European Stars and Stripes (Newspaper) - June 23, 1991, Darmstadt, Hesse                                Sunday june 23, 1991 the stars and stripes a a Page 15_. Quot Money matters i shown below Are the highest Dollar Exchange rates for the week of Jane 16-22 compared with Dollar rates for the same period one year and five years and. A British Pound one Pound would Cost you �1 Fin 1991 1990german Mark one Dollar would buy you 1.77 2.23 19911.66, 1990 1986 Quot military Exchange rate belgian franc one Dollar would buy you 45 Jaq 37.32 34.72 a 1991 1990 dutch Guilder one Dollar would buy you 2.04 1.90 1986 2.53 a amp Dollar is expected to move up currency experts expect a stronger Dollar in the week ahead particularly if a weekend gathering of Western finance ministers and Central Bank presidents ends without a plan for keeping a lid on the Buck a we Don to expect that an agreement will be coming out of this meeting and this will help the Dollar to again go above 1.80 Marks a said Petra Ott economist with Citibank in Frankfurt Germany. Friday afternoon in Europe the Dollar was trading just below 1.80 Marks and near $1.63 for one British Pound. Military Exchange rates were set for the weekend at 1.75 Marks for service members in Germany. In the United kingdom one Pound Cost $1,67 at military banking facilities Jonathan Griggs an economist with Barclays Bank in London said foreign Exchange traders expect a vaguely worded communique about stability in currency markets a with no Strong words about pegging the Dollar to a certain rate or trying to weaken it.�?�. A. The result should be a gain of. 2 pfennig for the Dollar against the  the next , Griggs said. Nevertheless the Dollar was lacklustre Friday afternoon in Advance of the group of 7 meeting scheduled today in London. The  trading 2 pfennig below its High for the week in Germany and 2 cents off in Britain. A the stars and str pea by Randy Mcclain financial writer military pilots thinking of making the switch to civilian airlines will have trouble finding a Job in the cockpit for. The next 12 to is months according to a recent study by the future aviation professionals of America. A a it a going to take people longer to. Find the right Job and its going to be a More competitive situation in Job interviews a said Louis Smith president of the Atlanta based organization. A ,. Financially strapped commercial airlines Are hiring fewer pilots than at any time in the past six years and those airlines that Are adding employees Are Gen rally picking up pilots who were Laid off or furloughed by other companies. A decline in passenger traffic caused by the persian Gulf War and the recession has had a severe Impact on several major carriers. Eastern Continental pan american and Midway airlines have All filed for bankruptcy Protection in the United states and trans world airlines and us air Are among firms that have furloughed pilots to Cut costs. Smith said a few companies including american Delta and United airlines Are still expanding but even that development presents limited Job opportunities for service members leaving the Mili. Tary this year. A a a a Delta United and american arc often hiring commercial pilots a who were Laid Pilot Job Market. Total number of new Pilot jobs for major american airlines for the years 1986 to 1991. A. A a \ a �1986 a 6,787 1987 6,800 1988 6,683 1989 9,086 1990 4,779, 1991 4,000 projected source future aviation a professionals of americas amps off with Good  and who have flown in commercial cockpits before. There s a a Short term glut of Well qualified people a Smith said. Delta airlines for example is hiring 90 new pilots a month but All those jobs Are not going to cd military aviators he said a the net jobs for the military May Only be 1,500 pilots for the  the papa official said he expects a total of 4,000 pilots to be hired by the major commercial airlines this year Down from a Peak of 9,086 new hires two years ago. A the Job Market is soft and some people May actually reverse their decisions to get out of the serv ice Quot Smith said military pilots who decide to leave the service in the face of such difficult Odds should be prepared for a lengthy Job search. Smith added a people who get out regardless should have their finances in order a he said a Don t do anything  a. A. A a a officials with the air Force military personnel Center at Randolph fab Texas said the persian Gulf War and Stop Doss orders that prevented pilots from separating from the military before and during that conflict have helped in a crease Pilot retention figures lately. But they arc not sure How Long that situation will last. A. A a a a for the Quarter ended March 31, 38 percent of pilots with six to it years or experience decided to stay in the air Force up from 34 percent in the previous three quarters officials said. Maj. Gibson Houser chief old operations officer retention said he expects retention rates to fall to Between 30 and 32 percent now that the War is Over and Slop loss procedures arc be Jug lifted. Smith said he expects the airline Job Market to improve starting in late 1992, and for the decade of the 1990s As a whole he predicts significant airline expansion. 1 a. A. A a a one Factor that will fuel a hiring spree later in the �?T90s is tie fact that major . Airlines plan to retire 20,000 pilots by the turn of the Cumuli he said. Newest consumer fraud hits Mark with electronic transfers Washington up Law enforcement and. Banking officials Are warning Consumers against falling prey to a new hybrid form of Telephone marketing fraud in which scam artists Are draining millions of dollars directly from the Bank accounts of the victims. The revelations about this new kind of con which preys on the elderly and Consumers with poor credit histories came during a joint hearing before two House subcommittees. Rep. Ron Wyden d-ore., chairman of the Small business subcommittee on regulation said scam artists operating from out of state offices deliver seductive Telephone sales pitches for a variety of items persuading Consumers to divulge their personal checking account numbers. The scam artist then puts the checking account number on a magnetically encoded Bank draft which is deposited into the  a own account Wyden said. Once that occurs a Bank automatically transfers funds from the consumer a account to that of the telc marketer with neither the permission nor knowledge of the  even though this new electronic heist is Only a few months old it has already Cost Consumers hundreds of millions of dollars a said Wyden who plans to introduce legislation to combat telemarketing fraud. A a a a a a a \. A a a a a a a a a. A a a Sleazy telemark Teers have armed themselves with a fresh array of electronic and computerized tools through which they can exploit the consumer a Wyden added. A by utilizing the consumer a checking account number through debit draft fraud Crooks have found a new key to the  officials estimate that telemarketing fraud such As the phony sales of office products travel packages vitamins water purifiers land and precious a vials robs americans of Between $10 billion and $15 billion annually. Rhode Island a attorney general James of Neil said scam artists Are turning their attention away from gaining the credit card numbers of potential victims and toward the new automatic debit processing technique a. A ,. A army orders More Patriot missiles Lexington mass. Up Raythelon co. Won a $346 million contract from the army on Friday to build 647 More Patriot missiles but the company also said it would Lay off 700 workers in three states because of dwindling defense spending quota Quot v .7. The cutbacks will include the division that makes the = Patriot a company spokesman said. The missile was. Used during the persian Gulf War to shoot Down scores of iraqi scuds aimed at saudi Arabia and Israel. ,. Raythelon one of the Pentagon a major contractors employs 78,000 people worldwide including 29,000 at plants in Massachusetts where 640 of the Pink slips will be handed out. The rest of the layoffs will take place at plants in Bristol tenn., and Manchester n.h., the spokesman said. The cutbacks will take effect Over the next month he said. 1 the latest Patriot contract awarded by the army a missile come Calls for an additional 283 of the weapons for the . Military 32 each for Turkey and Israel and 300 for saudi Arabia the company said. 7 7 a Raythelon spokesman Dick Sherman said the contract helped reduce the num her of layoffs but was not More specific a the uptick in spending we cd Peri ended during the Gulf War is leveling off. But the Good news is the. Patriot is still viable and the contract will help to minimize the Impact of the reduced defense spending that is causing us to announce these layoffs a Sherman said. The Patriot protected Allied forces As Well As civilian populations in Israel and saudi arabist against sometimes devastating attacks by the soviet made scud missiles during the six Weck Gulf conflict and is credited with keeping Israel out of the War a v 77.7i�?~ a a a a a a a a a a a a a a president Bush visited Rathe on a Patriot Plant in North Andover after the War to Praise the company and its workers., j a some experts charged however that the patriots did More harm than Good by spraying populated areas with debris from the scuds that May have caused More death and injury than if the highly inaccurate scuds had been allowed to land unchallenged especially in Israel