talk to Bankers and corporate economists about How Low the Dollar has fallen. A a that a like asking a woman who a never had any children How to raise kids a the 23-year-old army Corporal said. A the Best people to talk with Are those who have to Deal with it on a daily  Palmer who works in administration in the Frankfurt West Germany military Community has been dealing with the declining Dollar since Uncle Sam shipped her to West Germany in december 1988. She a seen the Buck fall from a High of 2.01 Marks last summer to the Low 1.50s today. And the Low 1.50s Hurt. Palmer has Cut Back drastically on phone Calls to her Mother in the United states. She does no to eat out on the West German Economy any More. A night at the movies is reserved As a rare treat. And travel is a thing of the past. Those frills have been replaced by a no nonsense approach to personal finances. A a in a in a situation where you have to become a Good budgeted. Because if you done to you re not going to Randy Mcclain eat a she said. Palmer knows a lot of her friends Are pinching pennies too. A a couple of my friends Are sending their wives Back Home because they can to afford to keep them Here and the wives Haven to been Able to find jobs a the Corporal said. A if the Dollar goes any lower you re going to see a lot of people  Palmer plans to leave West Germany in december for a new assignment at fort Carson Colo. She figures the move is coming just in the Nick of time. A if i was going to be Here beyond december i  afford it a said Palmer who is eight months pregnant. Having a baby on the Way played a part in her decision to Transfer rather than staying in West Germany one More year As she had the option to do. She even put a Pencil to it before making the decision. Here show it looked palmers take Home pay amounts to $980 per month. She also gets an overseas housing allowance that covers most of her $800 per month rent for an off base apartment. After the baby is bom Palmer calculates that at least $200 every month would go for babysitting expenses plus $250 More for baby food and diapers. Utilities would Cost $65 a month and food for herself and her Fiance would run $150. Add in $50 for phone Calls to the United states and that leaves a Mere $165 a month for entertainment clothes and emergencies. Palmer said soldiers can protect themselves somewhat by spending their hard earned Cash Only at . Military shopping facilities but that gets old after a while. She figures the Money crunch is hardest to Bear for soldiers in ranks e-1 to e-4. A a lot of soldiers come into the military to get away from Home or because they re looking for a change a Palmer said. A when they arrive in West Germany though they re not prepared for the financial sacrifices they have to make. A if they have a family and live on the Economy it can affect them emotionally a she said. A a there a no Money to buy Nice things or to go anywhere. Me in be been depressed a lot of  if the Dollar would Rise to 1.70 or 1.75 Marks Palmer thinks life would become bearable for the average i in Europe. A Mark rate near 1.90 would be downright comfortable she said. But she does no to expect that to happen. A a there a just no denying it a she said. A a it a going to be difficult Over Here. There a just certain places you can to go and certain things you can to afford to do. Its just that  the 8tara and strip a bankrupt Florida Developer seeks of for discount plan by Randy Mcclain financial writer general development corp. Has asked the . Bankruptcy court in Miami Tor approval of a Home site Purchase plan that promises discounts of up to 25 percent to customers who finish making monthly payments on contracts for Florida real estate. The Complex proposal applies to the firms customers in the United states As Well As service members overseas who Are buying gds Home Sites. Gds has been mired in chapter 11 bankruptcy proceedings since Early april and its Home site proposal is part of the firms reorganization efforts. A the main thrust of the program is the Assurance that All customers who have a contract to Purchase a lot from general development will receive title to an improved lot once they finish their payments a gds president Thomas Hutchison said. Go cd a ability to deliver improved lots has been questioned by customers for several months because of the bankruptcy Case. Many customers have stopped paying on Purchase contracts out of fear that gds wont survive. Under the plan unveiled in court on sept. 14, All purchasers of lots in gds developments will be offered a discount if they fulfil their Purchase contracts. The discounts will Start at 5 percent for customers who bought their lots for a Purchase Price of $18,000 or less and will Range up to 25 percent off for customers who bought lots for $25,000 or More. Customers Are also being offered an extra 10 percent discount if they pay off their lots in full immediately upon the bankruptcy courts approval of go cd a Home site plan. The real estate company a proposal also includes a lot Swap package that would allow customers who Are paying on Home Sites that Arentt yet finished to Trade that lot for another lot in a development with roads and other amenities already in place. The lot Swap idea is designed to reduce the amount of Money gds will have to spend to finish developing its residential communities. Gds has residential developments in a number of Florida communities including port Labelle port Charlotte North port port St. Lucie Vero Beach Highlands Vero shores port Malabar Sebastian Highlands Silver Springs shores and Fulington Creek. The Sites stretch from near Jacksonville in Northeast Florida to near fort Myers on the Southern Gulf coast. Gds officials said the lot Swap program could save the company $211 million in development costs by allowing the company to skip Road work in certain areas where development costs would be a Ocul arly High. For the plan to work perhaps thousands of customers would Nave to agree to Trade their lot for another but gds officials believe Many will be willing to do just that. A the program was devised following extensive customer research that showed 40 percent of purchasers would continue making payments on their contracts if they were assured that they would receive a deed to a developed lot upon completion of their  a company spokesman said. The research also showed an additional 22 percent would continue making a ments if they were offered financial incentives. A we feel this program gives our customers the be possible Way to receive a deed for a lot comparable to that in their original contract a Hutchison said. The program cannot be put into operation without the approval of the . Bankruptcy court. It could i several weeks before the plan is reviewed by creditors and acted upon by the court. In a separate development gds has worked out a new plea agreement with Federal prosecutors in Miami in connection with criminal charges against the company. Gds has agreed to plead guilty to one count c. Conspiracy to commit mail fraud in connection with a scheme through which the firm allegedly sold hoi in Florida at up to two times their True Market v due. The . Attorneys office in Miami has aligned a hat gds sold overpriced Homes after providing c Ision is with phony appraisals and steering them to a gds subsidiary for mortgage Loans. Gds has agreed to pay restitution to owners who were bilked via the scheme. A company news release said restitution claims up to a total of $ 160 million will be honoured for people who bought gds houses Between Jan. 1, 1983, and Jan. 1, 1990. About 10,230 Home buyers would be eligible to make claims under the program gds said. Under the agreement with Federal prosecutors a special master would be appointed to process Drums and obtain Independent appraisals on the property in question. After it is determined How much restitution is owed it would be up to the bankruptcy court judge to determine the total amount actually paid to customers and the terms and timing of payments. A court hearing will be held on the proposed restitution plan on wednesday. Boeing fears Industry decline could Hurt backlog of orders Seattle apr Boeing co. Executives say some of the aerospace company a giant backlog of jetliner orders could evaporate if conditions continue to deteriorate in the airline Industry. The company a jetliner order Book looks solid for the next two years but the steady flow of new orders the company has enjoyed has slowed the executives said last week. Frank Shrontz chairman and chief executive officer said the company has Cut 3,000 jobs so far mostly through attrition and May trim another 3,000 in the Seattle area by the end of the year. Shrontz and other executives also said Boeing May have to put off plans for a new 777 jetliner unless an adequate customer base is found by the end of the year. Boeing does no to intend to put up Cash to help finance an employee led buyout of Ual corp., the Parent company of United airlines. Shrontz said that while Boeing is in a pretty Good shape for the next two years in jetliner orders a serious downturn in the airline Industry could Hurt. Airlines have been buffeted in recent weeks by rising Jet fuel prices tied to a feared disruption of Oil supplies coming from the Middle East. Air fares have been raised by Many carriers in response to the problem. A if the airlines get into a desperate financial situation and say a we know we be got a firm contract to take an air plane but financially we can to do it a a firm contract All of a sudden does no to mean much a Shrontz said. A if there is a significant recession then i think we be got some problems a he added. Boeing has looked at several airlines As potential customers for a new 777 jetliner but major ones such As american United and Delta have not made firm commitments. Shrontz said Boeing could use its own Money to develop a 111 through the end of 1990, but a iconic the end of the year Well have to re evaluate if Well go further on our  on the Ual buyout Issue Shrontz said an employee group hoping to buy Ual has approached Boeing and other suppliers for financial help in Exchange for orders but Boeing has no plans to put Cash into such a Deal. A we would address some financing of the program but certainly not put that into a leveraged buyout a he  branches closing for German Unity oct. 3 All merchants National Bank branches on . Military installations in West Germany will be closed oct. 3 to celebrate German unification. Yvonne Wise spokeswoman for the Bank said the move is being made in conjunction with the . Army in Europe a decision to give All soldiers a Day off oct. 3 because of the american military a role in helping to end the cold War and making unification possible