European Stars and Stripes (Newspaper) - June 13, 1991, Darmstadt, Hesse Thursday june 13, 1991. The stars and stripes b Page 17i Money matters i today s tip Federal agencies would be required to give employees at least 60 Days notice of layoffs under a change proposed by the office of personnel management twice the warning time now required. The extended warning would apply in situations where 50 or More workers ate due to get the a. It would t cover smaller reductions of the work Force cases where agencies run out of Money or other Surprise situations. The new Rule would also give agencies the right to advise workers 90 Days in Advance of layoffs if of Licals thought that was warranted. Conversion rates London up wednesday s rates for the . Dollar to other currencies. Figures arc expressed in dollars to the British Pound other local currencies in dollars v Gold was quoted at s371.55 an ounce Silver at $4.59 Brish Pound. German Mark. French franc. Dutch Guilder. Belgian franc., italian.lira.-,. Swiss franc. Greek drachma.,. Turkish lira. It saudi arabian.riyal.j., Spanish peseta,.i., portuguese escudo ,., Canadian Dollar,.austrian Schilling. Norwegian Krone. Danish Krone ,.- 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 a i the Only official rate concerns the Sale of German Marks to personnel for personal use and this will be 1.73 through thursday based on wednesdays noontime Price fixing. New York Exchange june 11 june 12 .1.6640. 1.6455 .1.7715. 1.7910 ,5.9990 6.0420 .1.9902 .1.9972 .36.49. 36.6325 t,315.30 a. 1.32443 .,15155 Quot 1.5305 ,.192.70 a 193 34 4,181.10 4,198.50 3 75. A j.75 .109.32 ,109.86 -,.155.72 157.58 1.1451 1.1436 ,12433 12.4775 6.349 6.826 .6.797 6.826 american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading tuesday Stock Bat industries Energy service. A magma Copper co Benton Oil Gas Conti air Hodgs carnival cruise a Tel amp data sys Etho Bay mines Forest labs inc a Bergen Brunswig. Sales 12,068,700-� 478,300 344,500 "297,600 251,800 246.100. A 237,000 236,200 232,200 ,211.900 last12 a Vi. 6 a -. 8w a �?�2 23.31% 9 a. 35 i. /26% Nel chg. Up t6 Oil % a unch. A off. A unch a a up a. A a unch up win up w new York up t the 15 most Active stocks in new a York Stock Exchange composite trading on tuesday Quot Slock sales last a Nel chg. Pepsico inc. Quot 3.186,000 30 Quot lip i readers digest. 3,024,800 34 w up 1 % fur Nabisco hid 2.604,400 10 is a up i occident a petrol 2,462,400. 22w Oft i Tel Fonos de my 1.709.400 27 % off % vant corp a a 1.669.400 2% up % chem waste mgt 1.562,200 22% a off % us us steel go 1,548,100 24% Quot up is. Computer Assoc a 1,538,900 10. Quot up %. Wal Mart stores a 1.396.200 43 up 1 a blockbuster ent 1.337.300 9011% Philip Morris 1.325,700. 65% a. Up i general motors 1,250.900 a42% a up is Amer express 1.157,700 23 % a off is vibe corp 1,137,000 102% off i Dow Jones new Vork top a Dow Jones dosing Range of averages. Tuesday a a a a a a. High Low close change 30 industrials. 2980 32 3012.082953.10 up 10. 51 20 transport 1223.91 1237.67 1217.91 up 3.70 15 unlike a a 209 13 210 39 207.56 Quot up 0.57 65 stocks. 1072.94 c83s5 1c-66 75 up 3.50 ., Japan sign Deal Washington apr the United states and Japan signed a new five year agreement tuesday aimed at boosting the foreign share of the japanese computer Chip Market by the end of next year. By Robert a. Rosenblatt and James risen los Angeles. Times. Washington despite a personal Appeal tuesday from president Bush key House democrats refused to drop their determined opposition Topkins. For giving Banks Broad new Powers in the insurance and securities . One angry Democrat. Rep. John Ding ii Mie-h., said after leaving a while House the president that the administrations Bank Reform proposal to open ownership of Banks to commercial and Industrial companies would permit tailing corporations Quot the soviet National Bank Saddam he Ein or. The chinese people s Republic Quot to but american Hanks. A. But a Treasury spokesman dismissing Dingus criticism said in response a right now foreign Banks and foreigners can buy american Bankswhat our Bill does is allow american Banks to draw on american capital rather than being forced to go overseas for Ding ii chairman of the House in Ergo and. Commerce committee remained a seemingly immovable object in the Way of the administration plan despite Bush s plea for help in achieving its Quick passage. The administration wants approved by the House before the August congressional recess a House speaker Thomas a Foley d right now foreign Banks and foreigners can buy american Banks. What our Bill does is allow american Banks to draw on american capital rather than being forced to go overseas for it a a Treasury spokesman wash., who also attended the Bipat lisan session said that Bush appealed for cooperation and was Given a respectful hearing. The administrations plan won ens approval last month from a House banking finance and Urban affairs subcommittee with Only modest changes. It faces Stiller opposition As it moves to the Lull banking committee and to dog Civ committee which has jurisdiction Over securities legislation. Along with Dingell rep. Henry b. Gonzalez 1 exas chairman of the banking committee opposes aspects of the Broad Bush plane he would a sclera narrower Effort aimed at replenishing the depleted Bank Deposit insurance fund. The legislation ifs not come up in the Senate. ,. A a Dingell holds the same suburban Detroit congressional seat As who played a key role in new Deal legislation that constructed barriers Between banking and the securities business. Those Laws remain in the books and Dingell remains sceptical of the idea of Banks being permitted both banking and Commerce functions. A. A the minute a company is owned by a Bank a it can easily borrow Money from the Federal Reserve system Dingell said lie raised the Specter of a trading company owned by a communist country buying a Bank or a failing american corporation buying a Bank and then requiring a Federal bailout. Rep. Edward Markcy mass., chairman of the Energy and Commerce telecommunications and finance sub commit Tec which will handle the securities provisions of the Bill said that the Drexel Burnham brokerage firm once a prime marketer of junk Bonds could have to cd to get Federal help to Avert bankruptcy it it had been owned by a Bank. Rep. Matthew Rinaldo n.j., the ranking Republican on the subcommittee agreed that efforts to give Banks added Powers to Deal in securities and insurance will be a very hotly debated a. A. A big three join to defend . Cars Washington apr the leaders of the big t lire automakers touted the qualy of their cars and trucks in a rare joint television interview t tuesday. But the three chief executives a Robert Stempel of general motors corp., Harold Poling or Ford motor co. And Chrysler Lee Iacocca a a know lodged in taping the Abc program a night line that Many Consumers remain sceptical whether . Quality matches Japan a. A a. A the perception is horrendous. We built some Lousy cars Early on and Are paying the Price m. Lost Market share la. Coca said. Alter a decade spent blowing billions of dollars into research and. Improvements big arc on a Par with those made in Japan or Europe the executives argued. A. ,. A Iacocca said that several years ago . Manufacturers had to make Moo War. Ranty repairs for every 100 cars sold. A now we re Down to 200. The japanese lets Quot say Are at he said and con. Corn Over even larger differences would be a. Outdated buyer prejudice against . a bigger problem for the Domestic Industry than inferior Quality they said a a americans cars have gotten signify Canity better and in Many eases arc right up with the Best of the Best a Stempel said., a t a a when you look for safety the . Makers Lead a he said. A when you look for fuel Economy the . Makers Lead. When you look for reliability and per Tor Mance that s where we want people to come Back in and take advantage. That the competitive big three exec a Titis would together underscores their deepening anxiety a and a willingness to join forces against threats posed by Japan Congress and an anaemic Economy the companies posted combined losses of $2.3. Billion in the first three months of Robert Stempel from left of general motors corp., Harold Poling of Ford motor co. And Lee Loc Occa of Chrysler corp. Appear on abcs this year a their worst Quarter Ever. The. Steadily expanding japanese share of the . Auto Market stood at 25 percent at. The end of last year compared with 71.1 percent for the big three. Iacocca Poling and Stempel met with president Bush in mid March to enlist his. Support against legislation that would Force costly improvements in Auto safety a fuel efficiency and pollution control. They played Host in Detroit to 3# members of Congress or two Days of briefings and pleadings in april the first such conclave Ever held. O and ate last month the companies. Filed a Trade complaint against japanese Automa kers claim ing they we reselling minivans at less than fair Market Valliie. Poling Phiyen Down the significance of the interview saying that the three rival. Chairmen appeared together Only because Abc had invited them. The executives used the Jour Mig pro Gram to air grievances against japanese. Trade barriers and congressional it Lori to further regulate the Industry. Quot a we spent $120 billion in the Iasi to years and we Are ready to compete a la Corea said. A but we be got to compete by rules made in this town by politicians on. Both sides of this aisle. And if the rules Aren t right we can to i i
