European Stars and Stripes (Newspaper) - September 16, 1991, Darmstadt, Hesse                                Monday september 16, 1991 the stars and stripes b Page 17 i Money matters today a tip the department of transportation has granted Kim Royal dutch airlines rights to operate scheduled services Between Amsterdam a Schipholt Airport and Detroit a metropolitan Wayne county Airport the dutch Carrier reported. Kim sought rights to Fly the route. The request which the department approved last week was based on a . Ruling allowing foreign carriers to operate routes to . Cities that have few or no International air services. Detroit a Wayne county Airport is the busiest Hub of Northwest airlines in which Kim has a 20 percent interest. Kim did not disclose when the Detroit Amsterdam service will Start nor what the flight frequency would be. Conversion 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 $344.25 an ounce Silver at $3 96. Sept. 12 sept. 13 British pound.1.7330 1.7320 German mark.1.6855 1.6800 French ranc.5.7520 5.7555 dutch guilder.1.9035 1.9050 belgian franc.34.815 34.830 italian lira.1,266.05 1,266.00 swissfranc.1.4795 1.4745 greek drachma.187.29 187.50 turkish lira.4,601.30 4,619.10 saudi arabian riyal.3.7502 3.7502 Spanish peseta.105.98 106.03 portuguese escudo.144.91 145.16 Canadian dollar.1.1364 1.1363 austrian schilling.11.8800 11.9050 norwegian krone.6.6090 6.6245 danish krone.6.5205 6.5310 these Are commercial Rales and can be related Only to the use of foreign currency by . Forces for official business. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.65 through monday based on fridays noontime Price fixing. Study employees must control own finances by the new York times employees nowadays must increasingly take responsibility for planning and financing their own benefits particularly retirement says a study by the conference Board and the american association of retired persons. A the Days of corporate paternalism Are behind us a a said Preston Townley chairman and chief executive of the conference Board at a news conference in new York last week. A the new thrust is toward employee self management a he added. Helen Axel a co author of the study and a senior research fellow at the conference Board said a the Good old Days of generous benefits and secure jobs no longer  the trend today As part of corporate downsizing and restructuring is toward variable pay arrangements flexible benefits packages and defined contribution pension plans such As 401 k plans with far less Reliance on corporate funded defined Benefit pensions. Well heeled Maryland county now broke after affluent 80s Bethesda my. A during the High flying �?T80s, this ritzy pocket just outside Washington spared no expense for local services. The nation s sixth richest county strive to build the Best schools and libraries. A spectacular $7.5 million aquatic Center came Complete with a 200-foot indoor water slide and a Waterfall. A we just thought there was a pot at the end of the Rainbow a said Carol tra Wick who Heads the Bethesda Chevy Chase chamber of Commerce. Now Montgomery county is broke victimized in part by a decline in the real estate Industry. Its budget deficit Rose from $85 million a year ago a behind Only new York City and Philadelphia county a to $185 million now. Like Many affluent areas across America that once Felt immune to bad times the county of High rises and Leafy suburbs got pinched by the recession. Residents whose $22,000-per-capita-income is the sixth highest in the nation and nearly twice the National average said they used to feel  a no ones sleeping on the Street but things Are going Down just the same a Pat Holt said on his Way out of the county Library in Bethesda where hours were Cut to help compensate for the shortfall. Other counties with huge deficits suffered the same scenarios a recession induced slide in tax revenues at the same time the Federal government was continuing its trend of forcing counties to pick up More of the Tab for human services. A Survey by the National association of counties found that four of every 10 counties with populations of More than 100,000 face budget shortfalls. Philadelphia and new York topped the list of those with the largest deficits. But counties where the wealthy live were in the top 10, too Suffolk county n.y., Home to Long Island Orange county calif., outside los Angeles and Santa Clara county calif., also known As a Silicon  a a it a happening nationwide in the most affluent areas to the cities where we think of Urban blight a said Kaye Braa ten a county commissioner from Richland county . In Montgomery county it has meant that teachers police and Street cleaners lost their Cost of living adjustments with the implementation of a wage freeze designed to save $65 million. An additional $100 million was bled from programs. About 500 jobs were Cut. Libraries swimming pools and health clinics had their services reduced. New computers desks and cars for police and other programs fell by the Wayside. Interscholastic sports at the Middle Montgomery county md., residents take advantage of their $7.5 million aquatic Center which was built before the current fiscal crisis in the county near Washington. School level were axed As were some Driver education programs. The education cuts came at the same time school enrolment increased by 4,000. A final $20 million came from what residents Call a a nuisance taxes on Energy telephones and beverage containers. Fees and fines were increased. The sluggish real estate Industry is to blame for most of Montgomery county a budget problems. When it went into a dive the county a tax receipts from real estate sales dropped far below expectations administrators said. A my god half those buildings Are empty a Holt said waving his Arm toward shiny new High rises intended for apartments and condominiums. A retired Capitol Hill staffer Holt has lived in Montgomery county for 35 years. Quot we Are in a recession. We hoped to Sec a Little Light at the end of the Tunnel but we done to see it yet Quot said tra Wick who owns a software company. Real estate troubles sparked a Ripple effect. Related businesses began to suffer and retail traffic dropped off pushing Down the county a sales tax Revenue. More people lost jobs bringing Down the county a share of income taxes. Wealthy residents weren to doing so Well either on their rents royalties and capital gains bringing that portion of income tax Down too. A the irony is that the revenues Are Down but the services Start to go up when people come in for food Stamps or health services a said Vicki Lathom a spokeswoman for the Montgomery county executives office. Mortgage delinquency rate increasing by the Washington Post Washington a More and More homeowners Are falling behind in their mortgage payments. A Survey by the mortgage Bankers association of America shows that the nations mortgage delinquency rate Rose in the second Quarter of the year to its highest Point since 1986, with 5.28 percent of All Home mortgages past due up 0.33 percent from the previous Quarter. The biggest increase occurred among mortgage payments that were 30 Days late. About 1 percent of Home Loans Are in foreclosure the Survey showed. A unemployment rates Are taking their toll a said Richard w. Peach mbah a Deputy chief economist. A people out of work first go through a period when they draw Down their savings use their Severance and then begin to rely on family members. The real problem comes when the unemployment lasts six months nine months a year. Then it ends up in a  hardest hit by mortgage delinquencies Are Alaska where 2.87 percent of All Loans Are in foreclosure and Oklahoma where 2.37 percent Are in foreclosure according to the Survey. Other states with High foreclosure rates include Colorado Arizona and Florida. Hawaii had the nations lowest foreclosure rate with Only about one tenth of 1 percent of residential properties return ing to the lenders. The Northeast had the biggest increase in problem Loans. The delinquency rate there Rose nearly three quarters of i percent in the second Quarter compared with the second Quarter last year climbing to 4.49 percent from 3.78 percent. The mba blamed the increase there on the poor Economy and flattening or falling Home prices. The Survey conducted regularly since 1953, compiled statistics on More than 15.5 million Loans made on one unit to four unit residential properties by about 4 h lenders including Banks savings and loan institutions mortgage Bankers and life insurance companies