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Publication: European Stars and Stripes Monday, September 30, 1991

You are currently viewing page 16 of: European Stars and Stripes Monday, September 30, 1991

     European Stars and Stripes (Newspaper) - September 30, 1991, Darmstadt, Hesse                                September 30. 1991 the stars and stripes b Page 17_�?�_money matters today a tip despite worries Over dwindling demand from the recession tire makers have increased wholesale prices As much As 8 percent in recent weeks claiming their own costs Are rising. General tire a subsidiary of Continental a of Germany was the first to announce a Price increase on aug. 27. Since then Bridges tone Firestone Goodyear Michelin uniroyal Goodrich Dunlop Pirelli Yokohama and others followed. Tires Are one of the most expensive parts to replace on a  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 $348.95 an ounce Silver at $4 09. Sept 26 sept. 27 British pound.1 7325 1 7350 German mark.1 6805 1 6875 French franc. 5 7370 5 7475 dutch Guilder. 1 8991 1 8970 belgian franc .34 65 34 3475 italian lira. 1.258 35 1.260 1 Swiss franc. 1 4620 1 4640 greek drachma. 187 46 187 40 turkish lira. 4.698 30 4,703 90 saudi arabian Riyal .3 7501 3 7501 Spanish peseta. 106 65 106 54 portuguese escudo .145 19 145 54 Canadian Dollar .1 1347 1 1354 austrian Schilling 11 8575 1 1 8575 norwegian Krone 6 5950 6 59 0 danish Krone. 6 5035 6 5025 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 1.64 through monday based on Friday s noontime Price  braced for pretax loss of $500 million by the los Angeles times in a preview of the disastrous losses anticipated by the airline Industry us air said it expected to report a pretax loss of $500 million for 1991 and would ask employees to participate in a Cost reduction programs Quot to boost profits. Industry analysts said us air will be joined by other major airlines in projecting and reporting massive annual losses in the Wake of a slump in travel caused by the recession and the persian Gulf War. During the first half of 1991, us air the nations sixth largest Carrier posted a loss of about $225 million. It lost $454 million in All of 1990. A a it a going to be a bad year and this is the first indication of that Quot said Andrew Nocella an aviation Industry analyst with a Mark a Washington based consulting firm. Us air president Seth e. Schofield said in a statement that the a Outlook for 1992 May not be much better than 1991 if Industry conditions remain the same. Us air also said it would ask employees to participate in Cost cutting programs but gave no specifics. The airline announced it would add up to 40 Boeing 757-200 jets to its Fleet to Cut operating costs on Long distance flights. Us air currently flies a Large number of smaller Boeing 737s, which Are better suited for Shorter regional routes. Mexican president lobbying in . For free Trade Accord by the los Angeles times Coronado Calif. A mexican president Carlos Salinas de Gortari argued forcefully saturday for his vision of a free Trade future linking Mexico the United states and Canada in a vast regional Market. A investment and Trade will offer benefits for each nation in the world of the 21st Century a Salinas told guests at a Coronado luncheon. It was sponsored by the Center for .-mex-Salinas a can studies at the University of California in san Diego. The president spoke during the first Day of a three Day swing through California. Trade Between Mexico and California topped $8 billion in 1989, the last year for which figures were available. Salinas visit his second to California since becoming president is part of his lobbying Effort for the proposed North american free Trade agreement. Details of the agreement Are being ironed out by negotiators from the United states Mexico and Canada. Although organized labor environmentalists and others in the United states have expressed Strong reservations about the Accord Salinas has used the vast Powers of his presidency to mobilize wide support for the initiative in Mexico. Critics South of the Border however have expressed fears that a free Trade atmosphere May provide More benefits for . Corporate executives seeking Access to cheap mexican labor than to most mexican workers a an opinion clearly not shared by Salinas a Strong free mar act adherent. New economic refugees continue to move across the Border but Salinas pointed to what he views As hopeful signs the nation s Economy is growing at an annual rate of 4 percent a double the rate of population growth a for the third consecutive year and inflation is expected to reach single digit numbers by next year compared with the triple digit readings of four years ago. Mexico has Long had one of the world s most protected a and inefficient a economies experts say. Since he was sworn in As president in december 1988, Salinas has moved to change All that opening up the nation to foreign investment and products reducing tariffs and other Trade barriers and divesting the nation of some 1.000 formerly state owned enterprises including the airlines mines Telephone company and the Banks. That s my baby Gerber suit says new York a the two biggest makers of baby food Are battling Over an age old question do All babies look alike Gerber products co. Has sued rival Ralston Purina inc., claiming the infant face that Ralston has stuck on its new Beech nut bottled Spring water bears a suspiciously uncanny resemblance to Gerber a own baby face trademark. The suit filed in . District court in Manhattan accuses Beech nuts Parent company of trademark infringement unfair Competition confusing Consumers and diluting the Selling Power of the venerable Gerber Symbol. At Issue is the Inch High drawing of a cooing infant that Gerber has used to identify its baby food and beverage products since 1932. The image which most frequently has appeared within a Circle also has been used on Gerber bottles pacifiers bibs covers toys and children a clothing. Ralston is using a photograph of a smiling baby also enclosed within a circular band on labels of Beech nut bottled Spring water. The new product so far has been introduced in parts of California and Arizona and from Maine to new Jersey. Gerber which wants Ralston to Stop using the logo is seeking triple damages totalling an unspecified amount. In addition the Freemont Mich based company wants Ralston to turn Over All the Beech nut labels to Gerber. A the main Issue is the likelihood of confusion among Consumers and unfair Competition a said Peter Mack an attorney for Gerber. Gerber a lawsuit claims Beech nuts face right resembles its Long standing Symbol. He would not comment on the specific differences and similarities Between the two baby images. The complaint also charges that Ralston is reaping the benefits of Gerber a advertising and promotion efforts. Elmer Richars a spokesman for Ralston a Beech nut division said company attorneys would not comment until they have had a Chance to study the accusations. Lie said however that All Bench nut products have pictures of babies either photographs or drawings. Beech nut controls about 17 percent of the $1 billion baby food Market making it second to Gerber a 72 percent share. Law Caterpillar of contract Extension Moline Iii. Apr negotiators for Caterpillar inc. And the United Auto workers Union averted a strike by 17,000 workers in four states by agreeing saturday to an indefinite contract Extension. The two sides took just 30 minutes to agree to extend the contract and tentatively schedule another meeting tuesday in Bloomington. Law representatives said the Extension will allow the Union to focus on talks with Deere amp co., a leading farm machinery maker that has been negotiating with the Union for three weeks. The a awl a contracts with both companies were to expire at Midnight monday. Workers for both companies have audio sized strikes and the threat of a strike against Caterpillar Isnit Over. Either Side can cancel the contract Extension with five Days notice negotiators said. A it was a very ii ends i Good meet ing a said Wayne /immcim.m, a  vice president. Quot Vve the  not Ely far  Quot we done to agree with that characterization a a said Karl Mantyla a Law spokesman. Law Secretary treasurer Bill Casstevens declined to comment As he left the meeting  
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