European Stars and Stripes (Newspaper) - May 15, 1991, Darmstadt, Hesse                                Today s tip toys a a re us inc., the nations largest specially toy retailer said sales at its Doc sic stores that have been open at least a year fell 4.7 percent in the first Quarter. The retailer said its Overall sales which include those from newer stores Rose .9 percent to nearly $1.03 billion from $944.8 million in 1990�?Ts first Quarter. Securities analysts and investors consider sales from stores open at least a year known As Samc Storc sales to be the Best measure of a retailers performance. Newer stores tend to have extraordinarily Strong  rates London up1 tuesdays closing rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at s357.75 an ounce Silver at $4.01. A. May 13 May 14 British Pound. .1.7295 1.7385 German Mark. 1.722 1.7026 French Ranc. 5.839. 5.81 dutch guilder.1.941 1.9282 belgian trans. ,.35.42 35.27 italian lira .1.279.95 1,273.45 Swiss franc. 1.4455. A 1,435 greek drachma. .188.38 187.36 turkish lira. .3,959.30 3.953.80 saudi arabian riyal.,3.7502 3.7502 Spanish peseta. ,.106.61 105.86 portuguese escudo. .150.14 149.00 Canadian Dollar. 1.15 1.1501 austrian Schilling .12.123 12.046 norwegian Krone. .6.702 6.658 danish Krone. .6.584 6.539 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some idea of daily currency fun Tuat ions. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.67 through wednesday based on tuesdays noontime  executive goes bankrupt los Angeles a first executive corp. Sought bankruptcy Protection monday climaxing the largest life insurance failure in the nations history. Facing billions of dollars in junk Bond losses first executive filed for chapter 11 reorganization in . Bankruptcy court in los Angeles the company said in a Brief statement. California regulators last month seized the holding company s largest insurance unit executive life in what constituted the nations worst insurance failure. Executive life insurance co. Of new York first executives other major unit also was taken Over by state regulators last month. The Parent company a longtime chairman and chief executive officer Fred Carr was removed As top officer of the California and new York units. Any plan to reorganize the companies under new ownership poses the likelihood that hundreds of millions of dollars owed to policyholders holders of annuities and other securities wont be paid. Executive life s troubles resulted from the decision by its Parent company to invest heavily in High risk Higl yield junk Bonds. Wednesday May 15, 1991 the stars and stripes a Page 17montey  Good example of troop Cut related problems by Deedee Arrington Doke and Mary Neth staff writers we Brucken Germany wanted Industry to occupy vacated . Air  would provide jobs and help stabilize local Economy of Small City near German French Border with Industry expected to have Long future and worldwide Market. No such and has yet been placed. But we Brucken City officials caught by Surprise last year when it was announced that the 738-Acrc air base is closing in. September Hope that an Industry meeting those criteria will soon materialize. A it s not very easy to just say a of the buildings arc empty and the runway is empty and now we Start filling up with Industry a Quot said Werner von blon the lord mayor. Von blon fears it May take five or six years to replace the $82-Mil-lion-a-year expenditure that the . Military has been pumping into the local Economy. We Brucken Home to a . Army installation As Well As the air base exemplifies How american military reductions will pose a particularly Large economic problem in Germany. Despite a relatively Low number of local National workers at the air base finding jobs for All who will lose their current positions Isnit easy and the broader economic Impact on the Region figures to be More severe. The state of Rheinland Pflanz where we Brucken is situated is Home to 40 percent of the american troops in Germany. At Best von blon predicted it will be a year or two before a new tenant can move into the base. A if something goes wrong it will be four five or six years away Quot he said. And a lot stands to go wrong German officials Point out. For one thing civilian personnel officials at the base Are having trouble placing German workers in other jobs. They say As Many As 125 workers May be Given jobs at nearby . Bases including Kreuzburg Cavern in we Brucken in Pir Masens and at Ramstein a but that total accounts for Only two thirds of the total German work Force at the air base. A a it a pretty tense up Here a said Jerry Oestreich the civilian personnel chief at we Brucken a. The air Force has even offered to pay relocation benefits for German workers willing to move to Distant cities where they still might work for the . Government. But there have been no takers and Oestreich does no to expect there to be. A it s not typical for germans to move outside the area where they were born a he said. Oestreich believes that employees trained in crafts and trades will have the Best Chance of Landing jobs in private Industry but he thinks White Collar workers will find it More difficult. One reason for the difficulty is because German employers View people who have worked for the . Military As a polluted a he said. The . Forces Are considered less demanding employers than private  another front a regional economic development group serving we Brucken and Pir Masens has launched a Public re lations Campaign to draw Small business to the area. The Campaign known As a Zauf dem Stan punkt Kommes and which translates roughly As a it depends on the Point of views aimed at giving the area a Forward looking image. Put together by a Frankfurt advertising Agency the three year Campaign will use billboards weekly newspaper ads and a photo contest to. A amps Lynda Davidson  a mayor Werner von blon fears there Are no easy solutions. Promote the area As liable and inc pen Sivc.  .�������. A a a a a a the campaigns first phase concentrates on Awakening Pride in the area among the local populace. The Campaign will then be broadened to reach out to National and International Industry. Firms looking for a new Home or with expansion plans will be made aware of the regions attractions. Promotional material put together for the and Campaign makes the following Points a the Region offers inexpensive Industrial acreage trained workers reasonable living costs an Industrial Friendly populace and extensive opportunities Lor free time recreation in marvelous surroundings All within a Central Point of the european Trade  so far the announcement by mannes Mann demag a that it is expanding an existing operation in we Brucken by 600 jobs is the Only Concrete economic advancement in the Region this year. Man Riesmann demag a construction equip mint firm made the announcement before the City a economic development. Campaign kicked off. Mannsmann demag is expanding at a site a few Miles from the air base. Getting any use out of the air base itself figures to be More of a problem. A Kaiserslautern research society Firu has been commissioned by the state of Rheinland Pfalz and the City of we Brucken to delve into the problems of converting the air base to civilian use. The group plans to spend several months studying the situation and developing suggestions for alternative uses. But several factors Are threatening to complicate efforts to recruit Industry. We Brucken officials met with Frankfurt Airport authorities to discuss using the vacant air base As a cargo port. But that idea Wasny to feasible because. Of Owci Brucken a distance from Frankfurt and because of poor Road and rail connections linking Rheinland Pfalz with the rest of the country. Another unresolved situation is the environmental condition of the property. Environmental test results so tar have been inconclusive As to Tulve extent of any contamination at the air base said i. Col. Robert l. Gilbert we Brucken ally a ranking civil Engineer. Safe officials will decide a the proper course of., remedial action Quot for Owci Brincken once All surveys and tests Are done Gilbert said. The German government also Lias launched an environmental Survey of a the base. If the tests uncover environmental problems von blon said it May be Difili cult to find someone to pay for repair. It is a just impossible for the City to pay the mayor said.  of environmental problems also makes it difficult to Tell potential tenants when the air base will be ready for occupancy von blon said. A state and City officials Are keeping mum on the identities of businesses with whom they have discussed a move to the we Brucken Pir Masens area. Y a the mayor said one idea that has been discussed involves creation of an a Aero Ville Quot or air City at the air base site. It would include a conference Center an air transportation base and a technical can Ter. But the firm considering the project wont put up any Money until there a a move in Date von blon said and no one knows when that will be. Another problem is who will own the land once it reverts to German hands. Harold Olschak of the Industrial association. Of Rheinland Pfalz said that according to a nato agreement the property must first be turned Over to the German Federal government defense department. What comes next is the big question. A it is All very unclear at present a ols Chok said. A there is no Concrete policy. We Brucken will be a test  a major concern is whether the Federal government will decide to keep the property or sell it to state or local authorities. If it s offered for Sale Olschak said Rheinland Pfalz officials Are worried the asking Price will be too High. Start member Heide Backfisch contributed to this article