European Stars and Stripes (Newspaper) - June 05, 1991, Darmstadt, Hesse                                Wednesday junes 1991&Quot the stars and strikes Quot. A a \ b p3i3money matters today step going to the United states on vacation or temporary duty you can save Money by choosing the Correct residency status on your customs declaration military customs officials in Europe say. Travellers May claim either a returning residents or a non residents exemptions for foreign made items. Returning residents can take foreign made goods and gifts to the United states and leave. Them there but Only the first $400 Worth Are duty Frei with the non resident exemption All personal items Are duty free but must be brought Back to Europe with you. A. /. Conversion rates London up a tuesdays Rales for the . Dollar to other currencies figures Are expressed a in dollars to the British Pound other local currencies in Dollar Gold  at $362.75 an ounce Silver at 54.17 a is. A a Quot june.3 june 4 Bril Titi Pound .t-.69.b5 1.7035 German mark1.7 516. .1.7543. Frenchi Ranc. .044 5.933. Dutch Guilder. 1.96631.9705, Belgia Franci. .36.10 it 36.02 a it akan lira. 1,30o.oo a 1,298.85&Quot Swiss Ranc. I a Iii i i t i i it. A a Ltd i in l t a 492 1.4915  191.18�?T. 191 70 turkish lira. 4,106.70. 4,121.20 saudi arabian Riya .�?z,.3.-7501. -. 3.7502 Spanish peseta. �?z.,�?z108,02. ,108 15 portuguese escudo. .152.10 ��152,30 a Canadian Dollar. .,1.1445�?T a 1.1435. Austrian schilling.�?~cr.�?T. .12.28 .42.2965�?T norwegian Krone. 6.802 6.812 danish Krone.6.712_ a 6,7175 these Are unofficial rates As re ported it 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 1.71 wednesday based on tuesdays noontime Price fix. Ing. A a a a new York Exchange new York up a York Stock Exchange Stock a a Pepsico inc. A a airborne fight a Quot a Rwjr Nabisco hid a Philip Morris a. A a Tei Fonos de my i Westinghouse Al. Syntax corp. Gellel Aulric. Dupont amp cd Quot. Amer express a. Johnson amp Johnsn 13 m corp. Bristol Myersq. General motors oct idol petrol tie -15 most  in new. Composite trading on monday. A a a sales 2,482,000 a 2,401.800. 1,937,400 1.070,4001,782,300. A 1,623,300 1,530,100 1.452.300 a 1379,100 1,361.500 1,328,700 1,321,800 1309.300 1.303.300 1,187,200. Last 30% 2m .10% a 66% -�?�27% a 30% a a 39%. 77% 47%. 25%. 08% 106% 79% 743 ?1 Nelcha. Off %. Oil 1 %  i to up % Quot a. Up. Of i up % a a a us a a a off Yak. Off 2%. A a  of i. Off 15 unch american Exchange new York up a the in most Active stocks in american Stock Exchange composite trading monday a. Slock Imperial Oil a Hasbro inc  de Acero a a -.metromobile-b. Echo Bay mines Energy. Service. Fruit of loom Quot americas disc americas desc Dias Wiles inc sates 3.294,800 2.258,100 -1,0b 5,300. 627,800 560300. 440,500 �438,600 248,700 -241,900. 238,800 last 46% a 30% a a 10% 17% 8% 2% 15% 12 12-%. 4% net chg. Off a. A off % a up % a up a a up % a a off a a up a a. Of % a up % up % Dow Jones new York up a Daw Jones closing Range at averages Var cry. A ,13 industrials 23 transport a i1. I est to stocks High Low. 3057.47 _ 3000.671248.41 1219.50 212.02 209,95 1097.04 1076.53. Close 3035,33 1241.b9 211.03. 1090 17. Change up 7.83 up 12.87 off 0.69 up 4.41 . Investors evade embargo or says by Michael Dicicco United press International Hong Kong a . Investors arc increasingly breaking an american economic embargo against Vietnam by funding projects in. The communist nation through third parties an indo China Market expert says. / a. Mathilda Genovese an american business lawyer specializing in the vietnamese Economy said that at least three . Companies had invested in Vietnam so far and that More were planning to follow. A a a. Hanoi has reported investment from the unidentified companies was Worth $1.9 million said Genovese who recently spent three weeks in the country. But total . Investment far exceeds the official figure Genovese and other financial analysts. Said they declined to Specula in of How much american Money had entered Vietnam. A a a / a. A. A a us. Companies have been barred from investing or trading with Vietnam since the american backed government in Saigon collapsed in 1975. Penalties for violating the embargo carry a prison sentence of up to 10 years and $50,000 air Quot fines. But Genovese said a Boom in foreign investment in Vietnam a nearly $2 billion since 1988 a had ignited a growing anxiety among american companies that they could soon be Frozen out of the Market. A a. A president Bush has until mid september to decide whether to continue the 16-year ban on Trade and investment in Vietnam. Recent indications from the while House Point toward at least a two year delay in lifting the embargo and Genovese said Many investors were not willing to wait that Long. X a people Are saying a either i violate. The Law now and get in the Market or i wait until 92 or 93,�?T a a she said. A and a they Are seeing that More and More investment is getting in and there is not going to be a whole lot available in one or two  it. A a a / to pay some much of the . Investment is being filtered through Fiur Opean companies analysts said. Although . Companies Are barred from Selling their products to Vietnam the country is filled with american goods. Most of them arc distributed by companies in Singapore. Thailand and Indonesia. Genovese said that during her Vietnam visit she saw .-made products ranging from cosmetics and beverages to heavy construction equipment and electricity generators. Under the embargo . Companies Are allowed to conduct research in Vietnam and sign letters of intent with vietnamese companies. Trips by american business executives arc increasing according to Donald Wong director of a Hong Kong company that arranges business trips to Vietnam. Wong said his american International travel Ltd. Now averages about one investor trip a month to Vietnam. Proposes Stock Miami up general devel on sent corp. Has filed a reorganization Plait calling for unsecured creditors to be partially repaid with Stock instead of Cash the company said monday. T v in addition the real estate devel. Of mint company a existing Stock would be cancelled and those stockholders would receive no recoveries whatsoever.1. A the actions Are included in the joint reorganization plan that the company. And its. Unsecured creditors committee have filed in . Bankruptcy court for the Southern District of Florida. \ general development filed for Chap Ter 11 Protection from creditors Iii april -1990 after r the com Pany. And two former. Executives were indicted by a Federal grand jury on charges of defrauding thou Sands of Home buyers by inflating the value of properties sold in nine planned communities in Florida. A the company which also sold property to hundreds of Servic members stationed in Europe pleaded guilty to a single count of conspiracy. The charges Are still pending against they two former executives. A a a. A a. A a. William per Stcin the company a Lead bankruptcy counsel said the company expects to submit a revised version of the reorganization plan by july 31 after creditors have examined it. A a bankruptcy judge a. Jay Cristol would have to approve the reorganization plan before the company can emerge a from chapter 11 proceedings. The plan Calls for fully secured priority and administrative claims to be paid in full either on confirmation or Over time with interest. Payments on unsecured claims would be made in the form of $100 million Worth of senior notes new Cash flow notes totalling. $100 Mil Liouta and 9.75 million shares of  Streky. There would be no immediate distribution of Cash to unsecured creditors Perlstein said general development cannot pay All its claims in full since valid. Claims far exceed assets. A a the total amount of allowed unsecured claims in aggregate and by class is not yet known so we cannot estimate the distribution to each class of creditors of the new securities a Perlstein said. However he said the plan was the Best alternative and stood in a Stark contrast to the option of liquidating the company and distributing the proceeds. A this plan offers by far the better Prospect for meeting fairly., to the maximum extent possible gds obligations to claim holders whether creditors Consumers or other important interests a Perlstein said. The company said its existing debtor in Possession lenders had agreed in principle to extend the current financing through dec. 15 and to finance a new revolving line of credit for general developments general working capital purposes Genera developments obligations la buyers of its Home Sites who accept the company a purchaser Assurance program will be carried out As provided in the court approved program which allows buyers with undeveloped lots to Exchange them for developed Sites. Purchasers not accepting that program Wilt be treated As general unsecured creditors. Exc Jowes Quot Strategos r times rms Cleveland up a is recession a state of mind the editors of Industry week Magazine believe it is and they re trying to change it. A. The magazines current Issue devotes 16 pages to detailing what 30 top a acc Tives Are. Doing to Lead their companies out. Of the recession and position them for better than average growth once re covery begins in Earnest. T. A a a instead of wailing around for recon a Ery to just happen we wanted to get people thinking about How to trigger recon a cry a said Industry week editor Charles. Day or. J. J a a so we set out to find those companies that Are taking the Lead and putting their Money and efforts where their Mouths Are a a a a. A. For example Rubbermaid inc. Of Wooster is making capital investments in the Range of $100 million this year de spite the sour Economy. A my attitude is when times arc Tough but you can. See the turn that a the time to invest a said Rubbermaid chairman Walter Williams. A a we Are promoting aggressively continuing to advertise very heavily and literally trying to sell our Way through this recessionary  a. A a strategies among corporate leaders the Magazine interviewed were varied however because they did not agree on when the recession will end or if it already of Fiat have ended. With consumer spending so fee Hie powerful sales growth is not something companies can count on even after the recession has ended. A we approached this recession differently than we have approached any recession in my 27 years with Whirlpool a said William Marohn the appliance makers executive vice president. Part of Whirlpool s strategy includes aggressively managing costs streamlining its manufacturing operations and reducing inventories