European Stars and Stripes (Newspaper) - July 16, 1991, Darmstadt, Hesse                                Tuesday july 16, 1991 the stars and stripes b Page 17 Mon matter is is s s it a a a Vvan a the team liquidating Eastern airlines is finding it increasingly difficult to peddle pieces of the once proud Carrier. Five years ago Eastern could boast of $4.6 billion in assets a 286-plane Fleet and Busy hubs in Atlanta and Miami. It was the fourth largest airline in the nation. But when it shut Down six months ago it folded amid one of the worst slumps Ever in . Aviation. A this is not the Best year to be Selling airline assets a said Martin r. Shugrue jr., the court appointed bankruptcy trustee in charge of auctioning off Eastern a estate for  rates London up a mondays 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 $368 an ounce Silver at $4.37. J july 12 july 15 British Pound -.1.6455 1.6495 German mark.1.7965 1 7925 French franc.6.167 6.0980 dutch guilder.2.05 2.0190 belgian franc.37.4625 36.9725 malian lira.1,354.35 1,336.70 Swiss franc.1.5565 1.5525 greek drachma.198.60 195 70 turkish lira.4,401.40 4,366.40 saudi arabian riyal.3.73 3.7503 Spanish peseta.114.05 112.30 portuguese escudo.157.75 154 50 Canadian dollar.1.1488 1.1459 austrian schilling.12.82 12.6150 norwegian krone.7.096 6 98 danish krone.7.04 6.9370 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some idea of daily currency fluctuations. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.75 through tuesday based on mondays noontime  asked to of fuel additive Richmond a. Up the Ethyl corp., which Rose to Fortune 500 status Selling leaded anti Knock compounds for gasoline moved to become a major player in the Industry once again when it asked the Epa to approve its Hite 3000 fuel additive. Ethyl which diversified into plastics chemicals and insurance in anticipation of the ban on leaded Gas had asked the environmental Protection Agency for approval of Hite 3000 in May 1990. The company withdrew the application for More testing after . Car makers split on whether the manganese based compound Hurt catalytic converters. Ethyl noting that the compound has been used in Canada for 13 years now Calls it the most thoroughly tested fuel additive in history. Ethyl Sepa application said that if All gasoline in the United states were to contain the additive 1.7 billion fewer pounds of nitrogen oxide and Carbon monoxide would be emitted each year. By hiking fuel efficiency 82,000 barrels of Oil would be saved each Day it added. Reform of health care system Market experts say by Chet Currier the associated press new York a Wall Street analysts Are adding their voices to the debate Over How to make the nations costly creaking health care system work better. As the Issue takes on increasing urgency in social and political forums they reason it promises to exert More influence of the Economy and financial markets As Well. Jack Lavery director of global research at Merrill Lynch said in one current report that a the explosion in health care costs stands As one of the most pressing problems facing the nation  a for the Overall Economy health care outlays now represent 12.4 percent of Gross National product up from 9.1 percent in 1980,�?� he said. A medical care costs for Consumers Are rising faster than any other major category. A even though All sectors of the Economy Are paying More the increase in costs is not being shared equally. A at the same time a he added a the number of uninsured is rising. Some 33 million people under the age of 65 a nearly 16 percent of the population compared with 12 percent in 1978 a Are uninsured  one offshoot of All this has been the beginnings of a reappraisal by investment managers of the Outlook for some very prosperous companies and industries in health care businesses. Q pharmaceutical manufacturing according to the current Issue of Fortune Magazine is a a american a most profitable Industry. That will change As insurers and employers demand an  whatever Reform is in store however analysts generally argue that it is much More Likely to come slowly than in lightning strokes. A the immediate reaction of portfolio managers upon hearing political leaders and institutions Call for change in our health care system is predictable a said David Lothson who follows health care companies at pain Webber inc. A it sets off a wave of uncertainty confusion and pressure on health care Stock prices. A investor concern regarding new health care legislation is premature in our opinion a he added. A despite the pressing need to control the systems costs and expand its coverage we do not foresee any new programs or Reform prior to 1993.�?� some advocates of sweeping change Lothson noted have cited Canadas National health care program As an exemplary Way to provide Broad coverage at reasonable Cost. But a adopting the Model of the Canadian health care system despite its Many Virtues is probably not feasible for the United states a he maintained. A unlike Canada or for that matter most other nations the United states is not a homogeneous society but a Complex mix of diverse cultures and races with conflicting values goals and  in addition i he argued any Quick change of systems would almost certainly cause severe economic disruptions. A in social policy America has a history of taking the route of several Small Steps rather than fewer larger ones a Lothson concluded. A it is therefore reasonable to assume that the future Reform of our system will take the form of piecemeal legislation which selectively expands coverage and controls the growth of specific  sorting out the particular businesses that Are Likely to thrive in such a setting is a Chancy Endeavor Given uncertainty about what rules and procedures will apply. Some analysts however contend that Good opportunities Are Likely for health management organizations among other types of businesses in a position to take part in medical Cost cutting campaigns. Controversial plan to sell Stock revised by Media giant time new York apr time Warner inc. Shareholders would be Able to buy new Stock in the Media and entertainment company for $80 a share under a plan aimed at diffusing controversy brought on by an earlier proposal. Time Warners original plan to raise new Money to help pay off some Loans was roundly criticized by investors for its variable Price and the fees that were to go to investment Bankers handling the offering. Federal regulators also raised objections. The new plan fixes a Price of $80 per share and slashes underwriters fees. Time Warners Stock has fallen More than 20 percent since the original proposal was reported. Even with the revisions the Prospect of diluting existing holdings by issuing More Stock depressed the company a share Price in trading Friday. Time Warners Stock closed at $89.75 on the new York Stock Exchange Down $3,871/2. The revised plan announced sunday would raise nearly $2.8 billion by Selling about 34.5 million new shares of common Stock. Holders of time Warners 57.8 million existing shares would be Able to buy 0.6 percent of a new share for every share they already own. The Money is earmarked to help reduce the company a Bank debt of nearly $11 billion that resulted from time  buyout of Warner communications inc. In 1989. Steven j. Ross time Warner chairman and chief executive and . Nicholas jr., president and co chief executive said in a joint statement that they believed the original plan was the most fair and effective Way to raise the Money. But they said the revised version will allow them to pursue their goals while settling the principal concerns of investors and the securities and Exchange commission. Under the original plan investors would have paid Between $63 and $105 per share for the new Stock depending on How Many shareholders signed up. The firm hoped the offering would raise up to $3.6 billion. What angered investors about the variable rate was that they had no Way of knowing How much they would pay per share until after participants had signed up. Huge fees to investment Bankers had also been a source of anger. Under the new a plan underwriters would get a $55.2 million fee for committing their capital during the offering and a 3 percent discount on All Stock they Purchase. The Bankers would be required to buy All Stock the amp Hsnk to sold in the offering. Ross Nicholas and Gerald m. Levin chief operating officer who collectively own More than 250,000 shares would use their rights to buy More shares the company said. The executives have also foregone any adjustment in the Price of their Stock options that would result from the offering. The three told the Board in june that they did not want the Price of their Stock options adjusted because that was diverting attention from the goals of the offering. Computer disk drive maker to Lay off 1,200 Scotts Valley Calif. Up sea Gate technology has announced it will Lay off about 1,200 mostly White Collar employees in a move to reduce the disk drive makers operating expenses in the face of a personal computer Industry slump. Sea Gate said the layoffs about 3 percent of its work Force will take place in this Quarter and affect the company so hindi rect orc Force in the United states and Europe. The workers include people in sales and marketing human resources finance engineering and other non manufacturing positions. The company said its manufacturing work Force a will remain relatively  the company currently employs about 41,000 people worldwide. Sea Gate spokeswoman Julie still said the company will also take a number of other Cost cutting measures such As reducing advertising budgets and travel expenses. Sea Gate the largest supplier of disk storage devices for computers has been troubled by a bloated inventory and reduced earnings stemming from the slowdown in sales of personal computers that began last year. Other notable computer companies including Apple computer inc., International business machines corp. And competing disk drive makers such As Conner peripherals have been forced to restructure their operating budgets and work Force Levels. A is Agate is experiencing very Good demand for its products a there is still a Good Deal of demand and growth in the Market a still Saida but there is intense pricing pressure in the Market from foreign and Domestic Competition a she said. A this drives profit margin Downs. And currently these margins do not support the level of staffing we currently