European Stars and Stripes (Newspaper) - February 28, 1991, Darmstadt, Hesse Thursday february 28, 1991 the stars and stripes b Page 17 7 a a a a. Money matters . Bean the mail order company is ending its 79-year tradition of shipping merchandise for free because of increased shipping costs. Starting this summer the company will add a $3.50 charge to each order regardless of How much a customer buys spokeswoman Catherine Hartnett said. . Bean expects rate increases by United parcel service and the . Postal service to add about $13 million to its $37 million a year postage and delivery costs. The company does a brisk business with service members overseas conversion rates London up wednesdays closing rates for the . Dollar to other currencies. Figures Are expressed in dollars to the other local currencies in dollars 1. Gold was quoted at $359.80 an ounce Silver at $3.62. Feb. 26 a feb. 27 . .1.1.9155. A 1.915 German Mark. 1.5280 1.5215 French franc. 5.1755 5.1755 dutch Guilder. .1.71. 1.714 belgian franc .31.42 31.38 italian lira. .1,130.90 1.136.50 Swiss franc. .1.3090 1.3165 greek drachma.162.98 163 20 turkish lira. .3,294.40 3,310.70 saudi arabian Riyal. .,.,.3.7503 3.7503. Spanish peseta.94.31 94.60 portuguese escudo. .,.132.68 132.88 Canadian dollar.1.1529 1.1510 austrian schilling.�?z.10.666 a 10.6975 norwegian Krone. 5.93 5.9430 danish Krone. 5.8290 5.8390 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some idea of daily currency fluctuations. A the Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.49 thursday based on wednesdays noontime Price fixing. New York Exchange new York up a the 15 most Active stocks in new York Stock Exchange composite trading on tuesday. A a. 1 Stock Boeing co Philip Morris Ltd corp ism corp Norwest corp Pepsico inc prime motor inn. Rwjr Nabisco it Baker Hughes genl electric Phillips petrol. Schering plough Ford motor co Glaxo holdings Upjohn co Sale 2.838.200 2.691.500 2.673.700 2.227.000 1.819.000 1,662,600 i538,700 1,528,100 1,521,400 1.336.000 1.305.700 1.267.700 1.267.500 1.235.200 1.225.500 a ust 46 % 66% in 129% 24 % 32 %. 1%. 8% 28% 68 a 26 a 48% 29% 35% 44 net chg. Off % off 1 % up i off 3% off 14 off up % unch up a a off 1 a. Up % off 1 % off % off 1 a up 1 american Exchange new York up a a the ten most Active stocks in american Stock Exchange composite trading tuesday. A. Stock Conti air Hodgs Energy service n3bors Industry Dow chemical it Amdahl corp a foundation hath fruit of loom a a sonics inc Bat industries Echo Bay mines sales 1,169,600 789,300 430.000 336.700 313.000 303.700 293,600 267,500. 262,600 261,200 last 3 2% 6% 4 15% 23% t1 % 315-16 12 a 7% net chg. Inch up off up % off a a up unch unch off 5-16 up % Quot Dow Jones new York up a Dow Jones dosing Range of averages tuesday a 30 industrials 20 transport 15 unities 65 Stock High 2895.30 1122.71 215.86 1033.96 Low 2840.10 1100.85 212.34 1014.57 close 2864.60 1108.78 213.09 1022.08 change Oft 23.27 0 119.04 off 3.08 off 12,07 Grumman pact to update f-14s cancelled by Navy by John h. Cushman or. I the new York times Washington a Grumman corp. Said tuesday that the Navy had cancelled its contract to modernize existing f-14 fighter aircraft. The move will save the Pentagon nearly $1 billion and will Cost the jobs of hundreds of Grumman employees Many of them on Long Island. Congress had approved about $988 million to upgrade 12 aircraft with newer computers for the weapons systems better radars and new engines. That configuration called the f-14d, involves older f-14s, some of which were built 15 years ago. A a few weeks ago the Navy said it intended to Stop the program in the 1992 fiscal year which begins in october. Means that the end will come sooner than Grumman had expected. The Navy has hundreds of f-14s service and the cancellation of the program will have no effect on operations in the persian Gulf. More than 100 of the Carrier based f-14 tomcats the Navy a primary fighter plane Are being used there cancelling the program the Navy expects to save nearly $16 billion by 1997, according to budget documents. The company which has Strong support from Long Island congressmen had planned to fight the Navy a approach during the congressional debate Over next years military spending Bills. The company repeatedly urged the Navy to spend the Money that Congress had already provided. A while there has been much speculation concerning what action would be taken by the government the actual termination came As a major disappointment to us a said Robert j. Myers Grum Many a president. A the Early Impact on our work Force is expected to be several Hundred jobs lost although the Longe for term effect is being a a Grumman said that More than 4,100 people work on the f-14 program but Chrysler Detroit up Chrysler corp. Said tuesday about 1,100 hourly workers at its jeep Plant in Toledo Ohio and its engine Plant in Kenosha wis., will be in definitely idled starting next month As the company reduces output at Toledo in May and ceases production of its grand wagoneer Model after 29 years. Toledo a 4,900-person hot Fly work Force which also makes the jeep Cherokee and Comanche vehicles will be Cut More than 20 percent. About 630 hourly workers at the main Toledo Plant also will be Laid off starting May 3 As Chrysler reduces output 11 percent effective May 13 because of the slug f-14 tomcat sources Jane Sall the worlds. Aircraft Many of them Are involved in building new planes not converting the older ones to the latest Model. So most of them will not be affected by the Navy a action. Only a fraction of the Money that would have been spent modernizing the older f-14s would have gone directly to Grumman. But Many of the subcontractors involved in the work aircraft co., a unit of pm Hughes electronics corp., and general electric co., also employ people in the new York area. V a a a a a Grumman with Headquarters in Beth Page on Long Island employs 26,100 and had revenues last year of $4 billion. The entire f-14 business accounts for about 20 percent of its sales. Quot Grumman is scheduled to deliver 24 a amps. Susan Harris new f-14d fighters to the Navy by next year. But the new construction program is scheduled to end at that Point. Grumman is Likely to continue fighting for the air planet a survival in the debate on the military spending Bill. 1 a defense Secretary Dick Cheney has indicated that Congress will debate this Issue and we will do our Best to make certain the f-14. Story is fully understood a Myers Navy wants to replace the plane with a More modern fighter that is harder for radar to detect. But the Navy a program to develop such a plane tentatively called the advanced tactical fighter was also cancelled last year because of Cost overruns and it is not yet Clear what new plane will eventually be purchased. Jeep production Gish automotive retail Market. A another 360 workers who make the jeep grand wagoneer at the newer Stickney Avenue Plant in Toledo will be indefinitely idled when production of the grand wagoneer ends at the close of the 1991-Model year. Company spokesman Doug Nicoll could not. Say when those workers May be let go. That Plant has been idled since dec. 17�?Tand has worked Only nine of the 20 weeks so far during the 1991-Model year that started oct. 1. Production is still slated to resume the week of May 20, Nicoll said adding that no decision has been made on whether to permanently close the 516,000-Square--foot facility. A Laid off hourly employees May receive up to 95 percent of their after tax income through a combination of Chrysler supplemental. Unemployment benefits and estate unemployment compensation Ivene. Fits. Chrysler will continue most health care coverage for up to 25 months depending on length of service. Chrysler announced last july it planned to Transfer production of the wrangler from its Brampton Ontario Plant to Toledo in 1992, and announced new seven year contracts that go into effect that year in a show of commitment to its Toledo operations. In pay some in Washington a amps the environmental hardship rate for government civilians working in the easter province of saudi Arabia and Riyadh has been reduced from.25. Percent to 15 percent of an employees base pay a state depart ment spokesman said tuesday. The Rev auction took effect feb. 10, he said. The environmental hardship rate is in Sentive pay to encourage people to work in foreign areas the official said. The rate was 20 percent for the Middle East area before the Gulf War started. On Jan. 24, it was raised to 25 percent. At the same time department officials approved danger pay equal to 25 percent of an employees base salary for civilian workers in the area. The decision to reduce the hardship rate was made to avoid granting dual credit for danger factors the official said. Both allowances Are subject to Federal income tax non appropriated fund employees who w Ere hired overseas and some local hires Are also eligible for the same danger pay granted to other Federal civilian workers said Carl Burghardt that Pentagon a no appropriated fund personnel policy director. Allowances for locally hired . Citizens Are determined by the head of the component he a
