European Stars and Stripes (Newspaper) - July 20, 1991, Darmstadt, Hesse                                Saturday july 20, 1991 the stars and stripes b Page 17money matters Goodyear tire amp rubber co. Is conducting preliminary talks with potential buyers of the debt heavy company a non tire assets. A we want to maintain the Core of the business a said Goodyear spokesman Walt Mcclenny who would not say which assets might be under discussion or with whom Goodyear was dealing. The Wall Street journal has reported that new Goodyear chairman Stanley c. Gault the former head of Rubbermaid inc., is pursuing the asset Sale to help bring Goodyear Back into the Black. Goodyear lost $90.1 million in the first Quarter of this  rates London up fridays 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 $370.75 an ounce Silver at $4,395. July 18 july 19 British pound.1.6665 a 1.681 German mark.1.7715 1.7555 French franc .6.011 5.9835 dutch guilder.2.0125 1.9785 belgian franc. .36.45 36.15 italian lira.1,320.00 1,312.20 Swiss franc.1.5355 1.519052 greek drachma. 194.35 192.20 turkish lira.4,365.90 4,347.30 saudi arabian riyal.3.7502 3.7502 Spanish peseta.111.58 109.65 portuguese escudo.152.50 150.55 Canadian dollar.1.1535 1 1558 austrian schilling.12.53 12.356 norwegian krone.6.933 6.8365 danish krone.6.8785 6.79 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 1.72 through monday based on fridays noontime  York Exchange new York up York Stock Exchange Slock blockbuster ent at amp to company Triton Energy mrs inter inc Bank of Boston ism corp Pepsico inc i Elcoro Philip Morris Pestec Energy Rwjr Nabisco hid genl electric Exxon corp tandem computer occident a petrol a the 15 most Active stocks in new composite trading on thursday. Sales last net chg. 6.032,000 10 % Oft % 3,800,500 39% up 1 % 3,023,700 33 up 3 % 2,665,700 7% unch 2,359,200 8% up is 2,346,900 98 i up 2 2,322,500 29% unch 2,276,300 15 % up 2,196,100 66% up % 1,961,600 20 off 21/t 1,760,700 11 % up % 1,543,200 73 i up 1 % 1,524,600 59% unch 1,463,000 12% off 1,412,400 23 up % Dow Jones new York up a Dow Jones closing Range of averages thursday a High Low close change 30 industrials 3026.61 2970.93 3016.32 up 37.56 20 transport 1223.91 1201.34 1219.15 up 24.16 15 utilities 201.27 198.44 200.39 up 0.75 65 stocks 1076.66 1057.48 1072.71 up 14.42fed says developers falling behind on debts Washington a Banks that Lent to developers during the construction Boom of the mid-1980s Are finding that Many of their borrowers Are unable to pay off on schedule a Federal Reserve report says. A Survey of senior loan officers at 60 . Banks in late june found that Only 36 percent of construction and so called a mini Perm Loans coming due during the past year were being repaid under their original terms. Newspaper exec named As stars and stripes pm by the stars and stripes Christopher a. Eddings a 41-year-old newspaper manager from new England has been named general manager of the stars and stripes. A Eddings appointment was announced Friday by col. Gene e. Townsend the stars and stripes publisher. Eddings who has held various posts in newspaper advertising circulation and management for the past 18 years has most recently been serving As president of the new England press association. He lives in Amesbury mass. Townsend said Eddings appointment will solve a number of a abroad management concerns and will serve to streamline stripes Chain of command by limiting the number of people who report directly to the publishers office. He will oversee some 600 employees in advertising circulation production distribution and other business departments at stripes. Eddings will also supervise the organizations Bookstore operations. A Christopher Eddings brings us several Good qualities but most of All i have been impressed by his Superb integrity a Townsend said. A in my opinion he is absolutely top drawer. A the brings us years of experience in private Industry and he will very nicely augment the staff Here which really understands and knows the european  Eddings said he was attracted to the stars and stripes because it serves a a unique and interesting Community american military personnel in Europe. A i see this Job As being of service to people who might not be Able to get the information they need in any other Way a he said in a Telephone interview from his Home in Amesbury. Townsend said Eddings will Start work in pay category gs-15, which has a pay Range of $61,643 to $80,130 per year depending on years of service and other factors. Eddings is expected to report for work within 30 Days. The idea of hiring a general manager has been discussed at stripes for a number of years but it gained renewed momentum after a department of defense inspector general report noted several instances of mismanagement at the european stars and stripes last year. Eddings hiring As Well As the hiring of civilian editor Bernard a. Zovistoski of Albany n.y., six months ago. Will help be stars and stripes achieve greater efficiencies  better management balance Townsend said. Quot a we need t it ensure that we have Good management practices in place and in a confident that or. Eddings will bring that area of expertise to us a Townsend said. Eddings is a Veteran newspaper manager who spent most of the 1980s As advertising director marketing director general manager and publisher of North Shore weeklies newspapers in Ipswich mass., North of Boston. North Shore weeklies publishes 16 suburban weekly papers with a. Combined circulation of 270,000 copies. More recently Eddings served As president and chief executive officer of Beacon communications an Acton mass., division of the san Francisco chronicle publishing co. Beacon publishes two daily newspapers and 12 weekly papers in the new England area. Eddings and his wife Denise have two children David 12, and Sam 6. He served in the army reserves until he was honorable discharged in 1977. Service members insurance in Good shape official says by Randy Mcclain financial writer the president of a Missouri based group insurance plan that Sells life insurance to service members around the world says he a pleased with the Way regulators Are handling the Mutual Benefit life insurance  financial problems. A the Bottom line is that our group life insurance policies Are in full Force and Are in Good shape a said Larry n. Tibbetts president of the uniformed services Benefit association a group insurance plan in Kansas City that Sells Low Cost life insurance to Active duty and retire military personnel and reservists. The plan is underwritten by Mutual benefits group division. Usa eur command sgt. Maj. George l. Horvath sits on us bad a Board of governors according to the associations sales pamphlets. New Jersey state regulators took control of Mutual Benefit life earlier this week in an attempt to boost Public Confidence. The insurance company the 18th largest in the United states has been rocked in recent weeks by disenchanted customers cashing in at least $1 billion Worth of insurance policies amid fears of massive real estate losses in the firms investment portfolio. More than a third of Mutual benefits $13.8 billion in assets were invested in commercial real estate at the end of 1990, and published reports have indicated that much of that real estate is declining in value. Part of the rehabilitation plan forged for Mutual Benefit includes the appointment of Nicholas Deb. Katzenbach a former . Attorney general in the Kennedy administration As conservator. The new Jersey insurance commission has also reached an agreement with metropolitan life insurance co. And Prudential insurance co., two firms on solid financial ground to serve As Mutual a re insurers on new policies issued. Mutual Benefit will continue to pay death health and disability claims and All regular annuity payments to policyholders As part of the state ordered Effort. But policyholders will be unable to withdraw the Cash value of their policies surrender policies or obtain Loans against them except in hardship cases. The vast majority of us bad a 102,500 members own simple term life insurance policies which Are sold for pennies per month for every $ 1,000 in coverage. However about 2,400 association members have Mutual Benefit annuities As part of their retirement packages. Funds in those accounts Are temporarily Frozen Tibbetts said. A the Money is Safe but some of our members have been rather apprehensive a the us a president said. Tibbetts said us a officials have talked to numerous account holders via Telephone and reassured them that All is Well. A they feel a lot better for the most part a he said. Tibbetts said us a May look for another insurance company to underwrite its group plan should Mutual Benefit life ski Mancial condition deteriorate in the coming months. But state regulators May make such a move unnecessary he added. Under the states workout plan Mutual benefits group business has been spun off into a wholly owned subsidiary called Mutual Benefit life Assurance corp. Tibbetts said that corporation which includes us a policyholders Michigan Public school teachers and numerous other group plans May be sold to another Large insurer. A a we re going to take a wait and see attitude a Tibbetts said. A if group operations go to a Large sound corporation that May totally solve the problem once and for  Law backs shift plan to save jobs Detroit apr a United Auto workers Union local at a Large general motors corp. Plant in Ohio has ratified a new production strategy that May be a sign of things to come at other pm operations. Members of local 1112 at the lords town Ohio Van and car making Complex voted wednesday and Early thursday to begin a so called a three Crew two shift production schedule in August 1992. The car making factory assembles the Pontiac sunbird and Gmys Best Selling car the Chevrolet Cavalier. It will increase production by about 20 percent and will provide jobs for about 1,200 Law members who were facing layoffs in March 1992, when pm plans to consolidate its Van production in Flint Mich. Pm chairman Robert Stempel has committed the company to making itself More efficient by using All of its available production capacity by the end of next year. Analysts have said that Means pm which has too much factory capacity to match vehicle demand will have to close Between four and six Assembly plants to meet Stempele a target. Pm has More than 30 North american Assembly plants. The new Lordstown agreement was ratified by a 2-to-l margin among approximately 5,000 members who voted said local 1112 shop chairman a1 Alii who declined to give a precise total on the vote