European Stars and Stripes (Newspaper) - July 14, 1991, Darmstadt, Hesse                                Sunday july 14, 1991 the stars and stripes a Page 15 Dollar watch shown below Are the Highes Dollar Exchange rates for the week of july 7-13 compared with Dollar rates for the same period one year and five years  Pound one Pound would Cost you $1.60 $1 78 $151 1991 1990 1986 German Mark one Dollar would buy you 2.17 1.63 1990 1986 i a a a a a a a a a i Mommi a military Exchange rat dutch Guilder one Dollar would buy you 0 2,05 .1>87 245 1091 l _t990_j 1986 belgian franc one Dollar would buy you 37.5 34.1 45.14 1991 i a 1990 i 1986 i a amps despite predictions of the recessions end heavy currency trading and a gloomy june retail sales report battered the Dollar on Friday. And the Dollar which had been trading As High As 1.83 Marks last week could Bottom out at  1.80 Marks if leaders of the seven major Industrial nations known As the g-7, decide on a plan to Cool off the Buck during a meeting in London this week. The Commerce department reported that retail sales dipped 0.2 percent in june the third loss this year despite an Advance in the automobile sector. Sales also declined in january and in april. Most economists look to personal consumption to Lead the Economy out of the recession. A it looks like the consumer has decided that the recession is still going a said Gerhard Sunderdieck an analyst with Bank of America in Frankfurt. The military Exchange rate remained at 1.77 Marks for the weekend for service members in Germany. In the United kingdom one Pound Cost $1.67 at military banking facilities. Ian Amstad of Chase investment Bank London said Central Banks in Germany and the United states intervened to keep a lid on the Buck. In Germany heavy Selling of dollars by the Bundesbank caused the Buck to dip As much As 4 pfennig at one Point to 1.79 Marks before rising to around 1.81 Marks on Friday afternoon traders said. A it seems that there a a pact among the Central Banks to try to Cap the Dollar so it does no to Hurt the German Economy a said Amstad. A it appears to be a demonstration of their Unity ahead of the g-7  the stars and stripes Delta to buy pan am shuttle airline s trans Atlantic routes from wire reports Delta does no to dazzle. And until recently Atlanta based Delta air lines appeared to be losing the Battle for Europe to its two larger competitors american and United. A but All that changed late thursday when Delta announced it would acquire the pan am shuttle and All of pan am  trans Atlantic operations a for three quarters of the Price that Developer Donald Trump paid in 1989 for the Eastern air shuttle alone. Not Only did the move vault Delta ahead of american and United in providing service to Europe it did it at the relatively Low Price of $260 million. By comparison pan a within the last year sold its routes going to London a Heathrow Airport to United airlines for $290 million. Trans world airlines sold the right to Fly to Heathrow from three . Cities and related assets to american airlines for $445 million. Because the Delta Deal must be approved by the department of transportation and a Federal bankruptcy judge a pan am filed for bankruptcy reorganization a january a the agreement Isnit expected to be final for several months. A with this proposed Purchase Delta has bought one of the better packages of assets at one of the Best prices unless there Are a lot of hidden liabilities a said Edward Starkman an airline analyst with Paine Webber inc. In new York. A i think you really have to take your hat off to  in fact Delta probably does no to deserve the reputation it has As a sleepy Southern airline. That a not How an airline be comes one of the big three airlines that appear to be sure survivors of Consolida Tioren the Industry. Delta most of whose employees Are non Union is known As a dependable service oriented Carrier. The airline a does have a conservative style but Over the years it has worked in their favor a said Kevin Murphy an airline analyst with Morgan Stanley group inc. In new York. Those who track the airline Industry draw parallels Between Delta a just announced Deal and its 1987 acquisition of Western airlines. The $860 million West Erm transaction gave Delta a Hub in Salt Lake City and coast to coast reach to match its major competitors. A a and while other airline Industry mergers resulted in turmoil Delta a absorption of Western and elimination of its unions was relatively tranquil. Delta began transatlantic operations in 1978, when it started flying to London. In the Early 1980s, it added Frankfurt and Paris but its european expansion did no to really get under Way until about five years ago. Even before the proposed Deal which includes pan am a Frankfurt Hub Delta had established a major presence in Frankfurt with More departures than any other . Carrier. In recent years As airline traffic growth declined in the United states and expanded abroad Delta a relatively limited International service became a competitive disadvantage. A we have been deliberate a said Delta spokesman Neil Monroe a but because of the fact that we be been deliberate we be earned an excellent reputation in Europe based on the fact that we be never pulled out of a City once we started  while american and United have a desirable Gateway to Europe in London a popular Heathrow Airport Delta May have a greater geographic reach from Frankfurt into Eastern Europe Africa and the Middle East said Morgan Stanley a Murphy. Quot Delta also probably will Benefit from taking Over the routes in the slow Winter season giving it time to Iron out wrinkles and integrate the 6,000 pan am workers it is absorbing before the next summer Peak season arrives he said. In addition to its growing european presence Delta has substantial operations in the Pacific a an advantage Over american. Delta a Pacific service is dwarfed however by the operations of United and Northwest airlines there. Delta has 2,580 daily departures and More than 66,000 employees system wide. The pan am Deal will enhance Delta a presence in Washington when it takes Over the shuttle operation which should add to its visibility and the popularity of its frequent flier marketing program. And on Friday pan am was trying to sell its last treasure the latin american routes that made it the Pioneer of commercial aviation More than 60 years ago. The prospective buyer was United airlines the a Nicaea based superpower that became a key play for in the unravelling of pan am when it purchased pan am a lucrative trans Pacific routes in 1985 for $750 million. Pan am said it has also received some unspecified overtures from Hyatt hotel chief Jay a. Pritzker of Chicago. Pritzkur has declined comment. Failed a amp a s bondholders sued for $27 million by Parent firm Phoenix apr bondholders who lost Money in the collapse of Lincoln savings and loan have been sued for $27 million by the thrifts Parent corporation. American Continental corp., the former Parent of the failed Thrift announced Friday it has filed 2,100 lawsuits against bondholders for amounts ranging from several Hundred dollars to several Hundred thousand dollars. An attorney representing american Continental bondholders said the lawsuit is a slap in the face to bondholders who lost their savings. A the Bottom line is that i think its outrageous a said Joseph w. Cotchett or. A most of these people Are elderly people who lost their life  William s. Rose jr., an attorney for american Continental said bankruptcy statutes allow such lawsuits when one creditor receives a greater percentage of his or her claim than other comparable creditors. Rose declined to comment on cot Chetty a allegation that it is unfair to seek return of interest payments from bondholders who lost their savings. A i really can to comment on fairness a he said. A i did no to write the Law. Many things associated with american Continental have proven to be  the lawsuits seek return of a total $27 million in interest and redemption payments made in the 90 Days before american Continental filed for chapter 11 bankruptcy Protection april 13, 1989. The bankruptcy filing by the Phoenix based corporation was made one Day before Federal regulators seized Irvine  Lincoln american Continentals chief subsidiary. The $2.6 billion collapse of Lincoln was the costliest Thrift failure in history. American Continental formerly was controlled by Charles Keating jr., who along with other former executives of american Continental Are the target of criminal charges and civil lawsuits Alcoa to pay $7.5 million in pollution fines Albany .  co. Of America pleaded guilty on thursday to state pollution charges and agreed to pay $7.5 million in criminal and civil penalties. State attorney general Robert Abrams said the $3.75 million criminal Fine was the largest assessed in the United states for a hazardous waste violation. Alcoa also agreed to pay a $3.75 million civil penalty. The. Aluminium _ company giant had been charged with illegal handling of pcs and other hazardous wastes at its Massena Plant on the St. Lawrence River which separates the United states and Canada. New York environmental conservation commissioner Thomas Jorling said the violations were brought to his attention by Alcoa chairman Paul of Neill. A Alcoa has a Clear environmental policy which was not followed in this instance a of Neill said in a statement. The Pittsburgh based company operates an aluminium smelting and fabricating Plant in Massena a in 1989, while preparing to install a drainage system Alcoa dug up enough pc contaminated soil to fill 33 Railroad cars then left the soil piled nearby for More than 90 Days Abrams said. Some of the tainted soil was eventually removed he said. Pcs or poly chlorinated biphenyl have been linked to cancer and arc banned by the Federal government. Also the company illegally dumped caustic and acidic waste Down manholes at the Plant Abrams said. The company pleaded guilty to four violations All misdemeanours involving the storing shipping and disposing of hazardous waste and endangering the environment. That led to the $3.75 million criminal Fine