European Stars and Stripes (Newspaper) - October 17, 1990, Darmstadt, Hesse                                Page 28 a a the stars and stripes wednesday october 17,1990 news briefs promotions announced for Maddox Leland Washington a amps maj. Gen. David m. Maddox commander of the 8th inf div Mech in bad Kreuz Nach Germany has been nominated for promotion to three Star rank and reassignment As the next commander of v corps. Maddox a presidential nomination was announced tuesday by Secretary of defense  Cheney. Cheney also announced that it. Gen. Edwin s. Leland jr., the chief of staff for the . Euro Pean come in Stuttgart Germany has been nominated to the joint chiefs of staff in Washington d.c., As director of strategic plans and policy. Maddox 52, would replace it. Gen. George a. Joulwan who is scheduled to leave his corps com Taki Mand based in Frankfurt Germany to take Over the . Southern come in Panama. Joulwan commander of v corps for Little More than a year has been tapped to replace Gen. Maxwell r. Thurman who is suffering from leukaemia. Maddox an Armor officer and 30-year Veteran with two Tours of duty in Vietnam has commanded the 8th inf div an element of v corps since july 1989. He has had several previous assignments in Europe including Tours As a Squadron commander with the 11th army Cav regt and As commander of the 2nd army Cav  begins talks with soviets on Gulf crisis Moscow apr . Defense Secretary Richard Cheney began discussions on the Gulf crisis and other issues with soviet officials tuesday As a top aide to Mikhail Gorbachev left for Rome Paris and Washington on a related Mission. Cheney . Ambassador Jack Matlock and other . Officials met with soviet defense minister Dmitri Yazoo and also were scheduled to talk with Gorbachev and foreign minister Eduard a. Shevardnadze. A i look Forward Over the next few Days to have the Opportunity to visit with members of the soviet armed forces and to Exchange views with marshal Yazoo and other soviet officials about important world issues that face both our two nations at the present time a Cheney said on  prize from Page 1 reached by Telephone were a really stunned a said professor Assar Lindbeck of the swedish Academy of sciences. He said they asked about the Exchange rate Between the Dollar and the Kronor. A we All want. Investments to be As efficient and Good As possible in society a said Bengt Naslund another Academy member. Markowitz Miller and Sharpe a in different ways have contributed to giving companies such a Correct guidance telling them what capital Cost they can count on for different projects which they want to invest in a he said. Each of the winners gave a one building blocks to the financial Market theory Lindbeck said adding a the theory would have been incomplete if one of them had been  Markowitz 63, contacted at the University of Tokyo by new York radio station webs said a a in a not comfortable doing interviews in a More comfortable with a blackboard. A i Haven to really thought about the Money. But i have done the calculations dividing $700,000, giving some to various governments. It la make a Nice addition to the  Miller said his a heart stopped a bit when he heard the news tuesday morning. A a in a delighted to accept it and in a still in a state of Shock a he said. Most of the prize winners work was done in the 1950s and 1960s. Their theories began to be used in the Early 1970s, Lindbeck said. Markowitz made a the first pioneering contribution in the Field of financial economics a the Academy said h developed a theory of How households and companies allocate their financial assets under Uncertain cond i tons the so called theory of portfolio Choice. A Markowitz was rewarded for discovering a method for choosing shares choosing assets where you try to eel the Best possible yield and at the same time reduce you risks a Naslund explained. 3 Sharpe 56, built on Markowitz a theory and showed How prices can be calculated for risky assets Nastuni said. Sharpens capital asset pricing Model is a a considered the Backbone of Modem Price theory for financial Mai sets a the Academy said. The Model is used in calculating the costs of capita associated with investments and takeovers. It is Alsi used in regulating Public utilities and in court cases t decide compensation to expropriated companies whose shares Are not listed on Stock exchanges. Miller 67, showed what factors determine a Compa nyx a choices in accruing debt and distributing assets. A the theory is based on the Assumption that Stock holders themselves have Access to the same capital mar Ket As companies a the Academy said. A was a result companies do not have to adjust Thevil decisions to different stockholders risk preferences corporate managers can Best safeguard the interests of so Khz stockholders simply by maximizing the company a net  Miller initially collaborated with 1985 economics prize Winner Franco Modigliani of the United states. A your work was known As the Modigliani Miller prop-1 positions of corporate finance a Miller said. A the then won it the prize for his contributions with me but Alsol for his other work in economics. I a a they be already recognized the work once and now in a getting the other half a Miller  from Page 1 Republican gubernatorial candidate John Engler Norl gop Senate challenger Bill Schuette was Given More than a Long shot Chance of upsetting the democratic incumbents. Woman serving there now with Pride and beautifully trained every single one of them comes Home. But we must stay for As Long As it takes to Complete our  Bush campaigned in Iowa for the re election of Republican gov. Terry Branstad favored in the polls and for rep. Tom Tauke who is struggling to replace democratic sen. Tom Harkin. In Illinois Bush sought to boost the chances of Jim Edgar the gop candidate for governor who is in a close race with Democrat Neil Hartigan. Bush a last Stop for the Day was Michigan where neither meanwhile an iraqi newspaper predicted tuesday the United states will not attack Iraq before Christmas be cause Bush cannot afford to have soldiers killed during the holidays. A the deaths of thousands of american troops will certainly enrage the people in the United states and the West i who would Only curse Bush for his deeds which resulted Ini such a catastrophe a iraqis army newspaper Al Qadi Siya said tuesday in an editorial. The editorial contrasted with earlier iraqi statements that a .-led attack might be imminent and May have been intended to quell such  from Page 1 petted it a he said. A they do it in the states without telling anyone so its the same thing Here. Even though no one likes it a said pfc. Victor Molaschi of the 18th military intelligence in in Munich. Davis said cafes is in a a double crunch a getting squeezed by higher prices on the world Oil Market and a weaker Dollar. Cafes which Sells gasoline for dollars buys the fuel with Deutsche Marks. The Dollar was at 1.61. Marks on july 23, the Date of the last Price increase before the invasion. On tuesday it traded at 1.49 for . Service members a decrease of 7.5 percent. Meanwhile wholesale Oil prices have skyrocketed. Davis said cafes pays 65 cents per gallon More than it did in july a i Felt jump from 78.5 cents to $1.43v$. A spokesman for Esso in Hamburg said wholesale prices in Germany have gone 62 _ up about 62 cents per gallon a at tuesdays Exchange rate a since Iraq invaded Kuwait on aug. 2. Karl Schult Bornemann said that the prices Esso charges its retail customers such As cafes have risen at the same rate As those for its German Gas stations. Coupled with a weaker Dollar cafes has actually raised retail prices less than Esso has. Davis said the european Exchange service normally expects to make about 25 cents per gallon in profit but now is making a Little More than 16 cents per gallon. Still cafes is earning about $1.5 million a month on sales of 9.5 million Gallons. Officials said they would prefer profits exceeding the $2 million Mark. Cafes Europe relies on gasoline sales for As much As a third of its earnings which Are used for expansion and upgrade of stores and for morale welfare and recreation funds. German motorists have seen the Price at their stations increase about 73 cents per gallon about 14 cents More than through cafes. However about 11 cents of that increase reflects Germany a 14 percent value added tax Schult Bome Mann said. The average Price for super unleaded i in Germany is $3.46 per gallon. Before j aug. 2, it was $2.73 per gallon. In the United states where prices Are i much lower because of lower taxes prices have jumped to $1.53 per gallon for super unleaded a 30-cent increase since aug. 2, according to the american automobile association. I Schult Bornemann said that prices will hinge on what happens in the Middle East. A a Large part of it is the fear that future supplies will be Cut off a he said. A prices will go up if any military action takes place or the situation grows hotter i but on the other hand they will go Down if a solution is found a Schult Bornemann  event May be spooked off by animals by de Reavis staff writer Darmstadt Germany a wild animals May actually scare off the annual halloween spook show at Frankenstein Castle near Darmstadt. A so you can to drive a Nail or pop a Cork in the area without permission from the environmentalists a Krieger Schatzle said. Horst Krieger Schatzle the director of the Darm Stadt Wieburg office for construction and building safety said the annual event has been cancelled because the Castle is in an environmental Sanctuary. Promoters however Haven to Given up and Are seeking a Compromise. This was to be the 14th year of the show which was scheduled to run fridays saturdays and sundays on the last two weeks of october and the first week of november. Brian Hill the american organizer said the event has raised the ire of German government officials for the last three years. Government environmentalists ruled that the halloween Hoot would unduly frighten owls weasels and other animals that inhabit the Region. The Agency claims the animals were stressed too a first officials began complaining about our ignoring the fire safety rules then they complained about the crowds and where they parked their vehicles and now nervous animals. Lord knows what  come up with  much by last years Hurricane winds to subject them to a lid a a the cauldron of noise produced by halloween revellers. Hills lawyer Helmut Engelhard said he finds the nervous animal Story one of the lamest he a Ever heard. A nevertheless i think Well have a Compromise that will mean smaller and More controlled crowds at the Castle. We can do this by Only allowing buses in the parking lot j and pre sold tickets. That should satisfy the environmentalists a Engelhard said. Krieger Schatzle admitted the ban came late for the organizers of the event. A we had so much trouble last year before the event was approved that we warned the organizers they should consult us Early this year to avoid problems. They did no to he said. Hill said he works six months setting up the halloween Celebration but would not say How much he might lose if the event were banned. A a in a not the Only one t hat stands to lose. Gis take leave and come from All Over the country to Frankenstein. We even have Many visitors from the United states a he said. Hill said those interested in the up to Date status of the event can Contact their local Uso