European Stars and Stripes (Newspaper) - May 13, 1991, Darmstadt, Hesse                                Monday May 13, 1991 the stars and stripes a Page 17today s tip front seat passengers in the new Saturn corp. L2 automobile Are vulnerable to so Rio  he a d i no Ury in a wreck at speeds of 35 Mph or faster according to a government report. The Saturn Sedan placed last for passenger safety and next to last for Driver safety among eight cars in its weight class in. Crash tests conducted by the n at Ion a i High Way traffic safety administration. Saturn is a subsidiary of general motors corp. Saturn spokesman Mark Tanner however noted that the car passed the Agency a 30-Mph crash a test which is mandatory for any car sold in the United states. Conversion rates London up fridays closing rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars. /. Did was quoted at $356 75 an ounce Silver at s4.04/. / British Pound ,1.7065 1 t.7160 a German Mark Quot a. 1.7245/ French franc. A 5 8650 dutch guilder.1 9455 1.9525 a Quot belgian franc. I i i ,. Italian lira 288.20&Quot 1,283.60 a Swiss franc -1,46i. 0 greek drachma188 40 18915 turkish lifa., a a .,.�?z,v3.933.90 a 3,964.60 saudi arabian Royal. A a. A 3.7503 3.7503 Spanish peseta ,.,06 60 .107,04 a portuguese escudo. .148.50 a 151.04/ Canadian doilarl.,.1.1502 ,. -1.1524, austrian Schilling 12.104 a 12.195/. Norwegian Krone. .,6717 6735a. Danish Krone .,�?��?�6.6056.620 a a these arc 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 1.69 through 1 monday based on fridays noontime Price fixing. Luxury Ca r sales plummeted 45%  91 i ,._ l i r 1 / 1 a. R a a i Washington a luxury car sales fell by 45 percent in the a first Quarter of 1991 because of the recession and a new tax on Auto mobiles that sell for More than s3q,000, the head of a foreign automaker group says. _ the decline proves that the big three . Car1 manufacturers a general motors corp., Ford motor a a co. And Chrysler corp. V Arentt the Only ones with problems said Walter Huizenga president of the american International automobile Deal / cars association. His group represents 9,700 foreign car dealers. Quot a business has just gone right through the floor a he said at a news conference held before the groups a annual legislative meeting begins this week. Topping the list of issues on the Agenda is repealing the luxury tax imposed last fall As part of the five year deficit reduction Law. R the Levy a 10 percent of a cards Purchase Price above $30000 a was viewed As a Way to get More. Money from the Rich Huizenga said. Instead he said it has Hurt sales so drastically that dealerships have closed and 3,700 employees have lost their jobs. You Are potential millionaires financial adviser tells students by Jan m. Rosen the new York times 1 when St eve . Sanders was a kid. His parents were about to buy him a pair of cheap sneakers instead of the terrific pair be wanted he bargained with them. A a give me the Money you were going to spend a he said a and ill earn the difference a they accepted. He got a paper route and cleaned out a Mayonnaise Jar to put his Money in. He got those sneakers but it was Tough. A couple of times the Money in the Jar proved irresistible.,./. A maybe you should have glued the top on a suggested a student at Julia Rich Man High school in new York where Sanders told the Story recently. 1 that girl is on her Way to financial Success a life of setting goals and achieving them instead of living from paycheck to paycheck with some fancy footwork in  now a partner in the Philadelphia firm of Hunt Sanders financial advisers recently concluded a Nat Ion a 1 to u r of High school s w i t h visits t o six in new York including two in the South Bronx two in Manhattan and two in Jamaica Queens. Next fall he will begin another tour. A. A there arc two types of people a Sanders said. A those who save first and spend less and those who spend first and save  a a the ones who save first get the right sneakers. The great prom night and later the cars they want the apartment or House the vacation and finally the comfortable retirement instead of depending on family members Charity or. State age pics to do 75�?~percent of today a people Over age 65. R a a you Are at the most Advani Ageous financial period of your life Quot Sanders tells students a living at Home with no debt a lot of adults would be jealous Sanders pitch is that it s possible to set r financial goals and achieve them by living within a budget and avoiding impulse purchases. In an interview he added that it would really help if parents worked with students even Young ones to set up joint savings or investment plans starting with Small amounts of Money. A fall of you Are potential millionaires a Sanders told the students. A salary of $25,00 1 a year Over 40 years equals 51 million. Of course much of it has to go for necessities such As food clothing and shelter and taxes take a slice but some of. It can be earmarked for the big purchases and saved for the important things in life. The a people whose financial lives Are out of control suffer from a a spender a disease a he said the allowing Are the symptoms difficulty paying Bills on  never having enough Money tar emergencies 1. A Little or no savings or investments. A total debt in excess of 20 percent of annual income excluding student Loans or mortgages. 1 a living from paycheck to paycheck. A unhappiness at Home or work ,. A feelings of frustration tar not having the tilings one wants like a credit card new car or vacation. Sanders also has a prescription for spenders disease. A pay yourself first Quot he said a i never met anyone who could not save $ i a Day a simply by forgoing a soda and a snack for example. 1 he noted that after 25 years. $1 a Day invested at 5 percent would grow to $17,940 at 10 percent $4 1,137 and at 15 percent 598,522. The differences 1 in those figures show the Long term effects of compounding and illustrate the importance of getting a Good return on investment but that a a. More advanced subject for students Yho have mastered the first lesson and started to save. A but 1 want to live for today a one student objected a not just tar  right a life with Good financial balance includes pleasure today As Well As savings tar the future Sanders agreed and it Means establishing a Good credit rating and learning to use credit wisely for big purchases like a car or House. But All of this involves setting personal goals1 and budgeting tar them not impulse buy ing. Sanders school tour was sponsored by Citibank Mastercard tend visa As part of its consumer education program. Ticket brokers turn state lotteries into nationwide numbers games by Ashley Dunn the los Angeles times driven by state lottery jackpots skyrocketing past the $100 million Mark a new. Breed of entrepreneur and con Man h As emerged across the e country Ere a t ing Cvar exp an Ding gambling networks that arc to Ming state lotteries into National numbers games. A a 1 they Are commonly called out of slate ticket brokers and for a fee a usually double the Normal ticket Price a they offer lottery players the Opportunity to bet on games in almost any state. It i is considered illegal by most states but through a variety of ingenious methods relying on computer networks �?o900�?� pay Telephone numbers and convenient interpretations of Law ticket brokers have proliferated becoming gambling a newest growth Industry. And the brokers most of whom see themselves As honest entrepreneurs serving a Public need have been the conduit for an increasing number of big lottery winners including Melvin Oliver a Pennsylvania maintenance Man who won $12 million in the Quot California state lottery with a $2 ticket bought in Philadelphia. But they also have been involved in some of the most dubious episodes yet connected with the lottery. Last month a ticket purchased through a Chicago broker won a 512 million chunk of californians record breaking $119 million Jackpot. The broker however apparently mailed copies of the same ticket to two men who Are now fighting Over the prize in Federal court. 1 a lottery and police officials say the spread of brokering agencies has brought new he adar h is Ove r c i m e and con us me a fraud a As Well As worries of increased  some gambling observers say the broadening Sale of state lottery tickets around the country is inevitable. They say the seemingly insatiable Public demand for bigger jackpots and the drive of the Good old american entrepreneurial spirit it is pushing the modern lottery from being a pastime of the states to a National addiction a a it a already beginning to happen a said gambling Law expert Nelson Rose professor at Whittier College school of Law in los Angeles a this is free Enterprise. Its the a american Way / Rose one of the nations few teachers of gambling Law said ticket brokers have existed since new Hampshire launched the first modern lottery in 1964. At the time entrepreneurs from new York City and Boston seized the Opportunity to buy new Hampshire tickets and sell them at a profit to lottery hungry gamblers out of state1 in the last live years Small time operators have evolved into Large franchises that stretch Over Many states and offer a Chance at virtually every big drawing in the country. There Are now scores of brokers around the country 1 largely concen / rated on the East coast. , owner of key lotto systems of new Jersey said tire proliferation of t i Ciket b Roke is is a n a t u a i o u growth o f the number and size of modern lotteries. In 1981, the re we re 14 state lotteries generating $2.4 billion in annual sales it according to gambling and wagering business. A. Trade publication. Today there Are 36 lotteries with $20 billion in sales 1 a a athe brokers have no idea what share of the total they sell although they arc certain it is minuscule. Even so they say a tiny portion of $20 billion is nothing to t scoff  l a a a Hal said his fledgling company has sold More than 130,000 ticket in six months with just 37 terminals in Connecticut new York and Pennsylvania he is planning to add 200 More terminals in new York this year,.which.would make his firm one of the largest ticket brokers in the country. Slate lottery and police officials warn that hot everyone is As Lucky As Oliver. Consider the Case of the filibeto Garza or. Of Santa Elena Texas. Garza bought $60 Worth of tickets for the april 17 drawing of californians lottery from the . Lottery group of Monticello Iii. One of his tickets was a $12 million Winner. The problem was when the company sent a photocopy of / the ticket to Garza it apparently sent a  the same ticket to another Cus a Tomer Steven Colvin a Carpenter from Richmond a. Colvin filed suit april 26 in . District court in Chicago where a judge has temporarily blocked payment of the Jackpot to anyone. There a also talk of by by night brokers who collect Money and then disappear or operators who hand out worthless receipts for tickets never purchased. -