European Stars and Stripes (Newspaper) - October 9, 1991, Darmstadt, Hesse                                Wednesday october 9, 1991 the stars and stripes b Page 17 Money matters i consumer borrowing in . Dropped 2.1 percent in August Mcdonnell Douglas corp. Announced monday that it has signed a $400 million three year credit commitment with six major Banks. The firm recently accused by Federal auditors of being near bankruptcy said the new pact would replace a one year $750 million credit commitment that expires in december. A spokesman noted that the new commitment is significant because it comes at a time when some defense analysts had been questioning the company a ability to obtain a multiyear loan. The Banks providing the credit  Chase Manhattan Bank Morgan guaranty first Chicago Citibank an Amro . And Bank of new York. Mcdonnell Douglas Stock gained $2,375, to $61.50 a share monday on the new York Stock  rates London up tuesdays rates for the . Dollar to other currencies. Figures  expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $357.75 an ounce Silver at $4 08 oct 7 oct 8 British pound.1.7345 1 7170 German mark.1.6800 1 6945 French franc.5.7170 5.7500 dutch guilder.1.8920 1.9100 belgian franc.34.6500 34.7750 italian lira.1,254.20 1,261.25 Swiss franc.1.4715 1.4790 greek drachma.187.13 187.77 turkish lira.4,753.90 4,767.80 saudi arabian riyal.3.7503 3.7504 Spanish peseta .106.14 106.47 portuguese escudo.144,11 145.04 Canadian dollar.1.1303 1.1282 austrian schilling.11.8130 11.8700 norwegian krone.6.5670 6.6000 danish krone.6.4700 6.4990 these  commercial rates 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 wednesday based on tuesdays noontime  York Exchange new York up a the 15 most Active stocks in new York Stock Exchange composite trading on monday. Stock solos last Natch. Natl med enter 5,513,100 16vfi off 4% Westinghouse Al 4,266,600 19% off 2% Amer express 3,791,100 20 vex off % Rwjr Nabisco hid 3,608,400 10�?T/? off % Tel Fonos de my 2,430,100 38% up 1 at amp to company 2,090,100 36% off % genl electric a 1,587,500 67 i off 1% Upjohn co 1,299,100 43 i \ off % merry go round 1,290,000 by Ltd off 1% Motorola inc 1,289,500 55% off 1% ism corp 1,277,600 98% up % Pepsico inc 1,271,000 28v4 up v4 Bristol Myersq 1,100,100 81% unch Philip Morris 1,083,000 71v off % us air group inc 1,023,100 7% off 1 american Exchange new York up a the 10 most Active stocks in american Stock Exchange composite trading monday. Stock metro mob b Hill Haven be Mac corp Alza corp Wang labs b Bergen Brun fruit of pm Marcus desc Kirby corp Echo Bay in Salas last Natch. 503,000 20% off�?T/4 356,300 2% 0ff/4 328,100 15 up 1% 223,000 69% off % 179,600 2% off % 175,600 21% unch 167,100 19% off 160,100 5�?T/4 off it 159,900 16 unch 158,800 8% unch Dow Jones new York up monday 30 industrials 20 transport 15 utilities 65 stocks now Jones closing Range of averages High 2973.17 1189 84 21338 1065 43 Low 2926 21 1172.65 211 44 1050 06 close 2942 75 1178.44 21251 105569 change Oft 19.01 off 9.15 off 0 12 0116 28 Washington up consumer borrowing Sank $1.3 billion or 2.1 percent in August largely because of another Sharp drop in Loans for automobiles the Federal Reserve said. Augustus decrease followed a revised decline in july of $629 million a Little less than the fed s initial estimate of $838 million the government said monday. Instalment Loans have grown Only one month this year a up 1.9 percent in april. Consumer credit includes All consumer Loans except Home Loans and Home equity debt. It helps to pay for much of Consumers Overall spending which represents two thirds of the nation s economic activity. Many analysts contend that Consumers have adopted a wait and see attitude toward the Economy before committing themselves to More debt. A american businesses and american Consumers  paying off their debt loads and this is just one indication a said Thom As Carpenter chief economist at Asb capital management in Washington. A $1.97 billion or 8.6 percent decrease in Auto borrowing accounted for most of the decline in Overall borrowing during August. The Auto sector is the largest single category in the feds credit report. Auto borrowing has dropped for eight consecutive months and fell a revised $931 million or 4.1 percent in july. Analysts said the Low borrowing for automobiles is linked to poor Auto sales and increased Auto leasing. Also people  paying off their old High int Crest car debt rather than putting their Money in savings where it would earn relatively Low interest analysts said. A people  saying a look it does t make sense to keep Money that a earning 5 or 6 percent interest when 1 have a car loan that a costing me 12 or 14 percent interest a a a Carpenter said. A so people  literally paying off these  meanwhile the fed said revolving credit a which includes credit card Loans a was up $1.18 billion or 6.2 percent in August after rising a revised $462 million or 2.4 percent in july. All other types of credit fell $403 million. Or 2.3 percent in August after declining $131 million or 0.8 percent in july. These and other changes left Consumers holding $728.7 billion in instalment debt at the end of August or 0.7 percent less than they held a year earlier. Consumers have been reducing total debt As a share of their income since the beginning of 1989. And the anticipated gloomy August report was viewed As a continuation of that trend. Outstanding credit is seen As a key indication of the Consumers economic Well being because it is assumed that greater borrowing leads to greater spending. A Rise in consumer spending creates additional demand in the marketplace for new products and that Mcmanu pushes factories to Speed production and hire More workers. Fort Hood homeowners Aid available to some gis civilians by the stars and stripes Washington a some service members and civilians who were assigned to fort Hood Texas  eligible for the homeowners assistance program designed to Cushion real estate losses caused by the inactivation of the 2nd army div. A the program applies to soldiers and civilians who owned Homes in the fort Hood area going Back several years a a base spokeswoman said. A we know that a lot of those people have since left Texas for worldwide  the assistance program is designed to prevent catastrophic losses on Home sales and offers three types of benefits a reimbursement for losses incurred in Selling a Home on the open real estate Market. A government acquisition of the Home if reasonable efforts to sell  unsuccessful. A reimbursement of foreclosure expenses. Personnel now serving overseas  eligible if on Jan. 29, 1990 a the Day the division publicly announced its inactivation a they were owner occur cants of a one or two family dwelling it rated near the installation. Other eligible homeowners  a those who were reassigned or lost their jobs because of reductions in Force rims within the six months before the inactivation announcement. A those who were transferred Over seas within 15 months before the announcement and were not accompanied by dependents and were owner occupants of a Home on the Date of Transfer. A Federal civilian employees with reemployment rights who  currently working overseas. Applications for the homeowners assistance program and More information can be obtained by calling the fort Worth District real estate division at commercial 817-334-4047 or its 3344047. Completed applications should be mailed to . Army corps of engineers fort Worth District attn Cess of Rem . Box 17300, fort Worth to 76102-0300. Ism tightens employees evaluations new York apr International business machines corp. Has announced a Tough new evaluation system to rank and improve workers while weeding out poor performers and rewarding the Best a company spokesman said. Terry Lautenbach in my a . President outlined the program last week in a series of meetings and on a videotape distributed within the firm said Steve Eames an ism spokesman. The company had already planned to pare its worldwide work Force of 374, my by 17, pm this year. Using the new system the company Hopes to Cut another few thousand jobs next year Eames said. Starting in january workers will be rated on their Overall contribution to ism and Job performance. Groups of 60 to 100 employees doing similar jobs will be ranked against each other while individual poor performers will get just one or two months to improve according to company officials. The Wall Street journal first reported last week that ism was going to make changes to encourage productivity. In the past a weak employee was Given six months to make changes the journal said. Ism based in Armonk 32 Miles Northeast of new York City has a history of rarely firing employees and typically thinning its ranks by paying employees to leave. Eames said the company set up the rating system a because the world is becoming More  firm protests army award of Boeing contract Al Segundo Calif. Up computer sciences corp. Filed a protest monday with the Federal government Over the recent army selection of rival Boeing co. For a $1.6 billion contract to build a vast computer network. Computer sciences said it had made the protest at the general services Board of contract appeals concerning the award of the 11-year pact to Boeing computer services for the army a Reserve component automation system. Computer sciences said it has been informed that Boeing so evaluated life Cycle Price is about $1.8 billion compared with its own $1.45 billion. An army news release last week said the Boeing contract was for $1.6 billion. A this company rarely protests contract awards but in View of the very Large government investment in this program we feel that All aspects of the contract award process should be scrutinized by the Board of contract appeals a said . Nashman president of the corporations computer sciences systems group. The contract Calls for a system that would link up the army National guard and its Reserve unit and Speed up mobilization during an emergency. Boeing a computer division has recently taken the strategy of trying to obtain government work rather than commercial work in systems integration. Computer sciences corp., of id Segundo has annual revenues of close to $2 billion