European Stars and Stripes (Newspaper) - September 7, 1991, Darmstadt, Hesse                                Saturday. September 7, 1991 the stars and stripes b Page 17 _ Money matters today a tip sales of North american made vehicles slipped 8.9 percent in late August figures indicated thursday despite an increase in rebates to Clear 1991 vehicles from dealer lots before the 1992 Model year begins. Automakers reported that August sales which included imported cars and trucks slumped 11 percent compared with figures for August 1990. There had been some speculation that the August sales rate would strengthen because of the increased rebates. However the incentives did no to appear to help much. A despite hefty and widespread rebates and incentives Consumers simply done to have the Money to take advantage of the deals a said Tom Webb senior economist at the National automobile dealers association in Mclean  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 s348.55 an ounce Silver at $3.97. Sept. 5 sept. 6 British pound.1.6930 1.6965 German mark.1.7390 1.7374 French franc.5.9065 5.9010 dutch guilder.1.9585 1.9564 belgian franc.35.7825 35.75 italian lira.1,297 1,2995 70 Swiss franc.1.5265 1.5255 greek drachma.192.31 191.86 turkish lira.4,626.30 4,633.70 saudi arabian riyal.3.7501 3.7501 Spanish peseta.108.41 108.21 portuguese escudo.148.80 148.47 Canadian dollar.1.1408 1.1397 austrian schilling.12.2430 12 2210 norwegian krone.6.7975 6.7850 danish krone.6.7175 6.70 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 1.69 through monday based on fridays noontime  Jones new York up a Dow Jones closing Range of averages thursday High Low Cleie change 30 industrials 3031.98 2989.71 3008.50 unch 20 transport 1199.05 1178.95 1183.00 off 7.06 15 utilities 208.00 205.81 206.50 Oft 0.75 65 stocks 1076.11 1060.75 1066.11 of 2.37marriott teams up with Taco Bell Irvine Calif. Up Marriott corp. Said thursday that it will sell Taco Bell foods through express kiosks and free standing carts under a licensing agreement with the food service company. Marriott will become a Licensee of Taco Bell and install outlets at such non traditional Sites As airports universities and hospitals. Marriott will run the Taco Bells through its management services unit. Marriott and Taco Bell a unit of Pepsico started a Small licensing operation earlier this year. Marriott  operates seven Taco Bell units including stands at dodger stadium in los Angeles and airports in Minneapolis Detroit and St. Louis. It has five other facilities being constructed. Former Bocci officials charged with laundering Noriega funds by the los Angeles times Washington a a former president of the Bank of credit and Commerce International and five other Bocci officials have been charged with laundering millions of dollars in drug profits and Money belonging to former panamanian strongman Manuel Noriega. The Federal indictment unsealed thursday was returned by a Tampa fla., grand jury aug. 23. It was kept sealed until after Syed . Akbar was arrested tuesday in the French port of Calais As he stepped off a ferry from Britain. Akbar is by Cir a former treasurer. A what we Are alleging in this indictment is a racketeering Enterprise in a manner that was a corporate strategy a corporately countenanced operation a said Robert s. Mueller Iii the assistant attorney general in charge of the criminal division. Bocci was virtually shut Down by banking regulators july 5 after audits discovered evidence that widespread fraud had led to losses of at least $5 billion. The Bank had branches in 73 countries and assets of $20 billion at its Zenith. The charges Are the latest in a series of allegations that Bocci was riddled with corruption. The Bank and its former top officers face state criminal charges in new York. Federal grand juries in three other cities Are investigating the Bank a activities including its alleged secret acquisition of four . Financial institutions. Accused in the Tampa indictment of supervising Money laundering by lower level employees was Swaleh Naqvi who became president of Bocci in 1988 after its founder Agha Hasan Abedi suffered a heart attack. Besides Naqvi and five other Bankers five reputed members of the Medellin drug Cartel also were charged in the indictment. The three count indictment portrays Bocci As a Bank built on Money laundering in latin America. It provides new details of the Bank s relationship with Noriega and describes meetings in which the former treasurer of Bocci Syed . Akbar cent Eris escorted by police officers after he was arrested in the French port of Calais on tuesday. Bankers discussed ways to get More drug deposits from Panama and Colombia. Department of Justice officials said the indictment was the result of a continuing investigation that led to the Bank s guilty plea to Money laundering and the conviction of five of its officers in Tampa last year. The new charges rely heavily on testimony by the former Bocci officials who were convicted in that Case and who Are cooperating with prosecutors. The department of Justice has been criticized in Congress for failing to pursue Bocci aggressively. However the indictment is Likely to add to the criticism because the Bank itself was not charged. As part of the Bank a guilty Pica the . Attorney s office in Tampa agreed not to prosecute the Bank further. None of the other defendants is in custody Mueller said. Naqvi is believed to be in Abu Dahabi. The colombian defendants Are in their country and Are unlikely to be extradited. Salomon cancels Severance pay bonuses for executives who quit new York a heeding Calls from Congress Salomon inc. Has decided not to pay Severance bonuses or Legal expenses to its former chairman and three other executives who resigned in the firms Bond scandal. Thursdays decision came a Day after Salomons interim chairman Warren e. Buffett was urged at a hearing in Washington not to pay the former executives any More Money. A they deserve nothing but a Swift kick in the butt out of Salomon Brothers and into the Street a rep. Jim Slattery d-kan., said. A there should not be a dime spent to defend the  Salomon chairman John h. Gutfreund president Thomas Strauss vice chairman John Meriwether and general counsel Donald Feuerstein resigned last month after company officials said they had known since april of bidding violations in Treasury securities auctions but did no to re port them to authorities until August. Salomon said the firm would Honor any existing Legal obligations which were being determined by its attorneys. In an unrelated Case Shearson Lehman Brothers inc. Announced thursday that it had suspended two top executives because of allegations they were involved in manipulating the Price of a Stock the firm was arranging to sell to the Public. In a letter to employees Shearson chairman Howard l. Clarkjr. Said the firm decided to suspend Manny Geronimos its senior vice president for equities and Peter Dapuzzo co head of worldwide equities after receiving new information in an investigation which began last month. The company said it and the new York Stock Exchange Are investigating allegations that an improper Trade was apparently made to try to boost the prospects for a november 1990 Stock offering by Colagra inc. In the Salomon Case company officials have depicted the firms government Bond trading desk As a renegade operation in which one Man repeatedly broke Treasury bidding rules altered documents to cover up the action and lied to superiors and regulators. The company is cooperating with several congressional probes As Well As Federal civil and criminal investigations. Until thursdays announcement the four former executives had been eligible for Large Severance and compensation packages and three of them would have been Able to share in a $100 million deferred compensation Pool next year. Last year Gutfreund was paid about $2.26 million and Strauss received about $2.01 million. Meriwether has been identified As one of Wall Street s highest paid executives with past compensation reported at $8 million